Electronic Grade Hydrofluoric Acid Market
Electronic Grade Hydrofluoric Acid Market (HF Concentration - <49%, =>49%; Purity - EL,UP, UPS, UPSS; Application - Solar Cells/Photovoltaic, Microelectronics, Semiconductors) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026
- Category : Chemicals & Materials
- Format :
Press Release :
Global Electronic Grade Hydrofluoric Acid Market: Snapshot
Electronic grade hydrofluoric acid is a strong, reactive, and corrosive agent that readily reacts with acids, bases, and oxidants. The corrosive property of hydrofluoric acid is used for glass etching and ceramic etching in electronic devices. Electronic grade hydrofluoric acid is primarily used to clean silicon wafers in semiconductors, microelectronics, and photovoltaic cells. The electronics industry is expanding at a rapid pace owing to the rise in demand for products such as computers, smartphones, televisions, and telecommunication equipment. Increase in production of these electronic devices is anticipated to boost the electronic grade hydrofluoric acid market.
According to the report by TMR, the global market for electronic grade hydrofluoric acid was valued at around US$ 290.0 Mn in 2017 and is anticipated to expand at a CAGR of around 7.0% from 2018 to 2026.
Rise in Demand for Semiconductors and Microelectronics to be Beneficial for Growth
On the basis of HF concentration, the electronic grade hydrofluoric acid market is segmented into less than 49% and greater than 49%. Of these, greater than 49% is dominating the global market for electronic grade hydrofluoric acid. This growth is attributable to the rise in concerns about the purity of electronic grade hydrofluoric acid is expected to adversely impact the electronic grade hydrofluoric acid market. =>49% concentration based electronic grade hydrofluoric acid is used in high-end applications such as IOT devices and artificial intelligence. Rise in demand for semiconductors and microelectronics applications in IOT devices and artificial intelligence is projected to boost the demand for =>49% concentration based electronic grade hydrofluoric acid.
Ease in Availability of Raw Materials in the East Asia to Bolster its Growth
On the basis of region, the global electronic grade hydrofluoric acid market is segmented into North America, Europe, Asia Pacific, Latin America, and Rest of the World. Of these, Asia Pacific is the key region accounting for significant share of the electronic grade hydrofluoric acid market. Transition of companies operating in semiconductors and microelectronics industries from North America and Europe to East Asia is expected to boost the demand for electronic grade hydrofluoric acid in Asia Pacific. Major electronic component manufacturers shifted their production bases to East Asia owing to the ease in availability of raw materials and competitive labor pricing in the region. Demand for electronic grade hydrofluoric acid increased significantly in Asia Pacific in 2017 due to the strong presence of large OEMs and electronic component manufacturers in the region. Rapid industrialization in developing nations such as China, Japan, Taiwan, and South Korea is expected to drive the global electronic grade hydrofluoric acid market.
Key players operating in the electronic grade hydrofluoric acid market include Zhejiang Juhua Co., Ltd., Stella Chemifa Corporation, Formosa Daikin Advanced Chemicals Co., Ltd., and Morita Chemical Industries Co.,Ltd. These players are focusing on integrating their suppliers in order to cut down transportation costs and enhance the production output. Other eminent players include ADVANCE RESEARCH CHEMICALS. INC, Buss ChemTech AG, Derivados del Flúor, Do-Fluoride Chemicals Co., Ltd., Fujian Shaowu Yongjing Chemical Co., Ltd.,
Heightening Sales of Electronics to Boost Growth Rate of Electronic Grade Hydrofluoric Acid Market
The electronic grade hydrofluoric acid market is expected to witness substantial growth opportunities across the assessment period of 2018-2026 on the back of the rising demand for electronics such as television, computers, telecommunication equipment, and others. This acid is prominently used for cleaning silicon wafers in microelectronics, semiconductors, and photovoltaic cells. The growing demand for microelectronics and semiconductor applications in the Internet-of-Things (IoT) devices may bring tremendous growth opportunities for the electronic grade hydrofluoric acid market.
- The easy availability of raw materials in a plethora of regions will help in enhancing the growth rate of the electronic grade hydrofluoric acid market. Furthermore, the rapid industrialization in developing regions will add extra stars of growth to the electronic grade hydrofluoric acid market. Swift urbanization has resulted in increased disposable income and purchasing power parity of a large number of individuals across the globe. This aspect is increasing the sales of electronic appliances. The increase in the sale of electronic appliances is directly proportional to the growth of the electronic grade hydrofluoric acid market.
