Summary
This report covers the market landscape and supply-chain for wet chemicals used in semiconductor device fabrication. It includes information about key suppliers, issues/trends in the material supply chain, estimates on supplier market share, and forecast for the material segments.
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Covers the wet chemicals market and supply-chain issues for such used in semiconductor device fabrication.
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Contains data and analysis from TECHCET’s database and Sr. Analyst experience, as well as that developed from primary and secondary market research.
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Provides focused information for electronics supply-chain managers, process integration and R&D directors, as well as business and financial analysts.
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Covers information about key semiconductor wet chemical suppliers, issues/trends in the wet chemicals material supply chain, estimates on supplier market share, and forecast for the wet chemicals material segments.
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Includes 3 Quarterly Updates, with updates on market trends and forecasts from the analyst.
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Table of Contents
1 EXECUTIVE SUMMARY 10
1.1 WET CHEMICALS AND SPECIALTY CLEANS BUSINESS :MARKET OVERVIEW 11
1.2 MARKET TRENDS IMPACTING 2025 OUTLOOK 12
1.3 WET CHEMICALS AND SPECIALTY CLEANS 5-YEAR UNIT SHIPMENT FORECAST BY SEGMENT 13
1.4 WET CHEMICALS AND SPECIALTY CLEANS 5-YEAR REVENUE FORECAST BY SEGMENT 14
1.5 WET CHEMICALS AND SPECIALTY CLEANS SEGMENT TRENDS 15
1.6 TECHNOLOGY TRENDS 16
1.7 REGIONAL TRENDS 17
1.8 FIRST QUARTER 2025 FINANCIALS OF TOP 10 18
1.9 EHS, TRADE, AND/OR LOGISTICS ISSUES/CONCERNS 19
1.10 ANALYST ASSESSMENT OF WET CHEMICALS AND SPECIALTY CLEANS 20
2 SCOPE, PURPOSE AND METHODOLOGY 22
2.1 SCOPE, PURPOSE & METHODOLOGY 23
2.2 OVERVIEW OF TECHCET CMR™ OFFERINGS 24
3 SEMICONDUCTOR INDUSTRY MARKET STATUS & OUTLOOK 25
3.1 WORLDWIDE ECONOMY AND OUTLOOK 26
3.2 WORLDWIDE ECONOMY AND OVERVIEW 27
3.2.1 WORLDWIDE ECONOMY AND SEMICONDUCTOR MARKET OVERVIEW 28
3.2.2 SEMICONDUCTOR INDUSTRIES TIES TO THE GLOBAL ECONOMY 29
3.2.3 SEMICONDUCTOR SALES GROWTH 30
3.2.4 TAIWAN OUTSOURCE MANUFACTURER MONTHLY SALES TRENDS 31
3.3 CHIPS SALES BY ELECTRONIC GOODS SEGMENT 32
3.3.1 FACTORS IMPACTING ELECTRONIC SYSTEMS OUTLOOK 33
3.3.2 PC OUTLOOK 34
3.3.3 SMARTPHONE OUTLOOK 35
3.3.4 AUTOMOTIVE INDUSTRY OUTLOOK 36
3.3.5 SERVERS / IT MARKET 39
3.4 SEMICONDUCTOR FABRICATION GROWTH & EXPANSION 42
