The global electronic grade hydrofluoric acid market was valued at around US$
290.0 Mn in 2017 and is anticipated to expand at a CAGR of around 7.0% from
2018 to 2026, according to a new report published by Transparency Market
Research (TMR) titled ‘Electronic
Grade Hydrofluoric Acid Market – Global Industry Analysis, Size, Share, Growth,
Trends, and Forecast, 2018–2026.’ Expansion in the global electronic
grade hydrofluoric acid market is driven by the rise in demand for the acid in
cosmetic companies. The electronic grade hydrofluoric acid market in Asia Pacific
is expected to expand at a CAGR of around 8.0% during the forecast period.
Advancement in manufacturing technologies and increase in adoption of
sulfate-free personal care products are likely to propel the electronic grade
hydrofluoric acid market in the region in the near future.
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Increase in Production of Electronic Devices
Electronic
grade hydrofluoric acid is a strong, reactive, and corrosive agent that readily
reacts with acids, bases, and oxidants. The corrosive property of hydrofluoric
acid is used for glass etching and ceramic etching in electronic devices.
Electronic grade hydrofluoric acid is primarily used to clean silicon wafers in
semiconductors, microelectronics, and photovoltaic cells. The electronics
industry is expanding at a rapid pace owing to the rise in demand for products
such as computers, smartphones, televisions, and telecommunication equipment.
Increase in production of these electronic devices is anticipated to boost the
electronic grade hydrofluoric acid market.
Rise in Demand for Semiconductors and Microelectronics
in Internet of Things IoT Devices
IoT
devices and artificial intelligence are the major technologies being adopted
across the globe. These technologies enable physical objects to gather and
share electronic information through software, sensors, actuators, and other
electronic systems. Semiconductors and microelectronics play an important role
in electronic systems engaged in IoT devices and artificial intelligence.
Growth in usage of these technologies is anticipated to drive semiconductors
and microelectronics industries. Rise in demand for semiconductors and
microelectronics is estimated to propel the demand for electronic grade
hydrofluoric acid.
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Large Customer Base in Developing Countries of Asia
Pacific to Create Opportunities
In
terms of region, the global electronic grade hydrofluoric acid market can be
segregated into North America, Europe, Asia Pacific, Latin America, and Middle
East & Africa. Asia Pacific constitutes significant share of the global
electronic grade hydrofluoric acid market. China holds prominent share of the
electronic grade hydrofluoric acid market, as it is the largest manufacturing
hub for the electronics industry. The last decade witnessed a notable change in
the electronics industry, wherein large manufacturers of electronic devices
shifted their production capacities from North America and Europe to East Asia
owing to the easy availability of raw materials and competitive labor pricing
in the region. However, the market for electronic grade hydrofluoric acid in
North America and Europe is projected to recover and expand at a moderate pace
during the forecast period.
Key
players operating in the electronic grade hydrofluoric acid market include
Zhejiang Juhua Co., Ltd. (Zhejiang Kaiheng Electronic Materials Co., Ltd. and
Zhejiang Kaisn Fluorochemical Co., Ltd.,), Stella Chemifa Corporation, Formosa
Daikin Advanced Chemicals Co., Ltd., and Morita Chemical Industries Co.,Ltd.
Other prominent players include ADVANCE RESEARCH CHEMICALS. INC, Buss ChemTech
AG, Derivados del Flúor, Do-Fluoride Chemicals Co., Ltd., Fujian Shaowu
Yongjing Chemical Co., Ltd., Honeywell International Inc., KMG Electronic
Chemicals, Loba Chemie Pvt. Ltd., Qiaoli Chemical Industry Co., Ltd. (Sunlit
Fluo & Chemical Co.,LTD), Qshi Industry (Shanghai) Co., Ltd., Shanghai
Changhua New Energy & Technology Co., Ltd., Solvay S.A., Xinxiang Yellow
River Fine Chemical Industry Co., Ltd., and Zhejiang Sanmei Chemical
Incorporated Company. Major players are focusing on backward integration by
striving to expand their business across the value chain in order to gain
additional share in the electronic grade hydrofluoric acid market.
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