Semiconductor Chemicals Companies

The semiconductor chemicals market size is projected to grow from USD 16.19 billion in 2025 to USD 29.25 billion by 2030, registering a CAGR of 12.6% during the forecast period. Several factors contributing to the increasing demand for modern electronics are driving growth in the semiconductor chemicals market. A significant factor is the ongoing advancement of semiconductor technology towards smaller nodes (5nm and below) alongside increasingly complex chip architectures, such as FinFETs and 3D NAND. New node levels and architectural advances require ultra-high-purity chemicals in a variety of precision processes, including lithography, etching, doping, and cleaning. The explosion of new technologies such as 5G, AI, IoT, and electric vehicles (EVs), all demanding advanced chips, is driving demand for chip making, which is causing semiconductor-grade chemicals to be consumed. The demand for chemicals is increasing due to the growth of data centers, cloud computing, and other hyper-scale infrastructural investments calling for ever-more-demanding processors, data, and memory devices and, consequently, their supporting chemical materials. The same holds true for consumer electronics because of increasing availability and growth in consumption, as well as for the digitization of industrial infrastructure. This surge is being augmented with government investments worldwide to enhance semiconductor self-sufficiency and independence, with incentives for fab expansions and localization of the chemical supply chain (particularly in the Asia Pacific and North America). The expansion of investments and the localization of the chemical supply chain will continue to drive growth in demand and supply, particularly for new applications and formulations. This includes innovations in extreme ultraviolet (EUV) lithography and advanced packaging. Together, these factors are establishing a strong foundation for sustainable growth in the global semiconductor chemicals market.

Semiconductor Chemicals Companies

Tokyo Ohka Kogyo Co., Ltd. (Japan), JSR Corporation (Japan), BASF (Germany), Solvay (Belgium), Dow (US), Honeywell International Inc. (US), FUJIFILM Holdings Corporation (Japan), Eastman Chemical Company (US), Merck KGaA (Germany), Sumitomo Chemical Co., Ltd. (Japan), SK Inc. (South Korea), and DuPont (US) are the key players in this market. These prominent competitors, along with a slew of others, define the semiconductor chemicals market through ongoing innovations and worldwide growth strategies. Their contributions propel technological developments, broaden market reach, and shape industry standards, ultimately influencing the future of semiconductor chemicals and their numerous uses.

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SK Inc.

SK Inc., headquartered in Seoul, South Korea, is the strategic investment and holding company of the SK Group, one of the largest conglomerates in South Korea. The company operates through a diverse portfolio of subsidiaries across several core industries, with its business segments, including SK Innovation Co., Ltd., SK Telecom Co., Ltd., SK E&S Co., Ltd., SK Networks Co., Ltd., SK Ecoplant Co., Ltd., SK Square Co., Ltd., and SKC Co., Ltd., among others. The largest contributor to revenue is SK Innovation, which engages in energy, petrochemicals, and battery technologies, playing a pivotal role in the global energy transition. SK Telecom focuses on advanced telecommunications and ICT services, driving innovation in 5G and digital infrastructure. SK E&S is involved in energy solutions, including LNG, hydrogen, and renewable power. SK Networks and SK Ecoplant operate in the trading, logistics, and environmental engineering sectors, with Ecoplant contributing to eco-friendly infrastructure development. SK Square specializes in investment in semiconductors and digital platforms, while SKC Co., Ltd. is a critical segment through which SK Inc. provides semiconductor chemicals, including CMP (chemical mechanical planarization) slurries, advanced films, and high-purity materials essential for chip fabrication. SKC is especially noted for supplying materials for semiconductor packaging, dielectric films, and secondary battery components. Geographically, SK Inc. maintains a robust presence not only in South Korea but also across Asia, North America, and Europe. In South Korea, the company has a strong industrial base and R&D ecosystem supporting the semiconductor, telecom, and energy sectors. In the US, SK Inc. has invested in semiconductor materials, battery plants, and green energy partnerships, including collaborations with global chipmakers and EV manufacturers. SK Inc., in particular, has expanded its semiconductor materials production in the US to align with the CHIPS Act initiatives. The company is also active in electronics manufacturing in China and Southeast Asia, and it maintains strategic partnerships across Europe to support green energy and digital infrastructure growth.

