The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Electronic Grade Sulfuric Acid Market.
It was estimated prior to this unanticipated outbreak that the Electronic Grade Sulfuric Acid Market was expected to grow at a CAGR of 6.5% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
Electronic grade sulfuric acid is also known as ultra-pure sulfuric acid. It is used in purest form and possesses various characteristics which help to remove impure particles, carbon deposits, and inorganic residue on water while cleaning and itching.
Electronic grade sulfuric acid are of different grades, such as PPT and PPB, which are used in various applications, such as semiconductors, PCB panels and pharmaceuticals.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Based on the grade type, the market is segmented as PPT and PPB. The PPT grade segment held the larger share of the market in 2019, and is expected to remain dominant during the forecast period. The removal of ionic contaminants from silicon wafers is important during the manufacturing of semiconductors and ICs. PPT is the purest grade of electronic grade sulfuric acid and is majorly been used in cleaning and etching of silicon wafers in the semiconductor industry, which is driving the market in the foreseen duration.
Based on the application type, the electronic grade sulfuric acid market is segmented as semiconductors, PCB panels, and pharmaceuticals. The semiconductors segment dominates the market, as this electronic grade sulfuric acid is used in cleaning and etching of semiconductors and PCBs. It is the most common and widely used specialty wet chemical which is used in specific and customized electronic applications in the semiconductor industry, which is propelling the growth of the segment during the forecast period.
In terms of regions, Asia-Pacific is estimated to be the largest electronic grade sulfuric acid market during the forecast period, with China, Japan, India, South Korea, and Taiwan being the major countries with lucrative growth opportunities. The growth of the market in China is driven by the increase in the production of electronic products where PCB panels are majorly consumed, such as smartphones, LED and LCD televisions. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Some of the major electronic grade sulfuric acid manufacturers are-