Wet electronic chemicals, also known as ultra-clean high-purity process reagents, are indispensable basic chemical materials for the integrated circuit, advanced display, and photovoltaic manufacturing supply chains. The purity and impurity control of these materials directly affect the production yield and final performance of downstream electronic products. As semiconductor process nodes continue to scale down, the industry is entering a developmental window in which domestic supply chain emergence and product technology upgrades are advancing in tandem. Meanwhile, practical challenges persist, including high technical barriers in premium categories and an unbalanced global supply landscape. 

I.Industry Fundamentals: Prominent Technical Attributes and Tiered Downstream Applications 

Under the standards of the Semiconductor Equipment and Materials International (SEMI), wet electronic chemicals are classified into G1-G5 grades. The purity of primary components must exceed 99.99%, with G5 grade requiring metal impurity control at ≤0.01 μg/L, suitable for advanced process nodes at 0.09 μm and below. Products are divided into two major categories: general-purpose and functional. General-purpose wet electronic chemicals, comprising acids, alkalis, and high-purity organic solvents, exhibit stronger standardization and accounted for approximately 88% of domestic demand in 2019. Functional wet electronic chemicals include etching solutions, polishing slurries, and developing solutions, characterized by higher customization, with formulation systems serving as core technical assets for enterprises. The industry features rapid technological iteration, substantial capital investment, lengthy customer certification cycles, and strong customer loyalty, with select premium product gross margins potentially exceeding 40%. Downstream demand differentiation is notable: photovoltaics predominantly use G2-G3 grade general-purpose reagents with lower profitability; display panels adopt G3-G4 grade products with rising functional chemical share; integrated circuits, particularly advanced processes at 28 nm and below, primarily require G4-G5 grade products commanding the highest value-added margins.

II. Market Size: Steady Global Expansion and Robust Domestic Growth 

In 2024, the global wet electronic chemicals market reached approximately USD 10.102 billion, up 3.6% year-on-year. Integrated circuits represent the largest demand source at approximately 70%. Electronic-grade sulfuric acid, hydrogen peroxide, copper etching solutions, and CMP polishing slurries are the four core categories, collectively accounting for approximately 71% of the global market. Domestic demand has grown robustly, with total demand reaching approximately 4.5097 million tons in 2024, a year-on-year increase of 22.3%, driven by capacity expansion in integrated circuits and display panels with demand growth rates of 30.23% and 18.71%, respectively. Institutions project domestic demand to reach 5.9464 million tons by 2028. In 2024, the domestic market size stood at approximately RMB 22.36 billion, with the integrated circuit segment at RMB 7.93 billion (+9.99% YoY) and the display panel segment at RMB 7.52 billion (+8.67% YoY) achieving steady growth, while the photovoltaic segment was affected by volume growth amid price declines. 

III. Competitive Landscape: Overseas Dominance in High-End Market and Phased Domestic Substitution 

In 2023, global market share distribution showed European and American enterprises at approximately 30%, Japanese enterprises at 27%, Taiwan, China manufacturers at 18%, Korean manufacturers at 10%, and mainland Chinese enterprises at 14%, with the remaining 1% from other regions. Leading overseas enterprises including BASF, DuPont, and Kanto Chemical maintain strong competitiveness in G4/G5 grade products. Domestic substitution is advancing in phases: the localization rate for photovoltaic-grade wet electronic chemicals approaches 100%; the display panel sector has reached 54%; the localization rate for semiconductor-grade wet electronic chemicals rose from 23% in 2020 to 44% in 2023. For general-purpose chemicals, electronic-grade sulfuric acid, hydrogen peroxide, and hydrofluoric acid have achieved batch supply for processes at 28 nm and above on 12-inch wafers, with domestic enterprises holding a combined market share of approximately 55%. Progress in functional chemicals has been relatively slower, with high-end CMP polishing slurries, EUV-compatible developing solutions, and semiconductor electroplating solutions remaining highly import-dependent. The localization rate for semiconductor electroplating solutions is below 5%. 

IV. Key Sub-Sectors: Capacity Expansion for General Chemicals and Breakthrough Efforts for Functional Materials 

Among general-purpose categories, electronic-grade sulfuric acid at G5 level has completed supply verification for 12-inch wafers; the domestic market leader for electronic-grade hydrogen peroxide holds over 40% market share, with G5 grade products controlling metal impurities within 1 ppt; domestic production capacity for electronic-grade hydrofluoric acid accounts for over 80% of the global total, though supply gaps persist for premium semiconductor-grade products. For functional categories, the global CMP polishing slurry market is led by American and Japanese enterprises, with Anji Technology achieving mass production at 14 nm and below, holding approximately 11% global market share in 2024. Etching solutions for display panels are predominantly domestically supplied, while etching solutions for integrated circuits are undergoing downstream verification. TMAH developing solutions are domestically led in the panel sector, though semiconductor-grade products remain import-dependent, with domestic enterprises advancing verification for 28 nm grade products. 

As advanced process nodes continue to drive demand for functional additives and buffering components, 2-amino-2-methyl-1-propanol, a specialty amino alcohol fine chemical, is increasingly entering the wet electronic chemicals supply chain, forming deep synergies with the ongoing iteration and domestic substitution of China's wet electronic chemicals industry. Risun Group has been deeply engaged in the amino alcohol sector for many years. Leveraging proprietary synthesis processes and high-purity refining technologies, the Group has achieved stable mass production of high-quality 2-amino-2-methyl-1-propanol, with product purity meeting electronic-grade standards and rigorous metal impurity control. Featuring both primary amine and hydroxyl functional groups, the product offers a buffering range well-suited for alkaline conditions in electronic processes, with significantly lower volatility compared to traditional ammonia solutions. It can serve as a pH buffering agent and dispersing aid in developing solutions, specialty cleaning agents, and etching formulation systems, effectively improving formulation stability and reducing process variability risks. Risun's amino alcohol products offer sufficient production capacity, strong batch-to-batch consistency, and flexible supply chain responsiveness, having established stable partnerships with multiple downstream customers. The Group will continue to empower the improvement of China's wet electronic chemicals supply system and the overall upgrading of the industrial chain. 

Disclaimer: This article is compiled based on publicly available information and is intended solely for industry exchange and reference. It does not constitute investment or business decision-making advice. Certain data are sourced from public channels and are not guaranteed to be fully accurate. Product-related content is for industry introduction purposes only and does not constitute a transactional commitment.