by The Global Ultra Pure Sulfuric Acid Market is estimated to be valued at US$ 16.65 Bn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Ultra pure sulfuric acid is highly concentrated sulfuric acid used for manufacturing of various electronic and chemical products. It provides purity levels of 99.9999% and above which makes it suitable for applications where extreme purity is required.
Market key trends:
One of the key trends in the ultra pure sulfuric acid market is growing demand from the electronics industry. Ultra pure sulfuric acid is used as an electrolyte in the manufacturing of various electronic components such as semiconductor chips, flat panel displays, and photovoltaic cells. The increasing adoption of electronic devices globally is fueling the consumption of ultra pure sulfuric acid. Furthermore, rising investment in renewable energy technologies such as solar panels will also contribute to the growth of the ultra pure sulfuric acid market over the forecast period.
SWOT Analysis
Strength: Ultra pure sulfuric acid offers high purity levels required for various industrial applications. It has strong oxidizing properties.
Weakness: Production of ultra pure sulfuric acid requires highly sophisticated manufacturing facilities and strict quality control measures which increases production costs. Transportation and storage also require specialized equipment and handling.
Opportunity: Growing demand from semiconductor industry for high purity levels. Increasing research activities in life sciences offers potential opportunities.
Threats: Stringent environmental regulations regarding manufacturing and disposal. Substitute products posing competitive threats.
Key Takeaways
The Global Ultra Pure Sulfuric Acid Market Size is expected to witness high growth, exhibiting CAGR of 11.% over the forecast period, due to increasing demand from semiconductor industry. The manufacture of integrated circuits and chips require ultra pure sulfuric acid to achieve the highest levels of purity.
Regional analysis
The Asia Pacific region dominates the global ultra pure sulfuric acid market, with major demand coming from countries like China, Japan, South Korea and Taiwan. This is attributed to presence of large number of semiconductor manufacturing facilities in the region. North America and Europe are other major consumers for ultra pure sulfuric acid primarily driven by pharmaceutical and chemical industries.
Key players
Key players operating in the ultra pure sulfuric acid market are Tampa Electric, Chemtrade Refinery, The Mosaic, Lucite International, Climax Molybdenum, Valero Energy, Solvay, DuPont, Akzonobel N.V, BASF,US Petrochemical, Shell, Avantor Performance Materials, Indian Oil Corporation Ltd., Ineos Enterprises, PVS Chemicals Inc., Moses Lake Industries, Sigma-Aldrich Co. LLC, KMG Chemicals Inc., Kanto Chemical Co. Inc. Linde Group, Reagent Chemicals, and Ineos Enterprises.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
