Semiconductor Chemical Market worth $21.9 billion by 2028 Globally, at a CAGR of 12.3% says MarketsandMarkets™
Chicago, Dec. 05, 2023 (GLOBE NEWSWIRE) -- The Global *Semiconductor Chemical Market* *is projected to grow from USD 12.2 billion in 2023 to USD 21.9 billion by 2028, registering a CAGR of 12.3% during the forecast period,* as per the recent study by MarketsandMarkets™**. The global Semiconductor chemical market is driven by the ongoing advancements in manufacturing techniques and material innovations have expanded the application scope of advanced ceramics, creating opportunities for novel products and solutions. Additionally, more and more people are purchasing electronic devices, which require semiconductors to function, the market for semiconductor chemicals is expanding. The semiconductor business is also continually creating new technologies, which call for new and improved semiconductor chemicals. Furthermore, as more and more electronic gadgets are purchased in developing nations like China and India, new opportunities are opening for suppliers of semiconductor chemicals. In addition, the demand for semiconductors and semiconductor chemicals is increasing as both the automobile and healthcare sectors expand.
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*Browse in-depth TOC on “Semiconductor Chemical Market”.*
*148 - Market Data Tables
48- Figures
253 - Pages *
*List of Key Players in Semiconductor Chemical Market**:*
1. Tokyo Ohka Kogyo Co., Ltd (Japan)
2. JSR Corp (Japan)
3. BASF SE (Germany)
4. Solvay SA (Belgium)
5. Dow, Inc (Michigan)
6. Others
*Drivers, Restraints, and Opportunities in Semiconductor Chemical Market:*
· *Driver: *Growth in demand for semiconductor chemicals fueled by industries powered by modern technologies
· *Restraint: *Difficulties associated with managing waste generated by semiconductor Chemicals
· *Opportunities: *Development of new Semiconductor materials and Increase focus on sustainability
· *Challenges: *Health risks in semiconductor chemicals manufacturing & stringent governmental regulations
*Key Findings of the Study:*
· Based on type, High performance polymers is projected to account for the second largest share of the Semiconductor chemicals market.
· Based on end-use, Optoelectronics semiconductor chemical end use is projected to account for the second largest share of the Semiconductor chemicals market.
· Based on application, Etching is projected to account for the second largest share of the Semiconductor chemicals market.
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The semiconductor chemical market is expected to continue to grow in the coming years due to the factors mentioned above. The key players in the market are focusing on developing new and innovative products to meet the growing demand. They are also expanding their geographic reach to tap into new markets.Players have adopted different strategies to strengthen their market positions and ensure long-term growth and success.
Founded in 1940, Tokyo Ohka Kogyo Co., Ltd. (TOK) is a company specializing in the manufacturing and sale of chemical and manufacturing materials. TOK has established itself as an R&D-focused enterprise at the forefront of fine chemical development. Over the years, the company has expanded its expertise from high-purity chemicals to cutting-edge high-performance photoresists for photosensitive materials. The Materials segment offers an extensive array of photoresists and high-purity chemicals, essential components extensively utilized in the production of semiconductors, liquid crystal displays (LCDs), semiconductor packaging, and various electronic products. In addition, the Equipment segment encompasses a range of machinery and equipment, including photoresist coating and developing machines crucial in the manufacturing of LCD (Liquid Crystal Display) panels.
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Solvay SA is a prominent player in the manufacturing and distribution of chemical and plastic products. Solvay SA, established by Ernest Solvay in 1863, is headquartered in Brussels, Belgium, and remains a prominent player in the chemical and plastics industry with a global reach and diversified product portfolio. The company's operations are structured into several key segments Solutions, Advanced Materials and Chemicals. The Advanced Materials segment focuses on providing advanced materials suitable for a wide range of applications, notably in the automotive, aerospace, electronics, and health sectors, catering to the evolving needs of these industries. In the Solutions segment, Solvay offers a distinct array of specialized formulations and leverages its application expertise to create customized solutions that impact surface chemistry and liquid behavior.
Founded in 1897, Dow is headquartered in Midland, Michigan,US and continues to be a leading player in the materials science sector. Dow, Inc. is a leading materials science company specializing in the development of innovative solutions. The company operates through three key segments: Packaging and Specialty Plastics, Industrial Intermediates and Infrastructure, and Performance Materials and Coatings. The Packaging and Specialty Plastics segment encompasses hydrocarbons, energy, and packaging, along with specialty plastics.
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