Ultra-Pure Sulfuric Acid Market - Forecast(2024 - 2030)

Report Code: CMR 96761 Report Format: PDF + Excel

Ultra-Pure Sulfuric Acid Market Overview

Ultra-Pure Sulfuric Acid Market size is forecast to reach US$422.9 million by 2027, after growing at a CAGR of 5.8% during the forecast period 2022-2027. Ultra-pure sulfuric acids are high purity mineral acids used primarily in the electronics industry for semiconductors and printed circuit boards for cleaning and etching application. The growth of the semiconductor industry at the global level is benefiting the Ultra-Pure Sulfuric Acid Market. For instance, according to Semiconductor Industry Association (SIA), the worldwide semiconductor industry sale in 2020 were US$440.4 billion and in 2021 it was US$555.9 billion, the highest-ever yearly total and a 26.2 percent raise over the total in 2020 due to the semiconductor industry ramped up production. Additionally, the surging application of ultra-pure sulfuric acid in the pharmaceuticals industry is expected to benefit the ultra-pure sulfuric acid industry growth during the forecast period.

COVID-19 Impact 

The Covid-19 pandemic has negatively impacted the Ultra-Pure Sulfuric Acid Market growth due to the shortage of raw materials, restrictions on the labor movement, and other factors that restricted industrial production activities in 2020. There was a decline in the industrial production activities related to electrical and electronics, automotive, and others. For instance, according to Japan Electronics and Information Technology Industries Association, in 2019, electronics production in Japan was ¥10,529,921 (approximately US$96,643.6 million), and in 2020 it was ¥9,964,769 million (approximately US$90,578.2 million), a decrease of 5.7%. However, in 2021 the various countries federal government initiatives to strengthen the industrial production activities increased the production activities, such production surge resulted in Ultra-Pure Sulfuric Acid Market growth. Also, it is projected the negative impact of the Covid-19 pandemic will be phased out in upcoming years. This will result in ultra-pure sulfuric acid industry growth similar to the pre-Covid time.

Report Coverage 

The report: "Ultra-Pure Sulfuric Acid MarketForecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Ultra-Pure Sulfuric Acid Market. 

By Purity: Less than 97.9% and More than 98.0% 
By Packaging: Drums, Bags, Bottles, Cans, and Others 
By Application: Microelectronic, Optoelectronics, Photovoltaic, Pharmaceutical Intermediates, and Others 
By End-Use Industry: Electrical and Electronics (Semiconductors, Printed Circuit Boards (PCBs), Integrated Circuits, Batteries, and Others), Medical and Healthcare, Automotive, Solar Energy, Agriculture, Oil and Gas, Water Treatment, and Others 
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East (Saudi Arabia, UAE, Israel, and Rest of Middle East), and Africa (South Africa, Nigeria, and Rest of Africa)) 

Key Takeaways 

  • Asia-Pacific region dominated the Ultra-Pure Sulfuric Acid Market, owing to the growing electrical and electronics industry in the region. For instance, according to Invest India, in 2014-25 India’s electronics production was US$29 billion, and in 2020-21 to US$67 billion, an increase of more than double. 
  • The ongoing research and developments related to the oxidant solution process of manufacturing ultra-pure sulfuric acid are expected to create opportunities for market growth during the projected period. 
  • Furthermore, government backing for the semiconductor and pharmaceutical industries is driving up demand for ultra-pure sulfuric acid, which is also accelerating the market growth. 
  • Nevertheless, the production constraints associated with the manufacturing of ultra-pure sulfuric acid are hampering the market growth. 

Figure: Asia-Pacific Ultra-Pure Sulfuric Acid Market Revenue, 2021-2027 (US$ Million)

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Ultra-Pure Sulfuric Acid Market Segment Analysis – By Application 

The microelectronics segment held the largest share in the Ultra-Pure Sulfuric Acid Market in 2021 and is forecasted to grow at a CAGR of 6.1% during the forecast period 2022-2027. Ultra-pure sulfuric acid is a critical reagent used in microelectronics manufacturing procedures to remove photoresists from silicon wafers and generate chips for electronic products such as computers, smartphones, and televisions. The production of microelectronics which includes semiconductors is surging due to its increasing application in electric vehicles, electronics, and more. According to Japan Electronics and Information Technology Industries Association (JEITA), in 2020, the production of the global semiconductor at the global level was US$440.4 billion, and in 2021, it was estimated at US$553 billion, an increase of 26%. Thus, the surging microelectronics industry is expected to boost the demand for ultra-pure sulfuric acid. Therefore, the increasing application of ultra-pure sulfuric acid in microelectronics is benefiting the market growth. 

