Electronic Grade Hydrofluoric Acid Market Size, Share | 2032
Electronic Grade Hydrofluoric Acid Market Size, Share | 2032
Segments - Electronic Grade Hydrofluoric Acid Market by Purity Level (High-purity, Ultra-high-purity, and Others), Application (Semiconductor Manufacturing, Solar Panel Production, Glass Etching, Chemical Synthesis, and Others), End-user (Electronics, Semiconductor, Photovoltaic (Solar), Chemical, Automotive, and Others), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2024–2032
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Report Description
Electronic Grade Hydrofluoric Acid Market Outlook 2032
The global Electronic Grade Hydrofluoric Acid market size was USD 1.9 Billion in 2023 and is projected to reach USD 3.2 Billion by 2032, expanding at a CAGR of 7.6% during 2024–2032. The market growth is attributed to the increasing demand for high-quality electronic components in various industries.
Electronic grade hydrofluoric acid (EGHF) is witnessing a rising demand due to its unique properties, especially in semiconductor manufacturing for etching and cleaning silicon wafers. Its high purity and precise composition make it indispensable in this sector. Moreover, the growing adoption of electronic devices, including smartphones, tablets, and computers, fuels the demand for EGHF as it is used in the production of integrated circuits and microchips, boosting the market.
Government regulations and standards emphasize the importance of EGHF in ensuring compliance with industry norms and environmental safety protocols. These regulations promote responsible manufacturing practices and environmental stewardship, further highlighting the significance of EGHF in various industries. The demand for high-quality EGHF is expected to grow steadily, as industries continue to innovate and advance technologically.
Impact of Artificial Intelligence (AI) in Electronic Grade Hydrofluoric Acid Market
Artificial intelligence AI is transforming the electronic grade hydrofluoric acid (EGHF) sector by enhancing operational efficiency and optimizing production processes. Through AI-powered analytics and predictive modeling, manufacturers reduce waste, improve product quality, and monitor critical parameters in real-time, leading to proactive maintenance and minimized downtime.
Moreover, AI-driven algorithms enable EGHF companies to make data-driven decisions, optimize supply chain logistics, and respond quickly to market demands. This technology helps in forecasting customer needs accurately, improving resource utilization, and staying competitive in the market.
Electronic Grade Hydrofluoric Acid Market Dynamics
Major Drivers
Increasing demand from the electronics industry is driving the market. This demand is primarily fueled by the rising production of electronic devices such as semiconductors, microchips, and displays, which require high-purity hydrofluoric acid for various manufacturing processes. For instance,
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In 2022, Sunlit Chemical unveiled a USD100 Million production facility focusing on high-purity hydrofluoric acid and other industrial chemicals vital for semiconductor manufacturing.
Growing adoption of electronic grade hydrofluoric acid in the pharmaceutical sector is fueling the market. The acid is widely used in pharmaceutical manufacturing for applications such as drug synthesis, and fluorination reactions, and as a catalyst in chemical processes, contributing to the market.
Surging demand from the solar panel industry is projected to propel the market. Solar energy generation has witnessed substantial growth globally, leading to increased demand for hydrofluoric acid for the production of photovoltaic cells, solar panels, and related components, driving the market.
Existing Restraints
Rising environmental concerns regarding the use and disposal of electronic grade hydrofluoric acid are expected to hamper the market. Stringent regulations and increasing awareness about environmental hazards associated with hydrofluoric acid production and usage lead to limitations in its adoption, impeding the market.
Scarcity of raw materials required for electronic grade hydrofluoric acid production is anticipated to restrain the market. The sourcing of high-purity raw materials for hydrofluoric acid manufacturing poses challenges, leading to supply chain disruptions and potential fluctuations in product availability, which impede the market.
Emerging Opportunities
Rising demand for electronic devices and semiconductor manufacturing is expected to create significant growth opportunities for the market in the coming years. The increasing adoption of electronic products such as smartphones, laptops, and tablets, coupled with advancements in semiconductor technologies, is projected to drive the demand for hydrofluoric acid in the electronics industry, presenting lucrative opportunities for market players.
