According to a recent study, The Electronic Grade Hydrofluoric Acid market is forecast to grow with a VAGR of 5% to 7% during the forecast period 2021-2031.
The increasing demand for hydro fluoro olefins (HFOs) and the increasing demand for fluorine compounds from several industries like steel aluminum, petroleum and pharmaceutical are the main factors driving the global market for hydrofluoric acids over the forecast period.
Hydrofluoric acid is a solution of hydrogen fluoride in water. It acts as an isotropic etching agent and is used for glass etching and ceramic etching in the manufacture of electronic components.
Electronic-grade hydrofluoric acid is a strong, reactive, and corrosive agent that readily reacts with acids, bases, and oxidants. It is widely used for the cleaning of silicon wafers in semiconductors, microelectronics, and photovoltaic cells.
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What is driving demand for Electronic Grade Hydrofluoric Acids?
A major trend identified in the global electronic-grade hydrofluoric acid market is the extensive use of the acid in the microelectronics sector on account of the rising demand and adoption of internet of things (IoT)- and artificial intelligence (AI)-enabled devices.
Companies across the globe are adopting IoT and AI solutions to increase productivity, make devices more efficient, and save operational costs. In addition, the rising demand for semiconductors from automotive companies for the manufacturing of self-driving cars is generating new revenue streams for the companies operating in the electronic-grade hydrofluoric acid industry.
Since hydrofluoric acid finds wide application in the semiconductor industry, the rising demand for products such as computers, smartphones, televisions, and telecommunication equipment is expected to boost the electronic-grade hydrofluoric acid market growth in the coming years.
Electronics to boost the Electronic Grade Hydrofluoric Acid Sales
Growth in the electronic-grade hydrofluoric acid market can be mainly associated with the expanding electronics industry and the rising demand for high-purity hydrofluoric acid. This is mainly facilitated by the growth in the usage of semiconductors and microelectronics in IoT and AI devices and photovoltaic cells.
Substantial use of semiconductors in smartphones, flat-screen monitors, LED TVs, autonomous cars, and civil aerospace and military systems would further drive the demand for electronic-grade hydrofluoric acid in the coming years. Thus, growth in the electronic industry is positively affecting the demand for electronic-grade hydrofluoric acid globally.
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APAC Electronic Grade Hydrofluoric Acid Market Outlook:
Asia-Pacific dominates the electronic grade hydrofluoric acid market with a share of more than 45% during the forecast period.
China is projected to be the fastest-growing market for hydrofluoric acid in Asia Pacific, followed by India and Japan due to numerous numbers of manufacturers. Due to massive demand from chemical and metallurgical industries and actively growing manufacturing base in APAC, it will propel the hydrofluoric acid market during the forecast period.
Europe and North America Electronic Grade Hydrofluoric Acid Market Outlook:
In us is it observed that the market for electronic grade hydrofluoric acid will reach more in next 10 years, Moreover, large manufacturers from North America and Europe are shifting their manufacturing base to the APAC region, owing to the easy availability of raw material, which, in turn, is driving the market for electronic-grade hydrofluoric acid in the region,
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Who are the Key Manufacturers and Suppliers of the Electronic Grade Hydrofluoric Acid?
Some of the leading manufacturers and suppliers of Electronic Grade Hydrofluoric Acid include
- Stella Chemifa Corp
- FDAC
- Honeywell
- Solvay (Zhejiang Lansol)
- Morita
- Sunlit Chemical
- Zhejiang Kaiheng Electronic Materials
- Do-Fluoride Chemicals
- Suzhou Crystal Clear Chemical
- Jiangyin Jianghua Microelectronics Materials
- Shaowu Fluoride
- Shaowu Huaxin
- Yingpeng Group
- Sanmei etc.
The COVID-19 outbreak has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global electronics industry also faced major disruptions such as supply chain issues, cancellation of technology events, and office shutdowns as a result of this outbreak. However the upside has been the increased demand for electronic devices in view of the remote working requirements, which became the norm during the pandemic and would be a key part of modern life going forward.