Electronic Grade Hydrofluoric Acid Market Size & Share, by Application (Solar Cells/Photovoltaics, Microelectronics, Semiconductors); Grade Type (UP, UP-S, UP-SS, EL); Concentration (49%, >49%) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5896
  • Published Date: Mar 19, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Electronic Grade Hydrofluoric Acid Market size is poised to reach USD 1 Billion by the end of 2036, growing at a CAGR of 8% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of electronic grade hydrofluoric acid was USD 370 Million. The reason behind the growth is impelled by the growing spending on electronics across the globe. Consumer gadgets are becoming increasingly common in high- and middle-class households as a result of mounting urbanization, growing advancements in technology, evolving customer tastes, and an increasing requirement for affordable, user-friendly, high-performing devices.

According to estimates, global spending on TVs, radios, and multimedia products, such as digital cameras, headphones, and speakers, is predicted to increase by over USD 4 billion on an annual basis to reach around USD 194 billion in 2024.

  The growing focus on sustainability is believed to fuel the electronic grade hydrofluoric acid market growth. Hydrofluoric acids of electronic grade are essential in the production of passive electronic components such as inductors, which store energy in a magnetic field temporarily when an electric current passes through their coil as they possess a greater efficiency than resistors and the ability to temporarily store energy.


Electronic Grade Hydrofluoric Acid Market
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Electronic Grade Hydrofluoric Acid Market: Growth Drivers and Challenges

Growth Drivers

  • Rising Adoption of Renewable Energy – Electronic Grade Hydrofluoric Acid is frequently used to clean silicon wafers in photovoltaic cells which are the primary component of silicon-based solar cells, use silicon as their basis to convert sunlight into electricity. For instance, by 2026, renewable energy sources will contribute over 92% of the increase in global power capacity; solar photovoltaics alone will account for more than half of this increase.
  • Growing Adoption of Advanced Technologies such as IoT, and Artificial Intelligence- In electronic systems used in IoT devices and artificial intelligence, semiconductors, and microelectronics are crucial components, which necessitates the use of electronic grade hydrofluoric acid since these devices call for smaller and more intricate electronic components. For instance, it is projected that by 2030, there will be over 28 billion Internet of Things (IoT) devices globally, nearly doubling from 15 billion in 2020.
  • Increasing Sale of Electric Vehicles- The need for electronic-grade hydrofluoric acid is expected to rise owing to the need for improved electronic components and chipsets in electric vehicles that are utilized in inverter power modules, which are used as the primary drive-in electric cars. For instance, an electric vehicle (EV) typically has more than 2,000 chips, which is more than twice as many as a non-EV.

Challenges

  • Fluctuations in the prices of raw materials - Calcium and fluorine combine to form the industrial mineral fluorite which is mined in more than 15 nations and can be extracted from quarries, open pits, and underground mines. Moreover, fluorite tends to shatter into tiny fragments after being mined, which makes it challenging to extract, and owing to stringent mining regulations and safety checks, the supply of fluorspar is expected to remain limited, which may hamper the electronic grade hydrofluoric acid market growth.
  • Strict regulations owing to the toxic nature can increase the overall complexity
  • Manufacturing of Electronic Grade Hydrofluoric Acid Lacks Standardization

Electronic Grade Hydrofluoric Acid Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~8%

Base Year Market Size (2023)

~ USD 370 Million

Forecast Year Market Size (2036)

~ USD 1 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Electronic Grade Hydrofluoric Acid Segmentation

Concentration (49%, >49%)

The >49% segment in electronic grade hydrofluoric acid market is estimated to gain a robust revenue share of 60% in the coming years owing to the growing demand for semiconductors. The worldwide semiconductor market is expected to reach trillion-dollar status by 2030 and is expected to increase at a rate of over 9% over the next ten years owing to the widespread deployment of 5G, the growing need for smartphones, and the robust demand for AI chips. Etching is a sophisticated technology used in the semiconductor industry that is vital for selectively removing material layers from semiconductor wafers.

