Product Code: 68386
The market for ultra-pure sulfuric acid is expected to grow at a CAGR of about 3% globally during the forecast period. Major factors driving the market studied
increasing demand from semiconductor industry and growing application in pharmaceutical industry. On the flip side, stringent environmental regulations is expected to hinder the growth of market.
- Ultra-Pure Sulfuric Acid market is expected to grow during the forecast period owing to increasing application in Electrical & Electronics Industry across the globe.
- Asia-Pacific region dominated the market across the globe with the largest consumption from the countries such as India, China and Japan
Key Market Trends
Increasing Application in Electrical & Electronics Industry
- Sulfuric acid, also called oil of vitriol, or hydrogen sulfate is dense, colorless, oily, corrosive liquid, one of the most important of all chemicals, prepared industrially by the reaction of water with sulfur trioxide. Ultra-pure sulfuric acid refers to the high concentration ranging about 98%.
- In electrical & electronics industry ultra-pure sulfuric acid is used in various concentrations during the manufacturing of printed circuit boards, as an etching agent for the production of semi-conductors, cleaning agent and others.
- According to the Semiconductor Industry Association (SIA), the worldwide sales of semiconductors reached a total of USD 36.6 billion for the month of October 2019, an increase of about 2.9% from the September month's total sales of USD 35.6 billion.
- According to World Semiconductor Trade Statistics (WSTS), it is estimated that the annual global sales of semiconductors is expected to increase by 5.4% in 2020, 6.3% in 2021, hence increasing the scope for this market during the coming years.
- Hence, owing to the growing applications in electrical & electronics industry especially in Asia-Pacific and North American countries, the demand for ultra-pure sulfuric acid is expected to increase over the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market for ultra-pure sulfuric acid during the forecast period. Due to the high demand application from countries like China, India and Japan the market for ultra-pure sulfuric acid has been increasing.
- The largest producers of ultra-pure sulfuric acid are located in Asia-Pacific region. Some of the leading companies in the production of ultra-pure sulfuric acid are INEOS Group, BASF SE, KMG Chemicals, KANTO KAGAKU, PVS Chemicals.
- Chinese pharmaceutical industry which is valued at about ~USD 145 billion currently, represents the biggest emerging market with growth tipped to reach about ~USD 200 billion by 2022, thus increasing the scope of the market.
- India's total pharmaceutical production reported a 11% growth during the first quarter of FY'19 and reached a total of about ~USD 5 billion. During the same time, the pharma exports witnessed a 21.7% growth and reached a total of about ~USD 1.72 billion.
- Ultra-pure sulfuric acid is also used in pharmaceutical industry, automotive industry and many other industries where it has wide range of applications
- The Chinese government has introduced "Made in China 2025" policy to increase the nation's self-sufficiency in integrated circuits production to 40% in 2020 and 70% by 2025.
- Ultra-pure sulfuric acid is one of the most popular types of wet chemicals used in the electronics industry. The aforementioned factors, coupled with government support, are contributing to the increasing demand for ultra-pure sulfuric acid during the forecast period.
The global ultra-pure sulfuric acid market is fragmented with players accounting for a marginal share of the market. Few companies include INEOS Group, BASF SE, KMG Chemicals, KANTO KAGAKU, PVS Chemicals
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TABLE OF CONTENTS
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Drivers
- 4.1.1 Increasing Demand from Semiconductor Industry
- 4.1.2 Growing Application in Pharmaceutical Industry
- 4.2 Restraints
- 4.2.1 Stringent Environmental Regulations
- 4.2.2 Other Restraints
- 4.3 Industry Value Chain Analysis
- 4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Degree of Competition
- 4.5 Technological Snapshot
5 MARKET SEGMENTATION
- 5.1 Acid Grade
- 5.1.1 Parts Per Trillion (PPT)
- 5.1.2 Parts Per Billion (PPB)
- 5.2 Application
- 5.2.1 Cleaning
- 5.2.2 Etching
- 5.2.3 Reagent
- 5.2.4 Others
- 5.3 End-user Industry
- 5.3.1 Electrical & Electronics
- 5.3.2 Pharmaceuticals
- 5.3.3 Automotive
- 5.3.4 Others
- 5.4 Geography
- 5.4.1 Asia-Pacific
- 220.127.116.11 China
- 18.104.22.168 India
- 22.214.171.124 Japan
- 126.96.36.199 South Korea
- 188.8.131.52 Rest of Asia-Pacific
- 5.4.2 North America
- 184.108.40.206 United States
- 220.127.116.11 Canada
- 18.104.22.168 Mexico
- 5.4.3 Europe
- 22.214.171.124 Germany
- 126.96.36.199 United Kingdom
- 188.8.131.52 France
- 184.108.40.206 Italy
- 220.127.116.11 Rest of Europe
- 5.4.4 South America
- 18.104.22.168 Brazil
- 22.214.171.124 Argentina
- 126.96.36.199 Rest of South America
- 5.4.5 Middle-East and Africa
- 188.8.131.52 Saudi Arabia
- 184.108.40.206 South Africa
- 220.127.116.11 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share/Ranking Analysis**
- 6.3 Strategies Adopted by Leading Players
- 6.4 Company Profiles
- 6.4.1 Aurubis AG
- 6.4.2 BASF SE
- 6.4.3 Boliden Group
- 6.4.4 Chemtrade
- 6.4.5 INEOS Group
- 6.4.6 KANTO KAGAKU
- 6.4.7 KMG Chemicals
- 6.4.8 Nouryon
- 6.4.9 PVS Chemicals
- 6.4.10 Trident Group
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Development of Recyling Technology to Reuse Sulfuric Acid