The global wet chemicals market was valued at $3.2 billion in 2021, and is projected to reach $5.9 billion by 2031, growing at a CAGR of 6.3% from 2022 to 2031.
Wet chemicals are commercial organic and inorganic chemicals used in various end-use industries. It acts as an etching and cleaning agent in the semiconductors processing systems.
The rapid expansion of the electrical and electronics industry, growing demand for electronics components, and rise in the manufacturing plants for electric devices and vehicles have increased popularity of the electronics industry. For instance, according to an article published by Invest India in August 2022, the global electronic devices market was estimated to be $2.9 Tn in 2020. India’s share in the global electronic systems manufacturing industry has grown from 1.3% in 2012 to 3.6% in 2019. Wet chemicals are extensively used for etching applications in printed circuit boards and during the production of the silicon wafer in semiconductor processing systems. These factors are propelling the overall growth of wet chemicals in the growing electronics industry.
In addition, the increase in the usage of integrated circuits, microchips, transistors, solar cells, and the impact of digitalization across the globe has led to increase in the production rate of semiconductors. For instance, according to an article published by the Semiconductor Industry Association in January 2022, global sales of semiconductors totaled $152.5 billion during the second quarter of 2022, with increase of 13.3% over the second quarter of 2021 and 0.5% more than the first quarter of 2022. Furthermore, wet chemicals are extensively used as cleaning and etching agent in the production and processing of semiconductors. These factors are boosting the wet chemicals during the forecast period.
However, The electronics and semiconductor sector involves extensive uses of chemicals for manufacturing, processing, and production process of electronics components. Additionally, some chemicals include hydrogen peroxide, solvents, flammable gas, and among others. The manufacturing process of semiconductors involves generation of semiconductor waste residues that are toxic and harmful to the environment. In response to this, North America, Europe, and Asia-Pacific region has set some rules and regulations for certain wet chemicals. For instance, the Europe region alone has 500 existing laws for chemicals. These factors restraining the growth of wet chemicals in the market.
Technological innovations in the electronics industry and rising demand for photovoltaic cells, integrated circuits, smartphones, laptops, computers, tabs, and others have created new avenues for wet chemicals. Hydrogen peroxide-based wet chemicals are extensively used for the removal of organic residues as well as metallic impurities during the processing of semiconductors and electronic components. The growing semiconductors industry is one of the key determinants for the growth of the wet chemical bases segment. For instance, most semiconductor processing systems require bases, such as ammonium hydroxide, sodium hydroxide, and others for proper fabrication of the silicon chip. In addition, Technic Company offers a full range of pure bases for the semiconductors industry as cleaning and etching agent. This is anticipated to increase the demand for wet chemical-based bases in semiconductors in industrial applications. Furthermore, sodium hydroxide and amine bases are used as industrial cleaning agents and in electronics assembly applications. This is anticipated to increase sales of wet chemicals in electronics components; thus, creating lucrative opportunities for the market.
The wet chemicals market analysis is done on the basis of product type, application, and region. On the basis of product type, the market is categorized into acid, base, solvent, oxidizer, and others. On the basis of application, it is divided into semiconductor, automotive, flexographic printing, building & construction, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The global wet chemicals market profiles leading players that include BASF SE, Chang Chun Group, Dow, Eastman Chemical Company, Evonik Industries, Formosa Daikin Advanced Chemicals Co. Ltd., Honeywell International Inc., Hubei Xingfa Chemicals Group Co. Ltd., Kanto Kagaku, Mitsubishi Electric Corporation, Rin Kagaku Kogyo Co. Ltd., Santoku Chemical Industries Co. Ltd., Solvay Inc., Yingpeng Chemical Co. Ltd., and Zhejiang Kaisn Fluorochemical Co. Ltd.
Wet chemicals are commercial organic and inorganic chemicals used in various end-use industries. It acts as an etching and cleaning agent in the semiconductors processing systems.
The rapid expansion of the electrical and electronics industry, growing demand for electronics components, and rise in the manufacturing plants for electric devices and vehicles have increased popularity of the electronics industry. For instance, according to an article published by Invest India in August 2022, the global electronic devices market was estimated to be $2.9 Tn in 2020. India’s share in the global electronic systems manufacturing industry has grown from 1.3% in 2012 to 3.6% in 2019. Wet chemicals are extensively used for etching applications in printed circuit boards and during the production of the silicon wafer in semiconductor processing systems. These factors are propelling the overall growth of wet chemicals in the growing electronics industry.
In addition, the increase in the usage of integrated circuits, microchips, transistors, solar cells, and the impact of digitalization across the globe has led to increase in the production rate of semiconductors. For instance, according to an article published by the Semiconductor Industry Association in January 2022, global sales of semiconductors totaled $152.5 billion during the second quarter of 2022, with increase of 13.3% over the second quarter of 2021 and 0.5% more than the first quarter of 2022. Furthermore, wet chemicals are extensively used as cleaning and etching agent in the production and processing of semiconductors. These factors are boosting the wet chemicals during the forecast period.
However, The electronics and semiconductor sector involves extensive uses of chemicals for manufacturing, processing, and production process of electronics components. Additionally, some chemicals include hydrogen peroxide, solvents, flammable gas, and among others. The manufacturing process of semiconductors involves generation of semiconductor waste residues that are toxic and harmful to the environment. In response to this, North America, Europe, and Asia-Pacific region has set some rules and regulations for certain wet chemicals. For instance, the Europe region alone has 500 existing laws for chemicals. These factors restraining the growth of wet chemicals in the market.
Technological innovations in the electronics industry and rising demand for photovoltaic cells, integrated circuits, smartphones, laptops, computers, tabs, and others have created new avenues for wet chemicals. Hydrogen peroxide-based wet chemicals are extensively used for the removal of organic residues as well as metallic impurities during the processing of semiconductors and electronic components. The growing semiconductors industry is one of the key determinants for the growth of the wet chemical bases segment. For instance, most semiconductor processing systems require bases, such as ammonium hydroxide, sodium hydroxide, and others for proper fabrication of the silicon chip. In addition, Technic Company offers a full range of pure bases for the semiconductors industry as cleaning and etching agent. This is anticipated to increase the demand for wet chemical-based bases in semiconductors in industrial applications. Furthermore, sodium hydroxide and amine bases are used as industrial cleaning agents and in electronics assembly applications. This is anticipated to increase sales of wet chemicals in electronics components; thus, creating lucrative opportunities for the market.
