According to the new market research report “Electronic Grade Sulfuric Acid Market by Grade (PPT, PPB), Application (Semiconductors, PCB Panels, Pharmaceutical) and Region (North America, Europe, APAC, Middle East & Africa, South America) – Global Forecast to 2024″, is projected to grow from USD 300 million in 2019 to USD 415 million by 2024, at a CAGR of 6.7% during the forecast period. The increasing electronic device manufacturing and demand in the developing economies of the APAC region, along with the shift in focus of major electronics manufacturers toward the region, is expected to boost the market during the forecast period.
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Based on grade, the market is segmented into PPT (Parts Per Trillion) and PPB (Parts Per Billion). The PPT segment is expected to be the faster-growing grade during the forecast period. The PPT grade of electronic grade sulfuric acid is majorly used for cleaning and etching purposes of semiconductors and ICs owing to its high purity level. The rapid growth in semiconductors and IC manufacturing globally is expected to drive the demand for PPT grade of electronic grade sulfuric acid.
Based on application, the market is segmented into semiconductors, PCB panels, and pharmaceuticals. The PCB panels segment is expected to be the fastest-growing application during the forecast period due to the rise in demand for advanced consumer electronics and smart devices.
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The global electronic grade sulfuric acid market size is estimated at USD 300 million in 2019 and is projected to reach USD 415 million by 2024, at a CAGR of 6.7% between 2019 and 2024. The growth of the market is fueled by the increasing technological advancements and demand for electronics devices globally.
The key players in the electronic grade sulfuric acid market are 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 report analyzes the key growth strategies adopted by these leading market players, between 2014 and 2019, which include expansion and merger & acquisition.
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BASF SE (Germany) is one of the major players of the electronic grade sulfuric acid market. The company operates as a major player in the chemical industry. It functions through six business segments, namely functional materials & solutions, chemicals, performance products, agricultural solutions, and other. The company provides sulfuric acid for electronic applications by the brand name, SELECTIPUR, which is a part of the company’s electronic material product line offered under the dispersions & pigments division of the performance products business segment.
INEOS Group Holdings S.A. (UK) is one of the leading players in the market. The company is one of the prominent chemical industry players globally, along with an expertise in manufacturing petrochemicals, specialty chemicals, and oil products. It operates through three business segments – O&P North America, O&P Europe, and Chemical Intermediates. The company offers electronic grade sulfuric acid through the INEOS Sulphur Chemicals product line, which forms a part of the INEOS Enterprises business division of the Chemical Intermediates business segment of the company. It comprises 34 businesses with a production network spanning across 183 manufacturing facilities in 26 countries.
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