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Industrial gases major Linde reported a 15% year-on-year increase in the electronics end market during the third quarter, driven by organic growth across Asia-Pacific and the US.
“The star of the show really has been electronics in China…electronics industrial production has grown about 17% in the quarter…driving a lot of the growth within that space,” CEO Sanjiv Lamba shared during Linde’s Q3 earnings call.
Lamba noted that Linde’s Taiwan joint venture is not included in the 15% electronics growth figure. However, he shared it is growing at similar rates.
He said the company has around $2bn of electronics projects under construction in the US, Korea, and China, providing a strong foundation for continued double-digit growth.
This comes after Lamba said he expects electronics to remain the and one of the fastest-growing markets for the foreseeable future during Linde’s Q2 earnings call.
In July, the company shared it will in its existing industrial gas complex in Phoenix, Arizona, to supply ultra-high-purity gases to what it describes as one of the world’s largest semiconductor manufacturers.
Moving forward, Lamba said he expects Linde to win “more than its fair share” of electronics prospects in Taiwan, South Korea, the US, and China.
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