The wet chemicals market analysis is done on the basis of product type, application, and region. On the basis of product type, the market is categorized into acid, base, solvent, oxidizer, and others. On the basis of application, it is divided into semiconductor, automotive, flexographic printing, building & construction, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The global wet chemicals market profiles leading players that include BASF SE, Chang Chun Group, Dow, Eastman Chemical Company, Evonik Industries, Formosa Daikin Advanced Chemicals Co. Ltd., Honeywell International Inc., Hubei Xingfa Chemicals Group Co. Ltd., Kanto Kagaku, Mitsubishi Electric Corporation, Rin Kagaku Kogyo Co. Ltd., Santoku Chemical Industries Co. Ltd., Solvay Inc., Yingpeng Chemical Co. Ltd., and Zhejiang Kaisn Fluorochemical Co. Ltd.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the wet chemicals market analysis from 2021 to 2031 to identify the prevailing wet chemicals market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the wet chemicals market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global wet chemicals market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product type
- Acids
- Bases
- Solvents
- Oxidizers
- Others
By Application
- Semiconductor
- Etching
- Cleaning
- IC packaging
- PCB
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- BASF SE
- Chang Chun Group
- Dow
- Eastman Chemical Company
- Evonik Industries
- Formosa Daikin Advanced Chemicals Co. Ltd.
- Honeywell International Inc.
- Hubei Xingfa Chemicals Group Co. Ltd.
- KANTO KAGAKU
- Mitsubishi Electric Corporation
- Rin Kagaku Kogyo Co. Ltd.
- Santoku Chemical Industries Co. Ltd.
- Solvay Inc.
- Yingpeng Chemical Co. Ltd.
- Zhejiang Kaisn Fluorochemical Co. Ltd.
Table of Contents
CHAPTER 1: INTRODUCTION1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market
3.7. Pricing Analysis
3.8. Regulatory Guidelines
3.9. Value Chain Analysis
3.10. Key Regulation Analysis
3.11. Patent Landscape
CHAPTER 4: WET CHEMICALS MARKET, BY PRODUCT TYPE
4.1 Overview
4.1.1 Market size and forecast
4.2 Acids
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market share analysis by country
4.3 Bases
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market share analysis by country
4.4 Solvents
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market share analysis by country
4.5 Oxidizers
4.5.1 Key market trends, growth factors and opportunities
4.5.2 Market size and forecast, by region
4.5.3 Market share analysis by country
4.6 Others
4.6.1 Key market trends, growth factors and opportunities
4.6.2 Market size and forecast, by region
4.6.3 Market share analysis by country
CHAPTER 5: WET CHEMICALS MARKET, BY APPLICATION
5.1 Overview
5.1.1 Market size and forecast
5.2 Semiconductor
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market share analysis by country
5.3 Etching
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market share analysis by country
5.4 Cleaning
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market share analysis by country
