(MENAFN- IMARC Group)
IMARC Group, a leading market research company, has recently releases report titled
“Electronic Grade Sulfuric Acid Market: Global industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032, ” The study provides a detailed analysis of the industry, including the global
electronic grade sulfuric acid market trends, size, share, and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the electronic grade sulfuric acid market ?
The global electronic grade sulfuric acid market size reached US$
349.6
Million in
2023. Looking forward, IMARC Group expects the market to reach US$
539.0
Million by
2032, exhibiting a growth rate (CAGR) of
4.93%
during
2024-2032.
Factors Affecting the Growth of the Electronic Grade Sulfuric Acid Industry:
Rapid Technological Advancements in the Semiconductor Industry:
The increasing demand for high-purity chemicals in the manufacturing processes as electronic devices become more sophisticated is one of the major factors bolstering the market growth. In line with this, the growing utilization of electronic grade sulfuric acid, due to its role in cleaning and etching semiconductor wafers, that is essential in achieving the ultra-clean surfaces required for advanced semiconductor fabrication, is favoring the market growth. Additionally, the rising miniaturization of electronic components, boosting the application of electronic grade sulfuric acid as any contamination can lead to significant performance issues or device failure, is fueling the market growth. Along with this, the widespread integration of semiconductors in various sectors, including automotive, healthcare, and consumer electronics, propelling the need for high-purity sulfuric acid is enhancing the market growth.
Expansion of the Electronics Sector:
The widespread expansion of the electronics sector due to the increasing production of electronic devices, the proliferation of digital technologies, and the escalating consumer demand for electronic gadgets is stimulating the market growth. Along with this, the growing utilization of smartphones, computers, and electronic wearables that require high-purity chemicals for their manufacturing processes, is fostering the market growth. Moreover, the increasing adoption of electronic-grade sulfuric acid for the cleaning, etching, and doping processes in the manufacturing of semiconductor devices is providing a thrust to the market growth. Furthermore, the imposition of favorable government policies, such as the establishment of special economic zones (SEZs) and investments in technology parks that encourage local semiconductor production, is contributing to the market growth.
Implementation of Stringent Environmental and Quality Regulations:
The imposition of stringent environmental and quality regulations across the globe on the purity of chemicals that are used in the semiconductor industry to prevent contamination is a major factor fueling the market growth. Along with this, the development of sophisticated production and purification technologies that minimize impurities and environmental impact to adhere to compliance is favoring the market growth. Furthermore, the increasing environmental awareness and the ongoing demand for sustainable manufacturing practices, compelling companies to adopt cleaner and more advanced technologies in chemical production, is acting as a growth-inducing factor. Additionally, the rising emphasis on reducing chemical waste and ensuring the recyclability of materials, influencing the demand for high-quality and pure sulfuric acid, is supporting the market growth.
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What are the growth prospects and trends in the electronic grade sulfuric acid industry?
The heightened integration of artificial intelligence (AI) and machine learning (ML) in the manufacturing processes of electronic components that enable more precise control and monitoring of the production environment while ensuring the consistent quality and purity of sulfuric acid is favoring the market growth. Besides this, the burgeoning demand for electric vehicles (EVs) and renewable energy systems, necessitating the use of high-purity chemicals like electronic grade sulfuric acid, for advanced batteries and photovoltaic cells, is anticipated to drive the market growth. Furthermore, the ongoing shift towards fifth-generation (5G) technology and the expansion of the Internet of Things (IoT) ecosystem, boosting the adoption of sophisticated semiconductor chips and sensors that require the use of high-purity chemicals in their manufacturing processes, is enhancing the market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Grade:
Parts Per Trillion (PPT) Parts Per Billion (PPB)
Parts per trillion (PPT) accounted for the largest market share as it represents the highest purity level required for advanced semiconductor manufacturing.
Breakup by Application:
Semiconductors PCB Panels Pharmaceuticals
The semiconductor industry represented the largest segment due to the extensive use of electronic grade sulfuric acid in semiconductor manufacturing, which is crucial for cleaning, etching, and doping processes in the production of integrated circuits (ICs) and other electronic components.
Market Breakup by Region:
North America (United States, Canada) Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others) Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others) Latin America (Brazil, Mexico, Others) Middle East and Africa
Asia Pacific's dominance in the electronic grade sulfuric acid market is attributed to the presence of major electronics manufacturing hubs and semiconductor production facilities, driven by substantial technological advancements, and the growing demand for electronic devices.
Who are the key players operating in the industry?
The report covers the major market players including:
Chemtrade Logistics Inc. Fujifilm Holdings Corporation (Sumitomo Mitsui Banking Corporation) Kanto Chemical Co. Inc. Linde plc Moses Lake Industries Inc. (Tama Chemicals Co. Ltd.) PVS Chemical Solutions Inc. Trident Limited India
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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