Electronic-grade sulfuric acid finds essential applications in high-tech industries. It is primarily used in the semiconductor industry for cleaning and etching silicon wafers during microchip fabrication. Its high purity and low impurities make it ideal for sensitive electronic processes, ensuring optimal performance and reliability of electronic components. Electronic grade sulfuric acid is also employed in manufacturing printed circuit boards, photovoltaic cells, and other electronic devices, where precision and purity are critical for producing advanced and high-quality electronic products.
According to Data Bridge Market Research, the Global Electronic Grade Sulfuric Acid Market accounted for USD 328.90 million in 2021 and is expected to reach USD 532.18 million by 2029. The market is expected to grow with a CAGR of 6.20% in the forecast period of 2022 to 2029.
“High usage across various end-user industries boosts the market’s growth”
The electronic grade sulfuric acid market is experiencing growth due to its high usage across various end-user industries. Electronic grade sulfuric acid is used in the semiconductor industry for cleaning and etching silicon wafers. It is also employed in the production of printed circuit boards, photovoltaic cells, and other electronic components. With the increasing demand for electronic devices and technological advancements, the consumption of electronic grade sulfuric acid has surged, propelling the market's growth and driving its adoption in diverse electronic applications.
What restraints the growth of the global electronic grade sulfuric acid market?
“Fluctuations in raw material prices restraints the market’s growth”
The electronic grade sulfuric acid market faces restraints due to fluctuations in raw material prices. Sulfuric acid production relies on raw materials such as sulfur and oleum, which are subject to price volatility. As a result, the manufacturing cost of electronic grade sulfuric acid can fluctuate, affecting its market price and demand. Manufacturers may encounter challenges in maintaining competitive pricing, which could hinder market growth and impact the adoption of electronic grade sulfuric acid in various high-tech industries.
Segmentation: Global Electronic Grade Sulfuric Acid Market
The global electronic grade sulfuric acid market is segmented on the basis of type, grade, product, application, and end user.
- On the basis of type, the global electronic grade sulfuric acid market is segmented into sulfuric acid 95%, sulfuric acid 96%, sulfuric acid 97%, sulfuric acid 98%, sulfuric acid 99%.
- On the basis of grade, the global electronic grade sulfuric acid market is segmented into parts per million (ppt), and parts per billion (ppb).
- On the basis of product, the global electronic grade sulfuric acid market is segmented into pressure sensor, Temperature Sensors, motion sensor, image sensor, proximity sensor, fingerprint sensor, and others.
- On the basis of application, the global electronic grade sulfuric acid market is segmented into semiconductors, P.C.B. panels, pharmaceuticals.
- On the basis of end user, the global electronic grade sulfuric acid market is segmented into entertainment, communication and I.T., home appliances, and wearable devices.
Regional Insights: North America dominates in the Global Electronic Grade Sulfuric Acid Market
North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029 due to sulfuric acid's increasing usage across various industries is attributed to its versatility and effectiveness as a preferred choice for multiple applications. Its wide range of uses in different sectors within the region has contributed significantly to the market's growth and expansion.
Asia-Pacific is estimated to show lucrative growth over the forecast period of 2022-2029 due to increasing industrialization and urbanization, creating higher demand for the chemical in various sectors. Additionally, the rising production of electronic goods in economies such as India and China contributes to the market's expansion, as sulfuric acid is used in electronic manufacturing processes.
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Recent Development
- In 2021, BASF SE, along with Zhejiang Jiahua Energy Chemical Industry Co. Ltd. and its subsidiary Zhejiang Jiafu New Material Technology Co. Ltd., have entered into an agreement to enhance the production of electronic-grade sulfuric acid in China. The objective of this collaboration is to cater to the increasing demands of customers in China. The planned production facility is expected to be operational by 2023, ensuring a steady supply of electronic-grade sulfuric acid for the growing electronic industries in the region.
The Prominent Key Players Operating in the Global Electronic Grade Sulfuric Acid Market Include:
- INEOS (U.K.)
- K.M.G. Chemicals (U.S.)
- Chemtrade Logistics. (Canada)
- KANTO KAGAKU. (Japan)
- Linde plc (Ireland)
- P.V.S. Chemicals (U.S.)
- Spectrum Chemical (U.S.)
- Columbus Chemicals (U.S.)
- ASIA UNION ELECTRONIC CHEMICAL CORP. (U.S.)
- Chung Hwa Chemical Industrial Works, Ltd. (Taiwan)
- Aurubis AG (Germany)
- Merck KGaA (Germany)
- Nouryon - Chamber of Commerce (Netherlands)
- Seastar Chemicals Inc (Canada)
- Supraveni Chemicals Pvt. Ltd (India)
- Moses Lake Industries (U.S.)
- BASF SE (Germany)
Above are the key players covered in the report, to know about more and exhaustive list of global electronic grade sulfuric acid market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Electronic Grade Sulfuric Acid Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
