Asia Pacific Electronic Chemicals Market Forecast to 2030
Asia Pacific Electronic Chemicals Market Forecast to 2030 – Regional Analysis – by Product Type (CMP Slurries, Photoresist Chemicals, Wet Chemicals, Acids, and Others) and End Use (Semiconductors, Flat Panel Displays, Printed Circuit Boards, Photovoltaics, and Others)
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Description
Emerging Applications in Renewable Energy Boost Asia Pacific Electronic Chemicals Market
Electronics are essential components of solar photovoltaic (PV) systems. Monitoring systems with electronic sensors and communication modules enable real-time performance monitoring and remote management of solar photovoltaic systems. Power converters, pitch control systems, and grid-tie converters are used to convert variable wind energy into stable AC electricity. Electronic components such as sensors, actuators, and control algorithms optimize turbine performance. Moreover, electronic components are used in energy storage systems and smart grid technologies. Electronics are the major contributors to the electric vehicle charging infrastructure, which supports the adoption of renewable energy-powered electric vehicles. According to the Chinese government report published in 2023, the number of charging stations for electric vehicles increased at a rapid pace in China in 2022. China reported the presence of 5.21 million charging stations by the end of 2022, including more than 2.59 million built in 2022. According to the International Energy Agency 2023 report, the renewable power capacity is expected to increase in the next five years, of which solar PV and wind energy accounted for 96% of power capacity, as their power generation costs are lower than fossil and non-fossil alternatives. Solar PV and wind energy capacity are forecast to double by 2028 compared to 2022. The continuous growth in the economic attractiveness of PV and increasing government policy support, especially in China, the US, the European Union, and India, are expected to further accelerate capacity growth in the coming years. Thus, the emerging applications of electronics in renewable energy is further expected to create lucrative opportunities for the electronic chemicals market.
Asia Pacific Electronic Chemicals Market Overview
Electronics and semiconductor manufacturing in Asia Pacific has been a major driver of global trade. Asia Pacific is a global hub for the production and export of technical consumer goods-including consumer electronics such as laptops, desktops, cellphones, radio sets, sound systems, and televisions-and other essential electronic parts and domestic appliances. The increase in the number of on-fleet vehicles in Asian countries such as China, India, and South Korea is propelling the demand for PCBs and semiconductors. China is one of the high-skilled manufacturing hubs, whereas India, South Korea, and Taiwan are considered attractive business destinations for electronics companies looking for medium-skilled manufacturing infrastructure and low labor costs. According to the International Organization of Motor Vehicle Manufacturers report, motor vehicle production in Asia Pacific was estimated to be ~46.73 million units in 2021. As battery technology continues to improve, Asia Pacific is expected to become a key hub for electric vehicle production. China has emerged as one of the largest electric vehicle markets globally, supported by government policies promoting electric vehicles. According to a report released by the China Passenger Car Association (CPCA), in 2022, Tesla Inc delivered 83,135 made-in-China electric vehicles, indicating growth in sales of electric vehicles from 2021. Thus, the growth in consumer electronics and the electric vehicle industry is projected to drive the demand for electronic chemicals.
Asia Pacific Electronic Chemicals Market Revenue and Forecast to 2030 (US$ Million)
Asia Pacific Electronic Chemicals Market Segmentation
The Asia Pacific electronic chemicals market is segmented into product type, end use, and country.
Based on product type, the Asia Pacific electronic chemicals market is categorized into CMP slurries, photoresist chemicals, wet chemicals, acids, and others. The wet chemicals segment held the largest market share in 2022.
In terms of end use, the Asia Pacific electronic chemicals market is segmented into semiconductors, flat panel displays, printed circuit boards, photovoltaics, and others. The semiconductors segment held the largest market share in 2022.
By country, the Asia Pacific electronic chemicals market is segmented into China, Australia, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific electronic chemicals market share in 2022.
FUJIFILM Holdings Corp, Songwon Industrial Co Ltd, PVS Chemical Solutions Inc, Hitachi High-Tech Corp, Solvay SA, BASF SE, Linde Plc, Honeywell International Inc, RBP Chemical Technology Inc, and Esprix technologies LP are some of the leading companies operating in the Asia Pacific electronic chemicals market.
Summary Info
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According toThe Research Team’ research, the Asia Pacific electronic chemicals market was valued at US$ 28,725.15 million in 2022 and is expected to reach US$ 48,670.44 million by 2030, registering a CAGR of 6.8% from 2022 to 2030. Rising demand for flat-panel displays and growth of semiconductor industry are among the critical factors attributed to drive the Asia Pacific electronic chemicals market growth.
