Global Electronic Grade Hydrochloric Acid Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global Electronic Grade Hydrochloric Acid Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Hydrochloric acid is an aqueous solution of hydrogen chloride (HCl), which is one of the common chemicals. According to different applications, hydrochloric acid can be divided into industrial grade hydrochloric acid, electronic grade hydrochloric acid, reagent grade hydrochloric acid, and so on. Among them, electronic grade hydrochloric acid refers to hydrochloric acid products that can be applied in medicine, the chemical industry, semiconductors, large-scale integrated circuits, and other fields. Electronic grade hydrochloric acid belongs to the high-end, high-performance products of hydrochloric acid, which need to have a high purity and a very low content of HCI, HO, metal ions, and other organic impurities.

Market Overview:

The latest research study on the global Electronic Grade Hydrochloric Acid market finds that the global Electronic Grade Hydrochloric Acid market reached a value of USD 1600.06 million in 2023. It’s expected that the market will achieve USD 3225.94 million by 2029, exhibiting a CAGR of 12.4% during the forecast period.

Inflation affects all aspects of the economy, from consumer spending, business investment, and employment rates to government programs, tax policies, and interest rates. Understanding inflation is crucial to investing and manufacturing because inflation can reduce the value of investment returns. One of the effects of the current inflation on products such as Electronic Grade Hydrochloric Acid is its impact on raw material prices.

Growing demand for electronic devices

Growing demand for electronic devices drives increasing use the of electronic-grade hydrochloric acid. This is expected to drive the electronic grade hydrochloric acid market. The electronics devices market has witnessed a remarkable increase in the past couple of years. More and more consumers now spend on a host of electronic products that range from wearables, and laptops to home appliances.

Rising use of semiconductors

Rising Use of Semiconductors Leads to Increasing Demand for Chemicals like Electronic Grade Hydrochloric Acid. The growing use of semiconductors in various industries, including automotive, aerospace, and healthcare, is driving the demand for the product. Semiconductors are also used in the production of renewable energy sources such as solar panels, which is further boosting the demand for electronic-grade hydrochloric acid.

Region Overview:

In 2022, the share of the Electronic Grade Hydrochloric Acid market in North America stood at 16.13%.

Company Overview:

BASF is one of the major players operating in the Electronic Grade Hydrochloric Acid market, holding a share of 7.31% in 2023.
BASF SE is a European multinational company and the largest chemical producer in the world. Its headquarters are located in Ludwigshafen, Germany. BASF comprises subsidiaries and joint ventures in more than countries, operating integrated production sites and other production sites across Europe, Asia, Australia, the Americas, and Africa. BASF has customers in over 190 countries and supplies products to a wide variety of industries. Despite its size and global presence.

Segmentation Overview:

Among different product types, Concentration>33% segment is anticipated to contribute the largest market share in 2028.

Concentration: 31-33%

The electronic-grade hydrochloric acid market can be categorized into two types based on its concentration. The first type consists of hydrochloric acid with a concentration ranging from 31-33%. This concentration level can used in the electronics industry for applications such as cleaning and etching electronic components.

Concentration>33%

The second type comprises hydrochloric acid with a concentration higher than 33%. This higher concentration is typically employed as a raw material in the production of microchips and electronic devices due to its superior purity and reactivity. Both types play crucial roles in various electronic manufacturing processes, semiconductors, display panels, the solar industry, and the pharmaceutical field.

Application Overview:

By application, the Semiconductor segment occupied the biggest share from 2018 to 2022.

Semiconductor

A semiconductor is a material that has an electrical conductivity value falling between that of a conductor, such as copper, and an insulator, such as glass. Semiconductors are employed in the manufacture of various kinds of electronic devices, including diodes, transistors, and integrated circuits. Electronic grade hydrochloric acid can be used in the production of semiconductor components, the assembly of ultra-large-scale integrated circuits, as well as cleaning and corrosion during processing.

Display Panel

A panel display is an electronic display used to display visual content such as text or images. It is present in consumer, medical, transportation, and industrial equipment.

Solar Industry

The solar industry ‘s strong growth and many benefits have it primed to become a key aspect of renewable energy resources in the future. From solar panel production to the solar conversion process itself, there are a number of common chemicals utilized, which include Electronic Grade Hydrochloric Acid. Specifically, the processed silicon used in solar cells is almost completely pure – sometimes up to 99.6 percent purity. But that is often not pure enough for effective use. In these cases, the silicon must go through more chemical processing, where it is mixed with copper and hydrochloric acid.

Pharmaceutical

In the pharmaceutical industry, Electronic Grade Hydrochloric Acid can be used for drug formulation and manufacturing, as well as in laboratory research.

Other

In addition to the above applications, Electronic Grade Hydrochloric Acid is used in other fields such as chemistry.

Key Companies in the global Electronic Grade Hydrochloric Acid market covered in Chapter 3:

Vynova
Kanto Chemical Co.
BASF
Mitsubishi chemical
Detrex Chemicals
Suhua Group
Suzhou Crystal Clear Chemical
Grandit Co.,Ltd
KMG Electronic Chemicals
Honeywell
Jianghua Microelectronics Materials

In Chapter 4 and Chapter 14.2, on the basis of types, the Electronic Grade Hydrochloric Acid market from 2019 to 2030 is primarily split into:

Concentration: 31-33%
Concentration>33%

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Electronic Grade Hydrochloric Acid market from 2019 to 2030 covers:

Semiconductor
Display panel
Solar industry
Pharmaceutical
Other

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)