3.4.1 IN THE MIDST OF HUGE INVESTMENT IN CHIP EXPANSIONS 43
3.4.2 PUBLIC FUNDS STIMULATING PRIVATE INVESTMENTS IN EXPANSION ACROSS THE GLOBE 44
3.4.3 SEMICONDUCTOR SUPPLY CHAIN ANNOUNCED EXPANSIONS IN THE US 45
3.4.4 EQUIPMENT SPENDING TRENDS 46
3.4.5 TECHNOLOGY ROADMAPS 47
3.5 POLICY & TRADE TRENDS AND IMPACT 48
3.6 SEMICONDUCTOR PRODUCTION (WAFER STARTS*) AND MATERIALS OVERVIEW 50
3.6.1 TECHCET WAFER STARTS FORECAST THROUGH 2029 51
3.6.2 TECHCET ELECTRONIC MATERIALS MARKET FORECAST THROUGH 2028 52
4 WET CHEMICALS AND SPECIALTY CLEANS MARKET TRENDS 53
4.1 WET CHEMICALS AND SPECIALTY CLEANS MARKET TRENDS:OUTLINE 54
4.1.1 2024 WET CHEMICALS AND SPECIALTY CLEANS MARKET LEADING INTO 2025 55
4.1.2 WET CHEMICALS AND SPECIALTY CLEANS MARKET OUTLOOK 56
4.1.3 WET CHEMICALS AND SPECIALTY CLEANS 5-YEAR UNIT SHIPMENT FORECAST BY SEGMENT 57
4.1.4 WET CHEMICALS AND SPECIALTY CLEANS 5-YEAR REVENUE FORECAST BY SEGMENT 58
4.1.5 WET CHEMICALS AND SPECIALTY CLEANS 5-YEAR UNIT SHIPMENT FORECAST:H2SO4 59
4.1.6 WET CHEMICALS AND SPECIALTY CLEANS 5-YEAR REVENUE FORECAST:H2SO4 60
4.1.7 WET CHEMICALS AND SPECIALTY CLEANS 5-YEAR UNIT SHIPMENT FORECAST:HF 61
4.1.8 WET CHEMICALS AND SPECIALTY CLEANS 5-YEAR REVENUE
FORECAST:HF 62
4.1.9 WET CHEMICALS AND SPECIALTY CLEANS 5-YEAR UNIT SHIPMENT FORECAST:NH4OH 63
4.1.10 WET CHEMICALS AND SPECIALTY CLEANS 5-YEAR REVENUE FORECAST:NH4OH 64
4.1.11 WET CHEMICALS AND SPECIALTY CLEANS 5-YEAR UNIT SHIPMENT FORECAST:H2O2 65
4.1.12 WET CHEMICALS AND SPECIALTY CLEANS 5-YEAR REVENUE FORECAST:H2O2 66
4.1.13 WET CHEMICALS AND SPECIALTY CLEANS 5-YEAR UNIT SHIPMENT FORECAST:H3PO4 67
4.1.14 WET CHEMICALS AND SPECIALTY CLEANS 5-YEAR REVENUE FORECAST:H3PO4 68
4.1.15 WET CHEMICALS AND SPECIALTY CLEANS 5-YEAR UNIT SHIPMENT FORECAST:HCL 69
4.1.16 WET CHEMICALS AND SPECIALTY CLEANS 5-YEAR REVENUE FORECAST:HCL 70
4.1.17 WET CHEMICALS AND SPECIALTY CLEANS 5-YEAR UNIT SHIPMENT FORECAST:HNO3 71
4.1.18 WET CHEMICALS AND SPECIALTY CLEANS 5-YEAR REVENUE FORECAST:HNO3 72
4.1.19 WET CHEMICALS AND SPECIALTY CLEANS 5-YEAR UNIT SHIPMENT FORECAST:IPA 73
4.1.20 WET CHEMICALS AND SPECIALTY CLEANS 5-YEAR REVENUE FORECAST:IPA 74
4.1.21 WET CHEMICALS AND SPECIALTY CLEANS 5-YEAR UNIT SHIPMENT FORECAST:AL PERR 75
4.1.22 WET CHEMICALS AND SPECIALTY CLEANS 5-YEAR REVENUE FORECAST:AL PERR 76
4.1.23 WET CHEMICALS AND SPECIALTY CLEANS 5-YEAR UNIT SHIPMENT FORECAST:CU PERR 77
4.1.24 WET CHEMICALS AND SPECIALTY CLEANS 5-YEAR REVENUE FORECAST:CU PERR 78
4.1.25 WET CHEMICALS AND SPECIALTY CLEANS 5-YEAR REVENUE FORECAST:PCMP 79
4.1.26 WET CHEMICALS AND SPECIALTY CLEANS 5-YEAR FORECAST:PCMP CLEANS BY TYPE 80