5.5 IC packaging
5.5.1 Key market trends, growth factors and opportunities
5.5.2 Market size and forecast, by region
5.5.3 Market share analysis by country
5.6 PCB
5.6.1 Key market trends, growth factors and opportunities
5.6.2 Market size and forecast, by region
5.6.3 Market share analysis by country
5.7 Others
5.7.1 Key market trends, growth factors and opportunities
5.7.2 Market size and forecast, by region
5.7.3 Market share analysis by country
CHAPTER 6: WET CHEMICALS MARKET, BY REGION
6.1 Overview
6.1.1 Market size and forecast
6.2 North America
6.2.1 Key trends and opportunities
6.2.2 North America Market size and forecast, by Product type
6.2.3 North America Market size and forecast, by Application
6.2.4 North America Market size and forecast, by country
6.2.4.1 U.S.
6.2.4.1.1 Key market trends, growth factors and opportunities
6.2.4.1.2 Market size and forecast, by Product type
6.2.4.1.3 Market size and forecast, by Application
6.2.4.2 Canada
6.2.4.2.1 Key market trends, growth factors and opportunities
6.2.4.2.2 Market size and forecast, by Product type
6.2.4.2.3 Market size and forecast, by Application
6.2.4.3 Mexico
6.2.4.3.1 Key market trends, growth factors and opportunities
6.2.4.3.2 Market size and forecast, by Product type
6.2.4.3.3 Market size and forecast, by Application
6.3 Europe
6.3.1 Key trends and opportunities
6.3.2 Europe Market size and forecast, by Product type
6.3.3 Europe Market size and forecast, by Application
6.3.4 Europe Market size and forecast, by country
6.3.4.1 Germany
6.3.4.1.1 Key market trends, growth factors and opportunities
6.3.4.1.2 Market size and forecast, by Product type
6.3.4.1.3 Market size and forecast, by Application
6.3.4.2 UK
6.3.4.2.1 Key market trends, growth factors and opportunities
6.3.4.2.2 Market size and forecast, by Product type
6.3.4.2.3 Market size and forecast, by Application
6.3.4.3 France
6.3.4.3.1 Key market trends, growth factors and opportunities
6.3.4.3.2 Market size and forecast, by Product type
6.3.4.3.3 Market size and forecast, by Application
6.3.4.4 Spain
6.3.4.4.1 Key market trends, growth factors and opportunities
6.3.4.4.2 Market size and forecast, by Product type
6.3.4.4.3 Market size and forecast, by Application
6.3.4.5 Italy
6.3.4.5.1 Key market trends, growth factors and opportunities
6.3.4.5.2 Market size and forecast, by Product type
6.3.4.5.3 Market size and forecast, by Application
6.3.4.6 Rest of Europe
6.3.4.6.1 Key market trends, growth factors and opportunities
6.3.4.6.2 Market size and forecast, by Product type
6.3.4.6.3 Market size and forecast, by Application
6.4 Asia-Pacific
6.4.1 Key trends and opportunities
6.4.2 Asia-Pacific Market size and forecast, by Product type
6.4.3 Asia-Pacific Market size and forecast, by Application
6.4.4 Asia-Pacific Market size and forecast, by country
6.4.4.1 China
6.4.4.1.1 Key market trends, growth factors and opportunities
6.4.4.1.2 Market size and forecast, by Product type
6.4.4.1.3 Market size and forecast, by Application
6.4.4.2 India
6.4.4.2.1 Key market trends, growth factors and opportunities
6.4.4.2.2 Market size and forecast, by Product type
6.4.4.2.3 Market size and forecast, by Application
6.4.4.3 Japan
6.4.4.3.1 Key market trends, growth factors and opportunities
6.4.4.3.2 Market size and forecast, by Product type
6.4.4.3.3 Market size and forecast, by Application
6.4.4.4 South Korea
6.4.4.4.1 Key market trends, growth factors and opportunities
6.4.4.4.2 Market size and forecast, by Product type
6.4.4.4.3 Market size and forecast, by Application
6.4.4.5 Australia
6.4.4.5.1 Key market trends, growth factors and opportunities
6.4.4.5.2 Market size and forecast, by Product type
6.4.4.5.3 Market size and forecast, by Application
6.4.4.6 Rest of Asia-Pacific
6.4.4.6.1 Key market trends, growth factors and opportunities
6.4.4.6.2 Market size and forecast, by Product type
6.4.4.6.3 Market size and forecast, by Application
6.5 LAMEA
6.5.1 Key trends and opportunities
6.5.2 LAMEA Market size and forecast, by Product type
6.5.3 LAMEA Market size and forecast, by Application
6.5.4 LAMEA Market size and forecast, by country
6.5.4.1 Brazil
6.5.4.1.1 Key market trends, growth factors and opportunities
6.5.4.1.2 Market size and forecast, by Product type
6.5.4.1.3 Market size and forecast, by Application
6.5.4.2 Saudi Arabia
6.5.4.2.1 Key market trends, growth factors and opportunities
6.5.4.2.2 Market size and forecast, by Product type
6.5.4.2.3 Market size and forecast, by Application
6.5.4.3 South Africa
6.5.4.3.1 Key market trends, growth factors and opportunities
6.5.4.3.2 Market size and forecast, by Product type
6.5.4.3.3 Market size and forecast, by Application
6.5.4.4 Rest of LAMEA
6.5.4.4.1 Key market trends, growth factors and opportunities
6.5.4.4.2 Market size and forecast, by Product type
6.5.4.4.3 Market size and forecast, by Application
CHAPTER 7: COMPANY LANDSCAPE
7.1. Introduction
7.2. Top winning strategies
7.3. Product Mapping of Top 10 Player
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Key developments
CHAPTER 8: COMPANY PROFILES
8.1 BASF SE
8.1.1 Company overview
8.1.2 Company snapshot
8.1.3 Operating business segments
8.1.4 Product portfolio
8.1.5 Business performance
8.1.6 Key strategic moves and developments
8.2 Chang Chun Group
8.2.1 Company overview
8.2.2 Company snapshot
8.2.3 Operating business segments
8.2.4 Product portfolio
8.2.5 Business performance
8.2.6 Key strategic moves and developments
8.3 Dow
8.3.1 Company overview
8.3.2 Company snapshot
8.3.3 Operating business segments
8.3.4 Product portfolio
8.3.5 Business performance
8.3.6 Key strategic moves and developments
8.4 Eastman Chemical Company
8.4.1 Company overview
8.4.2 Company snapshot
8.4.3 Operating business segments
8.4.4 Product portfolio
8.4.5 Business performance
8.4.6 Key strategic moves and developments
8.5 Evonik Industries
8.5.1 Company overview
8.5.2 Company snapshot
