Global Electronic Chemicals and Materials Market to Hit $29B by 2020

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According to the latest market research report by Technavio, the global electronic chemicals and materials market is expected to reach close to USD 29 billion in revenue by 2020.

In this report, Technavio covers the present scenario and growth prospects of the Global Electronic Chemicals and Materials for 2016-2020. To calculate the market size, Technavio researchers have considered revenues garnered from sales of new units in leading geographies, including APAC, North America, Europe, and ROW.

“The cost of production of electronic devices is decreasing, and thereby increasing the adoption of newer devices. recent advances in technology and the enhancements of existing equipment used in the production of chemicals and materials have further increased the quality and performance of consumer electronics over the years,” said Chandrakumar Badala Jaganathan, one of Technavio’s lead industry analysts for specialty chemicals research.

“Vendors in the market are therefore focusing on developing strategies that meet the growing demand for advanced electronics. For instance, JSR increased share in the photoresist market on its latest ArF technologies and Shin-Etsu entered the Deep ultraviolet photoresists manufacturing market. Thanks to these developments, flat panel displays such as LCD, LED, and plasma displays are finding aggressive adoption. The manufacturing and processing of these displays require different chemicals and materials,” added Chandrakumar.