Market Size of Wet Chemicals Industry For Electronics And Semiconductor Applications
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 8.14 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Electronic Wet Chemicals Market Analysis
The global wet chemicals market for electronics and semiconductor applications is estimated at USD 1.73 billion currently, and it is projected to reach USD 2.55 billion in the next five years, registering a CAGR of 8.14% during the forecast period.
The wet chemicals market for electronics and semiconductor applications was hampered by the COVID-19 pandemic in 2020. However, the rising growth of the electronics industry is expected to positively impact the demand for the wet chemicals market for electronics and semiconductor applications in the near future.
- Over the medium term, rising demand from industries driven by modern technologies, along with surging demand for hydrogen peroxide from the semiconductor industry, is expected to drive the market's growth.
- However, on the other hand, waste management of semiconductors and stringent health and environmental regulations regarding the use of certain chemicals are anticipated to hinder the market's growth.
- Nevertheless, the recycling of semiconductors and the favorable growth market for semiconductors in Malaysia are likely to create lucrative growth opportunities for the market studied.
- Asia-Pacific dominated the global market. It is also expected to register the highest CAGR over the forecast period.
