Ultra pure sulfuric acid, also known as high purity sulfuric acid, is an inorganic compound that is colorless, odorless, and highly corrosive liquid. It is majorly used as an electrolyte in lead-acid batteries and for cleaning applications in the semiconductor industry. In semiconductors, ultra pure sulfuric acid is used in the wafer cleaning process to remove metal contaminants and organic residues from wafer surfaces. The global semiconductor industry has been witnessing significant growth in recent years due to rising demand for electronic goods such as smartphones, tablets, and electric vehicles. This has propelled the demand for semiconductors, thereby driving the consumption of ultra pure sulfuric acid in cleaning applications.
The global Ultra Pure Sulfuric Acid Market is estimated to be valued at Us$ 16.65 Bn in 2023 and is expected to exhibit a CAGR Of 1.7% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
One of the key drivers for the ultra pure sulfuric acid Market is the growing semiconductor industry. As mentioned earlier, ultra pure sulfuric acid finds major application in cleaning wafer surfaces in the semiconductor manufacturing process. With advancement in technology, demand for smaller and more powerful semiconductor chips is on the rise. This has necessitated higher purity levels during manufacturing, thereby augmenting the consumption of ultra pure sulfuric acid. According to World Semiconductor Trade Statistics (WSTS), the global semiconductor market reached US$ 482 Bn in 2021 and is expected to grow further at a CAGR of 5.1% between 2022 to 2026. Such robust growth of the end-use semiconductor industry will certainly drive the demand for ultra pure sulfuric acid over the forecast period.
The other driver is its use as an electrolyte in lead-acid batteries. Ultra pure sulfuric acid improves battery performance and life by maintaining optimal acid concentration inside batteries during use. Growing automotive and industrial sectors are propelling the demand for lead-acid batteries for numerous applications such as starting, lighting and ignition in vehicles, and backup power requirements. This will subsequently increase consumption of ultra pure sulfuric acid in battery manufacturing.
SWOT Analysis
Strength: Ultra pure sulfuric acid has high purity which is required for many industrial applications. It is compatible with most materials used in semiconductor industry which requires highly pure chemicals. Production process of ultra pure sulfuric acid ensures removal of impurities within specified limits.
Weakness: Production of ultra pure sulfuric acid with purity levels of more than 99.999% requires highly advanced purification techniques and equipment's. This increases production cost of ultra pure sulfuric acid. Transportation of ultra pure sulfuric acid poses safety challenges due to its highly corrosive nature.
Opportunity: Growing semiconductor industry is the major consumer of ultra pure sulfuric acid. Increasing global demand for electronic devices will boost consumption of ultra pure sulfuric acid in semiconductor fabrication. Emerging applications in pharmaceutical and chemical industries can present new opportunities.
Threats: Presence of established players increases competition. Innovation in purification technologies by competitors can affect market share. Volatility in raw material prices can increase production cost.
Key Takeaways
The global Ultra Pure Sulfuric Acid Market Demand is expected to witness high growth. The global ultra pure sulfuric acid Market is estimated to be valued at US$ 16.65 Bn in 2023 and is expected to exhibit a CAGR of 1.7% over the forecast period 2023 to 2030.
Regional analysis related content comprises Asia Pacific dominates the global market and is expected to witness highest CAGR during the forecast period. Factors such as presence of global semiconductor fabricating companies and growing consumption in China, South Korea, and Taiwan are fueling market growth in the region.
Key players related content comprises Key players operating in the ultra pure sulfuric acid market are ACME Printing, Cenveo Corporation, R.R. Donnelley & Sons, Vistaprint (CIM PRESS PLC), Toppan Co Limited, Transcontinental Inc. They are focusing on expanding production capacities and new product launches to cater to increasing demand and gain competitive advantage.
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