FUJIFILM Holdings Corporation

FUJIFILM Holdings Corporation is a globally diversified technology and imaging company headquartered in Tokyo, Japan. Renowned for its legacy in photography and imaging, the company has successfully transformed itself into a dynamic, innovation-driven enterprise spanning a wide range of sectors. Its business is categorized into four core segments: Healthcare, Electronics, Business Innovation, and Imaging. The Healthcare segment includes medical systems, pharmaceuticals, regenerative medicine, and biotechnology solutions, with strong capabilities in diagnostic imaging, endoscopy, and contract development and manufacturing organization (CDMO) services. The Electronics segment is focused on providing advanced materials and technologies used in semiconductor manufacturing, displays, and electronic components. FUJIFILM Holdings Corporation supplies semiconductor chemicals through the Electronics segment, offering a wide range of high-performance materials, including photoresists, color filter materials, CMP slurries, and process chemicals that meet the stringent demands of advanced chip fabrication. These offerings play a crucial role in enabling technologies like EUV lithography, 3D NAND, and advanced logic nodes. The Business Innovation segment encompasses office printers, document management solutions, and IT services, helping companies improve workflow efficiency through digital transformation. The Imaging segment includes digital cameras, photo printing, and related consumer imaging products, continuing the company’s heritage in photography but with a digital and personalized focus. Geographically, FUJIFILM Holdings Corporation has a broad international footprint with operations in over 50 countries and sales networks in more than 100. Japan remains the largest single market, but the company has established strong commercial and manufacturing presences in North America, Europe, China, and Southeast Asia. Its global strategy is anchored by region-specific R&D centers and production facilities that allow it to respond quickly to localized customer demands and regulatory environments. Particularly in the semiconductor chemicals sector, FUJIFILM Holdings Corporation is a key supplier in the Asia Pacific region, supporting major fabs in Japan, South Korea, Taiwan, and China, while also expanding its presence in the US and European semiconductor ecosystems. With its emphasis on R&D, sustainability, and cross-industry innovation, FUJIFILM continues to evolve into a comprehensive solutions provider.

Honeywell International Inc.

Honeywell International Inc. is a diversified, global technology and manufacturing company headquartered in Charlotte, North Carolina, US. Operating across more than 75 countries, Honeywell is recognized for delivering cutting-edge products and solutions across a variety of critical industries. The company’s business is structured into four primary segments: Aerospace Technologies, Industrial Automation, Building Automation, and Energy & Sustainability Solutions. The Aerospace Technologies segment, which contributes the largest share (40.2%) of Honeywell’s revenue, provides avionics, engines, and systems for commercial and defense aircraft. This segment is instrumental in driving innovations in aircraft safety, fuel efficiency, and flight management. The Industrial Automation segment, accounting for 26.1% of revenue in 2024, focuses on delivering advanced process control systems, software platforms, sensors, and instrumentation for industries such as oil & gas, chemicals, and manufacturing. Notably, Honeywell’s offerings for semiconductor chemicals and cleanroom environments are housed within this segment, supporting chip fabrication facilities with precise process controls and high-purity materials management. The Building Automation segment (17.0% in 2024) offers integrated solutions for energy efficiency, security, HVAC controls, and lighting systems in commercial and industrial buildings. Lastly, the Energy & Sustainability Solutions segment (16.7% in 2024) reflects Honeywell’s commitment to environmental stewardship by offering carbon capture, energy storage, and renewable energy optimization solutions that align with global net-zero goals.

Geographically, Honeywell has a strong footprint across North America, Europe, and the Asia Pacific regions, with major operational and research hubs in the US, Mexico, Germany, the UK, India, and China. The company’s global presence allows it to serve multinational clients, respond to regional regulatory requirements, and tap into high-growth markets, particularly in energy transition and digital industrial transformation.

