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IN THE NEWSMarch 2021- Solvay started new production unit for high purity hydrogen peroxide for the European semiconductor market. The facility is located in Bernburg, Germany.
February 2020- Evonik successfully closed the acquisition of PeroxyChem for a deal worth USD 640 million to expand its portfolio for eco-friendly hydrogen peroxide and PAA products.
The global electronic grade hydrogen peroxide market is estimated to garner a hefty amount of revenue and grow at a CAGR of ~4% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increased complexity in semiconductor chips, which in turn is expected to raise the demand for premium quality electronic grade hydrogen peroxide for effective cleaning of fine geometries and tools. Along with this, increasing usage of the chemical in etching of printed circuit boards in conjunction with sulphuric acid is also projected to propel market growth in the forthcoming years. Furthermore, trend of artificial intelligence, IoT and proliferation of connected devices is evaluated to impel the demand for sensors and microcontrollers, offering lucrative opportunities to the market in the near future. The total number of connected IoT devices in the world are evaluated to grow by 9 percent by the end of 2021 to more than 12 billion active endpoints. There will be an estimated 25 billion connected devices by the year 2025.
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The market is segmented by application into printed circuit board etching, semiconductor wafer cleaning, and flat panel display manufacturing, out of which, the printed circuit board etching segment is anticipated to hold the largest share in the global electronic grade hydrogen peroxide market. This can be accounted to the high utilization of hydrogen peroxide in wet etching of circuit boards for good surface uniformity, excellent adaptability, and its ability to minimize the effects of damage caused to the electronic equipment. Additionally, on the basis of primary function, the etchant segment is assessed to acquire the largest share during the forecast period, which can be credited to the increasing use of the product for etching owing to its high effectiveness to chemically remove layers from the surface of a wafer during manufacturing.
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
On the basis of geographical analysis, the global electronic grade hydrogen peroxide market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to grab the largest share and witness noteworthy growth over the forecast period on the back of the strong presence of leading semiconductor and PCB manufacturers in Japan, China and South Korea. In August 2021, about 3.5 billion semiconductors were sold in Japan, up from 3 billion products in the same month in the previous year, i.e., 2020. In addition, high manufacturing output of chemicals industry is also projected to drive market growth in the region in the coming years. Moreover, the market in North America is also predicted to gather significant share during the forecast period ascribing to the upsurge in fab capacity, and increasing investments in the electronics industry in the region.
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The global electronic grade hydrogen peroxide market is further classified on the basis of region as follows:
Our in-depth analysis of the global electronic grade hydrogen peroxide market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The major factors driving market growth are increased complexity in semiconductor chips, and rising usage of the chemical in etching of printed circuit boards.
The market is anticipated to attain a CAGR of ~4% over the forecast period, i.e., 2022 – 2030.
Toxic nature of hydrogen peroxide is estimated to hamper the market growth.
Asia Pacific will provide more business opportunities for market growth owing to the strong presence of leading semiconductor and PCB manufacturers in Japan, China and South Korea.
The major players in the market are Solvay SA, Arkema, Inc., Evonik Industries AG, PeroxyChem LLC, Changchun Group, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by primary function, concentration, application, and by region.
The etchant segment is anticipated to hold largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.
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