Global Propylene Glycol Methyl Ether Acetate (PGMEA) for Electronic Materials Market Size, Share & Trends Report by Type (Purity(GC)% Above 99.5% and Purity (GC)% Above 99.9%) and by Application (Production Solvents and Cleaning Solvents) Forecast (2022-2028)

The global propylene glycol methyl ether acetate (PGMEA) market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). The PGMEA is a photoresistor thinner that is generated as a waste during the display and semiconductor material manufacturing processes. The rise in the demand for the electric industry is anticipated to drive the global PGMEA market. For instance, according to the data published by International Energy Agency (IEA) in 2022, strong economic growth, combined with colder winters and warmer summer has driven the global electricity demand by more than 6.0%. Coal-fired generation grew by 9.0% serving more than the half of increase in demand, a gas-fired generation grew by 2.0%, while nuclear surged by 3.5%. Moreover, as per the same source, the global electricity demand for 2022-2024 is anticipated to rise by 2.7% annually. Thus , the rise in demand for electricity is anticipated to drive the PGMEA market globally.

According to the data published by India Brand Equity Foundation (IBEF) in 2021, India has a rapidly growing electronic system design manufacturing (ESDM) industry. Also, India consists of a significant design base with more than 120 units. For instance, according to the Department of Electronics and Information technology (DietY), approximately 2000 semiconductor chips are being designed annually and more than 20,000 employees are working on various aspects of chip design and verification. Moreover, several subsidies and other incentives are on offer for setting up electronics manufacturing units in India. For instance, according to the data published by Times of India (ToI) in February 2022, the Government of India has unveiled an Rs.76000 crore ($9.9 billion) package in 2021, for the development of India’s semiconductor and display manufacturing ecosystem. Thus, the rise in the spending and production of semiconductors is anticipated to drive the demand for the PGMEA market globally.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
  • By Application
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- Dow Chemical Co., Shell Chemical, Eastman Chemical Co., and Dynamic Intl among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Propylene Glycol Methyl Ether Acetate (PGMEA) Market Report by Segment

By Type

• Purity(GC)% Above 99.5%
• Purity(GC)% Above 99.9%

By Application

• Production Solvents
• Cleaning Solvents

Global Propylene Glycol Methyl Ether Acetate (PGMEA) Market Report by Region

North America

• United States
• Canada

Europe

• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe

Asia-Pacific

• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific

Rest of the World

• Latin America
• Middle East & Africa