4.1.27 WET CHEMICALS AND SPECIALTY CLEANS 5-YEAR FORECAST:PCMP CLEANS BY DEVICE 81
4.2 WET CHEMICALS AND SPECIALTY CLEANS SUPPLY CAPACITY AND DEMAND, INVESTMENTS - OUTLINE 82
4.2.1 WET CHEMICALS AND SPECIALTY CLEANS PRODUCTION BY REGION 83
4.2.2 WET CHEMICALS AND SPECIALTY CLEANS PRODUCTION CAPACITY EXPANSIONS 84
4.2.3 INVESTMENT ANNOUNCEMENTS OVERVIEW 85
4.2.4 INVESTMENT ACTIVITY ADDITIONAL COMMENTS 86
4.2.5 WET CHEMICALS AND SPECIALTY CLEANS SUPPLY VS. DEMAND BALANCE:OVERVIEW 87
4.3 PRICING TRENDS 88
4.4 TECHNOLOGY TRENDS/TECHNICAL DRIVERS - OUTLINE 89
4.4.1 WET CHEMICALS AND SPECIALTY CLEANS GENERAL TECHNOLOGY OVERVIEW 90
4.4.2 WET CHEMICALS AND SPECIALTY CLEANS TECHNOLOGY TRENDS 91
4.5 REGIONAL CONSIDERATIONS 92
4.5.1 REGIONAL ASPECTS AND DRIVERS 93
4.6 EHS AND TRADE/LOGISTIC ISSUES 95
4.6.1 EHS ISSUES 96
4.6.2 TRADE/LOGISTICS ISSUES 97
4.7 ANALYST ASSESSMENT OF WET CHEMICALS AND SPECIALTY 98
5 SUPPLY-SIDE MARKET LANDSCAPE 99
5.1 WET CHEMICALS MARKET SHARE 100
5.2 SPECIALTY CLEANS MARKET SHARE 101
5.2.1 CURRENT QUARTER - SUPPLIER ACTIVITIES & REPORTED REVENUES 102
5.2.2 CURRENT QUARTER TOP 10 SUPPLIER ACTIVITIES & REPORTED REVENUES 103
5.2.3 CURRENT QUARTER ACTIVITY:DUPONT ELECTRONICS & INDUSTRIAL 104
5.2.4 CURRENT QUARTER ACTIVITY:FUJIFILM ELECTRONIC MATERIALS 105
5.2.5 CURRENT QUARTER ACTIVITY:MERCK KGAA/EMD ELECTRONICS 106
5.2.6 CURRENT QUARTER ACTIVITY:BASF SE 107
5.2.7 CURRENT QUARTER ACTIVITY:HONEYWELL ADVANCED MATERIALS 108
5.3 M&A ACTIVITY AND PARTNERSHIPS 109
5.4 PLANT CLOSURES 110
5.5 NEW ENTRANTS 111
5.6 SUPPLIERS OR PARTS/PRODUCT LINES THAT ARE AT RISK OF DISCONTINUATIONS 112
5.7 TECHCET ANALYST ASSESSMENT OF WET CHEMICALS AND SPECIALTY CLEANS SUPPLIERS 113
6 SUB-TIER SUPPLY-CHAIN 115
6.1 SUB-TIER SUPPLY CHAIN: SOURCES & MARKETS OVERVIEW 116
6.1.1 SUB-TIER MATERIAL SUPPLIER MARKET BACKGROUND 117
6.1.2 SUB-TIER MATERIAL SUPPLIER MARKET TRENDS 118
6.1.3 SUB-TIER MATERIAL SUPPLIER INDUSTRIAL VS. SEMICONDUCTOR-GRADE 119
6.1.4 SUB-TIER SUPPLY CHAIN: SUB-TIER MATERIAL SUPPLIERS 120
6.1.5 SEMICONDUCTOR-GRADE SUB-TIER MATERIAL SUPPLIER NEWS 123
6.2 SUB-TIER SUPPLY-CHAIN: DISRUPTIONS 125
6.3 SUB-TIER SUPPLY-CHAIN M&A OR PARTNERSHIP ACTIVITY 126
6.4 SUB-TIER SUPPLY-CHAIN EHS AND LOGISTICS ISSUES 127
6.5 SUB-TIER SUPPLY-CHAIN “NEW” ENTRANTS 128
6.6 SUB-TIER SUPPLY-CHAIN RECENT PLANT UPDATES 129
6.7 SUB-TIER SUPPLY-CHAIN PLANT CLOSURES 130
6.8 SUB-TIER SUPPLY-CHAIN TECHCET ANALYST ASSESSMENT 131
7 SUPPLIER PROFILES
ARKEMA
ATOTECH
AUECC
AVANTOR
133
LYONDELLBASELL INDUSTRIES HOLDINGS B.V.
MARATHON PETROLEUM CORP
MERCK/EMD GROUP
and more...
