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Wet chemicals are the chemicals in liquid state that are used in industries, laboratories, and research. These are commercial chemicals like sulfuric acid, nitric acid, hydrogen peroxide, ammonium hydroxide and many other. These chemicals are used in processes like etching and cleaning. The manufacturing process of chips need a clean environment which can be maintained using hydrogen peroxide. Moreover, fabrication and wet stripping of semiconductors involve the use of sulfuric acid.
The increasing use of the Integrated circuits, chips, microchips in electronics and other electrical appliances is surging the demand for semiconductors that are used in the electronic components further driving the wet chemicals market. Additionally, the use of acids, hydroxides and peroxides for cleaning and etching of substrate surfaces are boosting the demand. Hydrogen peroxide is the most demanded wet chemical for the semiconductor industry for it as long-term applications like etching and cleaning the IC.
However, the semiconductor manufacturing involves generation of wastewater containing the semiconductor residue, toxic and non-toxic chemicals which can be harmful for the environment. The improper waste management of the semiconductor industry is likely to hinder the market growth of the market.
Key Market Driver -
The increasing use of wet chemicals in semiconductor industry.
Key Market Restraint -
The waste management of semiconductors.
Based on product, the market is segmented into acetic acid, isopropyl alcohol, hydrogen peroxide, hydrochloric acid, ammonium hydroxide, nitric acid, sulfuric acid, phosphoric acid, and others. Based on application, the market is segmented into cleaning, etching, printed circuit board manufacturing, Integrated Circuit, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global wet chemicals for electronics & semiconductor application market consists of global & regional players operating. Some of the key players in the market include BASF SE, Honeywell International LLC, Eastman Chemical Company, Solvay, Avantor Inc., Fujifilm Corporation, Kanto Chemical Co. Inc., T.N.C. Industrial Co. Ltd and Others.
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is likely to dominate the market attributed to the growing demand for electronics in countries like India, China, Japan, Taiwan, and South Korea. North America is estimated to be the second largest market due to the large number of semi-conductors and electronics manufacturers in U.S. and Canada. Europe is expected to show considerable growth due to the increasing demand for electronics from Italy, France, and other European countries. Latin America and Middle East and Africa are expected to show considerable growth by the end of the forecast period
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