Semiconductor Chemicals Market To Generate $28.3 Billion Revenue by 2030

The semiconductors chemicals market size is expected to advance at a CAGR of 12.5% during 2024–2030, to reach USD 28.3 billion by 2030. This is ascribed to the growing production of semiconductors because of technological advancements across industries. The advanced technologies now penetrating almost every aspect of human life include artificial intelligence, internet of things, and AR/VR, all of which require semiconductors.

Moreover, across the world, the adoption of nano devices is growing because of their low weight, less power consumption, and reduced cost of fabrication. Further, the increasing usage of tablets, cell phones, and computers has significantly increased the growth potential of the market. Silicon nanochips are used widely in wearable and implantable electronics, bendable displays, and other modern products. These chips are, in turn, the starting material for almost every semiconductor component, including ICs, transistors, resistors, and diodes.

In addition, the growing usage of wireless computing devices is one of the major factors propelling the market. All modern devices that utilize semiconductors, be it data centers, mobile devices, or IoT systems, need to use as little electricity as possible. This has shifted the focus toward efficient wafer manufacturing processes and the usage of sustainable chemicals and materials.

Moreover, under government pressure, all industries are shifting toward environment-friendlier and more-sustainable processes and products. The novel approaches include the recycling of waste, minimization of the usage of hazardous materials, and use of renewable energy in manufacturing facilities. Therefore, semiconductor components are being recycled and reused to adhere to the concept of circular economy and reduce waste.

North America Is Growing Significantly in Market

North America is growing in the market, at a CAGR of 12.6%, attributed to the booming automotive and consumer electronics industries. The presence of key players is also expected to propel the market over the coming years. Within the continent, the market in the U.S. is growing at a good pace, because of the rapid adoption of advanced technologies and fast digital transformation in various industries, such as healthcare, telecommunications, automotive, electronics, manufacturing, and BFSI. The emerging technologies that enable digitization, such as artificial intelligence (AI), machine learning (ML), and the Internet of Things (IoT), rely on powerful semiconductor components.

Further, the rollout of 5G networks, which is also important for digital transformation, requires a substantial investment in semiconductor components to support increased data speeds and more-extensive connectivity. Furthermore, the automotive industry in the country is undergoing a significant transformation with the integration of advanced electronics, connectivity, and autonomous features, thus propelling the demand for semiconductors.

The market in the Asia-Pacific region is also expected to expand rapidly throughout the forecast period. The rising demand for printed circuit boards across the consumer products, gaming, and IT and telecommunications industries is expected to boost the consumption of the chemicals used in their production. Moreover, the presence of various key companies offering electronic materials and chemicals in India and China drives the growth of the market.

The most-significant semiconductor chemicals market players are Honeywell International Inc., The Dow Chemical Company, BASF SE, Solvay S.A., JSR Corporation, Fujifilm Holdings Corporation, Capchem, Mitsubishi Chemical Corporation, and Daikin Industries Ltd.