BASF

BASF established itself as a prominent player in the global chemical industry, serving various sectors with its diverse product offerings. It is a leading provider of chemical products with a diverse business portfolio. The company operates across several segments, each catering to distinct industries. These segments include Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition and Care, and Agricultural Solutions. In the Chemicals segment, BASF supplies petrochemicals and intermediates, serving as a key player in the chemical industry. The Materials segment encompasses isocyanates, polyamides, inorganic basic products, and specialty chemicals tailored for the plastics and plastics processing sectors. The Industrial Solutions segment focuses on the development and marketing of ingredients and additives essential for industrial applications. This includes polymer dispersions, pigments, resins, electronic materials and chemicals, antioxidants, and various additives. The Surface Technologies segment combines chemical solutions for surfaces with divisions dedicated to catalysts and coatings. This segment offers comprehensive solutions for surface treatment needs. Within the Nutrition and Care segment, BASF provides ingredients and solutions designed for consumer applications spanning nutrition, home products, and personal care items. The Agricultural Solutions segment encompasses a wide range of agricultural products, including fungicides, herbicides, insecticides, biological crop protection products, and seeds and seed treatment products. BASF has a strong global presence, operating in over 90 countries with production sites across Europe, North America, Asia Pacific, South America, and Africa. Its headquarters are in Ludwigshafen, Germany, home to the world’s largest integrated chemical complex. In North America, BASF operates major facilities in the US, Canada, and Mexico. In the Asia Pacific, it has significant investments in China, India, and Malaysia, including joint ventures like BASF-YPC in Nanjing. The company also has a strong footprint in South America, particularly in Brazil. This global network supports BASF’s diversified operations in chemicals, materials, industrial solutions, surface technologies, nutrition, and agricultural solutions.

Tokyo Ohka Kogyo Co., Ltd.

Tokyo Ohka Kogyo Co., Ltd. (TOK) specializes in the manufacture and sale of chemical materials. TOK has established itself as an R&D-focused enterprise at the forefront of fine chemical development. Over the years, the company expanded its expertise from high-purity chemicals to cutting-edge high-performance photoresists for photosensitive materials. The Materials segment offers an extensive array of photoresists and high-purity chemicals, essential components extensively used in producing semiconductors, liquid crystal displays (LCDs), semiconductor packaging, and various electronic products. The Equipment segment encompasses a range of machinery and equipment, including photoresist coatings and developing machines crucial in manufacturing LCD panels. This segment also includes various semiconductor manufacturing equipment designed to facilitate various stages of semiconductor production. The company possesses microfabrication technology and high-purification technology. With its headquarters in Japan, TOK has a global presence, serving Asia Pacific, North America, and Europe.

MARKET RANKING

The semiconductor chemicals market is fragmented, with the top five players accounting for approximately 17–18% of the total market share. This suggests that the market is not consolidated and offers room for innovation and niche specialization from various regional and global suppliers. Among the identified key players, SK Inc. holds the largest individual share at around 6.0%, positioning itself as a major supplier of semiconductor chemicals. The company likely benefits from strong vertical integration and proximity to major fabs, particularly in South Korea, which is a global semiconductor manufacturing hub. FUJIFILM Holdings Corporation follows with around 4.5%, leveraging its strength in photoresists and advanced lithography materials. Honeywell International Inc., known for its specialty materials and performance chemicals, holds around 3.6% of the total market, reflecting its diversified portfolio serving both front-end and back-end semiconductor processes. BASF, a major global chemical player, accounts for around 2.5% of the total, supported by its strong R&D in electronic materials and expansion efforts in Asia. Meanwhile, Tokyo Ohka Kogyo Co., Ltd. holds a market share of around 1.5% share, which, although smaller, reflects its specialized focus on photoresists and related chemicals essential for lithography.

Overall, the market structure illustrates a mix of large multinational corporations with specialized product lines and numerous smaller firms catering to localized or niche demands. This fragmentation presents opportunities for strategic partnerships, M&A activity, and technological differentiation. As the semiconductor industry continues evolving with demand for advanced nodes and packaging, the competitive dynamics in the chemicals segment are expected to intensify, especially among players seeking to scale innovation and secure long-term supply contracts with foundries.

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Semiconductor Chemicals Market by Type (High Performance Polymers, Acid & Base Chemicals, Adhesives, Solvents), Application (Photoresist, Etching, Doping, Cleaning), End Use (Integrated Circuits, Discrete Semiconductor), & Region - Global Forecast to 2030