Ultra-Pure Sulfuric Acid Market Segment Analysis – By End-Use Industry 

The electrical and electronics segment held the largest share in the Ultra-Pure Sulfuric Acid Market in 2021 and is forecasted to grow at a CAGR of 7.5% during the forecast period 2022-2027. The electrical and electronics industry utilizes ultra-pure sulfuric acid in various concentrations for the creation of printed circuit boards, and the production of semiconductors, as a cleaning agent, and etching agent, among other applications. The electrical and electronics industry is growing due to the factors such as increasing industrial construction, power generation, and more. For instance, according to Japan Electronics and Information Technology Industries Association (JEITA), in 2020, the worldwide electrical and electronics production was US$3,033.7 billion, and in 2021 it was about US$3,330.6billion, an increase of about 9.8%. Hence, the growing electrical and electronics industry is expected to fuel the demand for ultra-pure sulfuric acid, which is further propelling the market growth.

Ultra-Pure Sulfuric Acid Market Segment Analysis – By Geography 

Asia-Pacific region is the dominating region as it holds the largest share in the Ultra-Pure Sulfuric Acid Market in 2021 up to 43%. The economic growth of the Asia-Pacific region is driven by the growth of electrical and electronics, pharmaceuticals, and other such sectors in the region. The factors such as increasing foreign direct investment, strong government support, and other factors are promoting the surging production of electrical and electronics products in the Asia-Pacific region. For instance, according to the Japan Electronics and Information Technology Industries Association, in 2020, electronics production in Japan was ¥9,964,769 million (US$93,389.8 million), and in 2021 it was ¥10,954,346 million (US$99,772.2 million), an increase of about 6.8%. Moreover, according to Invest India, domestic electronics manufacturing in India has increased by more than 2.3X in the last six years, rising from US$29 billion in FY15 to US$67 billion in FY21. Moreover, according to Taiwan Semiconductor Industry Association, the Taiwan integrated circuits market was valued at about US$108.9 billion, up 20.9% from 2019. Therefore, the electrical and electronics industry growth in the Asia-Pacific region is fueling the Ultra-Pure Sulfuric Acid Market growth. 

Ultra-Pure Sulfuric Acid Market Drivers 

Surging Pharmaceuticals Industry 

In the pharmaceuticals industry ultra-pure sulfuric acid is used in the pharmaceuticals intermediary to make a variety of drugs in bulk quantities, as well as for research and development. The factors such as changing regulatory constraints, disruptive technology, and other reasons are pressuring pharmaceutical companies to accelerate innovation to increase efficiency and product quality. This has resulted in surging pharmaceuticals production in various regions. For instance, according to the Pharmaceutical Industry in Figures report published by the European Federation of Pharmaceutical Industries and Associations (EFPIA), in the year 2019, there was a growth of 54.43% in the total pharmaceutical production in France, which was €35.85 billion (US$40.95billion). Likewise, according to the Journal of the American Medical Association, demand for pharmaceuticals from public hospitals has increased globally since 2020. Azithromycin, Hydroxychloroquine, Corticosteroids, and Heparin have all climbed by 11.45 percent, 6.14 percent, 24.68 percent, and 49.05 percent, respectively, according to the report. Hence, the surging application of pharmaceuticals intermediary is expected to fuel the demand for ultra-pure sulfuric acid, which is driving the market growth. 