A very corrosive solution of hydrogen fluoride in water, electronic grade hydrofluoric acid, >49%, is made specifically for the electronics industry to clean silicon wafers and etch semiconductors since these sensitive processes call for extremely pure solvents. The advancements in semiconductor technologies, such as the development of smaller transistor structures, necessitate more sophisticated etching and cleaning processes, thus driving the demand for high-purity HF.

Application (Solar Cells/Photovoltaics, Microelectronics, Semiconductors)

The semiconductors segment in electronic grade hydrofluoric acid market is set to garner a notable share shortly. Strong, corrosive, and reactive, hydrofluoric acid intended for electronic use reacts easily with oxidants, bases, and acids which is used extensively in the semiconductor sector that is now more than ever integrated into all fields to regulate and control the flow of electricity in electrical devices and equipment.

Our in-depth analysis of the global electronic grade hydrofluoric acid market includes the following segments:

          Grade Type

  • UP
  •  UP-S
  •  UP-SS
  •  EL

          Concentration

  • 49%
  •  >49%

          Application

  • Solar Cells/Photovoltaics
  • Microelectronics
  • Semiconductors

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Electronic Grade Hydrofluoric Acid Industry - Regional Synopsis

APAC Market Forecast

Electronic grade hydrofluoric acid market in Asia Pacific is predicted to the largest share of 45% by 2036 impelled by the growing production of fluorspar, and sulfuric acid, which are used in the production of hydrofluoric acid (HF). With a plethora of Mesozoic igneous rocks and significant reserves of fluorspar, China is by far the world's leading producer of fluorspar from mines. For instance, China continues to be the world's largest producer of fluorspar, producing around 5 million tonnes, or over 55% of the entire volume. Particularly, in 2022, China accounted for the majority of global fluorspar mining production, with over 5 million metric tons produced. In addition, China generated more than 90 million metric tons of sulfuric acid in 2022.

North American Market Statistics

The North America electronic grade hydrofluoric acid market is estimated to be the second largest, during the forecast period led by the growing personal disposable income. Consumers who have more disposable income are more likely to buy electronics, which may create a huge demand for electronic-grade hydrofluoric acid. For instance, the United States' disposable personal income rose by more than 0.2% in 2024.

Research Nester
Electronic Grade Hydrofluoric Acid Market Region
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Companies Dominating the Electronic Grade Hydrofluoric Acid Market

top-features-companies
    • Solvay S.A
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Honeywell International Inc.,
    • Zhejiang Juhua Hanzheng New Materials Co., Ltd
    • Shanghai Changhua New Energy & Technology Co. Ltd.,
    • KMG Chemicals Inc.
    • Do-Fluoride Chemicals Co., Ltd.
    • Entegris, Inc.

In-the-news

In The News

  • Shanghai Huikai Chemical Technology Co., Ltd. received approval to develop an electronic-grade hydrofluoric acid construction project, the project will be able to generate over 55,000 tons of electronic-grade hydrofluoric acid annually as well as more than 30,000 tons of anhydrous hydrogen fluoride, which will all be utilized in the process of making electronic grade hydrofluoric acid.
  • Entegris, Inc. a leading supplier of advanced materials and process solutions announced a final deal for Fujifilm to purchase the Electronic Chemicals division of Entegris, which is a crucial next step in their ongoing emphasis on the assets they think will be most valuable strategically in the long run.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 5896
  • Published Date: Mar 19, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The growing spending on electronics across the globe and the growing focus on sustainability are the major factors driving the growth of the market.

The market size of electronic grade hydrofluoric acid is anticipated to attain a CAGR of 8% over the forecast period, i.e., 2024-2036.

The major players in the market are Honeywell International Inc., Zhejiang Juhua Hanzheng New Materials Co., Ltd, Shanghai Changhua New Energy & Technology Co. Ltd., KMG Chemicals Inc., Do-Fluoride Chemicals Co., Ltd., Entegris, Inc., Suzhou Crystal Clear Chemical Co., Ltd, Morita Chemical Industries Co. Ltd., Buss ChemTech AG, Zhejiang Sanmei Chemical Incorporated Company,, and others.

The >49% segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Electronic Grade Hydrofluoric Acid Market Report Scope
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