8.5.3 Operating business segments
8.5.4 Product portfolio
8.5.5 Business performance
8.5.6 Key strategic moves and developments
8.6 Formosa Daikin Advanced Chemicals Co. Ltd.
8.6.1 Company overview
8.6.2 Company snapshot
8.6.3 Operating business segments
8.6.4 Product portfolio
8.6.5 Business performance
8.6.6 Key strategic moves and developments
8.7 Honeywell International Inc.
8.7.1 Company overview
8.7.2 Company snapshot
8.7.3 Operating business segments
8.7.4 Product portfolio
8.7.5 Business performance
8.7.6 Key strategic moves and developments
8.8 Hubei Xingfa Chemicals Group Co. Ltd.
8.8.1 Company overview
8.8.2 Company snapshot
8.8.3 Operating business segments
8.8.4 Product portfolio
8.8.5 Business performance
8.8.6 Key strategic moves and developments
8.9 KANTO KAGAKU
8.9.1 Company overview
8.9.2 Company snapshot
8.9.3 Operating business segments
8.9.4 Product portfolio
8.9.5 Business performance
8.9.6 Key strategic moves and developments
8.10 Mitsubishi Electric Corporation
8.10.1 Company overview
8.10.2 Company snapshot
8.10.3 Operating business segments
8.10.4 Product portfolio
8.10.5 Business performance
8.10.6 Key strategic moves and developments
8.11 Rin Kagaku Kogyo Co. Ltd.
8.11.1 Company overview
8.11.2 Company snapshot
8.11.3 Operating business segments
8.11.4 Product portfolio
8.11.5 Business performance
8.11.6 Key strategic moves and developments
8.12 Santoku Chemical Industries Co. Ltd.
8.12.1 Company overview
8.12.2 Company snapshot
8.12.3 Operating business segments
8.12.4 Product portfolio
8.12.5 Business performance
8.12.6 Key strategic moves and developments
8.13 Solvay Inc.
8.13.1 Company overview
8.13.2 Company snapshot
8.13.3 Operating business segments
8.13.4 Product portfolio
8.13.5 Business performance
8.13.6 Key strategic moves and developments
8.14 Yingpeng Chemical Co. Ltd.
8.14.1 Company overview
8.14.2 Company snapshot
8.14.3 Operating business segments
8.14.4 Product portfolio
8.14.5 Business performance
8.14.6 Key strategic moves and developments
8.15 Zhejiang Kaisn Fluorochemical Co. Ltd.
8.15.1 Company overview
8.15.2 Company snapshot
8.15.3 Operating business segments
8.15.4 Product portfolio
8.15.5 Business performance
8.15.6 Key strategic moves and developments
List of Tables
Table 1. Global Wet Chemicals Market, by Product Type, 2021-2031 (Revenue, $Million)
Table 2. Global Wet Chemicals Market, by Product Type, 2021-2031 (Volume, Kiloton)
Table 3. Wet Chemicals Market for Acids, by Region, 2021-2031 (Revenue, $Million)
Table 4. Wet Chemicals Market for Acids, by Region, 2021-2031 (Volume, Kiloton)
Table 5. Wet Chemicals Market for Acids, by Country, 2021-2031 (Revenue, $Million)
Table 6. Wet Chemicals Market for Acids, by Country, 2021-2031 (Volume, Kiloton)
Table 7. Wet Chemicals Market for Bases, by Region, 2021-2031 (Revenue, $Million)
Table 8. Wet Chemicals Market for Bases, by Region, 2021-2031 (Volume, Kiloton)
Table 9. Wet Chemicals Market for Bases, by Country, 2021-2031 (Revenue, $Million)
Table 10. Wet Chemicals Market for Bases, by Country, 2021-2031 (Volume, Kiloton)
Table 11. Wet Chemicals Market for Solvents, by Region, 2021-2031 (Revenue, $Million)
Table 12. Wet Chemicals Market for Solvents, by Region, 2021-2031 (Volume, Kiloton)
Table 13. Wet Chemicals Market for Solvents, by Country, 2021-2031 (Revenue, $Million)
Table 14. Wet Chemicals Market for Solvents, by Country, 2021-2031 (Volume, Kiloton)
Table 15. Wet Chemicals Market for Oxidizers, by Region, 2021-2031 (Revenue, $Million)
Table 16. Wet Chemicals Market for Oxidizers, by Region, 2021-2031 (Volume, Kiloton)
Table 17. Wet Chemicals Market for Oxidizers, by Country, 2021-2031 (Revenue, $Million)
Table 18. Wet Chemicals Market for Oxidizers, by Country, 2021-2031 (Volume, Kiloton)
Table 19. Wet Chemicals Market for Others, by Region, 2021-2031 (Revenue, $Million)
Table 20. Wet Chemicals Market for Others, by Region, 2021-2031 (Volume, Kiloton)
Table 21. Wet Chemicals Market for Others, by Country, 2021-2031 (Revenue, $Million)
Table 22. Wet Chemicals Market for Others, by Country, 2021-2031 (Volume, Kiloton)
Table 23. Global Wet Chemicals Market, by Application, 2021-2031 (Revenue, $Million)
Table 24. Global Wet Chemicals Market, by Application, 2021-2031 (Volume, Kiloton)
Table 25. Wet Chemicals Market for Semiconductor, by Region, 2021-2031 (Revenue, $Million)
Table 26. Wet Chemicals Market for Semiconductor, by Region, 2021-2031 (Volume, Kiloton)
Table 27. Wet Chemicals Market for Semiconductor, by Country, 2021-2031 (Revenue, $Million)
Table 28. Wet Chemicals Market for Semiconductor, by Country, 2021-2031 (Volume, Kiloton)
Table 29. Wet Chemicals Market for Etching, by Region, 2021-2031 (Revenue, $Million)
Table 30. Wet Chemicals Market for Etching, by Region, 2021-2031 (Volume, Kiloton)
Table 31. Wet Chemicals Market for Etching, by Country, 2021-2031 (Revenue, $Million)
Table 32. Wet Chemicals Market for Etching, by Country, 2021-2031 (Volume, Kiloton)
Table 33. Wet Chemicals Market for Cleaning, by Region, 2021-2031 (Revenue, $Million)
Table 34. Wet Chemicals Market for Cleaning, by Region, 2021-2031 (Volume, Kiloton)
Table 35. Wet Chemicals Market for Cleaning, by Country, 2021-2031 (Revenue, $Million)
Table 36. Wet Chemicals Market for Cleaning, by Country, 2021-2031 (Volume, Kiloton)
Table 37. Wet Chemicals Market for Ic Packaging, by Region, 2021-2031 (Revenue, $Million)
Table 38. Wet Chemicals Market for Ic Packaging, by Region, 2021-2031 (Volume, Kiloton)
Table 39. Wet Chemicals Market for Ic Packaging, by Country, 2021-2031 (Revenue, $Million)
Table 40. Wet Chemicals Market for Ic Packaging, by Country, 2021-2031 (Volume, Kiloton)
Table 41. Wet Chemicals Market for Pcb, by Region, 2021-2031 (Revenue, $Million)
Table 42. Wet Chemicals Market for Pcb, by Region, 2021-2031 (Volume, Kiloton)
Table 43. Wet Chemicals Market for Pcb, by Country, 2021-2031 (Revenue, $Million)