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List of Tables/Graphs
FIGURES
FIGURE 1.1: WET CHEMICALS AND SPECIALTY CLEANS SHIPMENT FORECAST BY SEGMENT 13
FIGURE 1.2: WET CHEMICALS AND SPECIALTY CLEANS REVENUE FORECAST BY SEGMENT 14
FIGURE 1.3: 2025 WET CHEMICALS VOLUME SHARE FORECAST BY REGION 17
FIGURE 1.4: TOP 10 SUPPLIERS QUARTERLY COMBINED SALES (INCLUDES BASF, EVONIK, HONEYWELL, MERCK, MGC, SOLVAY, FFEM, ENTEGRIS, DONGJIN, TOKUYAMA) 18
FIGURE 3.1: HISTORICAL AND FORECASTED GDP GROWTH (2000:2029) 28
FIGURE 3.2: GLOBAL ECONOMY AND THE ELECTRONICS SUPPLY CHAIN (2024) 29
FIGURE 3.3: WORLDWIDE SEMICONDUCTOR SALES ($B) 30
FIGURE 3.4: TECHCET’S TAIWAN SEMICONDUCTOR INDUSTRY INDEX (TTSI) MOMENTUM TRACKER 31
FIGURE 3.5: 2024 SEMICONDUCTOR CHIP APPLICATIONS 32
FIGURE 3.6: SMARTPHONE SHIPMENTS, WW ESTIMATES 35
FIGURE 3.7: GLOBAL LIGHT VEHICLE PRODUCTION FORECAST (IN MILLIONS OF UNITS) 36
FIGURE 3.8: US EV RETAIL SHARE FORECAST 37
FIGURE 3.9: AUTOMOTIVE SEMICONDUCTOR REVENUES HISTORY AND FORECAST (ESTIMATED, B$’S USD) 38
FIGURE 3.10: AI VALUE FORECAST ($B’S USD) 40
FIGURE 3.11: SCALE OF TODAY’S AI-CENTRIC DATA CENTERS 41
FIGURE 3.12: TSMC PHOENIX FAB INVESTMENT TO EXCEED US $65B 42
FIGURE 3.13: ESTIMATED GLOBAL FAB INVESTMENT 2024-2029 ($858.6B) 43
FIGURE 3.14: ANNOUNCED PUBLIC STIMULUS AND RESPECTIVE SEMICONDUCTOR CHIP MANUFACTURING REGIONS 44
FIGURE 3.15: SEMICONDUCTOR SUPPLY CHAIN EXPANSIONS WITHIN THE US 45
FIGURE 3.16: GLOBAL TOTAL EQUIPMENT SPENDING (US$ M) 46
FIGURE 3.17: TSMC LOGIC ROADMAP BY NODE 47
FIGURE 3.18: TECHCET WAFER START FORECAST BY NODE SEGMENTS (MILLIONS OF 200MM EQUIVALENTS PER YEAR) 51
FIGURE 3.19: TECHCET WORLDWIDE ELECTRONIC MATERIALS FORECAST ($M USD) 52
FIGURE 4.1: WET CHEMICALS AND SPECIALTY CLEANS SHIPMENT FORECAST BY SEGMENT 57
FIGURE 4.2: WET CHEMICALS AND SPECIALTY CLEANS REVENUE FORECAST BY SEGMENT 58
FIGURE 4.3: H2SO4 VOLUME FORECAST 59
FIGURE 4.4: H2SO4 REVENUE FORECAST 60
FIGURE 4.5: HF VOLUME FORECAST 61
FIGURE 4.6: HF REVENUE FORECAST 62
FIGURE 4.7: NH4OH VOLUME FORECAST 63
FIGURE 4.8: NH4OH REVENUE FORECAST 64
FIGURE 4.9: H2O2 VOLUME FORECAST 65
FIGURE 4.10: H2O2 REVENUE FORECAST 66
FIGURE 4.11: H3PO4 VOLUME FORECAST 67
FIGURE 4.12: H3PO4 REVENUE FORECAST 68
FIGURE 4.13: HCL VOLUME FORECAST 69
FIGURE 4.14: HCL REVENUE FORECAST 70
FIGURE 4.15: HNO3 VOLUME FORECAST 71
FIGURE 4.16: HNO3 REVENUE FORECAST 72
FIGURE 4.17: IPA VOLUME FORECAST 73
FIGURE 4.18: IPA REVENUE FORECAST 74
FIGURE 4.19: AL PERR VOLUME FORECAST 75
FIGURE 4.20: AL PERR REVENUE FORECAST 76
FIGURE 4.21: CU PERR VOLUME FORECAST 77
FIGURE 4.22: CU PERR REVENUE FORECAST 78
FIGURE 4.23: PCMP REVENUE FORECAST 79
FIGURE 4.24: PCMP CLEANS BY SLURRY TYPE 80
FIGURE 4.25: PCMP CLEANS BY DEVICE 81
FIGURE 4.26: MO ETCHING CHALLENGES 91
FIGURE 4.27: SIGE ETCHING CHALLENGES 91
