Electronic chemicals and materials are high-purity products that have numerous electronic applications. Best examples of electronic chemicals include wet chemicals, gases, solvents, acids, and such other products. The materials mainly include laminates and wafers. Growth in the semiconductor and such other applications of both these products are expected to create strong growth prospects for the global electronic materials market. The global industries specializing in both these products are aiming at impressive growth with constant demand and advancing technology in their respective applications ad characteristics. As a result, the existing businesses in this market are expected to come across numerous development activities across different parts of the world.
Segmentation in Electronic Materials Industry
The global market is segmented on the basis of the types of products, their applications, forms, and demand that these products witness across different geographic regions. The types of products in the electronic materials market include PCB laminate, silicon wafers, specialty gases, photo-resist and such other products. These materials are available in gaseous, liquid as well as solid forms. Major applications of these products are witnessed in semiconductor, PCB and IC industries. Rapid advancements in the applications and end user segments are expected provide vital traction to the global market, looking for better investment opportunities across the world.
What Drives the Market?
According to the experts, growing demand from different end user industries is a major driver for the global market. Apart from the rising demand, the market is also witnessing significant growth with technological advancements. These advancements are improving the applications segment of the electronic materials market. Innovation in terms of advanced products and their viable applications are also expected to create potential business opportunities in the global market. Growth in the research and development activities in the industry is also expected to drive the business opportunities for the electronic materials market. Changing demand patterns in the electronic components industry are also creating massive business opportunities in the market.
What to Expect?
According to the experts, the global electronic materials market is expected to grow at a steady compound annual growth rate. As per the researchers, the global industry will reach past $59 billion by the end of the year 2019, at a CAGR of over 6%. Asia Pacific region is expected to be the strongest growing geographic segment of the market, which is expected to be followed by other regions. Rest of the world (RoW) region is expected to witness maximum traction in terms of growth rate and end user markets.