Semiconductor Chemical Market to reach USD 28.1 billion in 2030, at a CAGR of 13.2%

The Semiconductor Chemical Market was valued at USD 12.3 billion in 2023-e, and is projected to grow at a CAGR of 13.2% through 2030 to reach USD 28.1 billion. Advanced semiconductor devices are often made with new semiconductor materials such as gallium nitride (GaN) and silicon carbide (SiC), which require different semiconductor chemistries than traditional semiconductor materials. Consumer electronics such as smartphones, laptops, and televisions are becoming increasingly sophisticated and require more powerful semiconductor components. For example, AI chips are used in smartphones for tasks such as facial recognition and natural language processing. ML chips are used in televisions for tasks such as image and video processing.

High-performance polymers play a crucial role in the semiconductor industry. These polymers are used in various applications, contributing to the performance and reliability of semiconductor devices. High-performance polymers with excellent thermal conductivity are employed as TIMs to enhance heat dissipation in semiconductor devices. These polymers play a vital role in advancing the capabilities and reliability of semiconductor devices.

Semiconductors play a crucial role in optoelectronic devices, enabling the conversion of electrical signals to optical signals (and vice versa). LEDs are semiconductor devices that emit light when an electric current is applied. They are widely used in optoelectronics for various applications, including displays, indicator lights, and as light sources in fiber optics for communication. Photodiodes are semiconductor devices that generate an electrical current when exposed to light. They are commonly used in light detectors, solar cells, and optical communication systems. They are integral in optical communication systems for transmitting data using light signals.

Growing demand for electronics in Asian countries such as China, India, and Japan, is increasing the usage of semiconductor chemicals. 101 Chinese-listed semiconductor companies announced net profits in their yearly sales in 2022 due to the lucrative demand from both domestic and international markets, indicating a positive direction for the semiconductor chemicals industry. According to the PLI scheme, the government will likely offer incentives as manufacturers increase production in India, which is expected to be USD 5.5 billion by 2025. This is likely to boost the production of electronics in the country, thereby driving the market for semiconductor chemicals. According to the Indian Electronics and Semiconductor Association, the semiconductor market in the country is expected to be worth USD 64 billion by 2026. The Make in India initiative by the government is expected to result in increasing investments in the semiconductor industry.

The market is highly competitive with major players operating in the market. Some prominent players in the global Semiconductor Chemical market are Air Products and Chemicals, Avantor, BASF, Cabot Microelectronics, Dow, Eastman Chemical Company, Entegris, FUJIFILM, Honeywell, JSR, DuPont, Merck, Solvay, Sumitomo Chemical, Tokyo Ohka Kogyo.