Rockville , April 11, 2024 (GLOBE NEWSWIRE) -- A new study by Fact.MR reveals that the global electronic grade phosphoric acid market is poised to reach US$ 1.36 billion in 2024. Global demand for electronic grade phosphoric acid is projected to increase at a CAGR of 7.7% through 2034.
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The market is exhibiting significant growth and evolution as the electronics industry continues to expand and advance. Electronic-grade phosphoric acid, a high-purity form of phosphoric acid, plays a crucial role in the production of semiconductors and other electronic components. Increasing demand for electronic devices, such as smartphones, tablets, and laptops, is driving the need for high-quality electronic grade phosphoric acid.
Key market players are focusing on research and development to enhance the purity and quality of the product, meeting the stringent requirements of the electronics industry. The market is also witnessing advancements in production technologies to ensure consistency and reliability in electronic grade phosphoric acid manufacturing. As technology continues to advance, the market is projected to exhibit sustained growth, driven by the ever-growing demand for sophisticated electronic devices worldwide.
| Report Attribute | Details |
| Value Projection (2034) | US$ 2.85 Billion |
| Growth Rate (2024-2034) | 7.7% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 25 Tables |
| No. of Figures | 132 Figures |
Key Takeaways from Market Study
- The global electronic grade phosphoric acid market is forecasted to expand at a CAGR of 7.7% through 2034.
- Global sales of electronic grade phosphoric acid are estimated US$ 1.36 billion in 2024.
- The market is projected to reach a value of US$ 2.85 billion by 2034-end.
- The North American market is projected to expand at a CAGR of 7.9% through 2034.
- Liquid crystal displays are estimated to account for 31.5% market share in 2024.
- East Asia is projected to account for 38.4% share of the global market by 2034.
“Widespread adoption of advanced technologies such as 5G and IoT fueling demand for electronic grade phosphoric acid. Market players are focusing on R&D and sustainability initiatives to meet the evolving industry needs,” says a Fact.MR analyst.
Key Companies Profiled in This Report
- OCI Company Ltd.
- Israel Chemicals Ltd.
- Arkema
- Solvay
- Rasa Industries
- Arkema
- ICL Performance Products Chengxing Group
Market Developments
Businesses are joining forces by merging and acquiring other companies. They are also launching new products to make their position stronger and grab a larger share of the market.
- In 2020, Clariant AG introduced an innovative phosphate ester that delivers exceptional performance and enhanced sustainability in the formulation of metalworking fluids. This product has significantly expanded the company's product portfolio.
- In 2020, OCP inaugurated a new facility for the production of purified phosphoric acid under its subsidiary Euro Maroc Phosphore (EMAPHOS). This expansion has effectively increased the company's overall production capacity.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the electronic grade phosphoric acid market for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on grade (<80% purity, >80% purity) and application (semiconductors, liquid crystal displays, VLSI & ULSI), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
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About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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