High-purity chemicals are short for ultra-clean high-purity chemicals, also known as wet electronic chemicals, which are subdivisions with higher requirements for quality and purity in chemical reagent products. High purity chemicals are the key chemical materials in the electronic industry, and their quality directly affects the yield, electrical properties and reliability of electronic products, and has a significant impact on the industrialization of electronic material manufacturing technology. Therefore, the development of the electronics industry requires high purity chemicals to develop in tandem with it and constantly update to meet the needs of its continuous innovation in technology.

In recent years, the rapid growth of domestic wafer production capacity, according to SEMI is expected that in 2021, China's 8-inch wafer production capacity will account for about 18% of the world, higher than China's Taiwan, Japan and other regions, becoming the world's first.

The increase in fab capacity drives the demand for upstream wet electronic chemicals. Wet electronic chemicals belong to the branch of electronic chemicals field, is a variety of liquid chemical materials used in microelectronics, photoelectronic wet process process, mainly used in semiconductors, display panels and solar energy three major fields.

According to the data of the China Electronic Materials Industry Association, the market size of China's wet electronic chemicals was 2.78 billion yuan in 2011 and 13.78 billion yuan in 2021, with a compound annual growth rate of 17.3%, which is expected to reach 16.39 billion yuan in 2022 and 30.17 billion yuan in 2028.

In 2021, the demand for wet electronic chemicals in China is 2.135 million tons, the demand for semiconductors is 703,000 tons, and it is expected that by 2025, the demand for wet electronic chemicals in China will reach 3.696 million tons.