New York, USA, Nov. 16, 2020 (GLOBE NEWSWIRE) -- A latest report on the global electronic chemicals market by Research Dive offers detailed insights into the impact of COVID-19 pandemic on the present and forthcoming growth of the global industry. The report is drafted by deeply evaluating major factors such as major market drivers & limitations, regional market conditions, latest trends & advances, and size & scope of the market in the course of the pandemic. The report states that the COVID-19 pandemic has made a negative impact on the global market growth.
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Factors Impacting the Market Growth during COVID-19 Pandemic
The global electronic chemicals market is anticipated to perceive significant growth and gather $35,056.9 million by 2026, despite the issues faced during the COVID-19 chaos. However, the pandemic has resulted in dearth of raw material supply and delayed shipment from numerous nations, due to which the electronic chemicals market is observing a fall in the growth rate.
Highlights of the Report
1. The global electronic chemicals market CAGR, as projected before the rise of the COVID-19 pandemic, was 6.3% in the forecast period, 2019—2026.
2. The global electronic chemicals market CAGR, as expected post the outbreak of the COVID-19 pandemic, is expected to be 6.0% throughout the forecast period, 2020—2027.
3. The global electronic chemicals sector size in 2020, as projected before the beginning of the COVID-19 pandemic, was $24,735.9 million.
4. The present market size (2020), surviving the consequences of the COVID-19 pandemic, is $18,551.9 million.
Check out How COVID-19 impacts the Global Electronic Chemicals Market. Click here to Connect with our Analyst to get more Market Insight: https://www.researchdive.com/connect-to-analyst/337
Present Scenario of the Market due to COVID-19 Crisis:
The electronic chemical producers have halted their production processes due to disruptions in the supply of raw materials and shortage of labors. For example, as per ET Markets, the electronic chemicals production has been impacted by almost 20% owing to the shortage of raw material supply from China. Moreover, as per the Independent Chemical Information Services (ICIS), there was around 15-20% reduction in the production of electronic chemicals due to logistic and supply chain disruptions. The stoppage of electronic chemical companies during the pandemic has resulted in huge revenue loss and decline in the growth of the electronic chemical industry.
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Future Scope of the Industry and Top Key Players:
According to the report, the global electronic chemicals market is likely to undergo continuous growth post-COVID-19 disaster. As per Research Dive analysts, the market is expected to recuperate from the losses incurred during the pandemic by second or third quarter of 2022. This is mainly due to growing developments in technologies, such as augmented reality, artificial intelligence, and memory chips, which use electronic chemicals for itching and cleaning purposes.
• BASF SE
• MacDermid, Inc
• Sumitomo Chemical Co. Ltd
• Honeywell International, Inc.
• Hitachi Chemical Co. Ltd.
• Air Liquide SA
• Merck KGaA
• SIDLEY CHEMICAL CO.,LTD.
• Solvay S. A.
The report provides several tactics and strategies of the leading players functioning in the market such as the financial performance, newest strategic plans & developments, product/service range, and SWOT analysis.
The report mentions numerous factors of all the crucial market players that are active in the market. Some features such as financial performance, present strategic plans, product file, developments and SWOT scrutiny are also included in the report. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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Mr. Abhishek Paliwal
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November 16, 2020 at 09:00PM
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Global Electronic Chemicals Market to Surpass $35,056.9 Million by 2026, Despite the COVID-19 Disaster - [170 pages] Exclusive Report by Research Dive - GlobeNewswire
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