Electronic Grade Hydrofluoric Acid Market Size

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.