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CHEMICALS AND ADVANCED MATERIALS

Electronic Grade Hydrogen Peroxide Market Segmentation by Primary Function (Etchant, and Oxidizing & Cleaning Agent); by Concentration (30% -32%, and Above 32%); and by Application (Printed Circuit Board Etching, Semiconductor Wafer Cleaning, and Flat Panel Display Manufacturing) – Global Demand Analysis & Opportunity Outlook 2030

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IN THE NEWS

  • March 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.  

Global Electronic Grade Hydrogen Peroxide Market Highlights 2022 – 2030

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.

Electronic Grade Hydrogen Peroxide Market

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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. 

Major Macro-Economic Indicators Impacting the Market Growth

Chemicals Infographic

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.

Global Electronic Grade Hydrogen Peroxide Market Regional Synopsis

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.

Electronic Grade Hydrogen Peroxide Market

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The global electronic grade hydrogen peroxide market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global electronic grade hydrogen peroxide market includes the following segments:

By Primary Function

  • Etchant
  • Oxidizing & Cleaning Agent

By Concentration

  • 30% - 32%
  • Above 32%

By Application

  • Printed Circuit Board Etching
  • Semiconductor Wafer Cleaning
  • Flat Panel Display Manufacturing

Growth Drivers

  • Increased Complexity in Semiconductor Chips
  • Rising Usage of the Chemical in Etching of Printed Circuit Boards

Challenges

  • Toxicity of Hydrogen Peroxide

Top Featured Companies Dominating the Market

  • Solvay SA
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Arkema, Inc.
  • Evonik Industries AG
  • PeroxyChem LLC
  • Changchun Group
  • Grasim Industries Limited
  • Mitsubishi Gas Chemical Company
  • Akzo Nobel N.V.
  • Kemira Oyj
  • OCI Company Ltd.

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