Federal Government Initiatives Regarding Semiconductor 

Ultra-pure sulfuric acid is employed in the manufacturing process of semiconductors because the use of ultra-pure sulfuric acid ensures lower photoresist, thereby ensuring higher durability and performance. The federal government is taking certain initiatives to surge the production of semiconductors. For instance, in June 2021, The U. S. government has taken the lead in fortifying America's semiconductor supply chains by making significant expenditures on U.S. chip manufacture and innovation. The United States government passed the United States Innovation and Competition Act (USICA) sweeping competitiveness legislation that contains US$ 52 billion to boost local chip manufacture, research, and design. The Japanese government planned to make an aggressive push to help domestic semiconductor companies expand globally, to increase their annual revenue to more than US$114 billion by 2030. Hence, such government initiatives will propel the production of semiconductors in the future, thereby, benefiting the market during the forecast period. Therefore, such government initiatives regarding surging the production of semiconductors are expected to propel the demand for ultra-pure sulfuric acid, which in turn is accelerating the market growth. 

Ultra-Pure Sulfuric Acid Market Challenges 

Production Related Issues 

The production-related issues associated with the manufacturing process of ultra-pure sulfuric acid are restricting the market growth. The direct distillation of the raw material and industrial sulfuric acid at its boiling point to remove impurities produces challenges such as acid mist creation, pollution, control measures, high energy consumption, and higher operating costs. As a result of these production-related issues, new manufacturing methods are required to solve the aforementioned challenge, which is resulting in the addition of costs. Hence, such production-related challenges associated with ultra-pure sulfuric acid are posing a major restrain for the market growth of ultra-pure sulfuric acid during the forecast period. 

Ultra-Pure Sulfuric Acid Industry Outlook 

Technology launches, acquisitions, and increased R&D activities are key strategies adopted by players in the global Ultra-Pure Sulfuric Acid Market. Global ultra-pure sulfuric acid top 10 companies are: 

  1. Avantor Inc. 
  2. BASF SE 
  3. INEOS Group Holdings SA 
  4. Jiangyin Jianghua Microelectronic Materials Co. Ltd. 
  5. Jingrui Electronic Materials Co. Ltd. 
  6. Kanto Chemical Co. Inc. 
  7. KMG Chemicals 
  8. Linde Plc 
  9. Merck KGaA 
  10. Moses Lake Industries 

Recent Developments

  • In August 2021, Sumitomo Chemical announced to increase its production capacity for high-purity semiconductor chemicals. The company will install new production lines to double its capacity for high-purity sulfuric acid (Niihama City, Ehime, Japan), at its Ehime Works. Ehime Works plans to start using the new production lines in the first part of fiscal 2024. 
  • In August 2021, International Chemical Investors Group acquired the sulfur chemicals division, which also includes ultra-pure sulfuric acid products of INEOS Enterprises. 
  • In July 2021, BASF, Zhejiang Jiafu New Material Technology Co. Ltd., and Zhejiang Jiahua Energy Chemical Industry Co. Ltd. have begun building an electronic-grade sulfuric acid facility in China for the Semiconductor industry. 

