LIN · Earnings call · 2026Q3T · Full report

Electronics Market Growth

LINDE PLC · 2026-10-29 · Importance 54 · Surprise 40 · In source text

Electronics grew 15% in the quarter, primarily through organic growth across APAC and the U.S.; Linde’s 50% Taiwanese joint venture grew at similar rates. Management expects double-digit electronics growth to continue, supported by about $2 billion of projects under execution in the U.S., Korea and China with staggered start-ups over the next two to three years. Growth includes both atmospheric gases and electronic specialty gases, including high-value cylinder products. Linde cited a robust project pipeline with leading customers including TSMC and other top electronics players across Taiwan, South Korea, the U.S. and China, while noting disciplined selectivity on shorter-cycle memory projects.

Key facts

• LINDE PLC expected electronics growth to remain double-digit, supported by approximately $2 billion of backlog projects under execution with staggered start-ups over the next two to three years.
• LINDE PLC had approximately $2 billion of electronics projects under construction in the U.S., Korea and China, supporting continued double-digit growth.
• LINDE PLC’s electronics sales grew 15%, primarily driven by organic growth across APAC and the U.S.; the figures exclude its 50% Taiwanese joint venture, which is growing at similar rates.
• LINDE PLC said it had a robust electronics project pipeline, including projects with TSMC and other U.S. players, and existing relationships with each of the top 10 electronics players across Taiwan, South Korea and the U.S.
• LINDE PLC said electronics industrial production in China grew about 17% in the quarter, driving much of growth in that space.

Impact estimates