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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