FIGURE 4.28: 2025 WET CHEMICALS VOLUME SHARE FORECAST BY REGION 92
FIGURE 5.1: 2024 SPECIALTY CLEANS SUPPLIER MARKET SHARE BY REVENUE 101
FIGURE 5.2: TOP 10 SUPPLIERS QUARTERLY COMBINED SALES (INCLUDES BASF, EVONIK, HONEYWELL, MERCK, MGC, SOLVAY, FFEM, ENTEGRIS, DONGJIN, TOKUYAMA) 103
FIGURE 5.3: DUPONT CURRENT QUARTER FINANCIALS 104
FIGURE 5.4: FUJIFILM ELECTRONICS CURRENT QUARTER FINANCIALS 105
FIGURE 5.5: MERCK KGAA CURRENT QUARTER FINANCIALS 106
FIGURE 5.6: BASF CURRENT QUARTER FINANCIALS 107
FIGURE 5.7: HONEYWELL CURRENT QUARTER FINANCIALS 108
FIGURE 6.1: SUB-TIER MATERIAL SUPPLIER DEMAND SEMICONDUCTOR VS. INDUSTRIAL 119
FIGURE 6.2: FLUORSPAR PRICING 123
FIGURE 6.3: PHOSPHATE ROCK PRICING 123
FIGURE 6.4: ENERGY COST TRENDS (REPORTED BY ST. LOUIS FED 5/2025) 124
TABLES
TABLE 1.1: WET CHEMICALS AND SPECIALTY CLEANS GROWTH OVERVIEW 11
TABLE 3.1: GLOBAL GDP AND SEMICONDUCTOR REVENUES 26
TABLE 3.2: INITIALLY ANNOUNCED* US RECIPROCAL TARIFF SCHEDULE 27
TABLE 3.3: WORLDWIDE PC FORECAST BY SEGMENT 34
TABLE 3.4: IT MARKET SPENDING FORECAST, 2025 39
TABLE 4.1: PCMP CLEANS BY SLURRY TYPE CAGR 80
TABLE 4.2: PCMP CLEANS BY DEVICE TYPE CAGR 81
TABLE 4.3: WET CHEMICALS SUPPLIER MANUFACTURING LOCATIONS 83
TABLE 4.4: SPECIALTY CLEANS SUPPLIER MANUFACTURING LOCATIONS 83
TABLE 4.5: OVERVIEW OF ANNOUNCED 2024/2025 WET CHEMICALS AND SPECIALTY CLEANS SUPPLIER INVESTMENTS 85
TABLE 4.6: REGIONAL WET CHEMICALS AND SPECIALTY CLEANS MARKETS 93
TABLE 5.1: TIER 1 WET CHEMICALS SUPPLIERS 100
TABLE 5.2: MOST RECENT QUARTERLY WET CHEMICAL AND SPECIALTY CLEANS SUPPLIER SALES (IN LOCAL REPORTING CURRENCY) 102
TABLE 6.1: SEMICONDUCTOR–GRADE SUB-TIER MATERIAL SUPPLIERS 120
Press Release
Wet Chemicals on Track for Growth
San Diego, CA, March 17, 2025:
TECHCET the electronic materials advisory firm providing semiconductor materials supply chain information — is anticipating growth of ~3% for Wet Chemicals and Specialty Cleans used in semiconductor manufacturing in 2025. While small, this boost puts the segment on track for a continued upturn in 2026. Through 2029, the forecasted CAGR is ~5%, as highlighted in TECHCET’s Critical Materials Report on Wet Chemicals.
Semiconductor Wet Chemicals Revenue Forecast 2024-2029
Global supply and demand of wet chemicals remains balanced, however, there are concerns that the US and EU demand will be increasingly met by imports. While semiconductor chip manufacturing continues to regionalize, western supply chains are still heavily dependent on imports from Asia.
The new US administration is creating significant trade uncertainty, leaving the semiconductor industry impacted on up and down the semiconductor supply chain. The Trump administration is currently re-evaluating CHIPS Act semiconductor disbursements, delaying progress and CHIPS Act benefits to semiconductor device and materials manufacturers.
