Electronic Chemicals and Materials Market

Linde Plc (England), Fujifilm Corporation (Japan) are Leading Players in the Electronic Chemicals and Materials Market

The electronic chemicals and materials market size is projected to grow from USD 59.1 billion in 2023 and is projected to reach USD 77.8 Billion by 2028, at a CAGR of 5.6% during the forecast period. The growth of the electronic chemicals and materials market hinges on the semiconductor industry, which, in turn, is influenced by technological advancements in electronics. Rising demand for circuit boards and memory chips, as well as the adoption of technologies like artificial intelligence (AI), are expected to propel the semiconductor industry forward. Additionally, the market is benefiting from the increasing prevalence of electric and hybrid vehicles. The communications sector is also poised for growth, driven by the rollout of 5G technology, which is anticipated to boost the electronic chemicals and materials market.

The key market players are Shin-Etsu Chemical Co., Ltd.  (Japan), Linde Plc (England), Fujifilm Corporation (Japan), Resonac Holding Corporation (Japan), Air Liquide (Paris), Solvay (Belgium), BASF SE(Germany), Mitsui Chemicals America, Inc. (US), Merck KGaA (Germany), Covestro AG (Germany), SUMCO Corp. (Japan), Air Products & Chemicals, Inc. (US), and Songwon (South Korea) among others. These players have adopted various strategies, such as merger & acquisition, investment & expansion, new product launch, and contract & agreement between 2018 and 2023, to enhance their market shares and expand their global presence.

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Linde plc is a leading player in the industrial gas sector, renowned for its innovative technologies. Its core offerings encompass atmospheric gases like, nitrogen, argon, oxygen and rare gases, alongside process gases such as carbon dioxide (Liquid), helium, hydrogen, electronic gases, specialty gases, and acetylene. Beyond product provision, Linde Plc excels in equipment design, engineering, and construction for gas production, complemented by an extensive array of gas-related services. Its clientele spans diverse sectors like healthcare, chemicals, semiconductor, energy, manufacturing, metals, mining, food, beverages, and electronics. With an extensive infrastructure comprising production plants, pipeline networks, distribution hubs, and delivery fleets, Linde serves global markets, with major pipeline complexes strategically situated in key regions like the United States and China.

Fujifilm Corporation engages in the development, production, sales and service of imaging, information, and healthcare products. It operates through the segments- Healthcare (medical systems, consumer healthcare, supplements, pharmaceuticals, bio CDMO, and regenerative medicine), Materials (advanced materials, graphic systems & inkjets, and recording media), and Imaging (photo imaging, optical device and electronic imaging). The company sells electronic materials, display materials, industrial products, and graphic communication materials under its Material segment. Photoresists are offered under electronic materials subcategory. The company has operations and office locations worldwide in North America, Latin America, Europe, Middle East, Africa, Asia, and Oceania. The company is headquartered in Tokyo, Japan..

Resonac Holdings Corporation Resonac Holdings Corporation specializes in the production and sale of chemical products, operating across five distinct segments: Semiconductor and Electronic Materials, Mobility, Innovation Enabling Materials, Chemicals, and Others. Within the Semiconductor and Electronic Materials segment, the company offers Hard Disk (HD) media and SiC epitaxial wafers, dividing its operations into Semiconductor Materials, Device solutions (HD), and Device solutions (SiC). This segment caters to both front-end and back-end semiconductor needs, providing electronic chemicals, materials for mechanical semiconductor planarization (CMP slurry), die bonding materials, copper clad laminates, epoxy molding compounds, photosensitive solder resist, and photosensitive dry film. Notable products for Device solutions include hard disk media, compound semiconductors (LEDs), and SiC epitaxial wafers. In the fiscal year 2022, the Semiconductor and Electronic Materials segment generated USD 3,271 million in revenue, contributing to 30.7% of the company's total revenue. Resonac Holdings Corp. was established by Nobuteru Mori on June 1, 1939, and is headquartered in Tokyo, Japan. In October 2020, Hitachi Chemicals underwent a name change, becoming Showa Denko Materials. Subsequently, on January 1, 2023, Showa Denko K.K. and Showa Denko Materials Co., Ltd. (previously Hitachi Chemical Co., Ltd.) underwent a merger, leading to the establishment of two distinct entities: a holding company named "Resonac Holdings Corporation" and a manufacturing company named "Resonac Corporation." Geographically, the company classifies its geographic operations into four regions: Asia (excluding Japan), Japan, China, and Others. In FY2022, the Japan region accounted for 44.3% of the company’s revenue, followed by Asia (excluding China) (24.4%), China (13.7%), and Others (17.6%).

  • On September 2023, Resonac Corporation, a leading chemical company, and Matmerize Inc., an AI-powered materials science startup, announced a strategic partnership in September 2023. This collaboration aims to revolutionize the development of new semiconductor materials for 6G technology.
  • On November 2023, Resonac, a Japanese chip manufacturer, is establishing an R&D center in Silicon Valley to tap into innovation, focus on advanced semiconductor packaging for AI and emerging technologies, and expand its global reach by better serving American customers and enhancing brand recognition. The center is set to open in 2025, complementing Resonac's existing facility in Japan. This move highlights the growing importance of specialized chip packaging in the semiconductor industry.
  • On May 2023, Fujifilm Corporation announced that in order to grow its electronic materials business, it would construct a new plant in Taiwan for cutting-edge semiconductor materials. The company's Taiwan-based semiconductor materials subsidiary, FUJIFILM Electronic Materials Taiwan Co., Ltd. will purchase land in Hsinchu City and construct a new factory to manufacture CMP slurries and materials related to photolithography. The facility is scheduled to begin operations in the spring of 2026. This new plant for cutting-edge semiconductor materials will expand the product supply capacity of the company to cater to the fast-growing semiconductor market in Taiwan..
  • On December 2023, Fujifilm Corporation revealed an intention to build a new facility in South Korea to manufacture advanced semiconductor materials in order to grow the electronic materials industry. Modern evaluation tools and cutting-edge manufacturing capabilities will be available at the new facility, enabling the creation of goods with superior performance.

Related Reports:

Electronic Chemicals and Materials Market by Type (Specialty Gases, CMP Slurries, Conductive Polymers, Photoresist Chemicals, Low K Dielectrics, Wet Chemicals, Silicon Wafers, PCB Laminates), Application, and Region - Global Forecast to 2028

Mr. Aashish Mehra
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Electronic Chemicals and Materials Market Size,  Share & Growth Report
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