Electronic Materials and Chemicals Industry Growth, Forecasts Till, 2013 - 2024

Electronic Materials and Chemicals Market size is expected to value at USD 81.05 billion by 2024. The market is subject to witness a substantial growth due to the growing demand from manufacturing sector for production of semiconductors, flat panel displays, and photolithographic printing. In addition, declining cost of electronic equipment and improved standards of living across the globe are expected to fuel the market growth of electronic materials and chemicals over the forecast period.

Massive demand for semiconductors materials in manufacturing of mobile phones, electronic chips and integrated circuits is anticipated to foster market growth in the upcoming years. Globally, the electronic materials and chemicals industry is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the market.

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Substantial growth in electrical & electronics sector coupled with increase in industrial production are anticipated to fuel the growth of electronic materials & chemicals market over the forecast period. Rapid pace of macroeconomic cycles is a key for market expansion in the last decade. Increasing number of small & medium-sized enterprises SMEs in developing economies across Asia-Pacific and Latin America is playing crucial role for the success of electronic materials and chemicals industry since last couple of years. Recent technological advancement in the semiconductor industry is expected to offer lucrative growth avenues for industry players, in the recent years.

Growing manufacturing activities in the North America region is also leading to the increasing production of electrical & electronic appliances, thus driving market expansion in the last few years. Additionally, rising investment by prominent market players across the globe in capacity expansion as well as modernization of existing manufacturing facilities in order to generate excess of revenues and gain competitive edge over other organizations, are positively impacting market growth over the forecast period.

Some of the key raw materials that are required for production of the electronic materials & chemicals include silicon, copper, nickel, and specialty gasses. Semiconductor and integrated circuits is one of the largest end-user segment in the electronic materials & chemicals industry that holds massive market share. Printed circuit boards (PCB), which are important components of integrated chip technology and is adopted in various consumer electronic appliances.