Electronic Grade Phosphoric Acid Market Detailed Analysis Application, Production, Top Players Growth, Forecast 2034

 According to a new report by Fact.MR, the global electronic grade phosphoric acid market is expected to reach US$ 1.36 billion in 2024. Global demand for electronic grade phosphoric acid is expected to grow at a CAGR of 7.7% during 2034.

The industry is showing great growth and development with the ever-growing and developing electronics business. Electronic-grade phosphoric acid, with its high purity, is an important chemical in producing semiconductors and other electronic products. There is growing demand for electronic devices like smartphones, tablets, and laptops, which in turn is creating a demand for high-quality electronic grade phosphoric acid.

Market leaders are emphasizing research and development to improve the purity and quality of the product, which must comply with the high standards of the electronics sector. The market is also seeing technological developments in manufacturing technologies to maintain consistencies and reliability in the manufacturing of electronic grade phosphoric acid. With advancements in technology, the market is likely to see continued growth, which will be influenced by the constantly increasing need for advanced electronic products across the globe.

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https://www.factmr.com/connectus/sample?flag=S&rep_id=9941

Key Findings from Market Analysis

  • The world electronic grade phosphoric acid market is anticipated to grow at a CAGR of 7.7% during the period 2024-2034.
  • Worldwide sales of electronic grade phosphoric acid are approximated US$ 1.36 billion in 2024.
  • The market is anticipated to touch a value of US$ 2.85 billion during the 2034-end.
  • The North America electronic grade phosphoric acid market is anticipated to grow at a CAGR of 7.9% during the period 2024-2034.
  • Liquid crystal displays are likely to hold 31.5% market share in 2024.
  • East Asia is likely to hold 38.4% share in the global market by 2034.

"Widespread adoption of cutting-edge technologies like 5G and IoT driving demand for electronic grade phosphoric acid. Industry players are emphasizing R&D and sustainability strategies to address the changing industry requirements," states a Fact.MR analyst.

Major Companies Profiled in This Study

  • OCI Company Ltd.
  • Israel Chemicals Ltd.
  • Arkema
  • Solvay
  • Rasa Industries
  • Arkema
  • ICL Performance Products Chengxing Group

Market Developments

Companies are collaborating with each other by acquiring and merging with other companies. They are even introducing new products to become even stronger in their position and capture more market share.

In 2020, Clariant AG launched an innovative phosphate ester that provides outstanding performance as well as greater sustainability in metalworking fluid formulation. The product has broadened the company's product portfolio significantly.

OCP opened a new facility for the production of purified phosphoric acid in 2020 under its Euro Maroc Phosphore (EMAPHOS) subsidiary. This addition has essentially boosted the overall production capacity of the company.

Browse Full Report: https://www.factmr.com/report/electronic-grade-phosphoric-acid-market 

More Valuable Insights on Offer

Fact.MR's latest offering offers an impartial analysis of electronic grade phosphoric acid market in 2018 to 2023 and forecast statistics for 2024 to 2034.

The research sheds key details regarding the market in terms of grade (<80% purity, >80% purity) and application (semiconductors, liquid crystal displays, VLSI & ULSI), in six big regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).

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