Relevant Reports 

Report Code: CMR 0740 

Report Code: CMR 1237 

Report Code: CMR 0581

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1. Ultra-Pure Sulfuric Acid Market: Market Overview
    1.1 Definitions and Scope
2. Ultra-Pure Sulfuric Acid Market- Executive Summary 
    2.1 Key Trends by Purity
    2.2 Key Trends by Packaging 
    2.3 Key Trends by Application 
    2.4 Key Trends by End-Use Industry 
    2.5 Key Trends by Geography
3. Ultra-Pure Sulfuric Acid Market– Comparative analysis
    3.1 Market Share Analysis- Major Companies 
    3.2 Product Benchmarking- Major Companies 
    3.4 Top 5 Financials Analysis 
    3.5 Patent Analysis- Major Companies 
    3.6 Pricing Analysis (ASPs will be provided) 
4. Ultra-Pure Sulfuric Acid Market- Startup companies Scenario Premium Premium 
    4.1 Major startup company analysis: 
        4.1.1 Investment 
        4.1.2 Revenue 
        4.1.3 Product portfolio 
        4.1.4 Venture Capital and Funding Scenario 
5. Ultra-Pure Sulfuric Acid Market– Industry Market Entry Scenario Premium Premium 
    5.1 Regulatory Framework Overview 
    5.2 New Business and Ease of Doing Business Index 
    5.3 Successful Venture Profiles 
    5.4 Customer Analysis – Major companies 
6. Ultra-Pure Sulfuric Acid Market- Market Forces 
    6.1 Market Drivers 
    6.2 Market Constraints 
    6.3 Porters Five Force Model 
        6.3.1 Bargaining Power of Suppliers 
        6.3.2 Bargaining Powers of Buyers 
        6.3.3 Threat of New Entrants 
        6.3.4 Competitive Rivalry 
        6.3.5 Threat of Substitutes
7. Ultra-Pure Sulfuric Acid Market– Strategic Analysis 
    7.1 Value/Supply Chain Analysis 
    7.2 Opportunity Analysis 
    7.3 Product/Market Life Cycle 
    7.4 Distributor Analysis – Major Companies 
8. Ultra-Pure Sulfuric Acid Market-By Purity (Market Size –US$ Million/Billion) 
    8.1 Less than 97.9%
    8.2 More than 98.0% 
9. Ultra-Pure Sulfuric Acid Market-By Packaging (Market Size –US$ Million/Billion) 
    9.1 Drums 
    9.2 Bags 
    9.3 Bottles 
    9.4 Cans 
    9.5 Others 
10. Ultra-Pure Sulfuric Acid Market-By Application (Market Size –US$ Million/Billion) 
    10.1 Microelectronic
    10.2 Optoelectronics 
    10.3 Photovoltaic 
    10.4 Pharmaceutical Intermediates
    10.5 Others
11. Ultra-Pure Sulfuric Acid Market-By End-Use Industry(Market Size -US$ Million/Billion) 
    11.1 Electrical and Electronics 
        11.1.1 Semiconductors 
        11.1.2 Printed Circuit Boards (PCBs) 
        11.1.3 Integrated Circuits 
        11.1.4 Batteries 
        11.1.5 Others 
    11.2 Medical and Healthcare
    11.3 Automotive 
    11.4 Solar Energy 
    11.5 Agriculture 
    11.6 Oil and Gas 
    11.7 Water Treatment 
    11.8 Others
12. Ultra-Pure Sulfuric Acid Market-By Geography (Market Size -US$ Million/Billion) 
    12.1 North America 
        12.1.1 USA 
        12.1.2 Canada 
        12.1.3 Mexico 
    12.2 Europe 
        12.2.1 UK 
        12.2.2 Germany 
        12.2.3 France 
        12.2.4 Italy 
        12.2.5 Netherlands 
        12.2.6 Spain 
        12.2.7 Russia 
        12.2.8 Belgium 
        12.2.9 Rest of Europe 
    12.3 Asia-Pacific 
        12.3.1 China 
        12.3.2 Japan 
        12.3.3 India 
        12.3.4 South Korea 
        12.3.5 Australia and New Zealand 
        12.3.6 Indonesia 
        12.3.7 Taiwan 
        12.3.8 Malaysia 
        12.3.9 Rest of APAC 
    12.4 South America 
        12.4.1 Brazil 
        12.4.2 Argentina 
        12.4.3 Colombia 
        12.4.4 Chile 
        12.4.5 Rest of South America 
    12.5 Rest of the World 
        12.5.1 Middle East 
            12.5.1.1 Saudi Arabia 
            12.5.1.2 UAE 
            12.5.1.3 Israel 
            12.5.1.4 Rest of Middle East 
        12.5.2 Africa 
            12.5.2.1 South Africa 
            12.5.2.2 Nigeria 
            12.5.2.3 Rest of Africa 
13. Ultra-Pure Sulfuric Acid Market – Entropy
    13.1 New Product Launches 
    13.2 M&As, Collaborations, JVs and Partnerships 
14. Ultra-Pure Sulfuric Acid Market–Industry / Segment Competition landscape Premium Premium 
    14.1 Company Benchmarking Matrix – Major Companies 
    14.2 Market Share at Global Level - Major companies 
    14.3 Market Share by Key Region - Major companies 
    14.4 Market Share by Key Country - Major companies 
    14.5 Market Share by Key Application - Major companies 
    14.6 Market Share by Key Product Type/Product category- Major companies 
15. Ultra-Pure Sulfuric Acid Market – Key Company List by Country Premium Premium 
16. Ultra-Pure Sulfuric Acid Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments 
    16.1 Company 1 
    16.2 Company 2 
    16.3 Company 3 
    16.4 Company 4 
    16.5 Company 5 
    16.6 Company 6 
    16.7 Company 7 
    16.8 Company 8 
    16.9 Company 9 
    16.10 Company 10 and more 
"*Financials would be provided on a best efforts basis for private companies*"

