The electronic chemicals and materials market size is projected to grow from USD 48.1 billion in 2020 to USD 64.3 billion by 2025, at a compound annual growth rate (CAGR) of 6.0% during the forecast period. The market growth is reliant on the semiconductor industry, which is affected by the technological advancements in the electronics industry. Along with the increasing demand for circuit boards and memory chips, technologies such as artificial intelligence (AI) are expected to drive the market in the semiconductor industry. The market growth is also attributed to the intense penetration of electric and hybrid cars. The communications industry is expected to grow in the upcoming years because of the introduction of 5G technology, which is projected to drive the electronic chemicals and materials market.
The key players in the electronic chemicals and materials market are Linde plc (Ireland), Air Products and Chemicals (US), Cabot Microelectronics (US), BASF AG (Germany), Hitachi Chemical (Japan), Air Liquide (France), Solvay A.G. (Belgium), Shin-Etsu (Japan), Covestro (France), and Songwon (South Korea). These players have adopted the strategies of expansion, new product development, collaboration, acquisition, agreement, and acquisition to increase their product offerings and expand their geographic presence.
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Linde combined Linde AG and Praxair and formed a new company named Linde PLC. The company is a leading industrial gas and engineering company serving several industries. Linde supplies industrial gases and equipment to the electronics industry through various subsidiaries. The company supplies essential electronic gases to four segments, namely, semiconductor, display, solar, and LED. Praxair serves various industries, such as aerospace & aircraft, automotive & transportation equipment, chemical, energy, and electronics. Linde AG has a worldwide presence with over 230 plants spread in 100 countries across the Americas, Europe, APAC and the Middle East, and Africa.
The company is a leading industrial gas and related equipment company. It serves various industries, such as refining, chemical, metal, electronics, manufacturing, and food & beverage. It offers products under three categories, namely, gases, equipment, services, and solution. The company provides industrial gases, specialty gases, and gas mixtures for electronics, medical, and other industries. It offers equipment for on-site gas generation, cryogenic air separation plants, membrane separators, and systems, and it provides comprehensive services for many industries, including energy and electronics. The company operates more than 750 production facilities in 50 countries, which has resulted in a worldwide presence for the company.
- In September 2020, Air Products announced that it has been awarded a contract to supply liquid nitrogen to one of the leading memory and storage solutions company in Penang, North Malaysia. This will further strengthen its position in the electronics industry.
- In January 2020, BASF announced that it would invest in increasing the production capacity of methane sulfonic acid due to the growing demand. Methane sulfonic acid is used in the electronic industry for cleaning and metal surface treatment.
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