Emerging Demand in Asia-Pacific Region is the Reason Behind Increased Consumption of Electronic Components in Developing Countries
The global electronic chemicals and materials market is slowly recovering from the economic downturn of 2008. This recovery is dominantly led by the increased demand in Asia-Pacific. Electronic chemicals and materials have gained prominence in the recent past due to increasing demand of end-user industries especially in developing countries like China, Taiwan, and Brazil.
The growth in the electronic chemicals and materials industry is highly influenced by changing trends in the electronics market which are expected to boost the demand for PCB, semiconductor and IC industries. The emerging developments in electronic chemicals and materials market is due to technological advancements and newer geographical markets, especially that of Asia-Pacific region. Recently, there has been a subsequent shift of demand and production facilities from North America and Europe to Asia-Pacific. This is evident from the fact, as Asia-Pacific being the global leader of electronic chemicals and materials market with 69% market share as estimated in 2013.
By 2019, Asia-Pacific is expected to be world’s largest consumer of electronic chemicals and materials with an expected market of $42 billion industry. North America and Europe together are loosing their market dominance due to the saturation of these respective markets and therefore are focusing towards expansions in emerging markets. The electronic chemicals market in these regions is expected to increase at a slow pace in the next five years as only a few key industrial developments will take place in these regions.
Silicon wafers are expected to account the highest market with $12 billion by 2019. Other emerging electronic chemicals and materials such as PCB laminates and recent emergence of low-K dielectrics are expected to grow aggressively in the next five years.
Related Reports:
Electronic Chemicals & Materials Market by Types (Silicon Wafer, PCB Laminate, Photoresist, Specialty Gases, etc.), Application (Semiconductor & IC, PCB), Forms (Solid, Liquid, Gaseous) & Geography - Regional Trends & Forecast to 2019
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