Table 44. Wet Chemicals Market for Pcb, by Country, 2021-2031 (Volume, Kiloton)
Table 45. Wet Chemicals Market for Others, by Region, 2021-2031 (Revenue, $Million)
Table 46. Wet Chemicals Market for Others, by Region, 2021-2031 (Volume, Kiloton)
Table 47. Wet Chemicals Market for Others, by Country, 2021-2031 (Revenue, $Million)
Table 48. Wet Chemicals Market for Others, by Country, 2021-2031 (Volume, Kiloton)
Table 49. Wet Chemicals Market, by Region, 2021-2031 (Revenue, $Million)
Table 50. Wet Chemicals Market, by Region, 2021-2031 (Volume, Kiloton)
Table 51. North America Wet Chemicals Market, by Product Type, 2021-2031 (Revenue, $Million)
Table 52. North America Wet Chemicals Market, by Product Type, 2021-2031 (Volume, Kiloton)
Table 53. North America Wet Chemicals Market, by Application, 2021-2031 (Revenue, $Million)
Table 54. North America Wet Chemicals Market, by Application, 2021-2031 (Volume, Kiloton)
Table 55. North America Wet Chemicals Market, by Country, 2021-2031 (Revenue, $Million)
Table 56. North America Wet Chemicals Market, by Country, 2021-2031 (Volume, Kiloton)
Table 57. U.S. Wet Chemicals Market, by Product Type, 2021-2031 (Revenue, $Million)
Table 58. U.S. Wet Chemicals Market, by Product Type, 2021-2031 (Volume, Kiloton)
Table 59. U.S. Wet Chemicals Market, by Application, 2021-2031 (Revenue, $Million)
Table 60. U.S. Wet Chemicals Market, by Application, 2021-2031 (Volume, Kiloton)
Table 61. Canada Wet Chemicals Market, by Product Type, 2021-2031 (Revenue, $Million)
Table 62. Canada Wet Chemicals Market, by Product Type, 2021-2031 (Volume, Kiloton)
Table 63. Canada Wet Chemicals Market, by Application, 2021-2031 (Revenue, $Million)
Table 64. Canada Wet Chemicals Market, by Application, 2021-2031 (Volume, Kiloton)
Table 65. Mexico Wet Chemicals Market, by Product Type, 2021-2031 (Revenue, $Million)
Table 66. Mexico Wet Chemicals Market, by Product Type, 2021-2031 (Volume, Kiloton)
Table 67. Mexico Wet Chemicals Market, by Application, 2021-2031 (Revenue, $Million)
Table 68. Mexico Wet Chemicals Market, by Application, 2021-2031 (Volume, Kiloton)
Table 69. Europe Wet Chemicals Market, by Product Type, 2021-2031 (Revenue, $Million)
Table 70. Europe Wet Chemicals Market, by Product Type, 2021-2031 (Volume, Kiloton)
Table 71. Europe Wet Chemicals Market, by Application, 2021-2031 (Revenue, $Million)
Table 72. Europe Wet Chemicals Market, by Application, 2021-2031 (Volume, Kiloton)
Table 73. Europe Wet Chemicals Market, by Country, 2021-2031 (Revenue, $Million)
Table 74. Europe Wet Chemicals Market, by Country, 2021-2031 (Volume, Kiloton)
Table 75. Germany Wet Chemicals Market, by Product Type, 2021-2031 (Revenue, $Million)
Table 76. Germany Wet Chemicals Market, by Product Type, 2021-2031 (Volume, Kiloton)
Table 77. Germany Wet Chemicals Market, by Application, 2021-2031 (Revenue, $Million)
Table 78. Germany Wet Chemicals Market, by Application, 2021-2031 (Volume, Kiloton)
Table 79. UK Wet Chemicals Market, by Product Type, 2021-2031 (Revenue, $Million)
Table 80. UK Wet Chemicals Market, by Product Type, 2021-2031 (Volume, Kiloton)
Table 81. UK Wet Chemicals Market, by Application, 2021-2031 (Revenue, $Million)
Table 82. UK Wet Chemicals Market, by Application, 2021-2031 (Volume, Kiloton)
Table 83. France Wet Chemicals Market, by Product Type, 2021-2031 (Revenue, $Million)
Table 84. France Wet Chemicals Market, by Product Type, 2021-2031 (Volume, Kiloton)
Table 85. France Wet Chemicals Market, by Application, 2021-2031 (Revenue, $Million)
Table 86. France Wet Chemicals Market, by Application, 2021-2031 (Volume, Kiloton)
Table 87. Spain Wet Chemicals Market, by Product Type, 2021-2031 (Revenue, $Million)
Table 88. Spain Wet Chemicals Market, by Product Type, 2021-2031 (Volume, Kiloton)
Table 89. Spain Wet Chemicals Market, by Application, 2021-2031 (Revenue, $Million)
Table 90. Spain Wet Chemicals Market, by Application, 2021-2031 (Volume, Kiloton)
Table 91. Italy Wet Chemicals Market, by Product Type, 2021-2031 (Revenue, $Million)
Table 92. Italy Wet Chemicals Market, by Product Type, 2021-2031 (Volume, Kiloton)
Table 93. Italy Wet Chemicals Market, by Application, 2021-2031 (Revenue, $Million)
Table 94. Italy Wet Chemicals Market, by Application, 2021-2031 (Volume, Kiloton)
Table 95. Rest of Europe Wet Chemicals Market, by Product Type, 2021-2031 (Revenue, $Million)
Table 96. Rest of Europe Wet Chemicals Market, by Product Type, 2021-2031 (Volume, Kiloton)
Table 97. Rest of Europe Wet Chemicals Market, by Application, 2021-2031 (Revenue, $Million)
Table 98. Rest of Europe Wet Chemicals Market, by Application, 2021-2031 (Volume, Kiloton)
Table 99. Asia-Pacific Wet Chemicals Market, by Product Type, 2021-2031 (Revenue, $Million)
Table 100. Asia-Pacific Wet Chemicals Market, by Product Type, 2021-2031 (Volume, Kiloton)
Table 101. Asia-Pacific Wet Chemicals Market, by Application, 2021-2031 (Revenue, $Million)
Table 102. Asia-Pacific Wet Chemicals Market, by Application, 2021-2031 (Volume, Kiloton)
Table 103. Asia-Pacific Wet Chemicals Market, by Country, 2021-2031 (Revenue, $Million)
Table 104. Asia-Pacific Wet Chemicals Market, by Country, 2021-2031 (Volume, Kiloton)
Table 105. China Wet Chemicals Market, by Product Type, 2021-2031 (Revenue, $Million)
Table 106. China Wet Chemicals Market, by Product Type, 2021-2031 (Volume, Kiloton)
Table 107. China Wet Chemicals Market, by Application, 2021-2031 (Revenue, $Million)
Table 108. China Wet Chemicals Market, by Application, 2021-2031 (Volume, Kiloton)
Table 109. India Wet Chemicals Market, by Product Type, 2021-2031 (Revenue, $Million)
Table 110. India Wet Chemicals Market, by Product Type, 2021-2031 (Volume, Kiloton)
Table 111. India Wet Chemicals Market, by Application, 2021-2031 (Revenue, $Million)
Table 112. India Wet Chemicals Market, by Application, 2021-2031 (Volume, Kiloton)
Table 113. Japan Wet Chemicals Market, by Product Type, 2021-2031 (Revenue, $Million)
