Global Electronic Grade Nitric Acid Market Size Study, by Type (EL Grade, VL Grade, UL Grade, SL Grade), Application (Semiconductor, Solar Energy, LCD Panel), and Regional Forecasts 2022-2032

Description

The Global Electronic Grade Nitric Acid Market, valued at approximately USD 83.6 million in 2023, is poised to grow at a robust CAGR of 5.40% over the forecast period 2024-2032, reaching an estimated USD 134.21 million by 2032. Electronic grade nitric acid, renowned for its unparalleled purity and reliability, has become indispensable in critical applications such as semiconductor manufacturing, solar energy systems, and LCD panel production. Its ultra-clean nature and exceptional performance under rigorous conditions are driving its adoption across industries with exacting requirements.

The market's expansion is underpinned by the relentless growth in the semiconductor sector, where nitric acid is instrumental in etching and cleaning processes. Similarly, the rising deployment of solar energy solutions worldwide is catalyzing demand for high-purity chemicals to optimize photovoltaic panel production. Technological advancements in ultra-high-purity nitric acid production are enabling manufacturers to meet the stringent quality standards demanded by these cutting-edge industries.

While challenges such as high production costs and environmental concerns over waste disposal exist, the market is bolstered by innovations aimed at sustainability and cost-efficiency. Industry players are increasingly investing in advanced production technologies and forging strategic partnerships to strengthen their market foothold. Emerging economies, with their burgeoning industrial activities and favorable policies, are creating new avenues for growth.

Regionally, Asia-Pacific leads the market, driven by robust semiconductor and electronics manufacturing hubs in countries like China, Japan, and South Korea. North America and Europe maintain significant shares, supported by ongoing advancements in renewable energy and high-tech manufacturing. Latin America and the Middle East & Africa, although smaller markets, exhibit promising growth potential due to increased adoption of renewable energy systems and infrastructure development.

Major market players included in this report are:

BASF SE
Honeywell International Inc.
Mitsubishi Chemical Corporation
Solvay S.A.
Merck KGaA
Fujifilm Corporation
Kanto Chemical Co., Inc.
Linde plc
JSR Corporation
OCI Nitrogen
Air Liquide S.A.
Spectrum Chemical Manufacturing Corp.
Daikin Industries, Ltd.
Tosoh Corporation
Avantor, Inc.

The detailed segments and sub-segments of the market are explained below:

By Type:

EL Grade
VL Grade
UL Grade
SL Grade

By Application:

Semiconductor
Solar Energy
LCD Panel

By Region:

North America:

U.S.
Canada

Europe:

UK
Germany
France
Spain
Italy
Rest of Europe

Asia-Pacific:

China
India
Japan
Australia
South Korea
Rest of Asia Pacific

Latin America:

Brazil
Mexico
Rest of Latin America

Middle East & Africa:

Saudi Arabia
South Africa
Rest of Middle East & Africa

Years considered for the study are as follows:

Historical Year - 2022
Base Year - 2023
Forecast Period - 2024 to 2032

Key Takeaways:

Comprehensive market forecasts and in-depth segmentation analysis over a decade.
Regional insights detailing revenue projections and growth drivers.
Profiles of leading players with an emphasis on strategies, innovations, and market positioning.
Exploration of sustainability initiatives and emerging trends in the industry.
Actionable insights for stakeholders to leverage growth opportunities effectively.

Chapter 1. Global Electronic Grade Nitric Acid Market Executive Summary

1.1. Global Electronic Grade Nitric Acid Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Type
- 1.3.2. By Application
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Electronic Grade Nitric Acid Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Electronic Grade Nitric Acid Market Dynamics

3.1. Market Drivers
- 3.1.1. Growth in Semiconductor Manufacturing
- 3.1.2. Expansion of Solar Energy Deployments
- 3.1.3. Advancements in LCD Panel Technologies
3.2. Market Challenges
- 3.2.1. High Production Costs
- 3.2.2. Environmental Concerns Over Waste Disposal
3.3. Market Opportunities
- 3.3.1. Innovations in Sustainability and Cost-Efficiency
- 3.3.2. Strategic Partnerships and Advanced Production Technologies
- 3.3.3. Growth in Emerging Economies

