PUBLISHER: The Business Research Company | PRODUCT CODE: 1531947
PUBLISHER: The Business Research Company | PRODUCT CODE: 1531947
Electronic-grade hydrofluoric acid (HF) is a meticulously refined form of HF utilized predominantly in the semiconductor industry and other advanced technological sectors where minimal impurities are critical. This grade of HF is indispensable for processes requiring utmost precision and cleanliness to prevent contamination and uphold the integrity of electronic components.
The primary classifications of electronic-grade HF encompass ultra-pure grade, ultra-pure special grade, ultra-pure super-special grade, and electronic grade. Ultra-pure grade generally denotes substances that have undergone extensive purification processes to attain an exceptionally high level of purity. It finds diverse applications in integrated circuits, solar energy systems, glass manufacturing, display panels, and various other industries including electronics, semiconductors, photovoltaics, chemicals, automotive, and more.
The electronic grade hydrofluoric acid market research report is one of a series of new reports from The Business Research Company that provides electronic grade hydrofluoric acid market statistics, including electronic grade hydrofluoric acid industry global market size, regional shares, competitors with an electronic grade hydrofluoric acid market share, detailed electronic grade hydrofluoric acid market segments, market trends and opportunities, and any further data you may need to thrive in the electronic grade hydrofluoric acid industry. This electronic-grade hydrofluoric acid market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The electronic grade hydrofluoric acid market size has grown strongly in recent years. It will grow from $1.70 billion in 2023 to $1.82 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth observed in the historical period can be ascribed to the increasing demand and application of electronic equipment, adoption of multiple channels, rising demand from the electronics industry, and expanded production capacities.
The electronic grade hydrofluoric acid market size is expected to see strong growth in the next few years. It will grow to $2.42 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. growth in the forecast period can be attributed to the increasing demand for electronic devices, growing demand for aluminum across various industries, expansion of the semiconductor industry, rising need for advanced electronic components, increasing utilization of solar cells in electricity generation, and growing adoption of smart electronic devices. Key trends anticipated in the forecast period include advancements in technology, automation of integrated circuits, strategic partnerships, research and development initiatives, and the emergence of portable media devices.
The electronic-grade hydrofluoric acid market is poised for growth due to the increasing adoption of electronic products. These products range from everyday consumer gadgets such as smartphones and laptops to larger items such as household appliances, industrial machinery, and medical equipment. Factors driving this adoption include technological advancements, affordability, convenience, and the growing demand for connectivity and digitalization across various aspects of life. Electronic-grade hydrofluoric acid plays a crucial role throughout the manufacturing process of electronic products, ensuring precise patterning, surface modification, and other methods that enhance the reliability and efficiency of electronic devices. For example, in February 2024, consumer electronic products production in Japan reached $201.91 million (¥31,685 million), up from $149.27 million (¥23,425 million) in January 2023. Consequently, the increasing adoption of electronic products is fueling the growth of the electronic-grade hydrofluoric acid market.
The electronic-grade hydrofluoric acid market is also expected to benefit from the rising adoption of electric vehicles (EVs). These vehicles are powered by electric motors using energy stored in rechargeable batteries or other energy storage devices. Factors driving the adoption of EVs include government financial incentives, higher energy density, the development of fast-charging stations, and stricter emission regulations. Electronic-grade hydrofluoric acid is essential for producing high-purity semiconductor components crucial for the operation and performance of various electronic systems within EVs. For instance, according to a March 2022 report from the Department of Energy, sales of new light-duty plug-in electric vehicles (EVs and PHEVs) increased from 3.08 million in 2020 to 6.08 million in 2021. Hence, the increasing adoption of electric vehicles is driving the growth of the electronic-grade hydrofluoric acid market.
Leading companies in the electronic-grade hydrofluoric acid market are focusing on advancing technologies such as high-purity cryolite generation systems to maintain their market position. These systems are designed to produce cryolite, a mineral compound used primarily in the electrolytic production of aluminum. They involve chemical processes that purify raw materials to create high-quality and purity cryolite. For example, Taiwan Semiconductor Manufacturing Company Limited introduced a hydrofluoric acid waste regeneration system in November 2021. This system effectively recovers and purifies hydrofluoric acid from waste streams, offering cost savings, environmental benefits, and regulatory compliance advantages by reducing waste and ensuring a consistent supply of high-purity HF necessary for advanced applications.
Major companies operating in the electronic grade hydrofluoric acid market are Honeywell International Inc., Merck KGaA, Solvay S.A., Air Products and Chemicals Inc., Formosa Daikin Advanced Chemicals Co. Ltd., Formosa Plastics Corporation, Shandong Dongyue Chemical Co. Ltd., KMG Chemicals, Zhejiang Juhua Co. Ltd., Stella Chemifa Corporation, Suzhou Crystal Clear Chemical Co.Ltd., Derivados del Fluor SAU, Zhejiang Sanmei Chemical Incorporated Company, G. Frederick Smith Chemical Company, Advance Research Chemicals Inc., Fujian Shaowu Yongfei Chemical Co. Ltd., Buss ChemTech AG, Loba Chemie Pvt Ltd., Morita Chemical Industries Co. Ltd., Kanto Chemical Co. Inc., Sunlit Chemical Co. Ltd., Hangzhou Dayangchem Co. Ltd., Rishiroop Polymers Pvt. Ltd., Sinochem Lantian Co. Ltd., Xinxiang Yellow River Fine Chemical Industry Co. Ltd.
North America was the largest region in the electronic grade hydrofluoric acid market in 2023. The regions covered in the electronic grade hydrofluoric acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the electronic grade hydrofluoric acid market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The electronic-grade hydrofluoric acid market consists of sales of liquid crystal display (LCD) grade, solar grade, optoelectronic grade, and analytical reagent grade hydrofluoric acid. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Electronic Grade Hydrofluoric Acid Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on electronic grade hydrofluoric acid market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for electronic grade hydrofluoric acid ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The electronic grade hydrofluoric acid market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.