Global Electronic Grade Hydrofluoric Acid Market Report and Forecast 2024-2032

Global Electronic Grade Hydrofluoric Acid Market Outlook 

The global electronic grade hydrofluoric acid market size is expected to grow at a CAGR of 5.90% between 2024 and 2032.     

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News and Developments in the Market 

In May 2023, Vedanta Resources, a renowned mining company based in India, announced a collaboration with Foxconn, a Taiwanese electronic manufacturing company, to develop semiconductor and display product plants worth $20 billion across India. Developments like these are likely to catapult the electronic grade hydrofluoric acid market growth in the forecast period. 

In January 2023, Sunlit Chemical, a Taiwanese semiconductor company, announced the development of the first phase of construction of its new electronic grade hydrofluoric acid facility in the United States. The new facility is aimed towards bolstering the supply chain of this product across the country. Sunlit Chemical is a prominent player in the global electronic grade hydrofluoric acid market. The 900,000-acre facility is likely to start the production of hydrofluoric acid by 2024.

In November 2021, Samsung Electronics announced that the company will be developing a brand-new semiconductor plant worth $17 billion in Texas, United States. Developments like these are likely to spearhead the sales of downstream products of semiconductors which are expected to support the market in the coming years. With the construction of this plant, the company will also aim at offering high-performance computing systems and 5G technology which is likely to lead the demand for semiconductor wafers, thereby, propelling the requirement for electronic grade hydrofluoric acid. 

In July 2021, SMM, a leading metallic information company based in China, announced the launch of a project, which will be aimed at building electronic grade hydrofluoric acid. The production capacity of the product will reach up to 30,000 tons and is likely to be utilised in the manufacturing of semiconductors. The increasing production capacity of electronic grade hydrofluoric acid to meet the demands of semiconductor industry is anticipated to provide impetus to the global electronic grade hydrofluoric acid market.

Thriving Semiconductor Industry, Growing Research and Development Activities, and Rapid Urbanisation are Key Trends in the Market

Electronic grade hydrofluoric acid, also known as high-purity hydrofluoric acid, refers to an isotropic wet chemical cleaning and etching agent which exhibits high reactivity with acids, bases, and oxidants. The compound is strong, reactive, and corrosive. In appearance, this compound is colourless and volatile. It is heavily deployed in the electronics industry. 

• Electronic grade hydrofluoric acid is widely utilised in the semiconductor industry for cleaning silicon wafers and etching the circuits. In this regard, the thriving semiconductor industry owing the growing adoption of smart electronic devices is a key trend in the global electronic grade hydrofluoric acid market. 

• The growing research and development activities by the key electronic grade hydrofluoric acid manufacturers aimed towards deriving more efficient formulations of the product to improve the output across the end use industries are likely to be the major trends in the market. 

• The rapid urbanisation, increasing standard of living, aggressive branding and promotion by the major electronic equipment manufacturers, and steady economic growth of the developing countries are some key trends propelling the growth of the global electronic grade hydrofluoric acid market.

Expansion of Semiconductor Manufacturers and Heightened Demand for Microelectronics to Pose Opportunities for the Market 

Expansion of Semiconductor Manufacturers

The ongoing trade war between strong economies such as Japan and South Korea is leading to the expansion of a vast number of semiconductor manufacturers. This expansion will also encourage domestic semiconductor manufacturers to gain long-term stability. Therefore, this trade war is likely to offer lucrative opportunities to the global electronic grade hydrofluoric acid market in the coming years. 

Heightened Demand for Microelectronics

The heightened demand for microelectronics owing to the rapid development of portable media devices is anticipated to offer lucrative opportunities for the market. In addition, the anticipated increase in demand for microelectronics in various industrial processes owing to robust industrialisation across the world is likely to provide further impetus to the growth of the market in the forecast period.  

Technological Advancements in the End Use Sectors

The technological advancements in the end use industries such as healthcare, electrical and electronics, and automotive, among others are likely to increase the dependence on electronic grade devices to achieve goals such as real-time monitoring, navigation, and data analysis, among others. This will lead to a greater adoption of semiconductor-wafer-based electronic systems, which is anticipated to spearhead the global electronic grade hydrofluoric acid market in the coming years. 

Geopolitical Tensions and Lack of Technological Penetration to Challenge the Market Growth

Geopolitical Tensions

The increasing geopolitical tensions across the world, such as the Russian invasion of Ukraine, has led to a destruction of semiconductor wafer manufacturing plants which is posing as a challenge in the global hydrofluoric acid market. 

Lack of Technological Penetration

The lack of technological penetration and slow growth of infrastructure across the under-developed countries is hindering the adoption of end use products of electronic grade hydrofluoric acid such as electronic items and solar cells. 

Market Analysis 

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Based on product, the electronic grade hydrofluoric acid market can be segmented into UP grade, UP-S grade, UP-SS grade, and EL grade, among others. Based on application, it can be segmented into solar cells/photovoltaic, microelectronics, semiconductors, and glass product, among others. The regional markets for the electronic grade hydrofluoric acid can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa. 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter’s five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global database management system (DBMS) market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans. 

• Stella Chemifa Corporation

• Formosa Daikin Advanced Chemicals Co., Ltd.

• Solvay S.A.

• Morita Chemical Industries Co., Ltd.

• Zhejiang Kaisn Fluorochemical Co., Ltd.