Technological advancements in hydrofluoric acid production processes are anticipated to spur the market during the forecast period. Innovations in manufacturing techniques, such as improved purification methods and enhanced safety protocols, are expected to streamline production processes, reduce costs, and enhance product quality.
Scope of the Electronic Grade Hydrofluoric Acid Market Report
The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics are included in the report.
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Attributes |
Details |
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Report Title |
Electronic Grade Hydrofluoric Acid Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2023 |
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Historic Data |
2017 -2022 |
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Forecast Period |
2024–2032 |
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Segmentation |
Purity Level (High-purity, Ultra-high-purity, and Others), Application (Semiconductor Manufacturing, Solar Panel Production, Glass Etching, Chemical Synthesis, and Others), and End-user (Electronics, Semiconductor, Photovoltaic (Solar), Chemical, Automotive, and Others) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Daikin Industries Ltd.; Dongyue Group Limited; Honeywell International Inc.; Morita Chemical Industries Co., Ltd.; Navin Fluorine International Limited; Solvay S.A.; Stella Chemifa Corporation; Tanfac Industries Ltd.; and YingPeng Chemicals Co., Ltd. |
Regional Outlook
In terms of region, the global electronic grade hydrofluoric acid market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific held a major market share in 2023, due to the robust electronics manufacturing industry. Additionally, increasing demand for semiconductors, and growing investments in technology infrastructure are propelling the market in the region. For instance,
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In 2022, China retained its position as the foremost producer of fluorspar globally, contributing approximately 5 million tones, which represents over 55% of the total volume. Specifically, China's fluorspar mining production accounted for the majority, exceeding 5 million metric tons in the same year.
The market in North America is projected to grow at a significant pace during the forecast period, owing to the strong presence of key players in the electronics sector. Moreover, technological advancements and increasing investments in research and development for semiconductor manufacturing are expected to fuel the market in the coming years.
Electronic Grade Hydrofluoric Acid Market Segment Insights
Purity Level Segment Analysis
Based on purity level, the market is divided into high-purity, ultra-high-purity, and others. The high-purity segment held a major share of the market in 2023, owing to its extensive use in semiconductor manufacturing, electronics, and solar panel production due to its stringent purity standards and reliability.
The ultra-high-purity segment is expected to expand at a significant growth rate in the coming years, driven by the increasing demand for advanced electronic components with ultra-high purity requirements, especially in the semiconductor and microelectronics industries. Additionally, technological advancements in production processes are enhancing the segment.
Application Segment Analysis
On the basis of application, the global market is segregated into semiconductor manufacturing, solar panel production, glass etching, chemical synthesis, and others. The semiconductor manufacturing segment held the largest market share in 2023, attributed to the increasing demand for electronic devices, integrated circuits, and microelectronics across various industries. This surge in demand has driven the need for high-purity electronic grade hydrofluoric acid in the fabrication of silicon wafers and other semiconductor components, further fueling the segment.
The solar panel production segment is anticipated to generate the largest revenue share of the market during the projected period, due to the rising adoption of renewable energy sources and the expansion of the solar energy market globally. Electronic grade hydrofluoric acid plays a crucial role in the manufacturing process of photovoltaic cells used in solar panels boosting the segment.
End-user Segment Analysis
Based on end-user, the electronic grade hydrofluoric acid market is segmented into electronics, semiconductor, photovoltaic (solar), chemical, automotive, and others. The electronics segment led the market in terms of revenue in 2023, owing to the increasing demand for electronic devices and components across various industries. This demand is driven by technological advancements, consumer preferences for smart devices, and the growing trend of digitalization.
The photovoltaic (solar) segment is projected to register a robust growth rate during the assessment years, due to the expanding solar energy market globally. Countries and industries increasingly shifting toward renewable energy sources which has increased the production of solar photovoltaic cells for solar panels. Additionally, government initiatives and incentives promoting solar energy adoption fuels the segment.
Segments
The electronic grade hydrofluoric acid market has been segmented based on
Purity Level
- High-purity
- Ultra-high-purity
- Others
Application
- Semiconductor Manufacturing
- Solar Panel Production
- Glass Etching
- Chemical Synthesis
- Others
End-user
- Electronics
- Semiconductor
- Photovoltaic (Solar)
- Chemical
- Automotive
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Daikin Industries Ltd.
