At 5.8% CAGR, North America Electronic Chemicals Market is Projected to be Worth US$ 13,273.91 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the North America electronic chemicals market was valued at US$ 8,453.64 million in 2022 and is expected to reach US$ 13,273.91 million by 2030, registering a CAGR of 5.8% from 2022 to 2030. Adoption of nanotechnology in electronic devices and emerging applications in renewable energy are among the critical factors attributed to drive the North America electronic chemicals market growth.

Nanotechnology has enabled the development of nanoelectronic devices and components, such as nanoscale transistors, nanowire-based sensors, Organic light-emitting diodes, electronic paper, and quantum dot displays. These nanoelectronic devices have the potential to overcome the drawbacks of conventional silicon-based electronics and offer a promising future for sensor technology. It has a wide range of applications in flexible electronic devices such as wearable technology, flexible displays, and biomedical devices. Nanotechnology is also utilized in various devices such as digital cameras, televisions, mobile phones, computers, and laptops. In October 2023, Teledyne Technologies launched a nano-drone with upgraded sensors. The device is integrated with a daytime camera, a thermal imager, and a software-defined data system. In 2021, Somalytics Inc launched two nano-based capacitive sensors-the SomaControl gesture monitor and the SomaSense 3D floor mat. Electronic chemicals are used to synthesize nanomaterials using sol-gel processes or electrochemical deposition. Nanomaterials require specific surface chemistries to enhance sensitivity, selectivity, and stability. Thus, electronic chemicals are used to functionalize the surface of nanomaterials. Therefore, the adoption of nanotechnology in electronic devices is anticipated to create research opportunities in the electronic chemicals market during the forecast period.

On the contrary, stringent environmental and regulatory requirements hampers the growth of North America electronic chemicals market.

Based on product type, the North America electronic chemicals market is categorized into CMP slurries, photoresist chemicals, wet chemicals, acids, and others. The wet chemicals segment held 29.1% market share in 2022, amassing US$ 2,457.75 million. It is projected to garner US$ 3,991.28 million by 2030 to register 6.2% CAGR during 2022-2030.

In terms of end use, the North America electronic chemicals market is segmented into semiconductors, flat panel displays, printed circuit boards, photovoltaics, and others. The semiconductors segment held 30.0% share of North America electronic chemicals market in 2022, amassing US$ 2,537.75 million. It is anticipated to garner US$ 4,306.98 million by 2030 to expand at 6.8% CAGR during 2022-2030.

Based on country, the North America electronic chemicals market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 84.3% share of North America electronic chemicals market in 2022. It was assessed at US$ 7,124.58 million in 2022 and is likely to hit US$ 11,367.26 million by 2030, registering a CAGR of 6.0% during 2022-2030.

Key players operating in the North America electronic chemicals market are FUJIFILM Holdings Corp, Songwon Industrial Co Ltd, PVS Chemical Solutions Inc, Hitachi High-Tech Corp, Solvay SA, BASF SE, Linde Plc, Honeywell International Inc, RBP Chemical Technology Inc, and Esprix technologies LP, among others.

• In November 2021, Songwon Industrial Co Ltd increased its chemical production capacity for semiconductors. The significant demand for high-end specialty chemicals and raw materials for the IT industries will be met by SONGWON's capacity increase investment in the primary chemicals used in semiconductor production.
  
  
• In June 2023, PVS Chemical Solutions Inc acquired the stock of Houston-based DX Holding Company Inc, a manufacturer of industrial chemical products and water treatment chemicals. Both companies create similar products, and their combined efforts will result in a wider footprint across the US.

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