Ultra-pure Sulfuric Acid Market to Witness Robust Expansion Throughout the Forecast Period 2018 – 2025
Performance of the ultra-pure sulfuric acid market is directly proportional to demand for semiconductor in the electronics industry. Ultra-pure sulfuric acids are high purity chemicals that are mainly used mostly in the electronics industry for cleaning and etching applications of semiconductors and printed circuit boards. The large use of ultra-pure sulfuric acid to clean silicon wafers in order to meet high quality demand of semiconductor industry is the main driving force for the growth of ultra-pure sulfuric acid market and is expected to sustain growth of the market over the following years. Astronomical rise of the electronics sector in emerging economies of India and China, further creates a highly conducive environment for growth of the ultra-pure sulfuric acid market.
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Ultra-Pure Sulfuric Acid Outlook – Asia-Pacific is the largest and fastest growing region, globally
Asia-Pacific is expected to be the largest region in the global ultra-pure sulfuric acid market due to increasing technological advancements and growing semiconductor industry in the region. This region is expected to dominate the market through 2025. This is due to the growing consumption of electronic devices due to increasing population in the region. Furthermore, the region has emerged as a major manufacturing hub for electronic chemicals and materials due to economies of scale on offer in the region. North America and Europe are losing their market share due to the saturation of market. Increasing industrialization and urbanization in Middle East countries will promote the demand for ultra-pure sulfuric acid over the following years.
Rampant growth in demand for electronic devices creating favorable growth environment for the market
The growing electronic devices industry, and increase in adoption of various organic and inorganic growth strategies by the major and local players are the major drivers for the growth of the ultra-pure sulfuric acid market. However, the fluctuations in the currency exchange rates of Japan is considered as the major restraining factor, as the country is a dominant market for ultra-pure sulfuric acid.
There are various inorganic and organic growth strategies being adopted by major players in the market to ensure sustainable growth in this highly competitive market. For instance, BASF, based in Germany, has planned to build an Ultra-pure sulfuric acid plant at Zhapu in Zhejiang Province, China, in partnership with Jiahua Energy Chemical, which would be commissioned by 2018. The major players in ultra-pure sulfuric acid market include 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.
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Ultra-Pure Sulfuric Acid Market Taxonomy
On the basis of grade, Ultra-pure sulfuric acid market is classified into:Parts per billion (ppb), Parts per trillion (ppt)
On the basis of End User, Ultra-pure sulfuric acid market is classified into:Semiconductors, Pharmaceuticals
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