Global Electronic Grade Sulfuric Acid Market Highlights over 2020-2029
The global electronic grade sulfuric acid market is estimated to garner a significant CAGR over the forecast period, i.e., 2021–2029. The growth of the market can be attributed to the varied application of the electronic grade sulfuric acid, including the manufacturing of semiconductors, PCB panels, fertilizers, and others. Rising demand for smartphones, laptops, and other electronic devices that require PCB panels and semiconductors, is estimated to drive the market growth. More than 1.4 billion smartphones were sold in 2020, and is estimated to cross 1.5 billion smartphones by the end of 2021. Electronic grade sulfuric acid is very strong and pure in nature, with the concentration above 95%. The changing trends in the electronics market, coupled with rapid global digitalization, is anticipated to boost the market growth.
The global electronic grade sulfuric acid market is segmented by application into semiconductors, PCB panels, and others, out of which, the semiconductors segment is anticipated to hold the largest share in the market during the forecast period. Sulfuric acid is essential for the manufacturing of semiconductors. The growing demand for electronic gadgets is estimated to boost the growth of the segment. On the basis of end-user industries, the market is segmented into chemical, electronics, and others, out of which, the electronics segment is anticipated to hold a noteworthy share over the forecast period, owing to the utility of sulfuric acid in the manufacturing of printed circuit boards.
Major Macro-Economic Indicators Impacting the Market Growth
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 Programme), 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 favourable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labour 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. CLICK TO DOWNLOAD SAMPLE REPORT
Global Electronic Grade Sulfuric Acid Market Regional Synopsis
Regionally, the global electronic grade sulfuric acid market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness highest CAGR over the forecast period owing to the presence of major electronics manufacturers in the region, backed by large consumer base and cheap labor. Moreover, increasing production of sulfuric acid, supported by the easy availability of raw materials in the region, is anticipated to boost the market growth. The market in the North America is projected to hold a significant share in the market, during the forecast period, on the back of increasing demand for electronic devices backed by high disposable income, coupled with growing chemical industry in the region.
The global electronic grade sulfuric acid market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
- 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 & Opportunity Analysis
Market Segmentation
Our in-depth analysis of the global electronic grade sulfuric acid market includes the following segments:
By Grade
- PPB (Parts per Billion)
- PPT (Parts per Trillion)
By Application
- Semiconductors
- PCB Panels
- Others
By End-User Industries
- Chemical
- Electronics
- Others
Growth Drivers
- Rising Demand for Electronic Devices
- Growing Chemical Industry
Challenges
- Safety Hazards while Working with Electronic Grade Acid
Top Featured Companies Dominating the Market
- BASF SE
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- KMG Chemicals
- INEOS AG
- Kanto Chemical Co., Inc.
- Chemtrade Logistics Income Fund
- Trident Group
- Linde plc
- PVS, Inc.
- Reagent Chemical & Research, Inc.
- Moses Lake Industries
