Air Liquide Electronics Gains Highlight Specialty Chemicals

Air Liquide Reports 12% Electronics Sales Growth on Semiconductor Gas Demand

PARIS, France — October 29, 2026 — Air Liquide reported on Thursday that sales in its Electronics business rose 12% on a comparable basis in the third quarter of 2026, supported by semiconductor demand linked to artificial intelligence. The results draw attention to the role of high-purity gases and materials in the specialty chemicals market.

The French industrial gases group said revenue reached nearly €7.3 billion for the quarter ended September 30. That was up 4.3% excluding currency and energy effects and 3% on a comparable basis. Gas & Services activities grew 3.6% on a comparable basis, with Industrial Merchant up 5%. Asia-Pacific and the Americas advanced 7% and 6% respectively on a comparable basis.

Chief Executive François Jackow said volume growth in Electronics and Industrial Merchant accelerated beyond pricing effects, and that the company’s carrier gases and advanced materials are essential to semiconductor demand for AI. He said conditions remain volatile. Air Liquide said its investments in Electronics have almost doubled in nine months compared with the full year 2025.

According to Next Move Strategy Consulting, the specialty chemicals market was valued at USD 563.76 billion in 2023. It is predicted to reach USD 762.08 billion by 2030, a compound annual growth rate of 4.4% from 2024 to 2030.

Key Highlights:

• Electronics comparable sales rose 12%, which Air Liquide attributed to sustained semiconductor demand for AI.

• Investment decisions totaled €1.25 billion in the quarter and more than €4.1 billion since the start of 2026, the company said.

• In Japan, Air Liquide is investing more than €170 million to support a leading semiconductor manufacturer’s expansion. It will build, own and operate production units supplying large volumes of ultra-pure gases.

• In the United States, it is investing more than USD 150 million in a new industrial gas plant in Idaho for advanced memory chip manufacturing, and more than USD 170 million in two production units in Indiana to supply SK hynix’s first US site.

Analyst Insight:

According to analysts at Next Move Strategy Consulting, increasing demand for specialty chemicals in the electronics industry is a principal growth factor for the market. Semiconductor makers rely on specialty chemicals for photolithography, chemical vapor deposition and etching to produce integrated circuits with smaller features and higher performance.

NMSC analysts note that Asia-Pacific dominates the market and is expected to remain dominant, driven by demand for specialized materials in electronic components and semiconductor manufacturing. They add that raw material price fluctuations, often tied to petrochemicals and natural resources, remain a restraint, while nanomaterials are expected to create future opportunities.

Industry Outlook:

Air Liquide’s disclosures show investment concentrated in on-site supply of ultra-pure gases to semiconductor sites. NMSC lists semiconductor gases within the electronic chemicals category of its specialty chemicals coverage, alongside wet chemicals, CMP materials, photo chemicals and packaging materials. NMSC projects the specialty chemicals market to grow at a 4.4% CAGR through 2030. Whether electronics demand keeps outpacing other end markets will depend on semiconductor capacity additions, in an environment Air Liquide described as volatile.

Source: Air Liquide

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Prepared By: Sanyukta Deb