Press Release

India Electronic Chemicals & Materials Market to Grow with a CAGR of 4.56% through 2029

Growth in research and development activities is expected to drive the India Electronic Chemicals & Materials Market growth in the forecast period, 2025-2029.

 

According to TechSci Research report, “India Electronic Chemicals & Materials Market- By Region, Competition, Forecast and Opportunities, 2019-2029”, the India Electronic Chemicals & Materials Market stood at USD 1.72 billion in 2023 and is anticipated to grow with a CAGR of 4.56% in the forecast period, 2024-2029. Initiatives taken by government based on electronic chemicals & materials has led to favorable market conditions for the India Electronic Chemicals & Materials Market. Several factors contribute to the growth of various electronic chemicals & materials products. In recent years, the government has undertaken multiple initiatives to boost domestic production of electronics, such as providing incentives for setting up manufacturing units and research and development centers. These efforts have not only stimulated the growth of the electronics industry but have also indirectly spurred the demand for electronic chemicals and materials, which are vital components in the production process. Recognizing the importance of a robust semiconductor industry, India is actively seeking foreign investments to accelerate the development and design of fabs (fabrication facilities) and Assembly, Testing, Marking, and Packaging (ATMP) facilities. By attracting foreign expertise and capital, India aims to enhance its indigenous semiconductor capabilities and establish a strong foothold in the global semiconductor market.

 

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The increasing use of electronic devices is one of the key factors propelling the growth of the electronic chemicals and materials market. With the ever-growing demand for smartphones, laptops, and other consumer electronics, the production of these devices has skyrocketed in recent years. This surge in production has led to a significant rise in the need for electronic chemicals and materials to support the manufacturing processes. From the intricate circuit boards to the advanced semiconductors, these specialized chemicals and materials play a vital role in ensuring the performance, durability, and reliability of electronic devices. As technology continues to advance and new innovations emerge, the electronic chemicals and materials market is expected to witness further expansion, driven by the relentless pursuit of more powerful, energy-efficient, and sustainable electronic products. The India Electronic Chemicals & Materials Market is segmented into type, application, regional distribution, and company. Based on its type, the silicon wafers segment held the largest market share in the forecast period. As technological advancements continue to revolutionize various industries, the demand for silicon wafers is further amplified. The electronics sector, driven by groundbreaking innovations such as the emergence of 5G, artificial intelligence (AI), and autonomous vehicles, heavily relies on cutting-edge integrated circuits (ICs). These sophisticated ICs, in turn, necessitate the utilization of high-quality silicon wafers to ensure optimal performance and efficiency. By providing the foundation for the intricate microelectronics within these advanced systems, silicon wafers play a vital role in enabling the seamless integration of these transformative technologies into our everyday lives.

Based on region, West India segment is expected to grow during the forecast period.  Government initiatives such as the 'Make in India' campaign have played a crucial role in stimulating the growth of the manufacturing sector in this region. These initiatives have not only provided a boost to the overall economy but have also created a favorable environment for the development of the electronic chemicals and materials market. Specific policies targeting the electronics industry, such as the Modified Special Incentive Package Scheme (MSIPS) and the Electronics Manufacturing Clusters (EMC) scheme, have been instrumental in attracting investments and promoting indigenous manufacturing. By offering incentives and establishing dedicated clusters, these policies have encouraged both domestic and foreign players to set up manufacturing units in this region, leading to the expansion of the electronic chemicals and materials market. With the support of these government initiatives and policies, the electronic chemicals and materials market is poised for significant growth, contributing to the overall development of the manufacturing sector in the region.

 

Major companies operating in India Electronic Chemicals & Materials Market are:

  • Maharishi Solar Technology (P) limited
  • BASF India Limited
  • Ashland India Private Limited
  • Merck Performance Materials Pvt. Ltd.
  • SunEdison Energy India Pvt. Ltd.
  • E.I. DuPont India Pvt. Ltd.

 

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“Growing application of electronic chemicals & materials in various end user industries are key drivers of the electronic chemicals & materials market. Growth in competitive landscape and presence of well-established companies in the market who are dedicated to enhance their productivity of electronic chemicals & materials with every passing year are anticipated to register an impressive growth to India Electronic Chemicals & Materials Market in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“India Electronic Chemicals & Materials Market By Type (Wet Chemicals, PCB Laminates, Silicon Wafers, Others), By Application (Semiconductors & Integrated Circuits (IC), Printed Circuit Boards (PCBs)), By Region, By Competition Forecast & Opportunities, 2019-2029”, has evaluated the future growth potential of India Electronic Chemicals & Materials Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India Electronic Chemicals & Materials Market.


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Relevant Reports

India Electronic Chemicals & Materials Market By Type (Wet Chemicals, PCB Laminates, Silicon Wafers, Others), By Application (Semiconductors & Integrated Circuits (IC), Printed Circuit Boards (PCBs)), By Region, Competition, Forecast and Opportunities, 2019-2029

Chemicals | Nov, 2023

Growth in electronic industry and surge in technological advancements are factors driving the India Electronic Chemicals & Materials Market in the forecast period 2025-2029.

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