- Dongyue Group Limited
- Honeywell International Inc.
- Morita Chemical Industries Co., Ltd.
- Navin Fluorine International Limited
- Solvay S.A.
- Stella Chemifa Corporation
- Tanfac Industries Ltd.
- YingPeng Chemicals Co., Ltd.
Competitive Landscape
Key players competing in the global Electronic Grade Hydrofluoric Acid market are Daikin Industries Ltd.; Dongyue Group Limited; Honeywell International Inc.; Morita Chemical Industries Co., Ltd.; Navin Fluorine International Limited; Solvay S.A.; Stella Chemifa Corporation; Tanfac Industries Ltd.; and YingPeng Chemicals Co., Ltd.
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In January 2024, Tanfac Industries disclosed plans to double the capacity of its hydrofluoric acid plant, investing USD12.03 Million to reach 29500 MTPA.
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In 2023, NFASL, a subsidiary of Navin Fluorine International Limited, selected Buss ChemTech's hydrogen fluoride production technology for its upcoming facility in India.
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In 2021, TSMC introduced the first hydrofluoric acid waste regeneration system generating annual benefits of USD 12.55 Million.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Electronic Grade Hydrofluoric Acid Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Electronic Grade Hydrofluoric Acid Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Electronic Grade Hydrofluoric Acid Market - Supply Chain
4.5. Global Electronic Grade Hydrofluoric Acid Market Forecast
4.5.1. Electronic Grade Hydrofluoric Acid Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Electronic Grade Hydrofluoric Acid Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Electronic Grade Hydrofluoric Acid Market Absolute $ Opportunity
5. Global Electronic Grade Hydrofluoric Acid Market Analysis and Forecast by Applications
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Applications
5.2.2. Y-o-Y Growth Projections by Applications
5.3. Electronic Grade Hydrofluoric Acid Market Size and Volume Forecast by Applications
5.3.1. Semiconductor Manufacturing
5.3.2. Solar Panel Production
5.3.3. Glass Etching
5.3.4. Chemical Synthesis
5.3.5. Others
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Electronic Grade Hydrofluoric Acid Market Analysis and Forecast by End Users
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by End Users
6.2.2. Y-o-Y Growth Projections by End Users
6.3. Electronic Grade Hydrofluoric Acid Market Size and Volume Forecast by End Users
6.3.1. Electronics
6.3.2. Semiconductor
6.3.3. Photovoltaic (Solar)
6.3.4. Chemical
6.3.5. Automotive
6.3.6. Others
6.4. Absolute $ Opportunity Assessment by End Users
6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Electronic Grade Hydrofluoric Acid Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Electronic Grade Hydrofluoric Acid Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Electronic Grade Hydrofluoric Acid Demand Share Forecast, 2019-2026
8. North America Electronic Grade Hydrofluoric Acid Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Electronic Grade Hydrofluoric Acid Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Electronic Grade Hydrofluoric Acid Market Size and Volume Forecast by Applications
8.4.1. Semiconductor Manufacturing
8.4.2. Solar Panel Production
8.4.3. Glass Etching
8.4.4. Chemical Synthesis
8.4.5. Others
8.5. Basis Point Share (BPS) Analysis by Applications
8.6. Y-o-Y Growth Projections by Applications
8.7. North America Electronic Grade Hydrofluoric Acid Market Size and Volume Forecast by End Users
8.7.1. Electronics
8.7.2. Semiconductor
8.7.3. Photovoltaic (Solar)
8.7.4. Chemical
8.7.5. Automotive
8.7.6. Others
8.8. Basis Point Share (BPS) Analysis by End Users
8.9. Y-o-Y Growth Projections by End Users
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Electronic Grade Hydrofluoric Acid Demand Share Forecast, 2019-2026
9. Latin America Electronic Grade Hydrofluoric Acid Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Electronic Grade Hydrofluoric Acid Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Electronic Grade Hydrofluoric Acid Market Size and Volume Forecast by Applications
