Electronic Grade Hydrogen Peroxide Market REPORT OVERVIEW
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The global electronic grade hydrogen peroxide market size is predicted to value at USD 383.3 million in 2022 and is projected to touch USD 1048.5 million by 2031, exhibiting a Compound annual growth rate (CAGR) of 10.6% during the forecast period.
Hydrogen peroxide is a chemical with the formula of H2O2. In simple form, hydrogen peroxide is water (H2O) with an extra oxygen molecule. It is an extremely pale blue liquid in its purest form, slightly more viscous than water. It has oxidizing, bleaching, disinfecting or sterilizing properties and that is why it is mainly employed as a bleaching agent, oxidizer, and antiseptic. Hydrogen peroxide in diluted form (3–6% by weight) in water is considered for consumer use, whereas higher concentrations is only for industrial use. In healthcare industry due to its antimicrobial and oxidizing properties it is used in over-the-counter (OTC) first aid antiseptics used to clean wounds.
Now days, hydrogen peroxide is increasingly being used in etching applications all over the world. Moreover, usage of H202, has dropped back production price by a considerable margin. Hydrogen peroxide is an essential component in the semiconductor industry. Also, Hydrogen peroxide is increasingly being employed in the semiconductor industry. According to the reports, demand for high-purity hydrogen peroxide registers for 10%-15% of the aggregate high-purity chemical intake in the semiconductor industry. Greater complexity in semiconductor chips is another prime factor that supremely drives the market development, leading to raise in demand for premium quality electronic grade hydrogen peroxide for efficient cleaning and purification of fine geometries and tools. Thus, the electronic grade hydrogen peroxide market is anticipated to go for a higher position in the upcoming years.
COVID-19 Impact: Disruption in Product Supply Causes Market Deformation
The chemical and advanced materials industries were brutally hit due to the coronavirus pandemic and had to face brutal challenges. Work chains and supply chains were badly disturbed that halted the market progression. Many people lost their jobs working in this sector. However, chemicals and advanced materials, such as electronic grade hydrogen peroxide, having disinfecting or sterilizing properties experienced a huge rise in demand as well as production. Even in the post COVID-19 era, market sales continue to go higher.
LATEST TRENDS
"Increase in Demand Product Promotes Market Augmentation"
The future of electronic grade hydrogen peroxide market seems thriving with an estimation to occupy a considerable amount of revenue by growing at a CAGR of ~11% during the forecast period due to the enhanced complexity in semiconductor chips and increasing consumption of the product for etching printed circuit boards, that promises to fortify market economy. Meanwhile, new technologies and gadgets are being introduce to the world every day, and so with the aid of these modern techniques, improved and more wider range of chemicals can be created yielding noteworthy results. Thus, enhancing market growth.
Electronic Grade Hydrogen Peroxide Market SEGMENTATION
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- By Type
The market categorizes into EL (SEMI G1), UP (SEMI G2), UP-S (SEMI G3), UP-SS (SEMI G4) and UP-SSS (SEMI G5).
- By Application
The market categorizes into Semiconductor, Solar Energy, LCD Panel and Others.
DRIVING FACTORS
"Increase in Use of the Product for Etching Printed Circuit Boards Worldwide Bolsters Market Augmentation"
Electronic grade hydrogen peroxide is being extensively used in etching printed circuit boards by combining Sulfuric acid (H2SO4) because of its benefits like high efficacy as an oxidizing and cleaning agent for fine geometries and tools, which in turn is anticipated to boost the electronic grade hydrogen peroxide market growth ominously in upcoming years.
"High Demand of the Product in Other Technological Sectors Enhances Market Growth"
Latest technologies like Internet of Things (IoT), Artificial Intelligence (AI) etc are in a lot of hype recently and are being used in various other sectors. So, with the rise of these technologies, need and production of connected devices is expected to boost the demand for sensors and microcontrollers, which in turn augments the growth of the market in near future.
RESTRAINING FACTORS
"Product’s Toxic Nature Obstructs Market Growth"
Hydrogen Peroxide is extensively used in the healthcare industry as it has antimicrobial and oxidizing properties and are used to clean and disinfect wounds. It is also used in the production of numerous personal care and household products, like hair dyes and bleaches, toothpaste, mouthwashes, bathroom cleaners, and others.
The only disadvantage of using hydrogen peroxide products, is that if it contains more than 3 percent of hydrogen peroxide then it can be extremely hazardous to handle. Concentrated hydrogen peroxide products are only to be use in industries or laboratories that too with extreme caution and supervision. Inhalation of concentrated hydrogen peroxide in the form of vapors, mists, or aerosols can be the reason of asphyxiation in poorly ventilated areas.
Electronic Grade Hydrogen Peroxide Market REGIONAL INSIGHTS
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"Asia Pacific to Lead the Pack Owing to Availability of Resources "
Asia Pacific region to dominate the electronic grade hydrogen peroxide market share attributing to the strong footprint of leading PCB and semiconductor manufacturers in China, South Korea and Japan. Moreover, this region has an excellent network with rest of the world making exporting and importing of goods a lot easier and efficient. Also, North America is anticipated to own significant share of the market and closely follows Asia Pacific region due to the growing fab capacity and increasing investments in electronics industry.
KEY INDUSTRY PLAYERS
"Key market players to Focus on Consumer Relations"
The dominant market companies have decided to focus their knowledge and resources in making the product to be technically up to date so as to bore satisfactory and trustworthy results which ultimately leads to market growth and stronger customer relations. By achieving this, market can easily stay up to date with the present consumer demands resulting in strong relations. With the help of latest technology and knowledge better services and products will be provided to as many customers as possible worldwide, for market development.
List of Market Players Profiled
- Solvay (Belgium)
- Santoku Chemical Industries (Japan)
- MGC (Japan)
- Evonik (Germany)
- Chang Chun Group (Taiwan)
- Arkema (France)
- Technic (United States of America)
- Jiangyin Jianghua Microelectronics Materials (China)
- Asia Union Electronic Chemical Corp (Taiwan)
- Suzhou Jingrui Chemical (China)
- Hangzhou Jingxin Chemical (China)
REPORT COVERAGE
This report promises to present and detailed and thorough analysis that covers all the crucial topics like market landscape, industry growth factors, restraints, supply chains, consumer behavior. This report gives an in-depth analysis briefly but effectively discussing about various market strategies and tactics along with latest trends of the market that are associated with the advancement of the market. Research has also been done on segmentation of respective market on the basis of type and application.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 383.3 Million in 2022 |
Market Size Value By |
US$ 1048.5 Million by 2031 |
Growth Rate |
CAGR of 10.6% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Segments Covered |
Type and Application |
Regional Scope |
Global |
Frequently Asked Questions
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What value is the electronic grade hydrogen peroxide market expected to touch by 2031?
The global electronic grade hydrogen peroxide market is expected to touch USD 1048.5 million by 2031.
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What CAGR is the electronic grade hydrogen peroxide market expected to exhibit by 2031?
The CAGR of the electronic grade hydrogen peroxide market is expected to be 10.6 % by 2031.
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Which are the driving factors of the electronic grade hydrogen peroxide market?
Increase in use of the product for etching printed circuit boards worldwide and in other technological sectors like IoT, AI are the driving factors of the electronic grade hydrogen peroxide market.
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Which are the top companies operating in the electronic grade hydrogen peroxide market?
Solvay, Santoku Chemical Industries, MGC, Evonik, Chang Chun Group, Arkema, Technic, Jiangyin Jianghua Microelectronics Materials, Asia Union Electronic Chemical Corp, Suzhou Jingrui Chemical and Hangzhou Jingxin Chemical.