As per Future Market Insights, the Electronic Grade Hydrofluoric Acid market is anticipated to attain a value pool of US$ 1.7 Billion by 2023-end. Global demand for Electronic Grade Hydrofluoric Acid is expected to rise at a CAGR of 7.5% to US$ 3.5 Billion in 2033.
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| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 1.7 Billion |
| Projected Market Value in 2033 | US$ 3.5 Billion |
| Growth Rate (2023 to 2033) | 7.5% CAGR |
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According to a recent study, The Electronic Grade Hydrofluoric Acid market is forecast to grow with a VAGR of 5% to 7% during the forecast period 2021-2031.
The increasing demand for hydro fluoro olefins (HFOs) and the increasing demand for fluorine compounds from several industries like steel aluminum, petroleum and pharmaceutical are the main factors driving the global market for hydrofluoric acids over the forecast period.
Hydrofluoric acid is a solution of hydrogen fluoride in water. It acts as an isotropic etching agent and is used for glass etching and ceramic etching in the manufacture of electronic components.
Electronic-grade hydrofluoric acid is a strong, reactive, and corrosive agent that readily reacts with acids, bases, and oxidants. It is widely used for the cleaning of silicon wafers in semiconductors, microelectronics, and photovoltaic cells.
A major trend identified in the global electronic-grade hydrofluoric acid market is the extensive use of the acid in the microelectronics sector on account of the rising demand and adoption of internet of things (IoT)- and artificial intelligence (AI)-enabled devices.
Companies across the globe are adopting IoT and AI solutions to increase productivity, make devices more efficient, and save operational costs. In addition, the rising demand for semiconductors from automotive companies for the manufacturing of self-driving cars is generating new revenue streams for the companies operating in the electronic-grade hydrofluoric acid industry.
Since hydrofluoric acid finds wide application in the semiconductor industry, the rising demand for products such as computers, smartphones, televisions, and telecommunication equipment is expected to boost the electronic-grade hydrofluoric acid market growth in the coming years.
Principal Consultant
Growth in the electronic-grade hydrofluoric acid market can be mainly associated with the expanding electronics industry and the rising demand for high-purity hydrofluoric acid. This is mainly facilitated by the growth in the usage of semiconductors and microelectronics in IoT and AI devices and photovoltaic cells.
Substantial use of semiconductors in smartphones, flat-screen monitors, LED TVs, autonomous cars, and civil aerospace and military systems would further drive the demand for electronic-grade hydrofluoric acid in the coming years. Thus, growth in the electronic industry is positively affecting the demand for electronic-grade hydrofluoric acid globally.
Asia-Pacific dominates the electronic grade hydrofluoric acid market with a share of more than 45% during the forecast period.
China is projected to be the fastest-growing market for hydrofluoric acid in Asia Pacific, followed by India and Japan due to numerous numbers of manufacturers. Due to massive demand from chemical and metallurgical industries and actively growing manufacturing base in APAC, it will propel the hydrofluoric acid market during the forecast period.
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In us is it observed that the market for electronic grade hydrofluoric acid will reach more in next 10 years, Moreover, large manufacturers from North America and Europe are shifting their manufacturing base to the APAC region, owing to the easy availability of raw material, which, in turn, is driving the market for electronic-grade hydrofluoric acid in the region.
Some of the leading manufacturers and suppliers of Electronic Grade Hydrofluoric Acid include
The COVID-19 outbreak has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global electronics industry also faced major disruptions such as supply chain issues, cancellation of technology events, and office shutdowns as a result of this outbreak.
However the upside has been the increased demand for electronic devices in view of the remote working requirements, which became the norm during the pandemic and would be a key part of modern life going forward.
The Electronic Grade Hydrofluoric Acid report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Applications 7. Global Market Analysis and Forecast, By Applications 7.1. Integrated Circuit 7.2. Solar Energy 7.3. Display Panels 7.4. Others 8. Global Market Analysis and Forecast, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. East Asia 8.5. South Asia 8.6. Middle East & Africa 9. North America Sales Analysis and Forecast, by Key Segments and Countries 10. Latin America Sales Analysis and Forecast, by Key Segments and Countries 11. Europe Sales Analysis and Forecast, by Key Segments and Countries 12. East Asia Sales Analysis and Forecast, by Key Segments and Countries 13. South Asia Sales Analysis and Forecast, by Key Segments and Countries 14. Middle East & Africa Sales Analysis and Forecast, by Key Segments and Countries 15. Sales Forecast by Applications for 30 Countries 16. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 17. Company Profile 17.1. Stella Chemifa Corp 17.2. FDAC 17.3. Honeywell 17.4. Solvay (Zhejiang Lansol) 17.5. Morita 17.6. Sunlit Chemical 17.7. Zhejiang Kaiheng Electronic Materials 17.8. Do-Fluoride Chemicals 17.9. Suzhou Crystal Clear Chemical 17.10. Jiangyin Jianghua Microelectronics Materials 17.11. Shaowu Fluoride 17.12. Shaowu Huaxin 17.13. Yingpeng Group 17.14. Sanmei etc.
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Electronic Grade Hydrofluoric Acid Market
