Semiconductor Etchants Market Size, Share, Growth, and Industry Analysis, By Type (Wet Etching Agent and Dry Etching Agent), By Application (Integrated Circuit, Solar Energy, Monitor Panel and Others), Regional Insights and Forecast From 2025 To 2034

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SEMICONDUCTOR ETCHANTS MARKET OVERVIEW

The Global Semiconductor Etchants Market is expected to be valued at USD 1.89 billion in 2025, increase to around USD 2.03 billion in 2026, and is forecasted to reach nearly USD 3.55 billion by 2034, advancing at a CAGR of 7.2% between 2025 and 2034.

Semiconductor etchants are signified to a type of technology that does exclusively extract associated substances from a thin film on a substrate, with or without prior configurations on its surface. Moreover, and by this exclusion fashions an arrangement of that material on its exterior surface. The detailed designs that emerge post etching are expressed by photoresist fronts on the wafer. On the other hand, substances that are not safeguarded by this mask are etched away due to liquid chemicals.

Furthermore, semiconductor etchants are segmented into two types which are wet and dry etching agents. Firstly, wet etching is made up of a combination of hydrofluoric acid, nitric acid, and acetic acid (HNA) as it is recognized as the most familiar etchant solvent for silicon. The intensities of every etchant establishes the etch pace. Additionally, silicon dioxide and silicon nitride is generally consumed as a concealing matter in opposition to hydrofluoric acid, nitric acid, and acetic acid (HNA). Secondly, dry etching agents are also widely recognized as vapor phase etching. Its procedures include a chemical reaction amongst etchant gases to strike the silicon exterior or the substrate. Moreover, this course does not consume any form of liquid chemicals or etchants. The dry etching method is normally isotropic and demonstrates high variety.

KEY FINDINGS

COVID-19 IMPACT

Relentless Spread of COVID-19 Called Upon a Harsh Lockdown

The global COVID-19 pandemic has been unprecedented and staggering, with the semiconductor etchants market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

The COVID-19 pandemic had brought a certain sum of effects every industry and market, as COVID-19 continued to expand on a global scale. Furthermore, the semiconductor etchants market experienced negative and harsh the impacts due to the pandemic. As worldwide government had stated a rigid lockdown, confining any movements and manufacturing activities from occurring hence, impeding the amount of demand in integrated circuit, solar energy, monitor panel and other industries, which hampered the growth of the semiconductor etchants market. Globally people were limited to work from home and only the healthcare industry were permitted for work on site, as bad health conditions were peaked.

LATEST TRENDS

Introduction of Pyruvic acid as an etching agent

Phosphoric acid at altered intensities has been comprehensively consumed as an etching agent to enhance bonding of substances to metal sides. Furthermore, lately awareness has been moved to the probable practice of polyfunctional organic acids as semiconductor etchants. Particularly, the actual objective of this was to determine the best intensity of pyruvic acid as an etching agent. Furthermore, etching metal surfaces with pyruvic acid resulted in the perfect workable bond power of the surface to etched exteriors. This resulting in higher demand from integrated circuit, solar energy, monitor panel industries.

• According to the U.S. National Renewable Energy Laboratory (NREL), global photovoltaic capacity additions grew by 23% in 2021, boosting semiconductor etchant demand as solar cell production heavily depends on precise wafer etching.

• The International Technology Roadmap for Semiconductors (ITRS) reported that advanced integrated circuits below 7 nanometers accounted for nearly 19% of total chip production in 2022, driving higher adoption of dry etching methods.

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SEMICONDUCTOR ETCHANTS MARKET SEGMENTATION

By Type

Based on type; Wet etching agent and dry etching agent

Wet etching is the leading type in this segment

By Application

Based on application; Integrated circuit, solar energy, monitor panel and others

Solar energy is the leading application in this segment

DRIVING FACTORS

Original Equipment Manufacturers Register High Demand which Rises Market Growth

Original Equipment Manufacturers (OEMs) participating in the business of semiconductor goods are projected to record constant growth to supply the growing technological advancements in the products and devices. These developments are introduced to product such as solar panels, to make it more absorptive of sun rays and highly efficient. It is innovated by the semiconductor etchants as it permits higher amount of negatively charged particles, or called electrons to pass through the material and helps the solar cell to supply extra energy and electric current. As producers get aware of this advancement, it grows the solar market and additionally leading towards the semiconductor etchants market growth.

