Albany, NY -- (SBWIRE) -- 10/24/2018 -- Electronic grade hydrofluoric acid is a strong, reactive, and corrosive agent that readily reacts with acids, bases, and oxidants. The corrosive property of hydrofluoric acid is used for glass etching and ceramic etching in electronic devices. Electronic grade hydrofluoric acid is primarily used to clean silicon wafers in semiconductors, microelectronics, and photovoltaic cells. The electronics industry is expanding at a rapid pace owing to the rise in demand for products such as computers, smartphones, televisions, and telecommunication equipment. Increase in production of these electronic devices is anticipated to boost the electronic grade hydrofluoric acid market.
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According to the report by TMR, the global market for electronic grade hydrofluoric acid was valued at around US$ 290.0 Mn in 2017 and is anticipated to expand at a CAGR of around 7.0% from 2018 to 2026.
Rise in Demand for Semiconductors and Microelectronics to be Beneficial for Growth
On the basis of HF concentration, the electronic grade hydrofluoric acid market is segmented into less than 49% and greater than 49%. Of these, greater than 49% is dominating the global market for electronic grade hydrofluoric acid. This growth is attributable to the rise in concerns about the purity of electronic grade hydrofluoric acid is expected to adversely impact the electronic grade hydrofluoric acid market. =>49% concentration based electronic grade hydrofluoric acid is used in high-end applications such as IOT devices and artificial intelligence. Rise in demand for semiconductors and microelectronics applications in IOT devices and artificial intelligence is projected to boost the demand for =>49% concentration based electronic grade hydrofluoric acid.
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Ease in Availability of Raw Materials in the East Asia to Bolster its Growth
On the basis of region, the global electronic grade hydrofluoric acid market is segmented into North America, Europe, Asia Pacific, Latin America, and Rest of the World. Of these, Asia Pacific is the key region accounting for significant share of the electronic grade hydrofluoric acid market. Transition of companies operating in semiconductors and microelectronics industries from North America and Europe to East Asia is expected to boost the demand for electronic grade hydrofluoric acid in Asia Pacific. Major electronic component manufacturers shifted their production bases to East Asia owing to the ease in availability of raw materials and competitive labor pricing in the region. Demand for electronic grade hydrofluoric acid increased significantly in Asia Pacific in 2017 due to the strong presence of large OEMs and electronic component manufacturers in the region. Rapid industrialization in developing nations such as China, Japan, Taiwan, and South Korea is expected to drive the global electronic grade hydrofluoric acid market.