New York, USA, Oct. 05, 2020 (GLOBE NEWSWIRE) — The Global Electronic Chemicals Market is likely to experience a collapse in the growth rate due to the COVID-19 outbreak all over the world. As per a new report added by Research Dive, the global electronic chemicals market is estimated to reach up to $ 35,056.9 Million and grow at a CAGR of 6.0% during the forecast period from 2019 to 2026. Although there is a decline in the growth rate, the global industry is anticipated to recover by the first or second quarter of 2022. Comprehensive analysis on drivers, challenges, growth opportunities, major segments, and key strategies executed by major market players are provided in the report for better understanding of the pandemic effect on the global market.
Key Features of the Market
Our analysts stated that the wide-range usage of various electronic chemicals such as conductive polymers, CMP slurries, wet chemicals, silicon wafers and others for cleaning and etching of electronic devises is the major factor estimated to propel the growth of global electronic chemicals market during the forecast period. The expected market size of the electronic chemicals industry post COVID-19 pandemic in 2020 is $18,551.9 million, which is a drastic downfall from $24,735.9 million before the pandemic situation.
This is mainly due to the shortage of raw material supply and delay in shipment from various countries. On the contrary, recent advancements in electronic chemicals is estimated to create massive growth opportunities in the global industry. For instance, Angus Chemical Company offers efficient electronic chemicals that have increased cleaning ability to clean electronic devices with low copper corrosion.
Strategies & Initiatives to Sustain in the Pandemic
The major players of the global electronic chemicals market include
- Air Products & Chemicals Inc.
- Linde plc
- Hitachi Chemicals
- Cabot Microelectronics
- Solvay A.G.
- KMG Chemicals
- Praxair Technology Inc.
- Huntsman Corporation
- GAB Neumann GmbH.
These players are adopting several strategies such as product developments and technological advancements to sustain in the COVID-19 pandemic.
The report briefs about the various features of all the prominent players functioning in the market such as financial performance, product portfolio recent strategic moves and developments, and SWOT (strength, weakness, opportunities and threats) examination. – Quick Download Top Companies Development Strategies Summary Report [75 pages]
For instance, DuPont offers TSV CMP slurry that is utilized for integration of silicon interpose and chip-on-wafer-on-substrate (CoWoS).
Post-Pandemic Scenario of Electronics Chemical Market
As per the report, the global electronic chemicals market is predicted to observe a significant growth after coronavirus pandemic. Recent developments in augmented reality, artificial intelligence, and memory chips is projected to surge the demand for electronic chemicals, which will help in increased market growth during the forecast period. In addition, as electronic chemicals are used to remove tiny impurities from various electronic devices, many industry players are manufacturing top-quality electronic chemicals to enhance the end performance. This factor is anticipated to help the global electronic chemicals market to grow exponentially after the COVID-19 pandemic. For instance, KMG Chemicals is manufacturing electronic chemicals that are used in the manufacturing of flat panel displays, solar cell panel, and semiconductors.
Mr. Abhishek Paliwal Research Dive 30 Wall St. 8th Floor, New York NY 10005 (P) +91-(788)-802-9103 (India) +1-(917)-444-1262 (US) Toll Free: 1-888-961-4454 E-mail: firstname.lastname@example.org Website: https://www.researchdive.com Blog: https://www.researchdive.com/blog/ LinkedIn: https://www.linkedin.com/company/research-dive/ Twitter: https://twitter.com/ResearchDive Facebook: https://www.facebook.com/Research-Dive-1385542314927521