The global Chemical Materials Market is forecast to reach USD 90.77 Billion by 2027, according to a new report by Reports and Data. Increasing commodity demand for semiconductor processing, flat panel displays, and photolithographic printing is expected to drive business growth. Growing demand for electronics around the globe and global IT industry progress will mark the growth of the worldwide market for electronic chemicals and materials as significant driving forces. The increasing trend towards the Internet of Things (IoT)-driven technologies is seen as a substantial supporter of increasing demands for integrated circuits (IC), printed circuit boards (PCBs), and other specialty chemicals and materials. Additionally, increased use of mobile gadgets, TVs, notebooks, computers, lighting systems, and several others make a significant contribution to the global growth of the market.
The products are a critical part of the production process for electronic products. Increasing technical advancements in electronic devices production due to increasing market demand for high-tech goods are projected to fuel demand for the drug over the forecast period.
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Further key findings from the report suggest
- The Gaseous form is expected to see the fastest growth of all types of Chemical Materials due to its growing application reach in the manufacture of semiconductors and PCBs. The segment represented a market share of 8.72% in terms of revenues in 2019 and is expected to rise to a CAGR of 5.9%.
- The largest end-use market category was the semiconductor and integrated circuits, estimated at over USD 38.55 billion in 2019. Increasing demand for electronic goods like tablets, laptops, video recorders, and television sets is expected to fuel the market for semiconductors and integrated circuits, which in turn is expected to have a positive effect on the development of the industry.
- The Asia Pacific driven by China, India, and Japan's production may record improvements in revenue with a CAGR of 6.4% by 2027. Rapid industrialization, combined with rising urbanization and increasing customer purchasing potential in the region, is projected to fuel demand for consumer products, which is expected to raise the retail market over the forecast period.
Competitive landscape of global Chemical Materials and Chemicals market is quite fragmented with regional and global key players. These market players are involved in various strategies including mergers and acquisitions, collaborations, new product launches or corporate deals to retain their market position and expand their product portfolio.
some leading companies operating in the global Chemical Materials and Chemicals market:
Air Products Chemicals Inc., Ashland Inc., Air Liquide Holdings Inc., BASF Electronic Chemicals, Honeywell International Inc., Cabot Microelectronics Corporation, Linde Group, KMG Chemicals Inc., Fujifilm Chemical Materials, Kanto Chemical Co., Inc. and Tokyo Ohka Kogyo Co., Ltd., among others.
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The global market is further segmented into type and application:
Product Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
- Silicon Wafers
- PCB Laminates
- Specialty gases
- Wet chemicals and solvents
End-use Outlook (Revenue, USD Billion; 2017-2027)
- Semiconductors Integrated Circuits
- Printed Circuit Boards
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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