Electronic Grade Hydrofluoric Acid Market Outlook
According to a new report by Expert Market Research titled, “Electronic Grade Hydrofluoric Acid Market Price, Share, Analysis, Report and Forecast 2023-2028″,is projected to grow at a CAGR of 5.90% between 2023 and 2028. Aided by the growing demand in the semiconductor industry and the increasing applications of hydrofluoric acid in various industries, the market is expected to grow significantly by 2028.
Electronic grade hydrofluoric acid is a high-purity compound often used in the semiconductor industry, specifically in the etching and cleaning of silicon wafers. This substance’s role as an etching agent is instrumental in the creation of patterns on silicon wafers, an essential part of semiconductor fabrication. Moreover, hydrofluoric acid’s robust cleaning properties assist in eliminating residues on the surface of silicon wafers, thus ensuring their purity and operational efficiency.
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A central driver of the global electronic grade hydrofluoric acid market growth is the ascending demand within the semiconductor industry. As technological advancements facilitate the miniaturisation and performance enhancement of electronic devices, there is a significant increase in semiconductor demand, consequently fuelling the need for electronic grade hydrofluoric acid.
Additionally, the growing trend towards digitisation and the rise of the Internet of Things (IoT) have resulted in a surge in semiconductor consumption, thereby promoting market growth. As a vital component in semiconductor production, electronic grade hydrofluoric acid benefits significantly from this trend.
The electronic grade hydrofluoric acid market expansion is also amplified by its widespread applications across various industries. In the pharmaceutical realm, it is deployed in the production of specific fluorine-containing drugs. Furthermore, it is employed in the manufacture of refrigerants and as a catalyst in the petroleum industry.
The electronic grade hydrofluoric acid market development is also being driven from the growing demand for electric vehicles (EVs) and renewable energy solutions, both of which heavily rely on advanced battery technologies and semiconductors. The global focus on reducing carbon emissions and transitioning towards clean energy sources is expected to maintain this trend, thereby stimulating further demand for electronic grade hydrofluoric acid.
In the context of regional markets, Asia Pacific is expected to be one of the leading regions in the global electronic grade hydrofluoric acid market. This growth can be attributed to its robust semiconductor industry, thriving consumer electronics sector, and the presence of leading electronic grade hydrofluoric acid manufacturers.
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Electronic Grade Hydrofluoric Acid Market Segmentation
The market can be divided based on product, application, and region.
Market Breakup by Product
- UP Grade
- UP-S Grade
- UP-SS Grade
- EL Grade
- Others
Market Breakup by Application
- Solar Cells/Photovoltaic
- Microelectronics
- Semiconductors
- Glass Product
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global electronic grade hydrofluoric acid companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Stella Chemifa Corporation
- Formosa Daikin Advanced Chemicals Co., Ltd.
- Solvay S.A.
- Morita Chemical Industries Co., Ltd.
- Zhejiang Kaisn Fluorochemical Co., Ltd.
- Others
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