By the end of 2018, the global electronic grade phosphoric acid market is anticipated to be worth US$ 827 million, and by the end of 2028, it is anticipated to be worth over US$ 1.7 billion, growing at a CAGR of 7.8%. From 2018 to 2028, it is predicted that the global market would give an additional potential worth US$ 930 million.
The electronic grade phosphoric acid market is witnessing robust growth, fueled by the increasing demand driven by technology advancements. Electronic grade phosphoric acid, known for its high purity and exceptional performance in semiconductor and electronic component manufacturing, is becoming increasingly indispensable in the rapidly evolving electronics industry.
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One of the key factors driving the market’s growth is the continuous advancements in technology and the increasing demand for high-performance electronic devices. Electronic grade phosphoric acid plays a critical role in the production of integrated circuits, microchips, and other electronic components. Its high purity and controlled impurity levels make it an essential ingredient in the etching and cleaning processes required for manufacturing these advanced electronic devices.
Furthermore, the rising adoption of electronic devices in various sectors, including consumer electronics, telecommunications, automotive, and healthcare, is driving the demand for electronic grade phosphoric acid. The growing need for miniaturization, improved functionality, and enhanced performance of electronic devices is pushing manufacturers to rely on high-quality phosphoric acid for their production processes.
Moreover, ongoing research and development efforts are focused on developing new materials and technologies in the electronics industry. These advancements often require specialized electronic grade phosphoric acid for specific applications, further driving the demand in the market. The continuous innovation and exploration of new possibilities in electronics manufacturing are expected to contribute to the sustained growth of the electronic grade phosphoric acid market.
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As technology advancements continue to shape the electronics industry, the electronic grade phosphoric acid market is experiencing robust growth. Its crucial role in semiconductor and electronic component manufacturing, coupled with the increasing demand for high-performance electronic devices, is driving its adoption. With ongoing research and the demand for advanced electronic devices, the market is poised for further expansion in the coming years.
Companies Covered in This Report –
- Arkema
- OCI Company Ltd
- Israel Chemicals Ltd
- Cabot Microelectronics Corporation
- Merck KGaA
- RIN KAGAKU KOGYO Co.,Ltd
- Taiwan Maxwave Co., Ltd.
- Asia Union Electronic Chemical Corp
- Avantor, Inc.
- Other
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Electronic Grade Phosphoric Acid Market: Segmentation
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