CHICAGO, Jan. 8, 2020 /PRNewswire/ -- According to the new market research report "Electronic Grade Sulfuric Acid Market by Grade (PPT, PPB), Application (Semiconductors, PCB Panels, Pharmaceutical) and Region (North America, Europe, APAC, Middle East & Africa, South America) - Global Forecast to 2024", published by MarketsandMarkets, the Electronic Grade Sulfuric Acid Market is projected to grow from USD 300 million in 2019 to USD 415 million by 2024, at a CAGR of 6.7% during the forecast period. The increasing electronic device manufacturing and demand in the developing economies of the APAC region, along with the shift in focus of major electronics manufacturers toward the region, is expected to boost the market during the forecast period.
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PPT grade is estimated to dominate the electronic grade sulfuric acid market.
PPT was the most significant grade of electronic grade sulfuric acid market in 2018. The PPT grade is preferred in semiconductor and IC manufacturing as only the highest grade of sulfuric acid with purity level can be used for the cleaning and etching purpose of semiconductors and ICs.
The PCB panels segment is projected to be the fastest-growing application of electronic grade sulfuric acid during the forecast period.
The PCB panels segment is projected to be the fastest-growing application of electronic grade sulfuric acid during the forecast period. PCB is an electronic circuit used in electronic devices to provide mechanical support. PCB panels find application in almost all electronic devices, including computers, TVs, smartphones, washing machines, coffee makers, and others. The demand for electronic grade sulfuric acid in PCB panel application is majorly driven by its increasing use in automotive, healthcare, industrial electronics, consumer electronics, maritime transport, aerospace & defense, and other industries.
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APAC is estimated to be the largest electronic grade sulfuric acid market during the forecast period.
APAC is projected to be the largest Electronic Grade Sulfuric Acid Market during the forecast period. The booming electronics industry, along with the rising demand for PCB panels and semiconductors, in the region is expected to drive the market during the forecast period.
BASF SE (Germany), INEOS Group Holdings S.A. (UK), Chemtrade Logistics (Canada), KMG Chemicals (US), Kanto Chemical Co., Inc. (Japan), Trident Group (India), The Linde Group (Ireland), PVS Chemicals (US), Reagent Chemicals (UK), and Moses Lake Industries (US) are the major players in the electronic grade sulfuric acid market.
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Browse Adjacent Markets: Bulk Chemicals and Inorganics Market Research Reports & Consulting
Related Report:
Sulfuric Acid Market by Raw Material (Elemental Sulfur, Base Metal Smelters, Pyrite Ore and Others), Application (Fertilizers, Chemical Manufacturing, Metal Processing, Petroleum Refining, Textile Industry, Automotive, Pulp & Paper and Others) and Region - Global Forecast to 2021
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