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The ultra-pure sulfuric acid market is forecast to increase by USD 63.25 million at a CAGR of 3.59% between 2022 and 2027. The growth of the market depends on several factors, including capacity expansion and new plant additions, the rise in demand for sulfuric acid in the electronics industry, and the advances in materials. This report includes an in-depth analysis of drivers, trends, and challenges. Furthermore, this market research and growth report also includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 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.
Market Challenge
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.
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 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 growth strategies.
Global 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.
Jingrui Chemical Shanghai Co. Ltd. - The company offers ultra-pure sulfuric acid such as nutraceutical, food and beverage, and tantalum refining industries. They offer ultra-clean and high-purity reagents, photoresists, functional materials, and lithium battery materials.
The 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 171.47 million in 2017 and continue to grow by 2021. 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 48% 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 Ultra-Pure Sulfuric Acid Market caters to diverse sectors like Semiconductor Industry, Pharmaceutical Industry, and Electrical & Electronics Industry, providing essential materials for PCB panel manufacturing and IC manufacturing processes. It ensures high-quality production by offering PPT grade sulfuric acid, free from Ionic contaminants and other impurities.
Specialty wet chemical applications in these industries rely on the purity of Oil of vitriol and its derivatives like Hydrogen sulfate and Sulfur trioxide. Associations such as the Semiconductor Industry Association (SIA) and World Semiconductor Trade Statistics (WSTS) monitor market trends, while North American countries play a significant role in demand dynamics. The market thrives on innovation and stringent quality standards to meet the evolving needs of modern industrial applications.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Ultra-Pure Sulfuric Acid Market Scope |
|
Report Coverage |
Details |
Page number |
165 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.59% |
Market growth 2023-2027 |
USD 63.25 million |
Market structure |
Concentrated |
YoY growth 2022-2023(%) |
3.37 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 48% |
Key countries |
US, China, Taiwan, South Korea, and UK |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Avantor Inc., Chemtrade Logistics Income Fund, Crystal Clear Electronic Material Co. Ltd., INEOS Group Holdings SA, Jiangyin Jianghua Microelectronic Materials Co. Ltd., Kanto Chemical Co. Inc., KMG Chemicals, Linde Plc, Merck KGaA, PVS Chemicals Inc., SEASTAR CHEMICALS, Tama Chemicals Co. Ltd., Trident Ltd., and BASF SE |
Market dynamics |
Parent market analysis, 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 the 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. |
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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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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