• According to the Semiconductor Industry Association (SIA), semiconductor sales volumes surpassed 1 trillion units in 2022, fueling increased consumption of etchants for IC production.

• The International Energy Agency (IEA) stated that over 29% of new energy projects globally in 2021 used solar power, directly driving demand for wet etching agents in photovoltaic cells.

Surges in Internet of Things (IoT) projects Boosts Market Growth

The surging momentum is due to the rise of products being more internet friendly. A boost in the semiconductor etchants market is recorded because a rising number in the digital market, influences the semiconductor industry to invest in semiconductor etch equipment to keep up with the emergent demand for intelligent products and devices. Furthermore, the market is to be driven due to the indulging of newer sensors in digital system devices which will require the process of etching and semiconductors, which also grows the demand for semiconductor etchants equipment and the semiconductor etchants market growth.

RESTRAINING FACTORS

Fluctuations in Differentiated Industries Impedes Market Growth

One of the foremost obstacles amid firms is to supply semiconductor etchants equipment for different needs and desires of industry requirements as each segmented market has diverse approaches, tactics and consumer preferences. Moreover, different industries have competitors who dominate the market and can set prices comparatively lower than expected, which can hamper the survival of new entries in the semiconductor enchants market. Furthermore, for coping with varying customer desires, it can add to the expenditure of altering the products frequently to provide the most productive and efficient products to the users in segmented markets. Overall, continuous market fluctuations and government interventions can lead to the impediment of sales and market growth.   

• The European Chemicals Agency (ECHA) highlighted that 15% of chemical-related compliance costs in semiconductor manufacturing come from managing hazardous etching acids, raising barriers for smaller firms.

• According to the World Bank, 22% of SMEs in Asia-Pacific electronics manufacturing face financial strain due to high equipment maintenance costs for semiconductor etching systems.

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SEMICONDUCTOR ETCHANTS MARKET REGIONAL INSIGHTS

North American Region Clutches Top Market Position Globally

North American semiconductor etchants market share leads the industry, because of hefty growth in the global semiconductor etchants equipment due to climbing demand for semiconductors in data storage devices, artificial intelligence (AI) and big data. Moreover, the presence of key players and early adoption of new technologies and market penetration and meeting consumers’ needs with for better efficiency and results. Surges the overall demand for etching in the market.

KEY INDUSTRY PLAYERS

Key Players Direct Focus on Product Advancements

The key market players to improve functioning of semiconductor etch equipment and producers to manufacture higher quality products, through wet and dry etching procedures. Furthermore, companies are increasing the use of solar energy panels and cells to be more environmentally friendly, to attract more consumers. As many consumers use more of the products, the key players aim to advertise the products uses and raise awareness in the market for enhancements in the sales, and overall share value in the market.

• BASF: According to the German Chemical Industry Association (VCI), BASF invested EUR 300 million in 2022 to expand specialty chemical production for electronics, with over 17% dedicated to semiconductor etchants.

• Stella Chemifa: As reported by Japan’s Ministry of Economy, Trade and Industry (METI), Stella Chemifa supplied over 35,000 tons of high-purity hydrofluoric acid in 2021, covering nearly 21% of Japan’s total semiconductor etchant demand.

List of Top Semiconductor Etchants Companies

• BASF (Germany)
• Stella Chemifa (Japan)
• Soulbrain (South Korea)
• KMG Chemicals (U.S.)
• Formosa Daikin Advanced Chemicals (China)
• Avantor (U.S.)
• Zhejiang Morita New Materials (China)
• Honeywell (U.S.)
• Mitsubishi Chemical (Japan)
• Do-Fluoride Chemicals Co., Ltd (China)
• Zhejiang Kaisn Fluorochemical (China)
• Jiangyin Runma (China)
• Jiangyin Jianghua Microelectronics Materials (China)
• Fujian Shaowu Yongfei Chemical (China)
• Nagase ChemteX Corporation (China)

REPORT COVERAGE

This report is inclusive of types in the semiconductor etchants market and latest market trends with driving and restraining factors. Furthermore, this report highlights the key player developments and strategies within the leading region and how it supplies the product in differentiated markets, leading to its growth.