Intel’s promise to demo “innovative wearables” has fans raving about further product innovation in the consumer electronics industry. Intel’s hope for new consumer electronics is that companies will begin the creation of wearable devices beyond the already successful market of smart watches, smart glasses and fitness trackers.
In fact, rapid growth in the global electronics sector is pushing these innovation initiatives for companies like Intel, who are a recognized industry leader.
Although Intel’s initiatives are revolutionizing consumer electronics, for many manufacturers the cost of raw materials is constantly fluctuating, creating a heavy demand and even heavier competition among vendors.
In turn, such small but powerful aspects of the Global Electronic Chemicals and Materials Market are hindering the growth of the market, which is why it is only expected to grow at a CAGR of 5.69 percent for the 2014-2018 period.
Massive technological advancements in the production of electronic chemicals are clearly showing an enhancement in quality and performance of consumer electronics. This innovative trend of adopting new technologies should continue, along with the increase in the number of applications for consumer electronics and a rising demand of diverse products.
In addition to innovation of consumer electronics helping drive the growth of the Global Electronic Chemicals and Materials Market, the cost of producing consumer electronics is dropping. This cost should decrease even further through adoption of new technologies and equipment.
The increasing demand for consumer electronics has come from the electronics industry growing at such a rapid pace that it led to a high demand for high-purity electronic chemicals and materials. Such materials are extensively used in manufacturing of consumer electronics, so innovation from companies like Intel is at the forefront of supporting The Global Electronic Chemicals and Materials Market growth.
A delicate balance needs to exist between drivers like innovation and cost of raw materials for The Global Electronic Chemicals and Materials Market to sustain its projected growth. Thus, a particular problem that may severely alter its growth lies in global economic uncertainty. For instance, manufacturers of electronic chemicals and materials must adopt various manufacturing techniques based on the use of consumer electronics and this type challenge requires substantial capital infusion.
Because of this adoption, and shaky economic conditions around the globe, many vendors may potentially reduce their operating costs and product prices. Thus, it is evident that such changes in economic conditions may see a drop off in demand for consumer electronics, which will force a massive decline on demand for electronic chemicals and materials. Altogether, this type of scenario will hinder the growth of the Global Electronic Chemicals and Materials Market, so it is important to be aware of such pressures.
For more information, view our 2014-2018 Global Electronic Chemicals and Materials Market report.
You might also be interested in:
- Global Non-ferrous Metals Market 2014-2018
- Global Aluminum Market 2014-2018
- Global Industrial Mixer Market 2014-2018
