Electronic Grade Hydrofluoric Acid Market size is poised to reach USD 1 Billion by the end of 2036, growing at a CAGR of 8% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of electronic grade hydrofluoric acid was USD 370 Million. The reason behind the growth is impelled by the growing spending on electronics across the globe. Consumer gadgets are becoming increasingly common in high- and middle-class households as a result of mounting urbanization, growing advancements in technology, evolving customer tastes, and an increasing requirement for affordable, user-friendly, high-performing devices.
According to estimates, global spending on TVs, radios, and multimedia products, such as digital cameras, headphones, and speakers, is predicted to increase by over USD 4 billion on an annual basis to reach around USD 194 billion in 2024.
The growing focus on sustainability is believed to fuel the electronic grade hydrofluoric acid market growth. Hydrofluoric acids of electronic grade are essential in the production of passive electronic components such as inductors, which store energy in a magnetic field temporarily when an electric current passes through their coil as they possess a greater efficiency than resistors and the ability to temporarily store energy.
Growth Drivers
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
~8% |
|
Base Year Market Size (2023) |
~ USD 370 Million |
|
Forecast Year Market Size (2036) |
~ USD 1 Billion |
|
Regional Scope |
|
Concentration (49%, >49%)
The >49% segment in electronic grade hydrofluoric acid market is estimated to gain a robust revenue share of 60% in the coming years owing to the growing demand for semiconductors. The worldwide semiconductor market is expected to reach trillion-dollar status by 2030 and is expected to increase at a rate of over 9% over the next ten years owing to the widespread deployment of 5G, the growing need for smartphones, and the robust demand for AI chips. Etching is a sophisticated technology used in the semiconductor industry that is vital for selectively removing material layers from semiconductor wafers.
A very corrosive solution of hydrogen fluoride in water, electronic grade hydrofluoric acid, >49%, is made specifically for the electronics industry to clean silicon wafers and etch semiconductors since these sensitive processes call for extremely pure solvents. The advancements in semiconductor technologies, such as the development of smaller transistor structures, necessitate more sophisticated etching and cleaning processes, thus driving the demand for high-purity HF.
Application (Solar Cells/Photovoltaics, Microelectronics, Semiconductors)
The semiconductors segment in electronic grade hydrofluoric acid market is set to garner a notable share shortly. Strong, corrosive, and reactive, hydrofluoric acid intended for electronic use reacts easily with oxidants, bases, and acids which is used extensively in the semiconductor sector that is now more than ever integrated into all fields to regulate and control the flow of electricity in electrical devices and equipment.
Our in-depth analysis of the global electronic grade hydrofluoric acid market includes the following segments:
|
Grade Type |
|
|
Concentration |
|
|
Application |
|
APAC Market Forecast
Electronic grade hydrofluoric acid market in Asia Pacific is predicted to the largest share of 45% by 2036 impelled by the growing production of fluorspar, and sulfuric acid, which are used in the production of hydrofluoric acid (HF). With a plethora of Mesozoic igneous rocks and significant reserves of fluorspar, China is by far the world's leading producer of fluorspar from mines. For instance, China continues to be the world's largest producer of fluorspar, producing around 5 million tonnes, or over 55% of the entire volume. Particularly, in 2022, China accounted for the majority of global fluorspar mining production, with over 5 million metric tons produced. In addition, China generated more than 90 million metric tons of sulfuric acid in 2022.
North American Market Statistics
The North America electronic grade hydrofluoric acid market is estimated to be the second largest, during the forecast period led by the growing personal disposable income. Consumers who have more disposable income are more likely to buy electronics, which may create a huge demand for electronic-grade hydrofluoric acid. For instance, the United States' disposable personal income rose by more than 0.2% in 2024.
Author Credits: Rajrani Baghel
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?