Chapter 4. Global Electronic Grade Nitric Acid Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Electronic Grade Nitric Acid Market Size & Forecasts by Type 2022-2032

5.1. Segment Dashboard
5.2. Global Electronic Grade Nitric Acid Market: Type Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 5.2.1. EL Grade
- 5.2.2. VL Grade
- 5.2.3. UL Grade
- 5.2.4. SL Grade

Chapter 6. Global Electronic Grade Nitric Acid Market Size & Forecasts by Application 2022-2032

6.1. Segment Dashboard
6.2. Global Electronic Grade Nitric Acid Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 6.2.1. Semiconductor
- 6.2.2. Solar Energy
- 6.2.3. LCD Panel

Chapter 7. Global Electronic Grade Nitric Acid Market Size & Forecasts by Region 2022-2032

7.1. North America Electronic Grade Nitric Acid Market
- 7.1.1. U.S. Electronic Grade Nitric Acid Market
  - 7.1.1.1. Type Breakdown Size & Forecasts, 2022-2032
  - 7.1.1.2. Application Breakdown Size & Forecasts, 2022-2032
- 7.1.2. Canada Electronic Grade Nitric Acid Market
7.2. Europe Electronic Grade Nitric Acid Market
- 7.2.1. UK Electronic Grade Nitric Acid Market
- 7.2.2. Germany Electronic Grade Nitric Acid Market
- 7.2.3. France Electronic Grade Nitric Acid Market
- 7.2.4. Spain Electronic Grade Nitric Acid Market
- 7.2.5. Italy Electronic Grade Nitric Acid Market
- 7.2.6. Rest of Europe Electronic Grade Nitric Acid Market
7.3. Asia-Pacific Electronic Grade Nitric Acid Market
- 7.3.1. China Electronic Grade Nitric Acid Market
- 7.3.2. India Electronic Grade Nitric Acid Market
- 7.3.3. Japan Electronic Grade Nitric Acid Market
- 7.3.4. Australia Electronic Grade Nitric Acid Market
- 7.3.5. South Korea Electronic Grade Nitric Acid Market
- 7.3.6. Rest of Asia Pacific Electronic Grade Nitric Acid Market
7.4. Latin America Electronic Grade Nitric Acid Market
- 7.4.1. Brazil Electronic Grade Nitric Acid Market
- 7.4.2. Mexico Electronic Grade Nitric Acid Market
- 7.4.3. Rest of Latin America Electronic Grade Nitric Acid Market
7.5. Middle East & Africa Electronic Grade Nitric Acid Market
- 7.5.1. Saudi Arabia Electronic Grade Nitric Acid Market
- 7.5.2. South Africa Electronic Grade Nitric Acid Market
- 7.5.3. Rest of Middle East & Africa Electronic Grade Nitric Acid Market

Chapter 8. Competitive Intelligence

8.1. Key Company SWOT Analysis
- 8.1.1. BASF SE
- 8.1.2. Honeywell International Inc.
- 8.1.3. Mitsubishi Chemical Corporation
8.2. Top Market Strategies
8.3. Company Profiles
- 8.3.1. BASF SE
  - 8.3.1.1. Key Information
  - 8.3.1.2. Overview
  - 8.3.1.3. Financial (Subject to Data Availability)
  - 8.3.1.4. Product Summary
  - 8.3.1.5. Market Strategies
- 8.3.2. Honeywell International Inc.
- 8.3.3. Mitsubishi Chemical Corporation
- 8.3.4. Solvay S.A.
- 8.3.5. Merck KGaA
- 8.3.6. Fujifilm Corporation
- 8.3.7. Kanto Chemical Co., Inc.
- 8.3.8. Linde plc
- 8.3.9. JSR Corporation
- 8.3.10. OCI Nitrogen
- 8.3.11. Air Liquide S.A.
- 8.3.12. Spectrum Chemical Manufacturing Corp.
- 8.3.13. Daikin Industries, Ltd.
- 8.3.14. Tosoh Corporation
- 8.3.15. Avantor, Inc.

Chapter 9. Research Process

9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
9.2. Research Attributes