Table 114. Japan Wet Chemicals Market, by Product Type, 2021-2031 (Volume, Kiloton)
Table 115. Japan Wet Chemicals Market, by Application, 2021-2031 (Revenue, $Million)
Table 116. Japan Wet Chemicals Market, by Application, 2021-2031 (Volume, Kiloton)
Table 117. South Korea Wet Chemicals Market, by Product Type, 2021-2031 (Revenue, $Million)
Table 118. South Korea Wet Chemicals Market, by Product Type, 2021-2031 (Volume, Kiloton)
Table 119. South Korea Wet Chemicals Market, by Application, 2021-2031 (Revenue, $Million)
Table 120. South Korea Wet Chemicals Market, by Application, 2021-2031 (Volume, Kiloton)
Table 121. Australia Wet Chemicals Market, by Product Type, 2021-2031 (Revenue, $Million)
Table 122. Australia Wet Chemicals Market, by Product Type, 2021-2031 (Volume, Kiloton)
Table 123. Australia Wet Chemicals Market, by Application, 2021-2031 (Revenue, $Million)
Table 124. Australia Wet Chemicals Market, by Application, 2021-2031 (Volume, Kiloton)
Table 125. Rest of Asia-Pacific Wet Chemicals Market, by Product Type, 2021-2031 (Revenue, $Million)
Table 126. Rest of Asia-Pacific Wet Chemicals Market, by Product Type, 2021-2031 (Volume, Kiloton)
Table 127. Rest of Asia-Pacific Wet Chemicals Market, by Application, 2021-2031 (Revenue, $Million)
Table 128. Rest of Asia-Pacific Wet Chemicals Market, by Application, 2021-2031 (Volume, Kiloton)
Table 129. LAMEA Wet Chemicals Market, by Product Type, 2021-2031 (Revenue, $Million)
Table 130. LAMEA Wet Chemicals Market, by Product Type, 2021-2031 (Volume, Kiloton)
Table 131. LAMEA Wet Chemicals Market, by Application, 2021-2031 (Revenue, $Million)
Table 132. LAMEA Wet Chemicals Market, by Application, 2021-2031 (Volume, Kiloton)
Table 133. LAMEA Wet Chemicals Market, by Country, 2021-2031 (Revenue, $Million)
Table 134. LAMEA Wet Chemicals Market, by Country, 2021-2031 (Volume, Kiloton)
Table 135. Brazil Wet Chemicals Market, by Product Type, 2021-2031 (Revenue, $Million)
Table 136. Brazil Wet Chemicals Market, by Product Type, 2021-2031 (Volume, Kiloton)
Table 137. Brazil Wet Chemicals Market, by Application, 2021-2031 (Revenue, $Million)
Table 138. Brazil Wet Chemicals Market, by Application, 2021-2031 (Volume, Kiloton)
Table 139. Saudi Arabia Wet Chemicals Market, by Product Type, 2021-2031 (Revenue, $Million)
Table 140. Saudi Arabia Wet Chemicals Market, by Product Type, 2021-2031 (Volume, Kiloton)
Table 141. Saudi Arabia Wet Chemicals Market, by Application, 2021-2031 (Revenue, $Million)
Table 142. Saudi Arabia Wet Chemicals Market, by Application, 2021-2031 (Volume, Kiloton)
Table 143. South Africa Wet Chemicals Market, by Product Type, 2021-2031 (Revenue, $Million)
Table 144. South Africa Wet Chemicals Market, by Product Type, 2021-2031 (Volume, Kiloton)
Table 145. South Africa Wet Chemicals Market, by Application, 2021-2031 (Revenue, $Million)
Table 146. South Africa Wet Chemicals Market, by Application, 2021-2031 (Volume, Kiloton)
Table 147. Rest of LAMEA Wet Chemicals Market, by Product Type, 2021-2031 (Revenue, $Million)
Table 148. Rest of LAMEA Wet Chemicals Market, by Product Type, 2021-2031 (Volume, Kiloton)
Table 149. Rest of LAMEA Wet Chemicals Market, by Application, 2021-2031 (Revenue, $Million)
Table 150. Rest of LAMEA Wet Chemicals Market, by Application, 2021-2031 (Volume, Kiloton)
Table 151. BASF SE: Company Snapshot
Table 152. BASF SE: Operating Segments
Table 153. BASF SE: Product Portfolio
Table 154. BASF SE: Net Sales
Table 155. BASF SE: Key Strategies
Table 156. Chang Chun Group: Company Snapshot
Table 157. Chang Chun Group: Operating Segments
Table 158. Chang Chun Group: Product Portfolio
Table 159. Chang Chun Group: Net Sales
Table 160. Chang Chun Group: Key Strategies
Table 161. Dow: Company Snapshot
Table 162. Dow: Operating Segments
Table 163. Dow: Product Portfolio
Table 164. Dow: Net Sales
Table 165. Dow: Key Strategies
Table 166. Eastman Chemical Company: Company Snapshot
Table 167. Eastman Chemical Company: Operating Segments
Table 168. Eastman Chemical Company: Product Portfolio
Table 169. Eastman Chemical Company: Net Sales
Table 170. Eastman Chemical Company: Key Strategies
Table 171. Evonik Industries: Company Snapshot
Table 172. Evonik Industries: Operating Segments
Table 173. Evonik Industries: Product Portfolio
Table 174. Evonik Industries: Net Sales
Table 175. Evonik Industries: Key Strategies
Table 176. Formosa Daikin Advanced Chemicals Co. Ltd.: Company Snapshot
Table 177. Formosa Daikin Advanced Chemicals Co. Ltd.: Operating Segments
Table 178. Formosa Daikin Advanced Chemicals Co. Ltd.: Product Portfolio
Table 179. Formosa Daikin Advanced Chemicals Co. Ltd.: Net Sales
Table 180. Formosa Daikin Advanced Chemicals Co. Ltd.: Key Strategies
Table 181. Honeywell International Inc.: Company Snapshot
Table 182. Honeywell International Inc.: Operating Segments
Table 183. Honeywell International Inc.: Product Portfolio
Table 184. Honeywell International Inc.: Net Sales
Table 185. Honeywell International Inc.: Key Strategies
Table 186. Hubei Xingfa Chemicals Group Co. Ltd.: Company Snapshot
Table 187. Hubei Xingfa Chemicals Group Co. Ltd.: Operating Segments
Table 188. Hubei Xingfa Chemicals Group Co. Ltd.: Product Portfolio
Table 189. Hubei Xingfa Chemicals Group Co. Ltd.: Net Sales
Table 190. Hubei Xingfa Chemicals Group Co. Ltd.: Key Strategies
Table 191. Kanto Kagaku: Company Snapshot
Table 192. Kanto Kagaku: Operating Segments
Table 193. Kanto Kagaku: Product Portfolio
Table 194. Kanto Kagaku: Net Sales
Table 195. Kanto Kagaku: Key Strategies
Table 196. Mitsubishi Electric Corporation: Company Snapshot
Table 197. Mitsubishi Electric Corporation: Operating Segments
Table 198. Mitsubishi Electric Corporation: Product Portfolio
Table 199. Mitsubishi Electric Corporation: Net Sales
Table 200. Mitsubishi Electric Corporation: Key Strategies
Table 201. Rin Kagaku Kogyo Co. Ltd.: Company Snapshot
