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The market is categorized based on type into semiconductors, acids and solvents, printed circuit boards (PCB), CMP slurries, gases and polymers. The electronics market saw a decline of over 20% due to the economic slowdown in 2008. Lower consumer income and decreasing electronic sales were the primary reasons for this sharp decline. Electronic chemicals are the key elements of modern day electronic equipment and with the expanding electronic market; the demand for electronic chemicals has seen a sharp rise. Technological innovation, which leads to development of newer materials like advanced photo resists and k- dielectrics, is also contributing substantially to the market. North America and Asia Pacific occupy a major chunk of the market share and with the economies in Asia being boosted by China and India, the market is set to witness a steady growth.
The growth is primarily expected in the semiconductor and PCB sectors, and products like gases and acids have not shown much signs of growth. The market for gases is expected to show a very moderate growth, which would indirectly hamper the overall market. The major opportunity lies in this segment, wherein the focus should be on increasing the application areas for gases and acids and help the market grow at a better rate. Also by improving chemical qualities, it would be easier to achieve lower cost and assist in better integration in the current applications. Some of the key players in this market include BASF, Bayer AG, Dow Chemicals, AkzoNobel N.V and others.
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This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
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