9.4.1. Semiconductor Manufacturing
9.4.2. Solar Panel Production
9.4.3. Glass Etching
9.4.4. Chemical Synthesis
9.4.5. Others
9.5. Basis Point Share (BPS) Analysis by Applications
9.6. Y-o-Y Growth Projections by Applications
9.7. Latin America Electronic Grade Hydrofluoric Acid Market Size and Volume Forecast by End Users
9.7.1. Electronics
9.7.2. Semiconductor
9.7.3. Photovoltaic (Solar)
9.7.4. Chemical
9.7.5. Automotive
9.7.6. Others
9.8. Basis Point Share (BPS) Analysis by End Users
9.9. Y-o-Y Growth Projections by End Users
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Electronic Grade Hydrofluoric Acid Demand Share Forecast, 2019-2026
10. Europe Electronic Grade Hydrofluoric Acid Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Electronic Grade Hydrofluoric Acid Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Electronic Grade Hydrofluoric Acid Market Size and Volume Forecast by Applications
10.4.1. Semiconductor Manufacturing
10.4.2. Solar Panel Production
10.4.3. Glass Etching
10.4.4. Chemical Synthesis
10.4.5. Others
10.5. Basis Point Share (BPS) Analysis by Applications
10.6. Y-o-Y Growth Projections by Applications
10.7. Europe Electronic Grade Hydrofluoric Acid Market Size and Volume Forecast by End Users
10.7.1. Electronics
10.7.2. Semiconductor
10.7.3. Photovoltaic (Solar)
10.7.4. Chemical
10.7.5. Automotive
10.7.6. Others
10.8. Basis Point Share (BPS) Analysis by End Users
10.9. Y-o-Y Growth Projections by End Users
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Electronic Grade Hydrofluoric Acid Demand Share Forecast, 2019-2026
11. Asia Pacific Electronic Grade Hydrofluoric Acid Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Electronic Grade Hydrofluoric Acid Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Electronic Grade Hydrofluoric Acid Market Size and Volume Forecast by Applications
11.4.1. Semiconductor Manufacturing
11.4.2. Solar Panel Production
11.4.3. Glass Etching
11.4.4. Chemical Synthesis
11.4.5. Others
11.5. Basis Point Share (BPS) Analysis by Applications
11.6. Y-o-Y Growth Projections by Applications
11.7. Asia Pacific Electronic Grade Hydrofluoric Acid Market Size and Volume Forecast by End Users
11.7.1. Electronics
11.7.2. Semiconductor
11.7.3. Photovoltaic (Solar)
11.7.4. Chemical
11.7.5. Automotive
11.7.6. Others
11.8. Basis Point Share (BPS) Analysis by End Users
11.9. Y-o-Y Growth Projections by End Users
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Electronic Grade Hydrofluoric Acid Demand Share Forecast, 2019-2026
12. Middle East & Africa Electronic Grade Hydrofluoric Acid Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Electronic Grade Hydrofluoric Acid Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Electronic Grade Hydrofluoric Acid Market Size and Volume Forecast by Applications
12.4.1. Semiconductor Manufacturing
12.4.2. Solar Panel Production
12.4.3. Glass Etching
12.4.4. Chemical Synthesis
12.4.5. Others
12.5. Basis Point Share (BPS) Analysis by Applications
12.6. Y-o-Y Growth Projections by Applications
12.7. Middle East & Africa Electronic Grade Hydrofluoric Acid Market Size and Volume Forecast by End Users
12.7.1. Electronics
12.7.2. Semiconductor
12.7.3. Photovoltaic (Solar)
12.7.4. Chemical
12.7.5. Automotive
12.7.6. Others
12.8. Basis Point Share (BPS) Analysis by End Users
12.9. Y-o-Y Growth Projections by End Users
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Electronic Grade Hydrofluoric Acid Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Electronic Grade Hydrofluoric Acid Market: Market Share Analysis
13.2. Electronic Grade Hydrofluoric Acid Distributors and Customers
13.3. Electronic Grade Hydrofluoric Acid Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. Daikin Industries Ltd.
13.4.2. Dongyue Group Limited
13.4.3. Honeywell International Inc.
13.4.4. Morita Chemical Industries Co., Ltd.
13.4.5. Navin Fluorine International Limited
13.4.6. Solvay S.A.
13.4.7. Stella Chemifa Corporation
13.4.8. Tanfac Industries Ltd.
13.4.9. YingPeng Chemicals Co., Ltd.
Methodology
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