• Others

UP Grade, UP-S Grade, UP-SS Grade, and EL Grade Hydrofluoric Acid are the Major Products in the Market 

With a boiling point of 112.2℃, EL grade hydrofluoric acid is obtained as an aqueous solution with an unpleasant odour. The colour of this solution can be transparent or faded yellow. The product plays a crucial role in the procurement of aluminium and uranium. In this regard, the rising demand for aluminium in various end use industries such as construction and automotive, is driving the segment’s growth. 

Meanwhile, the anticipated increase in demand for EL grade hydrofluoric acid in various countries for bolstering their nuclear technology is likely to spearhead the growth of electronic grade hydrofluoric acid market in the forecast period. Furthermore, the increasing application of EL grade hydrofluoric acid in the atomic energy industry to produce fluorine, is further propelling the demand for EL grade hydrofluoric acid in research laboratories and academic institutions. 

The UP grade segment is anticipated to register a steady growth in the market in the forecast period. UP grade hydrofluoric acid is widely used as a crucial chemical in manufacturing electronic equipment. In this regard, the increasing application of electronic equipment in the household, commercial, and industrial sectors is likely to accelerate the segment’s growth. Moreover, the heightened application of the product in solar PV industry is anticipated to provide impetus to the electronic grade hydrofluoric acid market.  

UP-S grade on the other hand, possesses minute amounts of chemical components such as chlorine sulphate, and lead, among others. It is considered toxic and injurious owing to its reactive properties. UP-SS grade is another important product of electronic grade hydrofluoric acid which is corrosive, sensitive, and reactive. It must not be crashed, damaged, and should not be exposed to rain or heat. 

Electronic Grade Hydrofluoric Acid to find Wide Applications in Solar Cells/Photovoltaic, Microelectronics, Semiconductors, and Glass Products  

The increasing applications of electronic grade hydrofluoric acid in photovoltaic cells to carry out quartz cleaning and wafer etching, is driving the segment’s growth. In addition to this, the increasing application of solar cells in electricity transmission systems and for charging batteries, is further propelling the market growth. 

Furthermore, the stringent policies of the government aimed towards enhancing the quality of photovoltaic panels are likely to provide impetus to this segment in the coming years which is likely to spearhead the global electronic grade hydrofluoric acid market growth. 

Meanwhile, electronic grade hydrofluoric acid is also a crucial component for etching glass products, which also holds a significant share in the market. In this regard, the heightening deployment of glass products in various end use industries such as construction and automotive, is bolstering the demand for electronic grade hydrofluoric acid. 

The rapid increase in the use of the product in semiconductor and microelectronic, owing to the robust digitalisation across the emerging economies is anticipated to lead to an increased production capacities of the major electronic grade hydrofluoric acid manufacturers in the forecast period. 

Asia Pacific Region Occupies a Substantial Share in the Electronic Grade Hydrofluoric Acid Market

In terms of regions, the Asia Pacific occupies a substantial share in the market. In this region, the market is being driven by strong footholds of major electronic equipment manufacturers. This is leading to strategic collaborations which are likely to encourage product innovations and further market growth. 

The thriving e-commerce industry across the emerging economies such as India and China, which is propelling the sales of consumers electronics, is a major driving factor of the electronic grade hydrofluoric acid market. Furthermore, it is expected that the market will be positively influenced by the easy availability of raw materials which is likely to lead to the expansion of manufacturing facilities of end use industries. 

North America, on the other hand, is anticipated to register a steady growth and is likely to account for a considerable share in the forecast period. The market is anticipated to be driven by the rising government investments towards research and development activities in fields such as aerospace and defence, and atomic energy, among others, which is generating a significant demand for semiconductor devices. Therefore, the anticipated rise in demand for semiconductor devices in the North America region is likely to garner the global electronic grade hydrofluoric acid market growth in the forecast period. 

The market in Europe appears promising owing to the growing expansion of the semiconductor industry which is fostering the demand for electronic grade hydrofluoric acid. In June 2023, government of Taiwan announced a collaboration with the European Union under which Taiwanese tech giants will construct new semiconductor manufacturing plants. Developments like these are anticipated to bolster the supply chain, expand opportunities, and generate a significant demand for electronic grade hydrofluoric acid in the region. 

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Competitive Landscape of Electronic Grade Hydrofluoric Acid Market

Stella Chemifa Corporation is a Japanese company which manufactures chemical and electronic products. The product portfolio of this company includes semiconductors, solar batteries, optical materials, and various type of reactive catalysts. 

Formosa Daikin Advanced Chemicals Co., Ltd. is a prominent player in the chemical industry which manufactures wide range of chemicals to be used as raw materials across various end use industries. Established in 1999, Formosa Daikin Advanced Chemicals Co., Ltd. produces approximately 20,000 tons of electronic grade hydrofluoric acid annually. 

Solvay S.A. is one of the leading chemical companies across the world. This company manufactures and markets various chemical, electronic, lighting, and healthcare products, among others, to supplement various end use industries. The number of working employees are 21,000+.

Morita Chemical Industries Co., Ltd. is a Japanese hydrofluoric acid manufacturing company. The product portfolio of the company includes general chemical products and specific chemical products which are used as raw materials across various industries. The company was established in the year 2003, and is headquartered in Osaka, Japan. 

Zhejiang Kaisn Fluorochemical Co., Ltd. was established in the year 2003 with and its parent company is Zhejiang Juhua Co., Ltd. The company is currently headquartered in Japan. Zhejiang Juhua Co., Ltd. specialises in fluorochemical compounds and invests in its research and development activities. 

Key Highlights of the Report