The electronic wet chemicals market is projected to reach USD 5.4 billion by 2028, at a CAGR of 7.2% from USD 3.8 billion in 2023. The market growth is driven by technological advancements in the electronics industry and rise in the demand for hydrogen peroxide from the semiconductor industry. This report provides a comprehensive analysis of the market, including electronic wet chemicals market size, trends, drivers and constraints, competitive aspects, and prospects for future growth.

Electronic Wet Chemicals Companies

The key players in this market are Avantor Inc. (US), BASF SE (Germany), Cabot Microelectronics (US), and Kanto Chemical Co. Inc. (Japan), Honeywell International, Inc. (US), Eastman Chemical Company (US), Linde Plc (Ireland), Solvay (Belgium), Fujifilm Corporation (Japan), and Technic Inc. (US)etc. These companies are strong in their home regions and explore geographic diversification alternatives to grow their businesses. They focus on increasing their market shares through new product launches and other expansions.

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Avantor Inc.

Avantor Inc. provides high-quality products and services to customers in the biopharma, healthcare, education & government, and advanced technologies & applied materials industries. The company operates through three geographic segments based on customer location- Americas, Europe, and AMEA (Asia, Middles East & Africa). Each segment manufactures and distributes products and solutions for life science and applied technologies & applied materials industries. The company offers electronic wet chemicals under the brand name J.T. Baker. It provides photoresist strippers, residue removers, and material etching and cleaning chemistries for various semiconductors and microelectromechanical systems (MEMS).  It operates in more than 30 countries and delivers an extensive portfolio of products and services. It primarily operates in the US and has an active presence in Europe, APAC, the Middle East & Africa.

BASF SE

BASF SE engages in the production of sales of a wide range of chemicals and intermediate solutions. The company operates through seven business segments - chemicals, materials, industrial solutions, surface technologies, nutrition & care, agricultural solutions, and others. The company offers electronic wet chemicals through the chemicals business segment. It provides performance chemicals for numerous industries, such as oil & gas, paper mining, and water treatment.  BASF SE has a strong global presence, and it operates through 390 production facilities across Europe, more than 90 countries, through subsidiaries. It primarily operates in Europe and has an active presence in North America, APAC, South America, Africa, and the Middle East.

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Cabot Microelectronics Corporation

Cabot Microelectronics is involved in the development, production, distribution, and sales of specialty chemicals and performance materials for semiconductors, pipeline & energy services, and industrial wood preservation markets. The company operates in two business segments – electronic chemicals and performance materials. It caters to the electronic wet chemicals market through the electronic chemicals business segment. Electronic materials provide products and solutions for the semiconductors industry. The electronic materials segment consists of CMP slurries and polishing pads businesses and KMG electronic chemicals business. The company generates 57% of the revenue from 5 electronics giants, out of which Samsung, Taiwan Semiconductor Manufacturing Company (TSMC), and SK Hynix Inc. contribute 18%, 12%, and 10%, respectively. The company has its operations in the US and European and Asian countries.

Honeywell International, Inc.

Honeywell International, Inc. is a software industrial company, which offers solutions to aerospace and automotive products and services. It operates through four business segments – aerospace, Honeywell building technologies, performance materials and technologies, and safety and productivity solutions. The company caters to the electronic wet chemicals market through the performance materials and technologies business segment. It offers high-purity and ultra-high-purity chemicals such as straight acids and bases, selective etchants and blends, solvents, and wafer thinning materials for the semiconductors and electronics industries.

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Kanto Chemical Co. Inc.

Kanto Chemical Co. Inc. engages in the manufacturing and sales of high-purity chemicals and automatic chemical dispense systems. The company has a wide range of product lines from fundamental reagents supporting advanced science and technologies to a variety of chemicals and chemical materials necessary for highly technological industries such as electronics and semiconductors. The company has a strong distribution network in APAC.

Semiconductor by application is projected to be the largest, in terms of value, during the forecast period.

Semiconductors dominate the electronic wet chemicals market due to their reliance on these chemicals for critical processes like etching, cleaning, and material deposition. Wet chemicals ensure the precision and consistency required for integrated circuit production, making them essential for surface preparation, patterning, and defect prevention. Their selectivity and compatibility with various semiconductor materials further strengthen their importance in the industry.

Acetic acid by type is projected to be the largest, in terms of value, during the forecast period.

Acetic acid leads among wet chemical types due to its versatility, cost-effectiveness, and strong cleaning and etching properties. It is widely used in semiconductor manufacturing for its controlled acidity, safe handling, and efficiency in surface treatment processes. Its long-standing use and regulatory compliance make it a preferred choice across electronic manufacturing.

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Liquid form by form segment is projected to be the largest, in terms of value, during the forecast period.

Liquid wet chemicals are preferred for their ease of handling, precise application, and compatibility with standard manufacturing systems. Their uniform flow, concentration control, and efficient heat transfer make them ideal for critical electronic processes like cleaning, etching, and deposition. These attributes secure their dominance in the market.

Asia Pacific is expected to be the fastest growing market for electronic wet chemicals during the forecast period, in terms of value.

Asia Pacific leads the electronic wet chemicals market due to its strong electronics manufacturing base in countries like China, Japan, South Korea, and Taiwan. The region’s growing consumer electronics demand, rising semiconductor production, and robust infrastructure drive its rapid market expansion and global significance.