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The ultra-pure sulfuric acid market size is forecast to increase by USD 57.9 million, at a CAGR of 3.2% between 2023 and 2028. Market growth hinges on various factors, such as capacity expansion and the establishment of new plants, driven by the increasing demand for sulfuric acid in the electronics sector. Additionally, advancements in materials play a crucial role in shaping market dynamics. The expansion of production capacity and the introduction of new facilities are essential for meeting the rising demand for sulfuric acid, particularly in electronics manufacturing processes. Furthermore, ongoing innovations in materials technology contribute to enhancing the efficiency and performance of sulfuric acid production and utilization. These factors collectively drive market growth and underscore the importance of adapting to evolving industry trends and technological developments to maintain a competitive edge in the market. It also includes an in-depth analysis of market trends and analysis, market growth analysis and challenges. Furthermore, the report includes historic market data from 2018 - 2022.
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The ultra-pure sulfuric acid market plays a crucial role in various industries, particularly in the microelectronics and semiconductor sectors. Also known as oil of vitriol or hydrogen sulfate, sulfuric acid is essential in the production of printed circuit boards and as a cleaning agent. Companies like KANTO KAGAKU and KMG Chemicals are prominent suppliers in this market, ensuring stringent adherence to environmental regulations due to its critical role and potential hazards. Foreign direct investment in mining and fertilizer sectors supports the supply chain of raw materials for sulfuric acid production. Associations such as SIA and WSTS monitor market trends, influencing the electronics segment's growth. Taiwan Semiconductor is a significant player benefiting from the high purity standards of sulfuric acid in semiconductor manufacturing. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Expansion of production capacity and construction of new plants are key factors driving the growth of the global UPSA market. The global market has expanded its production capacity over the last 5-10 years. Additionally, increasing demand for sulfuric acid from the electronics and electrical industries is expected to boost production capacity in China, South America, and the Middle East over the next decade. The increasing demand for high-purity sulfuric acid from various end-user industries such as pharmaceuticals and automotive is forcing manufacturers of high-purity sulfuric acid to expand their production capacities.
Therefore, sulfuric acid supply and consumption are expected to increase during the forecast period. In addition, converter upgrades and new steam equipment at the sulfuric acid plant will allow PVS to double the plant's saturated steam capacity. Therefore, the development of new production facilities and capacity expansion of existing production facilities will drive the growth of the market during the forecast period.
Increasing demand from diverse applications is a key trend in the growth of the global UPSA market. It has applications in a variety of industries, including electronics, electrical, pharmaceutical, manufacturing, automotive, textile processing, and paint and pigment applications. Therefore, the application of ultra-pure sulfuric acid in the industry is expected to boost the demand during the forecast period.
In addition, it is used in the production of explosives, plastics, viscose, and detergents for special applications in the chemical industry. Sulfuric acid acts as both an oxidizing agent and a dehydrating agent. In addition, petroleum and chemical refineries help produce sulfuric acid as a by-product, resulting in the regeneration of pure concentrated sulfuric acid products for various end uses. Regenerated acids have lower emissions, which reduces production costs and makes them sustainable and environmentally friendly. Such diverse uses of sulfuric acid are expected to drive market growth over the forecast period.
Strict regulations on sulfuric acid pose a major challenge to the growth of the global UPSA market. This acid is used in a variety of applications, but several environmental regulations restrict its use. In addition, the production plants must meet stringent environmental regulations regarding emissions of SO2 and sulfuric acid mist as gaseous pollutants into the atmosphere.
Further, sulfuric acid mist remains in the atmosphere as particles and droplets and is absorbed by clouds, fog, rain, and snow to form acid rain, which is harmful to humans, plants, and aquatic life. Sulfuric acid is strongly acidic and highly corrosive, so strict compliance with environmental regulations is required in its production. In addition, regulatory bodies around the world impose various laws on the chemical industry. Such regulations by regulators are impacting the growth of the chemical industry around the world.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Jiangyin Jianghua Microelectronic Materials Co. Ltd.- The company offers ultra-pure sulfuric acid such as nutraceutical, food and beverage, and tantalum refining industries.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the parts per trillion segment will be significant during the forecast period. Ultra-pure sulfuric acid with extremely low contaminant levels measured in parts per trillion. The production of electronic devices is a complex process that requires the use of ultra-pure chemicals during the manufacturing steps. High-purity-grade sulfuric acid (H2SO4) is generally used for cleaning components and etching all metal and organic impurities on silicon wafers. Such factors will increase segment growth during the forecast period.
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The parts per trillion segment was valued at USD 177.00 million in 2018. PPT ultra-pure sulfuric acid is specially produced and handled for use in the manufacture of electronic semiconductors and for reagent-grade applications. The rise in the demand for electronic devices, coupled with rapid urbanization, is expected to boost the demand during the forecast period.
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APAC is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The revenue of the market in APAC is generated mainly from the end-user industries such as electronics and electrical and pharmaceuticals. China dominates the market in APAC. The region makes use of sulfuric acid in the manufacture of explosives, dyestuffs, other acids, parchment paper, glue, purification of petroleum, and the pickling of metals. The market in APAC is one of the most commercially and industrially advanced markets. Thus, the demand from end-user industries will positively impact the market during the forecast period. Therefore, the demand for the expansion of manufacturing facilities in the region will positively impact the growth of the regional market during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The utilization of sulfur trioxide is pivotal in the microelectronics and electronics segments, essential for various applications from semiconductor manufacturing to specialty silica production. In agriculture, sulfur trioxide plays a role in contemporary agricultural practices and food production, supporting global population needs. Its applications extend to infrastructure development and construction projects, where it is used in concrete production and wastewater treatment for pollution control. Initiatives in cleaner production and process improvements underscore its environmental impact and sustainability efforts, crucial for mitigating climate-related challenges. As demand patterns shift, consolidation among raw material suppliers and regional players becomes significant in meeting global sulfur trioxide requirements. Compliance with stringent environmental regulations, monitored by organizations like FMI, ensures responsible usage and disposal of sulfur trioxide across industries.
Industry Scope |
|
Report Coverage |
Details |
Page number |
171 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at CAGR of 3.2% |
Market growth 2024-2028 |
USD 57.9 million |
Market structure |
Concentrated |
YoY growth 2023-2024(%) |
3.06 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 36% |
Key countries |
US, China, Taiwan, UK, and South Korea |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Avantor Inc., BASF SE, Chemtrade Logistics Income Fund, INEOS AG, Jiangyin Jianghua Microelectronic Materials Co. Ltd., Kanto Chemical Co. Inc., KMG Chemicals, Linde Plc, Merck KGaA, PVS Chemicals Inc., SEASTAR CHEMICALS, Suzhou Crystal Clear Chemical Co. Ltd, Tama Chemicals Co. Ltd., and Trident Ltd. |
Market dynamics |
Parent market analysis, Market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Grade Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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