The global electronic grade sulfuric acid market size is projected to grow from USD 300 million in 2019 to USD 415 million by 2024, at a CAGR of 6.7%. The demand is majorly driven by the rapidly growing electronic device market in the APAC region. Based on grade, the market is segmented into PPT (Parts Per Trillion) and PPB (Parts Per Billion). The PPT segment is expected to be the faster-growing grade during the forecast period. The PPT grade of electronic grade sulfuric acid is majorly used for cleaning and etching purposes of semiconductors and ICs owing to its high purity level. The rapid growth in semiconductors and IC manufacturing globally is expected to drive the demand for PPT grade of electronic grade sulfuric acid.
The PCB panels segment is projected to be the fastest-growing application of electronic grade sulfuric acid during the forecast period. PCB is an electronic circuit used in electronic devices to provide mechanical support. PCB panels find application in almost all electronic devices, including computers, TVs, smartphones, washing machines, coffee makers, and others. The demand for electronic grade sulfuric acid in PCB panel application is majorly driven by its increasing use in automotive, healthcare, industrial electronics, consumer electronics, maritime transport, aerospace & defense, and other industries.
BASF SE (Germany), INEOS Group Holdings S.A. (UK), Chemtrade Logistics (Canada), KMG Chemicals (US), Kanto Chemical Co., Inc. (Japan), Trident Group (India), The Linde Group (Ireland), PVS Chemicals (US), Reagent Chemicals (UK), and Moses Lake Industries (US) are the major players in the electronic grade sulfuric acid market.