Flat-panel displays such as liquid crystal displays, organic light-emitting diode displays, and microLED displays require sophisticated manufacturing processes that rely on electronic chemicals. These chemicals are used for cleaning, patterning, coating, encapsulation, and surface treatment steps to fabricate various layers and components of flat-panel displays. Cleaning agents such as solvents, surfactants, and etchants are used to remove contaminants, particles, and residues from glass substrates and semiconductor layers. The increasing adoption of smartphones, tablets, televisions, digital signage, and automotive displays has fueled the demand for flat-panel displays. The demand for high-definition television and computer monitors with large screen sizes and high resolution is rising. The automotive industry is integrating flat-panel displays into vehicle dashboards, infotainment systems, instrument clusters, and rear-seat entertainment systems. Automotive displays provide navigation information and connectivity features that cater to consumer preferences for in-car technology. A Bureau of Transportation Statistics report stated that China is one of the dominant markets for producing passenger cars and commercial vehicles. As per the International Organization of Motor Vehicle Manufacturers report, in 2021, automobile manufacturers in Asia Pacific produced ~46.73 million units of motor vehicles. The report also revealed that motor vehicle production in Japan reached 7.83 million units in 2022.
Therefore, the rising demand for flat-panel displays is driving the demand for electronic chemicals.
On the contrary, stringent environmental and regulatory requirements hampers the growth of Asia Pacific electronic chemicals market.
Based on product type, the Asia Pacific electronic chemicals market is categorized into CMP slurries, photoresist chemicals, wet chemicals, acids, and others. The wet chemicals segment held 27.6% market share in 2022, amassing US$ 7,924.84 million. It is projected to garner US$ 13,873.34 million by 2030 to register 7.3% CAGR during 2022-2030.
In terms of end use, the Asia Pacific electronic chemicals market is segmented into semiconductors, flat panel displays, printed circuit boards, photovoltaics, and others. The semiconductors segment held 27.9% share of Asia Pacific electronic chemicals market in 2022, amassing US$ 8,000.07 million. It is anticipated to garner US$ 14,586.77 million by 2030 to expand at 7.8% CAGR during 2022-2030.
Based on country, the Asia Pacific electronic chemicals market is categorized into China, Australia, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 47.0% share of Asia Pacific electronic chemicals market in 2022. It was assessed at US$ 13,491.80 million in 2022 and is likely to hit US$ 23,980.41 million by 2030, registering a CAGR of 7.5% during 2022-2030.
Key players operating in the Asia Pacific electronic chemicals market are FUJIFILM Holdings Corp, Songwon Industrial Co Ltd, PVS Chemical Solutions Inc, Hitachi High-Tech Corp, Solvay SA, BASF SE, Linde Plc, Honeywell International Inc, RBP Chemical Technology Inc, and Esprix technologies LP, among others.
In December 2022, FUJIFILM Corp planned to build a new advanced semiconductor materials manufacturing facility in South Korea to develop its electronic materials business. The new facility in South Korea will be the company’s second manufacturing site for semiconductor materials in the country.
In September 2023, Solvay launched its electronic-grade hydrogen peroxide joint venture, Shinsol Advanced Chemicals, in Tainan, Taiwan. The plant, covering an expansive 2.4 hectares, has an annual production capacity of 35,000 tons of high-purity hydrogen peroxide, primarily serving the semiconductor sector. The plant is expected to be commissioned in December and start full-scale production in early 2023.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific electronic chemicals market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the Asia Pacific electronic chemicals market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.
1. Introduction
1.1 The Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Electronic Chemicals Market Landscape
4.1 Overview
4.2 Porter’s Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. Asia Pacific Electronic Chemicals Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growth of Semiconductor Industry
5.1.2 Rising Demand for Flat-Panel Displays
5.2 Market Restraints
5.2.1 Stringent Environmental and Regulatory Requirements
5.3 Market Opportunities
5.3.1 Emerging Applications in Renewable Energy
5.4 Future Trends
5.4.1 Adoption of Nanotechnology in Electronic Devices
5.5 Impact of Drivers and Restraints:
6. Electronic Chemicals Market – Asia Pacific Analysis
6.1 Asia Pacific Electronic Chemicals Market Revenue (US$ Million), 2020-2030
6.2 Asia Pacific Electronic Chemicals Market forecast Analysis
7. Asia Pacific Electronic Chemicals Market Analysis – By Product Type
7.1 CMP Slurries
7.1.1 Overview
7.1.2 CMP Slurries: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million)
7.2 Photoresist Chemicals
7.2.1 Overview
7.2.2 Photoresist Chemicals: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million)
7.3 Wet Chemicals
7.3.1 Overview
7.3.2 Wet Chemicals: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million)
7.4 Acids
7.4.1 Overview
7.4.2 Acids: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million)
7.5 Others
7.5.1 Overview
7.5.2 Others: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million)
8. Asia Pacific Electronic Chemicals Market Analysis – By End Use
8.1 Semiconductors
8.1.1 Overview
8.1.2 Semiconductors: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million)
8.2 Flat Panel Displays
8.2.1 Overview
8.2.2 Flat Panel Displays: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million)
8.3 Printed Circuit Boards
8.3.1 Overview
8.3.2 Printed Circuit Boards: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million)
8.4 Photovoltaics
8.4.1 Overview
8.4.2 Photovoltaics: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million)
9. Asia Pacific Electronic Chemicals Market – Country Analysis
9.1 Asia Pacific Market Overview
9.1.1 Asia Pacific: Electronic Chemicals Market Breakdown, by Key Country, 2022 and 2030 (%)
9.1.1.1 Asia Pacific: Electronic Chemicals Market – Revenue and forecast Analysis – by Country
9.1.1.2 Australia: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million)
