Sales Revenue of Electronic Grade Phosphoric Acid Market to Receive a Fillip Owing to Burgeoning Demand During the Forecast Period

Market Introduction

High – purity phosphoric acid employed in electronics and microelectronics manufacturing is known as electronic grade phosphoric acid. Electronic grade phosphoric acid is mainly used in the manufacturing of semiconductors, thin film liquid crystal display panels and large scale integrated circuits, such as VLSI and ULSI, among others. Electronic grade phosphoric acid is prominently used in wafer etching and cleaning applications. The acidic properties of electronic grade phosphoric acid wash off the impurities from the metal surface, making the metal suitable for use in the electronics industry.

In terms of purity, >80% purity and 80% high purity electronic grade phosphoric acid finds application as an etchant and cleaning agent in the production of electronic wafers, which are further used to manufacture semiconductors. On the other hand, 80% purity electronic grade phosphoric acid. Developing countries of South Asia are anticipated to register a higher growth rate over the forecast period, due to the favorable conditions for emerging businesses and the higher ease of doing business index.

Global Electronic Grade Phosphoric Acid Market Noted to be Moderately Consolidated

The major players operating in the electronic grade phosphoric acid business vertical are focusing on adopting brownfield investment strategy in an attempt to reduce competition, enhance their market share as well as market presence. For instance, Merck KGaA acquired Sigma-Aldrich to strengthen the global reach of its products. Similarly, Avantor, Inc. acquired VWR Corporation. The backward integration business model adopted by Israel Chemicals Limited assists the company in maintaining low manufacturing costs pertaining to electronic grade phosphoric acid products. Cabot Microelectronics, too, follows a backward integrated business model in the electronic grade phosphoric acid marketplace, recently acquiring KMG Chemicals. Solvay SA has much recently ventured in the electronic grade phosphoric acid manufacturing and has been noted to adopt an organic growth strategy.

Key Trends

The supply and demand of electronic grade phosphoric acid in different regions depends on various macro-economic factors affecting the market. However, the production of electronic grade phosphoric acid mainly depends on the mining of phosphate rocks, which is stringently monitored by several environmental and government authorities. This hinders the continuous production of electronic grade phosphoric acid and may create supply-demand gaps in the future

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Key Players

Some of the players reported in the electronic grade phosphoric acid market study include Solvay SA, Arkema S.A., OCI Company Ltd, Israel Chemicals Ltd., Cabot Microelectronics Corporation, Merck KGaA, RIN KAGAKU KOGYO Co., Ltd., Taiwan Maxwave Co., Ltd., Asia Union Electronic Chemical Corp, SEMIAC Electronic Chemicals Co., Ltd., and Avantor, Inc., among others.

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