The global electronic grade hydrofluoric acid market size is anticipated to witness exponential growth in the forthcoming years. The increasing global population and swift technological advancements augment the demand for electronic equipment globally. The expanding demand for electronic equipment worldwide is likely to augment the growth of electronic grade hydrofluoric acid. Fortune Business Insights™ has presented this information in an upcoming report titled, “Electronic Grade Hydrofluoric Acid Market, 2021-2028”.
The increasing per capita income has enabled consumers to spend more. The high purchasing power augments the demand for electronic equipment like laptops, smartphones, etc. This is likely to fuel the market growth in the upcoming years.
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Segmentation-
On the basis of type, the market segments into EL grade, UP-SS grade, UP-S grade, UP-grade, etc. On the basis of its application, the market fragments into glass products, monitor panels, solar energy, integrated circuits, etc. Geographically, the market is classified into North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
Report Coverage-
- The report provides a holistic assessment of the prospected market.
- The report analyzes the impact of the COVID-19 pandemic.
- The report highlights the new advancements in the production technologies and key trends in the market.
- The report provides information on the competitive landscape of the market and mentions rankings of key players in the market.
- The report incorporates SWOT Analysis for a precise market prediction.
Drivers & Restraints-
Expanding Electronics Industry to Bolster Market Growth
Electronic grade hydrofluoric acid is utilized as a cleaning agent for silicon wafers in semiconductors. It is an essential chemical utilized in microelectronics. The increasing adoption of ICs and silicon wafers in microelectronics, photovoltaic cells, semiconductors, etc., is anticipated to augment the market growth.
The increasing per capita, enhanced internet connectivity, and growing working population are driving the demand for electronic equipment such as TV sets, laptops, smartphones, etc. The escalating demand for these electronic equipments is likely to bolster the global electronic grade hydrofluoric acid market growth. Additionally, the growth of AI-enabled devices, IoT-enabled devices, and cloud computing systems is anticipated to augment market growth.
The product is utilized for silicon surface cleaning in the solar cell industry. The increasing adoption of solar panels by commercial and residential sectors is expected to complement market growth in the forthcoming years.
However, the corrosive and acidic dispositions may hinder market growth.
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Regional Insights-
Asia Pacific Slated to Witness Highest Growth
Asia Pacific is anticipated to occupy the largest portion in the global electronic grade hydrofluoric acid market share. The swift technological advancements and the easily available raw material augment the product demand from the electronics industry. The rapidly growing electronics industry in emerging economies like India, China, Japan, South Korea, etc., is anticipated to foster the market growth in Asia Pacific.
The immense research and development activities are anticipated to help North America witness significant growth in the forthcoming years.
The escalating demand for electronic equipment such as laptops, smartphones, etc., are likely to help Europe gain a substantial share in the global market.
The Middle East & Africa and Latin America are likely to experience sluggish growth during the forecast period.
Competitive Landscape-
Key Players Amplify R&D Activites and Focus on Inorganic Growth Strategies
The global electronic grade hydrofluoric acid market comprises several key players operating at regional and global levels. The key players across different geographies focus on enhancing their market presence by launching new products, technological advancements, etc. The key players focus on increasing their research and development activities to introduce new advancements in production technologies. The key players additionally emphasize on partnerships, acquisitions, mergers, etc., to solidify their market position and outreach. For instance, Arkema and Nutrien established a new anhydrous fluoride manufacturing plant in Aurora, North Carolina, in June 2020. The plant will utilize the by-product fluorine comprising compounds acquired through phosphate mining.
Key Players in the Global Electronic Grade Hydrofluoric Acid Market are:
- Stella Chemifa Corp
- Honeywell
- Morita
- Suzhou Crystal Clear Chemical
- Solvay (Zhejiang Lansol) Sunlit Chemical
- Jiangyin Jiaghua Microelectronics Materials
- Arkema
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