PUBLISHER: Grand View Research | PRODUCT CODE: 1588471
PUBLISHER: Grand View Research | PRODUCT CODE: 1588471
The global semiconductor grade nitric acid market size was estimated at USD 1,268.04 million in 2023 and is projected to grow at a CAGR of 3.0% from 2024 to 2030. The market is experiencing growth due to the increasing semiconductor manufacturing industry worldwide. The rising demand for high-purity chemicals in the semiconductor industry is expected to drive the market during the projection period. Nitric acid is extensively used in producing semiconductors, primarily for cleaning and etching silicon wafers. The latest trends in the market focus on developing advanced purification techniques to achieve higher purity levels, thereby enhancing the performance of semiconductors.
Semiconductor-grade nitric acid is essential in the fabrication of integrated circuits and microelectronics. It is primarily used for cleaning silicon wafers and as an etching agent, which is crucial for achieving the high purity levels required in semiconductor production. The demand for high-purity chemicals, including nitric acid, is increasing as manufacturers strive for improved performance and reliability in electronic devices.
The rapid expansion of the electronics sector, particularly with the rise of consumer electronics, smartphones, and IoT devices, has led to increased production of semiconductors. This surge in demand directly influences the consumption of semiconductor-grade nitric acid, as it is a vital component in various manufacturing processes.
As countries invest heavily in building new semiconductor fabrication plants (fabs) to meet growing global demand, there is a corresponding increase in the need for high-quality chemicals like semiconductor-grade nitric acid. These investments are often part of national strategies to enhance self-sufficiency in semiconductor production.
Global Semiconductor Grade Nitric Acid Market Report Segmentation
This report forecasts volume & revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global semiconductor grade nitric acid market report based on application & region: