Electronic Grade Ammonia (NH3) Market Report Overview
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The global electronic grade ammonia (NH3) market size was USD 126 million in 2022, as per our research, the market is expected to reach USD 200.12 million in 2031, exhibiting a CAGR of 5.3 % during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with the electronic grade ammonia (NH3) market experiencing high demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels once the pandemic is over.
Electronic grade ammonia (NH3) is a high-purity type of ammonia used in the electronics sector for a variety of applications including semiconductor fabrication, flat panel display manufacturing, and photovoltaic cell manufacturing. It's also used to make LEDs, optical fibres, and other electronic equipment.
The global electronic grade ammonia market is primarily driven by the expansion of the electronics sector, which has been quickly expanding in recent years due to rising demand for electronic devices and the introduction of new technologies. The industry is likely to expand more in the future years as demand for electronic gadgets and renewable energy sources rises.
COVID-19 Impact: Pandemic has had Mixed Impact on the Market Demand
The global electronic grade ammonia market has been impacted by the COVID-19 pandemic, primarily due to the disruptions in the supply chain and manufacturing operations. The restrictions on movement and trade imposed by various countries have led to delays in the transportation of raw materials and finished products, leading to supply chain disruptions. However, the demand for electronic devices and renewable energy sources has remained strong, and the market is expected to recover in the post-pandemic period. The industry is also witnessing a shift towards remote work and digitalization, which is expected to create new opportunities for electronic grade ammonia market growth.
Latest Trends
"Demand for renewable energy sources, which is driving the growth of the photovoltaic cell production industry"
One of the most recent trends in the worldwide electronic grade ammonia market is the growing demand for renewable energy sources, which is propelling the photovoltaic cell manufacturing sector forward. As a result, demand for electronic grade ammonia is increasing, as it is a critical material used in the fabrication of solar cells. Another trend is the increasing demand for electronic devices such as smartphones and laptops, which is fueling the rise of the semiconductor and flat panel display manufacturing industries, resulting in greater need for electronic grade ammonia.
Electronic Grade Ammonia (NH3) Market Segmentation
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- By Type Analysis
According to type, the electronic grade ammonia (NH3) market can be segmented into above 99.999% Purity
- By Application Analysis
Based on application, the market can be divided into LED, TFT-LCD, Semiconductors, Solar and Others
Driving Factors
"Rise of the renewable energy sector increased the need for ammonia"
The move to renewable energy sources such as solar and wind power is fueling the rise of the photovoltaic cell production business, which requires electronic grade ammonia in the manufacturing process.
"Technological advancements boosting the demand for electronic grade ammonia"
The development of improved semiconductor manufacturing techniques and new electronic gadgets is boosting the demand for high-purity electronic grade ammonia. Increased demand for electronic gadgets like smartphones, laptops, and televisions is fuelling the rise of the electronics industry, which is raising demand for electronic grade ammonia.
Restraining Factors
"High production cost due to use of advanced technologies and equipment to restrict market growth"
One of the major restraining factors in the global electronic grade ammonia market is the high cost associated with the production of high-purity chemical. The production process involves the use of advanced technologies and equipment, which increases the production cost. Moreover, the cost of raw materials used in the production process is also high. This makes electronic grade ammonia a costly material for small and medium-sized companies, which limits its adoption in certain applications. Additionally, the handling and transportation of require specialized equipment and safety measures, which adds to the cost and complexity of its use. These factors are anticipated to setback the electronic grade ammonia (NH3) market growth.
Electronic Grade Ammonia (NH3) Market Regional Insights
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"Growing Demand in Asia Pacific Anticipated to Boost Market Expansion"
In terms of both production and consumption, the Asia Pacific region dominates the global electronic grade ammonia market. The region is home to numerous major electronics manufacturing hubs, including China, Japan, South Korea, and Taiwan, which fuels the region's demand for the material. Furthermore, the region has seen significant growth in the renewable energy sector, which is increasing demand for electronic grade ammonia, which is used in photovoltaic cell production. Because of the existence of major electronics and semiconductor manufacturing companies in these regions, North America and Europe are also significant marketplaces.
Key Industry Players
"Adoption of Innovative Strategies by Key Players Influencing Market Development"
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. The top key players in the market are Linde plc, Sumitomo Seika Chemicals Company, Ltd., Haining Indusair Electronics Co., Ltd., Suzhou Jinhong Gas Co., Ltd., Showa Denko K.K., Air Liquide S.A., Air Products and Chemicals, Inc. and Guangdong Huate Gas Co., Ltd.
Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios. In addition, the strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the market competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession over global electronic grade ammonia (NH3) market share by the key players stimulates the market growth.
List of Market Players Profiled
- Linde plc: Guildford, United Kingdom
- Sumitomo Seika Chemicals Company, Ltd.: Osaka, Japan
- Haining Indusair Electronics Co., Ltd.: Haining, China
- Suzhou Jinhong Gas Co., Ltd.: Suzhou, China
- Showa Denko K.K.: Tokyo, Japan
- Air Liquide S.A.: Paris, France
- Air Products and Chemicals, Inc.: Allentown, Pennsylvania, United States
- Guangdong Huate Gas Co., Ltd.: Guangzhou, China
Report Coverage
This report examines an understanding of the electronic grade ammonia (NH3) market size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.
Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.
This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macroeconomic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 126 Million in 2022 |
Market Size Value By |
US$ 200.12 Million by 2031 |
Growth Rate |
CAGR of 5.3% from 2022 to 2031 |
Forecast Period |
2023-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the global electronic grade ammonia (NH3) market expected to touch by 2031?
Based on our research the market is expected to reach USD 200.12 million in 2031.
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What CAGR is the electronic grade ammonia (NH3) market expected to exhibit by 2031?
The electronic grade ammonia (NH3) market is expected to exhibit a CAGR of 5.3% by 2031.
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Which are the driving factors of the global electronic grade ammonia (NH3) market?
The global electronic grade ammonia market is driven by the growth of the electronics industry, the shift towards renewable energy sources, technological advancements, increasing focus on sustainability, and the growth of emerging economies.
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Which are the top companies operating in the global electronic grade ammonia (NH3) market?
The top key players in the electronic grade ammonia (NH3) market are Linde plc, Sumitomo Seika Chemicals Company, Ltd., Haining Indusair Electronics Co., Ltd., Suzhou Jinhong Gas Co., Ltd., Showa Denko K.K., Air Liquide S.A., Air Products and Chemicals, Inc. and Guangdong Huate Gas Co., Ltd.
