… Some chipmakers have been reviewing their supply chains to scan for potential fallout from conflict in Ukraine. One person at a chipmaking company who declined to be named acknowledged that it has been looking into its supply of neon and other gases, some of which originate in Ukraine.

"Even if there was a conflict in Ukraine it wouldn't cut off supply. It would drive prices up," the person said. "The market would constrict. Those gases would become pretty scarce. But it wouldn’t stop semiconductor manufacturing," he added.

According to one power chip design startup executive, unrest in Ukraine has caused rare gas prices to increase and could cause supply issues. Fluorine is another gas that has a large supply from that part of the world and could be affected, the executive added.

William Moss, a spokesperson for Intel Corp , said the chipmaker was not anticipating any impact to neon supply.

But the issue is still concerning, because global chip supplies are tight and chip orders are only expected to pick up. Techcet estimates demand for all the materials will rise by more than 37% over the next 4 years, pointing to recent announcements by Intel, Samsung (005930.KS), and Taiwan's TSMC in Ohio, Arizona and Texas.

Neon prices rose 600% in the runup to Russia's 2014 annexation of the Crimean peninsula from Ukraine, since chip firms relied on a few Ukrainian companies, according to the U.S. International Trade Commission.