As per the research, the Electronic Materials and Chemicals Market was valued at USD 66.82 billion in 2023 and is projected to reach USD 106.98 billion by 2031, growing at a CAGR of 6.1% during the forecast period 2024-2031.
The electronic materials and chemicals market is experiencing strong momentum in the US and Europe, driven by increasing demand from the semiconductor, display, and energy sectors. With technological advancement and increased investments in microelectronics, the market is gaining critical importance in both consumer and industrial applications.
Countries across North America and the European Union are aggressively investing in domestic semiconductor production to reduce dependency on foreign supply chains. As a result, the demand for high-purity chemicals, photoresists, and advanced packaging materials is surging. The market’s growth is supported by strategic government initiatives such as the CHIPS Act in the US and the EU Chips Act, creating new opportunities for regional players.
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Key Players
The major key players are BASF, Air Products & Chemicals Inc., Albemarle Corporation, Air Liquide Holdings Inc., Ashland Inc., Bayer Ag, Linde Group, Honeywell International Inc., Cabot Microelectronics Corporation, Dow Chemical Company, Monsanto Electronic Materials Co., Hitachi Chemical Company, Brewer Science, Sumitomo Chemical, Shin-Etsu, Covestro, AZ Electronic Materials Plc, HD Microsystems, Drex-Chem Technologies, and other key players are mentioned in the final report.
Key Highlights:
- The market is expected to grow at a CAGR of 6.1% from 2024 to 2031.
- Silicon wafers, CMP slurries, and photoresists are major segments propelling demand.
- The US and Europe are investing heavily in semiconductor self-sufficiency.
- Automotive electronics and renewable energy are key end-use sectors driving expansion.
- Growing adoption of AI, IoT, and 5G technologies is accelerating the need for advanced electronic materials.
- Supply chain localization in the West is creating demand for regional suppliers and manufacturers.
- Environmental regulations are fostering the development of eco-friendly materials in the market.
Future Scope
The future of the electronic materials and chemicals market in the US and Europe looks promising, with strong policy backing and innovation. The integration of advanced technologies such as artificial intelligence, robotics, and quantum computing will demand more specialized and high-performance materials. The rise in electric vehicles and renewable energy systems is also set to create a ripple effect, expanding the application of these materials beyond traditional electronics. Additionally, the focus on sustainability is encouraging R&D in biodegradable and recyclable materials, opening new revenue streams for both startups and established firms.
Conclusion
With accelerating digital transformation and increasing geopolitical emphasis on semiconductor sovereignty, the electronic materials and chemicals market in the US and Europe is entering a golden era. Stakeholders across the value chain—from raw material suppliers to end-device manufacturers—stand to benefit from this shift, as innovation and investment continue to reshape the landscape.
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