InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global Electronic Chemicals CDMO Market – (By Type (Metals and Pastes, Electronic Specialty Gases, Polymer Compounds, Others), By Application (Battery, Semiconductor, Integrated Circuit, Consumer Electronics, Others)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031.”
According to the latest research by InsightAce Analytic, the Global Electronic Chemicals CDMO Market is expected to grow with a CAGR of 8.3% during the forecast period of 2024-2031.
The electronic chemicals CDMO market comprises companies that offer contract services for creating and producing certain chemicals utilized in electronics due to the ever-increasing demand for smart devices and consumer goods. In addition, technological breakthroughs push the electronic chemicals industry forward, and government backing in growing nations is expected to boost the growth of the global electronic chemicals CDMO market. Moreover, developing more sophisticated sensors and diagnostic tools for use in automobiles and healthcare equipment is increasing the demand for specialized electronic chemicals, which is growing the market for electronic chemicals CDMOs. However, stricter environmental and safety requirements could limit the growth of the electronic chemicals CDMO market. The growing need for electronic gadgets, such as electric vehicles, smartphones, computers, and the Internet of Things, drives the demand for electronic chemicals. The main factors propelling the electronic chemicals CDMO industry are leading to an increase in market expansion.
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List of Prominent Players in the Electronic Chemicals CDMO Market:
- Otsuka Chemical
- Solvias
- Inventys Research Company
- FUJFILM
- Cohance Lifesciences
- Astena Holdings
- Shin-Etsu
- Covestro
- Songwon
- Actylis
- ARBROWN Global
- Asahi Glass Co
- Eurofins CDMO Alphora Inc
- Sajjan India Limited
- SUMITOMO Chemical
- Others
Market Dynamics:
Drivers:
A growing number of medical devices and technological progress are key factors expected to drive the market’s growth due to the widespread acceptance of nanomaterials. Global acceptance of nano-devices has been facilitated by their diminutive size, reduced weight, less energy consumption, and decreased production costs. There have been several technical developments in resist and photoresist additional services that have increased their market potential because nano-based products have recently been commercialized, and a growing number of medical and automotive electronic devices, such as sensors and diagnostic tools, are increasing demand for electronic chemicals CDMO, is driving the worldwide electronic chemicals CDMO market. Additionally, electronic chemicals are essential to the semiconductor industry’s growth, which is, in turn, driven by the increasing demand for chips in a wide range of applications, which also contributes to expanding the global electronic chemicals CDMO market.
Challenges:
Because of the rapid development of electronic chemicals, certain chemicals are becoming obsolete quickly, necessitating producers to constantly innovate and adapt. This rapid change can be an enormous challenge for businesses that can’t adapt quickly enough. There has been a dramatic decrease in the price of memory chips and data centres because cloud storage has become popular. The drastic decrease in the need to physically store data has led to a downturn in the production of memory chips. Due to the time needed to adjust to new technologies, smaller players could witness a drop in profitability. Because mobile device usage is rising, integrated circuit and semiconductor sizes are shrinking; thus, high-precision, high-quality materials used in semiconductor manufacture are essential for optimal results. Due to significant capital expenses, product prices tend to rise when new items are introduced because of investments in infrastructure. Due to this, the electronic chemicals CDMO market can view a decline in acceptance during the next few years.
Regional Trends:
The North American electronic chemicals CDMO market is expected to register a large market share in revenue. It is projected to grow at a high CAGR in the near future. The strong electronics and tech industries and state-of-the-art production capacities are expected to grow the region’s electronic chemicals CDMO market. Besides, Europe has a substantial share of the electronic chemicals market. CDMOs are in high demand due to the region’s robust consumer and industrial markets, which influence the need for several types of electrical gadgets driving the market. Moreover, the development of the regional market is boosted by the North American chemical industry, governed by extremely stringent environmental and safety laws, and the presence of prominent players, which could lead to an increase in demand for electronic chemicals CDMO worldwide.
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Recent Developments:
- In Oct 2023, FUJIFILM Corporation declared the successful conclusion of its $700 million acquisition of Entegris, Inc.’s (Entegris) electronic chemicals business. The name change of the organization to FUJIFILM Electronic Materials Process Chemicals. Twelve additional sites were acquired along with a comprehensive product line in electronic chemicals, 593 talented employees, and seven manufacturing locations in Europe, the United States, and Singapore; one of these sites became Fujifilm’s inaugural electronic materials manufacturing site in Southeast Asia.
- In August 2023, Covestro and HiPhi revealed a collaborative lab to develop environmentally friendly materials and smart transportation solutions.
- In November 2023, Eurofins Genoma introduced niPGT-A, a novel preimplantation genetic aneuploidy screening test. This test is non-invasive and does not require embryo biopsy.
Segmentation of Electronic Chemicals CDMO Market-
By Type-
- Metals and Pastes
- Electronic Specialty Gases
- Polymer Compounds
- Others
By Application-
- Battery
- Semiconductor
- Integrated Circuit
- Consumer Electronics
- Others
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
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