Perchloric Acid Market Is Expected To Expand At 3.4% CAGR, Reaching US$ 1,520.8 Million By 2034 | Fact.MR Report

(MENAFN- GlobeNewsWire - Nasdaq) Technological advances, industrialization, and broader applications are providing a basis for market growth that offers substantial prospects for manufacturers and investors

Rockville, MD , Feb. 03, 2025 (GLOBE NEWSWIRE) -- The global perchloric acid market was valued at US$ 1,088.6 million in 2024 and has been forecasted to expand at a noteworthy CAGR of 3.4% to end up at US$ 1,520.8 Million by 2034. The Global Perchloric Acid Market is witnessing enormous growth, considering its increased consumption in several applications of high demand, including rocket propellants, pharmaceuticals, and electronics.

The perchloric acid market is to grow up, with growth in demand for the chemical industry and aerospace sector. This growth stems from improvements in manufacturing technologies along with the diversification of those industries that apply perchloric acid in highly specialized processes. The demand for cleaner and more efficient chemical processes will continue to increase, keeping the global perchloric acid market on track for sustained growth.

The primary growth drivers of the aerospace and automotive industries, as these industries continue to be in pursuit of innovation and high performance, will lead the perchloric acid market. Perchloric acid demand in manufacturing applications is rising due to increased usage in chemical syntheses and laboratory processes within the chemical industry. Market growth is mainly led by the growing markets in Asia Pacific, especially with increasing industrialization and the adoption of newer technologies. Perchloric acid is anticipated to support demand driven by a clean and green shift in industrial processing around the world.

In fact, as an example, On August 2023, ChemTech Solutions formed a strategic alliance with GreenChem Industries to expand production and distribution of perchloric acid. It utilizes ChemTech's best-in-class manufacturing capabilities together with the vast distribution network of GreenChem, enabling a streamlined supply chain for aerospace and defense applications.

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Key Takeaways from Market Study:

• The Perchloric Acid market is projected to grow at 4% CAGR and reach US$ 1,520.8 million by 2034
• The market created an absolute $ opportunity of US$ 432.2 million between 2024 to 2034
• North America is a prominent region that is estimated to hold a market share of 4% in 2034
• North America, is expected to create an absolute $ opportunity of US$ 130.2 million

“Growing aerospace demand, increasing chemical manufacturing activities, advancements in electronics, and expanding industrial applications across emerging economies will drive the market” says a Fact.MR analyst.

Leading Players Driving Innovation in the Perchloric Acid Market:

Avantor; Calibre Chemicals Pvt. Ltd.; GFS Chemicals; Honeywell; MilliporeSigma; Prasol Chemicals Limited; Seastar Chemical Inc.; Thermo fisher Scientific; Tianjin Xinyuan Chemical; Vizag chemical; Other key players

Market Development:

The global perchloric acid market intends to spread out more in emerging regions, where the acceleration of industrialization in Asia Pacific and Latin America is increasingly significant. The strategy then becomes increasing market share by promoting partnership agreements with major companies such as those within aerospace, chemical, and pharmaceutical businesses in order to become more innovative and enhance production processes.

The market will further focus on the launch of more sustainable and eco-friendly solutions of perchloric acid catering to the emerging need for greener manufacturing processes. Strengthening regulatory compliance and safety standards will also form the basis of securing long-term growth and leadership in the market.

Perchloric Acid Industry News:

• On June 2023, Global Chemicals Corp. has acquired Specialty Chemicals Ltd., a leading company in the perchloric acid market, thus bringing into its fold the product portfolio of this company to improve it and expand its market reach into the Asia-Pacific region by establishing a synergy in production and distribution.
• On May 2023, Apex Chemical Industries will raise its capacity to produce perchloric acid at its Ohio plant by 50%. The increased capacity is set to meet a rise in demand for the product in the electronics and aerospace industries, which will begin early in 2024.

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More Valuable Insights on Offer:

Fact.MR, in its new offering, presents an unbiased analysis of the The Perchloric Acid market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.

The study reveals essential insights on the basis of the Grades (Technical Grade, Reagent Grade, Purified Grade), Type (Purity:<70%, Purity:>=70%), Application (Aerospace & Defense, Chemical, Pharmaceuticals, Laboratories and Research), across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and Middle East & Africa).

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