PUBLISHER: The Business Research Company | PRODUCT CODE: 1648771
PUBLISHER: The Business Research Company | PRODUCT CODE: 1648771
Electronic wet chemicals play a crucial role in semiconductor production and processing, providing high-purity chemicals for cleaning and etching applications. These chemicals find applications across various industries, including consumer goods, automotive, aerospace and defense, and medicine.
The main types of electronic wet chemicals include Acetic Acid (CH3OOH), Isopropyl Alcohol (IPA) (C3H8O), Hydrogen Peroxide (H2), Hydrochloric Acid (HCL), Ammonium Hydroxide (NH4OH), Hydrofluoric Acid (HF), Nitric Acid (HNO3), Phosphoric Acid (H3PO4), and Sulfuric Acid (H2SO4). These chemicals exist in various forms, such as liquid, solid, and gas, and are primarily utilized in semiconductor etching and cleaning processes. End users of electronic wet chemicals encompass a broad spectrum of industries, including consumer goods, automotive, aerospace and defense, and medical devices.
The electronic wet chemicals market research report is one of a series of new reports from The Business Research Company that provides electronic wet chemicals market statistics, including electronic wet chemicals industry global market size, regional shares, competitors with electronics wet chemicals market share, detailed electronic wet chemicals market segments, market trends and opportunities, and any further data you may need to thrive in the electronic wet chemicals industry. This electronic wet chemicals market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The electronic wet chemicals market size has grown strongly in recent years. It will grow from $4.16 billion in 2024 to $4.44 billion in 2025 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to semiconductor industry growth, investment in research and development, improved it infrastructure, rise in automotive sector, rise in disposable income.
The electronic wet chemicals market size is expected to see strong growth in the next few years. It will grow to $5.81 billion in 2029 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to expanding demand for consumer electronics, growing industrial automation, emerging market, rise in urbanization. Major trends in the forecast period include environmental friendly wet chemical formulations, miniaturization and advanced packaging, smart manufacturing and iot integration, flexible electronics, materials data analytics.
The growing demand for electric vehicles (EVs) is anticipated to drive the expansion of the electronic wet chemicals market. Electric vehicles, powered by one or more electric motors, utilize electronic wet chemicals in various stages of manufacturing, including the wet process of battery manufacturing, lubrication of electric motors, cleaning and etching of semiconductor components, as well as the recycling of semiconductors and e-waste. Notably, the International Energy Agency reported in September 2022 that electric car sales reached a record high in 2021, with a 4% increase, nearly doubling to 6.6 million compared to 2020. This surge has led to a total of 16.5 million electric vehicles on the road. Consequently, the escalating demand for electric vehicles emerges as a key driver propelling the growth of the electronic wet chemicals market.
The growing demand for semiconductors across various industries is fueling the expansion of the electronics wet chemicals market. This demand for innovative semiconductors is spurred by multiple technological advancements within the electronics sector. As a result, the rising need for semiconductors is directly contributing to the increased demand for electronic wet chemicals. For example, in September 2024, GOV.UK, a UK-based government department, reported that dedicated semiconductor companies generated £9.6 billion in revenue in 2022, representing approximately 2% of global semiconductor revenues, with over 40% (£4.1 billion) coming from UK-based firms. Therefore, the increasing demand for semiconductors in various industries is driving the growth of the electronic wet chemicals market.
Leading companies in the electronic wet chemicals market are concentrating on innovative solutions, such as ultrapure phosphoric acid for semiconductor manufacturing, to satisfy the strict purity and performance standards required for advanced semiconductor production. Ultrapure phosphoric acid for semiconductor production is an extremely refined version of phosphoric acid utilized in semiconductor manufacturing processes. For example, OCI Company Ltd., a chemicals company based in South Korea, introduced its high-purity phosphoric acid, becoming the first South Korean supplier to provide this crucial material to all local semiconductor manufacturers, including SK Hynix. The initial delivery took place in August 2024 following successful quality tests, and this product is essential for the etching processes of semiconductor wafers used in DRAM and NAND flash chip production. With an annual production capacity of 25,000 tons, OCI intends to increase its output to meet the rising demand from the semiconductor sector, thereby further strengthening its competitive position in the market.
Major companies in the electronic wet chemicals market are intensifying their efforts to introduce proprietary blends of chemicals to achieve a competitive advantage. A proprietary blend of chemicals for electronic wet cleaning refers to a specialized mixture designed specifically for cleaning electronic devices. For example, in March 2022, Afton Chemical Corporation, a US-based developer and manufacturer of petroleum additives, launched HiTEC 35701, an electrified transmission fluid (ETF) additive designed for direct-cooled electric motors with multi-speed systems, as part of their eMobility additive range. HiTEC 35701 is intended for use in electric vehicle drives for both passenger cars and commercial vehicles, including wet multi-speed eAxles. Consequently, it is recognized as the world's first fully integrated eAxle additive, offering OEMs a range of hardware within a single package. This innovation allows engineers to develop a shifting mechanism for multiple speeds by balancing the requirements of the electric motor with friction performance.
In October 2023, Fujifilm Holdings Corporation, a multinational conglomerate based in Japan, acquired the Electronic Chemicals Business from Entegris for an undisclosed amount. This acquisition is intended to bolster Fujifilm's leadership in semiconductor materials manufacturing by expanding its portfolio of high-purity process chemicals and enhancing its global presence to meet the increasing demand in the industry. Fujifilm aims to achieve a sales target of JPY 500 billion by 2030. Entegris is a US-based manufacturer of Electronic Materials Process Chemicals.
Major companies operating in the electronic wet chemicals market include Avantor Inc., BASF SE, Cabot Microelectronics Corporation, Honeywell International Inc., Kanto Chemical Co. Inc., Eastman Chemical Company, Solvay S.A., Fujifilm Holdings Corporation, Technic Inc., Linde PLC, Air Products and Chemicals Inc., Mitsubishi Chemical Corporation, Daikin Electronic Devices Sdn. Bhd., T.N.C. Industrial Co. Ltd., Entegris Inc., Dow Inc., Sumitomo Chemical Co. Ltd., Songwon Industrial Co. Ltd., Merck KGaA, Shin-Etsu Chemical Co. Ltd., JSR Corporation, Tokyo Ohka Kogyo Co. Ltd., Adeka Corporation, Sumika Chemical Analysis Service Ltd., Nippon Kayaku Co. Ltd., JNC Corporation, Asahi Kasei Corporation, Mitsui Chemicals Inc., Showa Denko K.K., Hitachi Chemical Company Ltd., Nitto Denko Corporation
Asia-Pacific was the largest region in the electronic wet chemicals market in 2024 and is also expected to be the fastest-growing region in the electronic wet chemicals market during the forecast period. The regions covered in the electronic wet chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the electronic wet chemicals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The electronic wet chemicals market consists of sales of etchants, solvents and based that are used as electronic wet chemicals. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Electronic Wet Chemicals Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on electronic wet chemicals market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for electronic wet chemicals ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The electronic wet chemicals market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.