Semiconductor Grade Solvents Market Size, Share, Growth and Industry Analysis, By Type (Ultra High Purity Reagents and Functional Chemicals), By Application (IDM Companies and Foundry Companies) Covid-19 Impact, Latest Trends, Segmentation, Driving Factors, Restraining Factors, Key Industry Players, Regional Insights, and Forecast To 2031

Updated On: 01 April 2024

Semiconductor Grade Solvents Market Report Overview

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The global semiconductor grade solvents market size was USD 410.4 million in 2022 and is projected to touch USD 7362.1 million by 2031, exhibiting a CAGR of 6.7% during the forecast period.

Specifically for the electronics and semiconductor manufacturing industries, semiconductor grade solvents are produced. These solvents include metals at extremely low concentrations parts every billion or parts every trillion. To reach the desired purity, several purifications are necessary.

COVID-19 Impact: Closure of Various Sectors and Fall in Market Revenue were Experienced as a Result of the Pandemic

The global COVID-19 pandemic has been unprecedented and staggering; with the semiconductor grade solvents 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.

As a result of the COVID-19 epidemic, the semiconductor grade solvents market suffered a setback. Due to the closure of various sectors during the COVID-19 epidemic, including IDM corporations and foundry companies, among others, the necessity for semiconductor grade solvents fell. Lockdown was imposed as a result of the pandemic, which decreased the production of solvents suitable for semiconductors and disrupted the world supply chain. Because of the pandemic, this market's revenue decreased.

LATEST TRENDS

"New High-Purity Solvents Introduced to be Utilized in the Production of Semiconductor Integrated Circuits"

Showa Denko has announced plans to establish a new purification plant to manufacture the new-grade goods in addition to the portfolio of its ultra-high purity reagents. The new-grade chemicals, which SDK offers under the brand name Solfine, are extremely high purity solvents that were created by improving the purity of already high-quality solvents. In order to be employed in the production of liquid crystal display (LCD) panels and semiconductor integrated circuits, SDK already sells semiconductor grade solvents, mostly as cleaning agents. The manufacturer will sell new-grade, ultra-high purity solvents and chemicals, primarily for use in photoresist solvents during the production of semiconductor integrated circuits.

Semiconductor Grade Solvents Market Segmentation

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• By Type

Based on type, the market is distributed into Ultra High Purity Reagents and Functional Chemicals

• By Application

Based on application, the market is divided into IDM Companies and Foundry Companies.

DRIVING FACTORS

"Increasing Requirement for High Performance Coatings to Aid in Expansion of the Solvents Market"

Demand is increasing globally due to the use of semiconductor grade solvents in the manufacture of high performance coatings. The industry is heavily dependent on the expansion of IDM and foundry firms because solvents are used in paints and coatings applications in many different industries. Even though the COVID-19 scenario has hurt the business in certain regions, there will still be a great need for these extremely high purity reagents in the long run.

"Growing Utilization of Electronic Devices in Emerging Economies is Promoting the Broadening of the Solvents Market"

The use of electronic devices has become a necessity, and this industry has expanded quickly over the past ten years and is predicted to continue in this vein in the years to come. Growing automation and digitization have driven the electronic sector, which will in turn promote the global market for semiconductor grade solvents during the forecast period. Some of the variables predicted to influence the demand for semiconductor grade solvents in emerging economies are raising middle class incomes and population growth.

RESTRAINING FACTORS

"Risks Associated with these Solvents to Human Health can Decrease the Demand for this Product "

Health risks result from the widespread use of solvents used for semiconductors. These health-related problems can reduce the market demand for ultra-high purity reagents by causing toxicity in the nervous and reproductive systems. This may further limit the semiconductor grade solvents market growth throughout the anticipated time frame.

Semiconductor Grade Solvents Market Regional Insights

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"Growth of the Electronics Industry in Asia Pacific to Fuel the Expansion of the Regional Market"

Due to its strong demand and production for electronic goods in nations like Japan, South Korea, China, and Malaysia, the Asia Pacific region is predicted to hold the largest semiconductor grade solvents market share. In 2016, the manufacturing of electronic goods was valued at slightly more than 2 billion in China, slightly more than 3 billion in Japan, and slightly more than 2.5 billion in South Korea. The growth of the electronics industry, which is anticipated to fuel the expansion of the regional market, is being hampered by economic development and an increase in disposable income.

KEY INDUSTRY PLAYERS

"Investment in R&D and Technological Developments are Methods Adopted by the Players to Gain Traction in the Market"

Intense R&D for sustained, successful product creation, strategic alliances, positioning in high-growth nations like China, and introduction of advanced technologies are just a few key operational tactics used by market players. Due to shifting end-user views and advantageous regulatory requirements, additional R&D for bio-based workable chemicals has accelerated significantly during the past few years. To gain traction and improve their competitiveness in the market, firms are concentrating on the technological development and capacity growth of their manufacturing facilities. Additionally, in order to guarantee stability, producers of semiconductor grade solvents will continue their long-term supply contracts with end users or raw material suppliers.

List of Market Players Profiled

• Mitsubishi Chemical (Japan)
• Stella Chemifa (Japan)
• BASF (Germany)
• Solvay (Belgium)
• Arkema (France)
• ICL Performance Products (U.S.)
• KMG Chemicals (U.S.)
• OCI Chemical (South Korea)
• Chang Chun Group (Taiwan)
• Avantor (U.S.)
• FDAC (U.S.)
• Dow (U.S.)
• Honeywell (U.S.)
• Bio-Lab ltd (Israel)

REPORT COVERAGE

This report covers the semiconductor grade solvents market. The CAGR expected to be in during the forecast period, and also the USD value in 2022 and what it is expected to be in 2028. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.