Table 202. Rin Kagaku Kogyo Co. Ltd.: Operating Segments
Table 203. Rin Kagaku Kogyo Co. Ltd.: Product Portfolio
Table 204. Rin Kagaku Kogyo Co. Ltd.: Net Sales
Table 205. Rin Kagaku Kogyo Co. Ltd.: Key Strategies
Table 206. Santoku Chemical Industries Co. Ltd.: Company Snapshot
Table 207. Santoku Chemical Industries Co. Ltd.: Operating Segments
Table 208. Santoku Chemical Industries Co. Ltd.: Product Portfolio
Table 209. Santoku Chemical Industries Co. Ltd.: Net Sales
Table 210. Santoku Chemical Industries Co. Ltd.: Key Strategies
Table 211. Solvay Inc.: Company Snapshot
Table 212. Solvay Inc.: Operating Segments
Table 213. Solvay Inc.: Product Portfolio
Table 214. Solvay Inc.: Net Sales
Table 215. Solvay Inc.: Key Strategies
Table 216. Yingpeng Chemical Co. Ltd.: Company Snapshot
Table 217. Yingpeng Chemical Co. Ltd.: Operating Segments
Table 218. Yingpeng Chemical Co. Ltd.: Product Portfolio
Table 219. Yingpeng Chemical Co. Ltd.: Net Sales
Table 220. Yingpeng Chemical Co. Ltd.: Key Strategies
Table 221. Zhejiang Kaisn Fluorochemical Co. Ltd.: Company Snapshot
Table 222. Zhejiang Kaisn Fluorochemical Co. Ltd.: Operating Segments
Table 223. Zhejiang Kaisn Fluorochemical Co. Ltd.: Product Portfolio
Table 224. Zhejiang Kaisn Fluorochemical Co. Ltd.: Net Sales
Table 225. Zhejiang Kaisn Fluorochemical Co. Ltd.: Key Strategies
List of Figures
Figure 1. Wet Chemicals Market Segmentation
Figure 2. Wet Chemicals Market, 2021-2031
Figure 3. Wet Chemicals Market, 2021-2031
Figure 4. Top Investment Pockets, by Region
Figure 5. Porter Five-1
Figure 6. Porter Five-2
Figure 7. Porter Five-3
Figure 8. Porter Five-4
Figure 9. Porter Five-5
Figure 10. Top Player Positioning
Figure 11. Wet Chemicals Mark.:Drivers, Restraints and Opportunities
Figure 12. Pricing Analysis
Figure 13. Regulatory Guidelines
Figure 14. Value Chain Analysis
Figure 15. Key Regulation Analysis
Figure 16. Patent Analysis by Company
Figure 17. Patent Analysis by Country
Figure 18. Wet Chemicals Market, By Product Type, 2021(%)
Figure 19. Comparative Share Analysis of Acids Wet Chemicals Market, 2021-2031(%)
Figure 20. Comparative Share Analysis of Bases Wet Chemicals Market, 2021-2031(%)
Figure 21. Comparative Share Analysis of Solvents Wet Chemicals Market, 2021-2031(%)
Figure 22. Comparative Share Analysis of Oxidizers Wet Chemicals Market, 2021-2031(%)
Figure 23. Comparative Share Analysis of Others Wet Chemicals Market, 2021-2031(%)
Figure 24. Wet Chemicals Market, By Application, 2021(%)
Figure 25. Comparative Share Analysis of Semiconductor Wet Chemicals Market, 2021-2031(%)
Figure 26. Comparative Share Analysis of Etching Wet Chemicals Market, 2021-2031(%)
Figure 27. Comparative Share Analysis of Cleaning Wet Chemicals Market, 2021-2031(%)
Figure 28. Comparative Share Analysis of Ic Packaging Wet Chemicals Market, 2021-2031(%)
Figure 29. Comparative Share Analysis of Pcb Wet Chemicals Market, 2021-2031(%)
Figure 30. Comparative Share Analysis of Others Wet Chemicals Market, 2021-2031(%)
Figure 31. Wet Chemicals Market by Region, 2021
Figure 32. U.S. Wet Chemicals Market, 2021-2031($Million)
Figure 33. Canada Wet Chemicals Market, 2021-2031($Million)
Figure 34. Mexico Wet Chemicals Market, 2021-2031($Million)
Figure 35. Germany Wet Chemicals Market, 2021-2031($Million)
Figure 36. Uk Wet Chemicals Market, 2021-2031($Million)
Figure 37. France Wet Chemicals Market, 2021-2031($Million)
Figure 38. Spain Wet Chemicals Market, 2021-2031($Million)
Figure 39. Italy Wet Chemicals Market, 2021-2031($Million)
Figure 40. Rest of Europe Wet Chemicals Market, 2021-2031($Million)
Figure 41. China Wet Chemicals Market, 2021-2031($Million)
Figure 42. India Wet Chemicals Market, 2021-2031($Million)
Figure 43. Japan Wet Chemicals Market, 2021-2031($Million)
Figure 44. South Korea Wet Chemicals Market, 2021-2031($Million)
Figure 45. Australia Wet Chemicals Market, 2021-2031($Million)
Figure 46. Rest of Asia-Pacific Wet Chemicals Market, 2021-2031($Million)
Figure 47. Brazil Wet Chemicals Market, 2021-2031($Million)
Figure 48. Saudi Arabia Wet Chemicals Market, 2021-2031($Million)
Figure 49. South Africa Wet Chemicals Market, 2021-2031($Million)
Figure 50. Rest of LAMEA Wet Chemicals Market, 2021-2031($Million)
Figure 51. Top Winning Strategies, by Year
Figure 52. Top Winning Strategies, by Development
Figure 53. Top Winning Strategies, by Company
Figure 54. Product Mapping of Top 10 Players
Figure 55. Competitive Dashboard
Figure 56. Competitive Heatmap of Top 10 Key Players
Figure 57. Basf S.: Net Sales ($Million)
Figure 58. Chang Chun Grou.: Net Sales ($Million)
Figure 59. Do.: Net Sales ($Million)
Figure 60. Eastman Chemical Compan.: Net Sales ($Million)
Figure 61. Evonik Industrie.: Net Sales ($Million)
Figure 62. Formosa Daikin Advanced Chemicals Co. Ltd.: Net Sales ($Million)
Figure 63. Honeywell International Inc.: Net Sales ($Million)
Figure 64. Hubei Xingfa Chemicals Group Co. Ltd.: Net Sales ($Million)
Figure 65. Kanto Kagak.: Net Sales ($Million)
Figure 66. Mitsubishi Electric Corporatio.: Net Sales ($Million)
Figure 67. Rin Kagaku Kogyo Co. Ltd.: Net Sales ($Million)
Figure 68. Santoku Chemical Industries Co. Ltd.: Net Sales ($Million)
Figure 69. Solvay Inc.: Net Sales ($Million)
Figure 70. Yingpeng Chemical Co. Ltd.: Net Sales ($Million)
Figure 71. Zhejiang Kaisn Fluorochemical Co. Ltd.: Net Sales ($Million)
Executive Summary
According to the report, “Wet Chemicals Market," the wet chemicals market was valued at $3.2 billion in 2021, and is estimated to reach $5.9 billion by 2031, growing at a CAGR of 6.3% from 2022 to 2031.Wet chemicals are commercial organic and inorganic chemicals used in various end-use industries. It acts as an etching and cleaning agent in the semiconductors processing systems. In addition, wet chemical-based acids, bases, solvent, oxidizer, and other chemicals form have a wide range of applications in agriculture, textile, electronics, and others.
