Electronic Grade Hydrofluoric Acid Market Predicted to Hit USD 694.1 million by 2031, with a 7.3% CAGR Growth: Transparency Market Research, Inc.

Electronic Grade Hydrofluoric Acids are critical for producing components such as electric motor coils, transformers, and inductors, which serve the growing green technology industry.

Wilmington, Delaware, United States, Feb. 23, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global electronic grade hydrofluoric acid market was projected to attain US$ 369.2 million in 2022. It is anticipated to garner a 7.3% CAGR from 2023 to 2031 and by 2031, the market is likely to attain US$ 694.1 million by 2031.

Electronic grade hydrofluoric acid is utilized as a starting material or intermediary in industrial chemistry, mining, refining, glass finishing, silicon chip production, and cleaning applications.

It is a potent, reactive, and corrosive chemical that interacts easily with acids, bases, and oxidants. Hydrofluoric acid's corrosive properties make it useful for glass and ceramic etching in electrical equipment.

Electronic grade hydrofluoric acid can be mixed with ammonium fluoride to clean wafers. This combination is used to clean silicon wafers in semiconductors, microelectronics, and solar cells.

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Key Findings of Market Report

  • Electronic grade hydrofluoric acid is generally 99.99% pure or greater.
  • Hydrofluoric acid is a dangerous substance for which several rules govern how hydrofluoric acid is handled, transported, and disposed of.
  • Manufacturers must follow these requirements to guarantee safe handling procedures and reduce environmental consequences.
  • Market vendors are implementing organic growth strategies to meet rising demand for fluorochemicals in a variety of industries, including agrochemicals, pharmaceuticals, and renewable energy.

Market Trends For Electronic Grade Hydrofluoric Acid

  • The electronics sector is rapidly developing due to increased demand for items such as computers, cellphones, TVs, and telecommunications equipment. The increase in manufacture of these electronic gadgets is driving the growth of the electronic grade hydrofluoric acid market.
  • Hydrofluoric acid is widely used in photovoltaic (PV) manufacture for quartz cleaning and wafer etching. It can assist to increase the contact resistance of a screen-printed silicon solar cell.
  • Hydrofluoric acid can be coupled with phosphoric acid treatments to serve as a failure analysis technique for screen-printed silicon solar cells on the manufacturing line and in the lab. The rapid usage of solar energy is expected to drive the electronic grade hydrofluoric acid market in the near future.

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Global Market for Electronic Grade Hydrofluoric Acid: Regional Outlook

Various reasons are propelling the growth of the electronic grade hydrofluoric acid market throughout the different regions. These are:

  • Asia Pacific accounted for the significant share in 2022. The regional market dynamics are being driven by increased raw material availability and consumer electronics usage.
  • Major electronic component makers are relocating their production bases to China and India due to the simple accessibility of raw materials and competitive labor cost in these countries. The strong presence of prominent OEMs and electronic component makers is also driving up the electronic grade hydrofluoric acid market share in Asia Pacific.
  • High purity hydrofluoric acid is often used to clean silicon wafers in microelectronics, semiconductors, and solar cells. The electronic grade hydrofluoric acid market in Asia Pacific is growing due to the simple access of raw materials in several of the region's nations.

Global Electronic Grade Hydrofluoric Acid Market: Key Players

The continuous research and development initiatives in the electronic grade hydrofluoric acid market landscape are predicted to allow manufacturers to create unique formulations that are more efficient for end users. Strategic alliances and mergers and acquisitions are helping firms build a significant market presence.

The following companies are well-known participants in the global electronic grade hydrofluoric acid market:

  • Solvay S.A.
  • Honeywell International Inc.
  • Morita Chemical Industries Co., Ltd.
  • Buss ChemTech AG
  • Zhejiang Sanmei Chemical Industry Co Ltd.
  • Zhejiang Kaisn Fluorochemical Co., Ltd.
  • Do-Fluoride Chemicals Co., Ltd.
  • Derivados del Flúor
  • Zhejiang Kaiheng Electronic Materials Co., Ltd.
  • Fujian Shaowu Yongjing Chemical Co., Ltd.
  • Shanghai Changhua New Energy & Technology Co., Ltd.
  • Advance Research Chemicals Inc.
  • KMG Chemicals, Inc.
  • Qshi Industry (Shanghai) Co., Ltd.
  • Xinxiang Yellow River Fine Chemical Industry Co., Ltd.
  • Stella Chemifa Corporation
  • Formosa Daikin Advanced Chemicals Co., Ltd.
  • LobaChemie Pvt. Ltd.
  • Qiaoli Chemical Industry Co., Ltd. (Sunlit Fluo & Chemical Co. Ltd.)

Few of key developments by the players in this market are:

  • In September 2023, Navin Fluorine Advanced Sciences Limited (NFASL), a fully owned subsidiary of Navin Fluorine International Limited, chose Buss ChemTech's Hydrogen Fluoride Production Technology for its new facility to be built in Gujarat, India.
  • In May 2023, Entegris, Inc., a major producer of sophisticated materials and process systems for the semiconductor and other high-technology sectors, signed a formal agreement for Fujifilm to buy Entegris' Electronic Chemicals division.

Global Electronic Grade Hydrofluoric Acid Market Segmentation

  • HF Concentration
    • <49%
    • =>49%
  • Purity
    • EL
    • UP
    • UPS
    • UPSS
  • Application
    • Solar Cells/Photovoltaics
    • Microelectronics
    • Semiconductors
    • Others
  • Region
    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East & Africa

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