LIST OF TABLES

1.Global Ultra-Pure Sulfuric Acid Market, by Type Market 2019-2024 ($M)
2.Global Ultra-Pure Sulfuric Acid Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
3.Global Ultra-Pure Sulfuric Acid Market, by Type Market 2019-2024 (Volume/Units)
4.Global Ultra-Pure Sulfuric Acid Market Analysis and Forecast by Type and Application Market 2019-2024 (Volume/Units)
5.North America Ultra-Pure Sulfuric Acid Market, by Type Market 2019-2024 ($M)
6.North America Ultra-Pure Sulfuric Acid Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
7.South America Ultra-Pure Sulfuric Acid Market, by Type Market 2019-2024 ($M)
8.South America Ultra-Pure Sulfuric Acid Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
9.Europe Ultra-Pure Sulfuric Acid Market, by Type Market 2019-2024 ($M)
10.Europe Ultra-Pure Sulfuric Acid Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
11.APAC Ultra-Pure Sulfuric Acid Market, by Type Market 2019-2024 ($M)
12.APAC Ultra-Pure Sulfuric Acid Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
13.MENA Ultra-Pure Sulfuric Acid Market, by Type Market 2019-2024 ($M)
14.MENA Ultra-Pure Sulfuric Acid Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)

LIST OF FIGURES

1.US Global Ultra-Pure Sulfuric Acid Industry Market Revenue, 2019-2024 ($M)
2.Canada Global Ultra-Pure Sulfuric Acid Industry Market Revenue, 2019-2024 ($M)
3.Mexico Global Ultra-Pure Sulfuric Acid Industry Market Revenue, 2019-2024 ($M)
4.Brazil Global Ultra-Pure Sulfuric Acid Industry Market Revenue, 2019-2024 ($M)
5.Argentina Global Ultra-Pure Sulfuric Acid Industry Market Revenue, 2019-2024 ($M)
6.Peru Global Ultra-Pure Sulfuric Acid Industry Market Revenue, 2019-2024 ($M)
7.Colombia Global Ultra-Pure Sulfuric Acid Industry Market Revenue, 2019-2024 ($M)
8.Chile Global Ultra-Pure Sulfuric Acid Industry Market Revenue, 2019-2024 ($M)
9.Rest of South America Global Ultra-Pure Sulfuric Acid Industry Market Revenue, 2019-2024 ($M)
10.UK Global Ultra-Pure Sulfuric Acid Industry Market Revenue, 2019-2024 ($M)
11.Germany Global Ultra-Pure Sulfuric Acid Industry Market Revenue, 2019-2024 ($M)
12.France Global Ultra-Pure Sulfuric Acid Industry Market Revenue, 2019-2024 ($M)
13.Italy Global Ultra-Pure Sulfuric Acid Industry Market Revenue, 2019-2024 ($M)
14.Spain Global Ultra-Pure Sulfuric Acid Industry Market Revenue, 2019-2024 ($M)
15.Rest of Europe Global Ultra-Pure Sulfuric Acid Industry Market Revenue, 2019-2024 ($M)
16.China Global Ultra-Pure Sulfuric Acid Industry Market Revenue, 2019-2024 ($M)
17.India Global Ultra-Pure Sulfuric Acid Industry Market Revenue, 2019-2024 ($M)
18.Japan Global Ultra-Pure Sulfuric Acid Industry Market Revenue, 2019-2024 ($M)
19.South Korea Global Ultra-Pure Sulfuric Acid Industry Market Revenue, 2019-2024 ($M)
20.South Africa Global Ultra-Pure Sulfuric Acid Industry Market Revenue, 2019-2024 ($M)
21.North America Global Ultra-Pure Sulfuric Acid Industry By Application
22.South America Global Ultra-Pure Sulfuric Acid Industry By Application
23.Europe Global Ultra-Pure Sulfuric Acid Industry By Application
24.APAC Global Ultra-Pure Sulfuric Acid Industry By Application
25.MENA Global Ultra-Pure Sulfuric Acid Industry By Application