- The ongoing research and development activities across the electronic grade hydrofluoric acid market will enable the players to derive novel formulations that are more efficient for the end-users. Strategic collaborations like mergers and acquisitions help the players in the electronic grade hydrofluoric acid market to gain considerable growth, eventually increasing the growth rate of the electronic grade hydrofluoric acid market.
- The SARS-CoV-2 outbreak has caused immense losses across the globe and has ruined the livelihoods of a considerable populace. The pandemic-induced lockdown across numerous countries led to the closure of a plethora of businesses and production units. The electronic grade hydrofluoric acid market is no stranger to this loss. The shutting down of the electronic manufacturing facilities for a brief period resulted in a decline of the growth of the electronic grade hydrofluoric acid market.
Electronic Grade Hydrofluoric Acid Market - Overview
This report focuses on the study of electronic grade hydrofluoric acid at the global and regional level. It analyzes and forecasts the market for electronic grade hydrofluoric acid based on revenue (US$ Mn) and volume (tons) from 2018 to 2026. The market has been forecast based on historical trends, demand-supply scenario, drivers, restraints, and opportunities.
The report encompasses a detailed value chain analysis, which provides an inclusive view of the global electronic grade hydrofluoric acid market. Porter’s Five Forces model for the electronic grade hydrofluoric acid market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein applications are benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the global electronic grade hydrofluoric acid market by segmenting it in terms of HF concentration, purity, and application. The segments have been analyzed based on present and future trends. Regional segmentation includes the current and projected demand for electronic grade hydrofluoric acid in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers the demand for individual HF concentration, purity, and application segments in all the regions. Key players operating in the electronic grade hydrofluoric acid market include ADVANCE RESEARCH CHEMICALS. INC, Buss ChemTech AG, Derivados del Flúor, Do-Fluoride Chemicals Co., Ltd., FORMOSA DAIKIN ADVANCED CHEMICALS CO., LTD., Fujian Shaowu Yongjing Chemical Co., Ltd., Honeywell International Inc., KMG Electronic Chemicals, Loba Chemie Pvt. Ltd., Morita Chemical Industries Co.,Ltd., Qiaoli Chemical Industry Co., Ltd. (Sunlit Fluo & Chemical Co.,LTD), Qshi Industry (Shanghai) Co., Ltd., Shanghai Changhua New Energy & Technology Co., Ltd., Solvay S.A., Stella Chemifa Corporation, Xinxiang Yellow River Fine Chemical Industry Co., Ltd., Zhejiang Kaiheng Electronic Materials Co., Ltd., Zhejiang Kaisn Fluorochemical Co., Ltd., and Zhejiang Sanmei Chemical Incorporated Company. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments.
The report offers the estimated market size of electronic grade hydrofluoric acid for 2017 and forecast for the next nine years. The size of the global electronic grade hydrofluoric acid market has been provided in terms of revenue and volume. Market numbers have been estimated based on HF concentration, purity, and application of electronic grade hydrofluoric acid. Market size and forecast for each major HF concentration, purity, and application have been provided in terms of the global and regional market.
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players operating in various end-use industries, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet source, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Key Takeaways
- A pervasive analysis of the electronic grade hydrofluoric acid market trends and shares from 2017 to 2026 to identify market opportunities and analyze industry developments
- A list of key developments in the electronic grade hydrofluoric acid market made by major players
- A list of vital factors responsible for building the upcoming opportunistic roadmap for the electronic grade hydrofluoric acid market at global, regional, and country level
- Comprehensive analysis with respect to investments and price trends that impact the outlook of the global electronic grade hydrofluoric acid market between 2017 and 2026
- Insights into market opportunities for various stakeholders in the value chain and detailed competition landscape for key players dominating the industry to understand competition level
- Porters’ Five Forces analysis highlights the potency of buyers and suppliers and enables stakeholders to make profit-oriented business decisions
- Electronic grade hydrofluoric acid manufacturing process adopted by key players in the market
- Future potential applications stating the lucrativeness of the market for the next few years. These applications are expected to provide the ability to identify and capitalize on the fast moving sectors in the market.
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