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“The growth in electronic grade sulfuric acid demand is majorly driven by its huge consumption in the semiconductor industry.”
The electronic grade sulfuric acid market size is estimated to be USD 300 million in 2019 and is projected to reach USD 415 million by 2024, at a CAGR of 6.7%. The major growth witnessed in the electronic device market in the developing economies of the APAC region is a key factor driving the electronic grade sulfuric acid market. APAC is the fastest-growing market for electronics. With the boost in the economy, the APAC market has picked up the fastest pace toward growth with respect to electronic chemicals and materials, thus supporting the electronic grade sulfuric acid demand. However, the high manufacturing cost acts as a restraint for the market.
“PPT is the faster-growing grade of electronic grade sulfuric acid.”
PPT is the faster-growing segment of the electronic grade sulfuric acid market. It is the most preferred grade of electronic grade sulfuric acid, among all the specialty wet chemicals in the electronics industry owing to its high purity.
“The semiconductors segment is the largest application of electronic grade sulfuric acid.”
The semiconductors segment is the largest application of electronic grade sulfuric acid. Electronic grade sulfuric acid is a high purity chemical used in the electronics industry for cleaning and etching applications of semiconductors and PCBs. It is majorly used to clean silicon wafers during semiconductor manufacturing..
“APAC is the largest and the fastest-growing market for electronic grade sulfuric acid.”
APAC is projected to register the fastest growth during the forecast period. China is expected to be one of the major markets for electronic grade sulfuric acid. The growing demand for from electronic and PCB panels manufacturing applications is expected to drive the market in China during the forecast period.
Extensive primary interviews were conducted in the process of determining and verifying sizes of different grades and applications of electronic grade sulfuric acid gathered through secondary research.
The breakdown of primary interviews is given below:
- By Company Type: Tier 1 – 20%, Tier 2 – 70%, and Tier 3 – 10%
- By Designation: C-Level Executives – 10%, Director-Level – 20%, and Others – 70%
- By Region: North America – 10%, Europe – 20%, APAC – 40%, South America – 20%, and Middle East & Africa – 10%
The key companies profiled in this report for the electronic grade sulfuric acid market include BASF SE (Germany), INEOS Group Holdings S.A. (UK), Chemtrade Logistics (Canada), KMG Chemicals (US), Kanto Chemical Co., Inc. (Japan), Trident Group (India), The Linde Group (Ireland), PVS Chemicals (US), Reagent Chemicals (UK), and Moses Lake Industries (US).
The electronic grade sulfuric acid market has been segmented based on grade, application, and region. This report covers the electronic grade sulfuric acid market and forecasts its size until 2024. It also provides detailed information on company profiles and competitive strategies adopted by the key players to strengthen their position in the market. The report also provides insights into the drivers and restraints, along with opportunities and challenges, in the market. The report also includes profiles of top manufacturers in the market.
Reasons To Buy the Report
The report is expected to help market leaders/new entrants in the following ways:
- This report segments the electronic grade sulfuric acid market and provides the closest approximations of revenue numbers for the overall market and its segments across different verticals and regions.
- This report is expected to help stakeholders understand the pulse of the market and provide information on key market drivers, restraints, challenges, and opportunities influencing the market growth.
- This report is expected to help stakeholders obtain an in-depth understanding of the competitive landscape of the electronic grade sulfuric acid market and gain insights to improve the position of their businesses. The competitive landscape section includes detailed information on strategies, such as expansion and merger & acquisition.