WET CHEMICALS FOR ELECTRONICS AND SEMICONDUCTOR APPLICATIONS
The wet chemicals for electronics and semiconductor applications market involves chemicals used for cleaning, etching, and deposition processes during wafer fabrication and semiconductor manufacturing. Wet chemicals play a vital role in cleaning wafer surfaces, removing photoresist materials, and depositing thin film materials. They help in doping processes and etching away excess deposited material to create the necessary circuit patterns. The global wet chemicals market is driven by the growing need for smaller, more powerful, and energy-efficient electronic devices. Miniaturization trends have increased the complexity of semiconductor chips, requiring more meticulous and refined wet processing steps. The use of advanced etchants and cleaners ensures conformal film deposition without residue or defects.
The Global wet chemicals market for electronics and semiconductor applications is estimated to be valued at US$ 4.07 Bn in 2024 and is expected to exhibit a CAGR of 7.1% over the forecast period of 2024 to 2031.
Key Takeaways
Key players operating in the wet chemicals market for electronics and semiconductor applications are Avantor Inc., BASF SE, Eastman Chemical Company, FUJIFILM Corporation, Honeywell International LLC, KANTO CHEMICAL CO. INC., KMG Chemicals (Cabot Microelectronics), kredence Pvt Ltd, Solvay, T.N.C. INDUSTRIAL CO. LTD, Technic Inc., Linde, Zhejiang Kaisn Fluorochemical Co. Ltd.
Wet Chemicals For Electronics And Semiconductor Applications Market Growth is miniaturization of electronic components offers significant opportunities for wet chemical manufacturers to develop specialized etchants and cleaners suitable for Next Generation Lithography processes. Growth of foundry and logic segments of the semiconductor industry will drive demand for wet process chemicals.
Technological advancements such as EUV lithography, 3D chip manufacturing, and advanced packaging are enabling smaller feature sizes and more complex layer stacks. This requires innovative wet chemical formulations with high selectivity and minimal corrosion effect. Alternative cleaning approaches using CO2, alcohols or hybrid technologies complement traditional acid-based wet cleaners.
Market Drivers
The market is driven by continued Moore's law scaling and growing adoption of semiconductors in applications beyond computers. The automotive industry's rise in semiconductor content per vehicle and growing chip requirements for cloud infrastructure, 5G communications and AI/ML workloads will fuel demand. Government funding and investments in regional wafer fabrication are encouraging semiconductor manufacturers to increase capital expenditure on advanced technology nodes which rely more heavily on wet chemical processing steps.
Current challenges in Wet Chemicals For Electronics And Semiconductor Applications Market:
Rising complexities in semiconductor fabrication processes has increased the demand for high purity wet chemicals which has to meet stringent quality control standards. Most manufacturers face difficulties in scaling up production capacities to meet the ever increasing demand. Supply chain disruptions amidst the ongoing pandemic has severely impacted the availability of key raw materials for various wet chemicals. Geopolitical tensions have further exacerbated the supply issues. Rising logistics and transportation costs have put upward pressure on final product prices. Strict environmental regulations around the handling and disposal of hazardous chemicals pose operational challenges for players.
SWOT Analysis
Strength: Wide range of chemicals available for key wafer manufacturing steps. Ability to customize formulations as per specific customer requirements.
Weakness: High R&D investments required to develop newer chemistries for advanced nodes. Vulnerable to fluctuations in raw material prices and supply issues.
Opportunity: Growing semiconductor capital expenditure towards expanding wafer fab capacities. Increasing usage of etching and cleaning chemistries for memory and logic chips.
Threats: Intense competition from local and global players. Stringent safety and quality norms imposed by regulatory bodies.
Around 45-50% of the total market value is concentrated in the Asia Pacific region led by countries like China, Taiwan, South Korea and Japan. This is attributed to presence of a large number of wafer fabs and foundries in the region catering to global as well as domestic demand. The North America region is poised to witness fastest growth during the forecast period supported by expensive semiconductor manufacturing units established by IDMs and OSATs in the US. Government initiatives to boost domestic chip production will further aid regional expansion.
Report in this Language.
About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)