The global electronic grade sulfuric acid market is estimated to grow on the back of the applications of sulfuric acid in various end-user industries. Electronic grade sulfuric acid, with concentration 95% or above, is used in the manufacturing of PCB panels. The rising manufacturing and sale of electronic goods is estimated to boost the growth of the market.
Research Nester published a report titled “Electronic Grade Sulfuric Acid Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global electronic grade sulfuric acid market in terms of market segmentation by grade, application, end-user industries, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global electronic grade sulfuric acid market is estimated to garner a significant CAGR over the forecast period, i.e., 2021–2029. The market is segmented by application into semiconductors, PCB panels, and others, out of which, the semiconductors segment is projected to hold the largest share during the forecast period owing to the growing demand for electronics, including, smartphones, televisions, laptops, smartwatches, and others.
On the basis of end-user industries, the market is branched into chemical, electronics, and others, out of which, the electronics segment is anticipated to garner noteworthy share in the forecast period on the back of the usage of sulfuric acid in the manufacturing printed circuit boards, which are the base for any electronic device.
Regionally, the global electronic grade sulfuric acid market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in the Asia Pacific is estimated to attain highest CAGR during the forecast period owing to the expanding electronics manufacturing industry in countries, such as, India, China, Vietnam, and Japan.
The presence of various chemical manufacturing companies in the region, is estimated to boost the market growth. Similarly, the market in North America is foreseen to garner a significant market share during the forecast period, owing to the rising demand for electronics in the region, backed by the raised disposable income in the region.
The global sale of smartphones crossed 1.4 billion in the year 2020. This figure is estimated to reach 1.5 billion by the end of 2021. The growing demand for smartphones is a major growth driver for the market.
The rising demand for electronic devices, especially smartphones, and laptops, has raised the need for printed circuit boards, which in turn is estimated to boost the growth of the market.
However, the safety risks associated with the use of electronic grade sulfuric acid is expected to operate as key restraint to the growth of the market over the forecast period.