9.1.1.2.1 Australia: Electronic Chemicals Market Breakdown, by Product Type
9.1.1.2.2 Australia: Electronic Chemicals Market Breakdown, by End Use
9.1.1.3 China: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million)
9.1.1.3.1 China: Electronic Chemicals Market Breakdown, by Product Type
9.1.1.3.2 China: Electronic Chemicals Market Breakdown, by End Use
9.1.1.4 India: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million)
9.1.1.4.1 India: Electronic Chemicals Market Breakdown, by Product Type
9.1.1.4.2 India: Electronic Chemicals Market Breakdown, by End Use
9.1.1.5 Japan: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million)
9.1.1.5.1 Japan: Electronic Chemicals Market Breakdown, by Product Type
9.1.1.5.2 Japan: Electronic Chemicals Market Breakdown, by End Use
9.1.1.6 South Korea: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million)
9.1.1.6.1 South Korea: Electronic Chemicals Market Breakdown, by Product Type
9.1.1.6.2 South Korea: Electronic Chemicals Market Breakdown, by End Use
9.1.1.7 Rest of Asia Pacific: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million)
9.1.1.7.1 Rest of Asia Pacific: Electronic Chemicals Market Breakdown, by Product Type
9.1.1.7.2 Rest of Asia Pacific: Electronic Chemicals Market Breakdown, by End Use
10. Competitive Landscape
10.1 Heat Map Analysis by Key Players
10.2 Company Positioning & Concentration
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Merger and Acquisition
12. Company Profiles
12.1 FUJIFILM Holdings Corp
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Songwon Industrial Co Ltd
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 PVS Chemical Solutions Inc
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Hitachi High-Tech Corp
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Solvay SA
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 BASF SE
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Linde Plc
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Honeywell International Inc
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 RBP Chemical Technology Inc
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Esprix Technologies LP
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Research Team
Table 1. Asia Pacific Electronic Chemicals Market Segmentation
Table 2. List of Vendors
Table 3. Asia Pacific Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million)
Table 4. Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million) – by Product Type
Table 5. Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million) – by End Use
Table 6. Asia Pacific: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million) – by Country
Table 7. Australia: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million) – by Product Type
Table 8. Australia: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million) – by End Use
Table 9. China: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million) – by Product Type
Table 10. China: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million) – by End Use
Table 11. India: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million) – by Product Type
Table 12. India: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million) – by End Use
Table 13. Japan: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million) – by Product Type
Table 14. Japan: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million) – by End Use
Table 15. South Korea: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million) – by Product Type
Table 16. South Korea: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million) – by End Use
Table 17. Rest of Asia Pacific: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million) – by Product Type
Table 18. Rest of Asia Pacific: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million) – by End Use
Figure 1. Asia Pacific Electronic Chemicals Market Segmentation, by Country
Figure 2. Electronic Chemicals Market – Porter’s Analysis
Figure 3. Ecosystem Analysis: Electronic Chemicals Market
Figure 4. Electronic Chemicals Market – Key Market Dynamics
Figure 5. Impact Analysis of Drivers and Restraints
Figure 6. Asia Pacific Electronic Chemicals Market Revenue (US$ Million), 2020-2030
Figure 7. Electronic Chemicals Market Share (%) – by Product Type (2022 and 2030)
Figure 8. CMP Slurries: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million)
Figure 9. Photoresist Chemicals: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million)
Figure 10. Wet Chemicals: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million)
Figure 11. Acids: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million)
Figure 12. Others: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million)
Figure 13. Electronic Chemicals Market Share (%) – by End Use (2022 and 2030)
Figure 14. Semiconductors: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million)
Figure 15. Flat Panel Displays: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million)
Figure 16. Printed Circuit Boards: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million)
Figure 17. Photovoltaics: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million)
Figure 18. Others: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million)
Figure 19. Asia Pacific Electronic Chemicals Market Revenue, By Key Country, (2022) (US$ Million)
Figure 20. Asia Pacific: Electronic Chemicals Market Breakdown, by Key Countries, 2022 and 2030 (%)
Figure 21. Australia: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million)
Figure 22. China: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million)
Figure 23. India: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million)
Figure 24. Japan: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million)
Figure 25. South Korea: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million)
Figure 26. Rest of Asia Pacific: Electronic Chemicals Market – Revenue and forecast to 2030 (US$ Million)
Figure 27. Heat Map Analysis by Key Players
Figure 28. Company Positioning & Concentration
The List of Companies – Asia Pacific Electronic Chemicals Market
o FUJIFILM Holdings Corp
o Songwon Industrial Co Ltd
o PVS Chemical Solutions Inc
o Hitachi High-Tech Corp
o Solvay SA
o BASF SE
o Linde Plc
o Honeywell International Inc
o RBP Chemical Technology Inc
o Esprix technologies LP
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