Electronic Grade Phosphoric Acid Market Size, Share, Growth, And Industry Analysis By Type (Panel Level and IC Level) By Application (Cleaning, Etching, and Others), Regional Insights, and Forecast To 2032

Updated On: 15 April 2024

electronic grade phosphoric acid market Report Overview

The global electronic grade phosphoric acid market size was USD 1170.8 million in 2022. As per our research, the market is expected to reach USD 1651.5 million by 2028, exhibiting a CAGR of 5.9% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the electronic grade phosphoric acid market growth and demand returning to pre-pandemic levels once the pandemic is over.

There are numerous uses for this specialized form of phosphoric acid in the electronics sector. Phosphoric acid of the electronic grade is renowned for its superb quality and great purity. It is produced using exacting procedures to guarantee that it satisfies the exacting standards of the electronics industry. This kind of phosphoric acid is frequently employed in the manufacture of semiconductors, integrated circuits, and other electronic components.

Phosphoric acid of the electronic grade comes in a variety of forms. The 85% Electronic Grade Phosphoric Acid is one of the most popular varieties used extensively in producing electronic goods. Because of its excellent purity and low impurity levels, this particular form of phosphoric acid is highly sought after. The 99% Electronic Grade Phosphoric Acid is a variety of electronic grade phosphoric acid that is much purer and contains fewer impurities. This phosphoric acid type is often used to fabricate advanced microchips and other high-tech electronic devices.

COVID-19 Impact:

"Remote Work And Online Learning Led to Market Growth "

The Covid-19 epidemic has significantly impacted this market. The need for electronic gadgets increased dramatically as more people began working remotely and attending classes online. Due to its importance in the manufacture of electronic devices, this increase in demand directly impacts this market. We may anticipate exciting developments in this market over the next several years due to businesses investing extensively in research and development to accommodate this rising demand.

Latest Trends

"Enhancing The Properties To Optimize The Performance Of Electronic Devices Boost The Market Expansion"

Everyone in the business is excited as a breakthrough trend in this market occurs. This newest trend is expected to revolutionize how electrical products are made and dominate the market. The manufacture of semiconductors and other electronic equipment requires electronic grade phosphoric acid because of its high purity and remarkable quality. Manufacturers continuously search for novel solutions due to the rising demand for more sophisticated and effective technologies. The most recent development concentrates on improving its characteristics to further boost the functionality of electronics.

electronic grade phosphoric acid market Segmentation

• By Type Analysis

The electronic grade phosphoric acid market can be segmented into panel level and IC level. Among these, the panel level is projected to experience rapid growth through 2028.

• By Application Analysis

The market can be divided based on application into cleaning, etching, and others. Cleaning is expected to hold the most significant electronic grade phosphoric acid market share in the upcoming years.

Driving Factors

"Increasing Use Of Electronic Devices In Various Industries, Such As Telecommunications, Automotive, And Healthcare, Propel the Market Expansion"

Several important driving variables are contributing to the unprecedented growth in demand for electronic grade phosphoric acid. The growing usage of electronic devices across various industries, including telecommunications, automotive, and healthcare, is a major contributing factor. They play a key role in these industries' requirements for high-quality electronic components as they continue to develop and innovate. Manufacturing electronic components like semiconductors and printed circuit boards, which are the foundation of contemporary technology, requires this acid.

"Growing Demand For Renewable Energy Sources Fuels the Market Growth"

The rising demand for renewable energy sources is another factor influencing this market. Solar panels and other renewable energy sources are increasingly in use as the world places more emphasis on sustainability and lowering carbon emissions. These systems rely significantly on electronic components, whose production calls for Electronic Grade Phosphoric Acid. The need for this acid rises in tandem with the development of the renewable energy sector.

Restraining Factors

"High Cost Of Production And Limited Availability Of Raw Materials Hinder The Market Growth"

The high expense of producing electrical grade phosphoric acid is one of the primary causes. This can be attributable to the demanding high purity standards and complicated manufacturing procedures. Another constraint is the need for more raw materials to produce electronic grade phosphoric acid. This may result in supply chain disruptions and impact market expansion.

electronic grade phosphoric acid market Regional Insights

"North America to Dominate Market Due To The Increasing Use Of Electronic Devices "

Between 2022 and 2028, the electronic grade phosphoric acid market will be dominated by North America. Factors driving the market growth in this region include the increasing use of electronic devices in various industries, such as telecommunications, automotive, and healthcare.

Additionally, the market is anticipated to experience the fastest growth in European and Asian countries. The growing demand for renewable energy sources fuels market expansion.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

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. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Arkema (France)
• Solvay (Belgium)
• ICL Performance Products (U.S.)
• RIN KAGAKU KOGYO (Japan)
• Rasa Industries (Japan)
• Honeywell (U.S.)
• Hubei Xingfa Chemicals Group (China)
• Chengxing Group (China)
• Yunphos (Taixing) Chemical (China)
• Guangxi Qinzhou Capital Success PHOS-Chemical (China)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.