The global electronic grade sulfuric acid market size is estimated at USD 300 million in 2019 and is projected to reach USD 415 million by 2024, at a CAGR of 6.7% between 2019 and 2024. The growth of the market is fueled by the increasing technological advancements and demand for electronics devices globally.
PPT was the most significant grade of electronic grade sulfuric acid market in 2018. The PPT grade is preferred in semiconductor and IC manufacturing as only the highest grade of sulfuric acid with purity level can be used for the cleaning and etching purpose of semiconductors and ICs.
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The PCB panels segment is projected to be the fastest-growing application of electronic grade sulfuric acid during the forecast period. PCB is an electronic circuit used in electronic devices to provide mechanical support. PCB panels find application in almost all electronic devices, including computers, TVs, smartphones, washing machines, coffee makers, and others. The demand for electronic grade sulfuric acid in PCB panel application is majorly driven by its increasing use in automotive, healthcare, industrial electronics, consumer electronics, maritime transport, aerospace & defense, and other industries.
The key players in the electronic grade sulfuric acid market are BASF SE (Germany), INEOS Group Holdings S.A. (UK), Chemtrade Logistics (Canada), KMG Chemicals (US), Kanto Chemical Co., Inc. (Japan), Trident Group (India), The Linde Group (Ireland), PVS Chemicals (US), Reagent Chemicals (UK), and Moses Lake Industries (US). The report analyzes the key growth strategies adopted by these leading market players, between 2014 and 2019, which include expansion and merger & acquisition.
BASF SE (Germany) is one of the major players of the electronic grade sulfuric acid market. The company operates as a major player in the chemical industry. It functions through six business segments, namely functional materials & solutions, chemicals, performance products, agricultural solutions, and other. The company provides sulfuric acid for electronic applications by the brand name, SELECTIPUR, which is a part of the company’s electronic material product line offered under the dispersions & pigments division of the performance products business segment.
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INEOS Group Holdings S.A. (UK) is one of the leading players in the market. The company is one of the prominent chemical industry players globally, along with an expertise in manufacturing petrochemicals, specialty chemicals, and oil products. It operates through three business segments - O&P North America, O&P Europe, and Chemical Intermediates. The company offers electronic grade sulfuric acid through the INEOS Sulphur Chemicals product line, which forms a part of the INEOS Enterprises business division of the Chemical Intermediates business segment of the company. It comprises 34 businesses with a production network spanning across 183 manufacturing facilities in 26 countries.
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