Wet chemicals are commercial chemicals, including sulfuric acid, hydrogen peroxide, nitric acid, and others. Wet chemicals are extensively used in the semiconductor and electronics industry as etching and cleaning agent. In addition, it also finds application in agrochemicals, chemical, and industrial sectors. In addition, rising demand for various electronics components such as LCD, LED, gadgets, bulb, electronic devices, and others from the electronics industry is expected to surge the demand for wet chemicals.
Factors such as growth in the electronics industry, urbanization, and surge in the production rate of electric vehicles have boosted the demand for wet chemicals. For instance, according to a report published by IEA in 2021, 370 electric car models were available in 2020 globally, with 40% increase from 2019, where solvent-based wet chemicals were used in the manufacturing process of lithium-ion batteries These factors enhance the overall demand for wet chemicals during the forecast period.
However, stringent government norms and regulation on certain wet chemicals have hampered the market growth. For instance, hydrogen chloride, hydrogen peroxide, sodium chloride, and other chemicals have harmful effect on human health and environment. These factors are expected to hamper the growth of the wet chemicals market during the forecast period.
Persulfate acts as one of the widely used oxidizing agents across the globe. It is an ideal cleaning agent and micro-etching agent for a wide variety of PCB substrates. These factors together increase the usage of persulfate-based wet chemicals. Furthermore, hydrogen peroxide is one of the main electronic wet chemicals used in the semiconductor industry. Super high purity grades of hydrogen peroxide from Technic Company are utilized in the etching of printed circuit sheets. Moreover, hydrogen peroxide and potassium nitrate find applications in the agriculture industry. It is mainly used to treat pathogenic microorganisms and indicator organisms. These factors are increasing the potential sales of wet chemicals; thus, offering most lucrative opportunities for the market.
The wet chemicals market is segmented on the basis of product type, application, and region. By product type, the market is segregated into acids, bases, solvents, oxidizers, and others. The acids segment dominated the global market in terms of revenue in 2021, with over 50% of the total share. Acid-based wet chemicals include acetic acid, hydrogen peroxide, sulphuric acid, nitric acid, phosphoric acid, hydrofluoric acid, and others.
Acid-based wet chemicals find application in semiconductors, electronics, IC packaging, and many other end-use industries. Furthermore, sulfuring acid is used as an oxidizing agent and cleaning agent in the fabrication and wet stripping of semiconductors, and manufacturing of printed circuit boards. Moreover, acid-based wet chemicals find diversified applications in various end-use industries, due to which manufacturers have put more emphasis on the production of acid-based wet chemicals.
By application, the market is segmented into semiconductor, etching, cleaning, IC packaging, PCB, and others. The semiconductor segment dominated the global market in terms of revenue in 2021, with over 38% of the total share. The recent commercialization of nano-based devices has boosted the market potential for etching chemicals. In response to this, the growing usage of semiconductors and integrated chips in the manufacturing of electrical components has driven the electronic wet chemicals market during the forecast period.
The rising demand for semiconductors in LCD and LED sets has escalated the demand for wet chemicals. For instance, according to an article published by IDC in June 2022, semiconductor revenue is expected to reach $661 billion in 2022 across the globe, with 13.7% year-over-year growth rate following strong 2021 results where revenues reached $582 billion. These factors are projected to enhance the demand for wet chemicals in the growing semiconductors industry.
Region-wise, the wet chemicals market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific wet chemicals market is projected to grow at the highest CAGR during the forecast period. countries such as Japan and Taiwan are constantly engaged in expanding their electrical & automation manufacturing output. For instance, according to a report published by Hennessy Funds, Japan accounts for around 30% market for supplying factory automation products globally. Thus, it helps in production process of semiconductors in the Asia-Pacific region. The utilization of wet chemicals in sectors, such as semiconductors, electronics, IC packaging, and others are the major key market trends in the Asia-Pacific region. Proliferating demand for electronics products where wet chemicals are used as prime etching material fuels the market growth.
Key players operating in the global wet chemicals market include BASF SE, Chang Chun Group, Dow, Eastman Chemical Company, Evonik Industries, Formosa Daikin Advanced Chemicals Co. Ltd., Honeywell International Inc., Hubei Xingfa Chemicals Group Co. Ltd., Kanto Kagaku, Mitsubishi Electric Corporation, Rin Kagaku Kogyo Co. Ltd., Santoku Chemical Industries Co. Ltd., Solvay Inc., Yingpeng Chemical Co. Ltd., and Zhejiang Kaisn Fluorochemical Co. Ltd.
Key Findings of the Study:
- By product type, the acid segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 6.7% from 2022 to 2031.
- By application, the semiconductor application segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 6.8% from 2022 to 2031.
- Region-wise, Asia-Pacific garnered the highest share of 48% in 2021, in terms of revenue, growing at a CAGR of 6.5%.
Companies Mentioned
- BASF SE
- Chang Chun Group
- Dow
- Eastman Chemical Company
- Evonik Industries
- Formosa Daikin Advanced Chemicals Co. Ltd.
- Honeywell International Inc.
- Hubei Xingfa Chemicals Group Co. Ltd.
- KANTO KAGAKU
- Mitsubishi Electric Corporation
- Rin Kagaku Kogyo Co. Ltd.
- Santoku Chemical Industries Co. Ltd.
- Solvay Inc.
- Yingpeng Chemical Co. Ltd.
- Zhejiang Kaisn Fluorochemical Co. Ltd.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 310 |
| Published | September 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 3.2 billion |
| Forecasted Market Value ( USD | $ 5.9 billion |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
