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Ultra-Pure Water Market Global Analysis 2024: Demand, Applications, and Innovations
Ultra Pure Water Market
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According to The Business Research Company's, The ultra pure water market size has grown strongly in recent years. It will grow from $9.88 billion in 2023 to $10.8 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to semiconductor industry demand, electronics manufacturing, pharmaceutical and biotechnology applications, power generation, healthcare and laboratories.
The ultra pure water market size is expected to see rapid growth in the next few years. It will grow to $16.21 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to rising demand in electronics production, biopharmaceutical industry growth, increased power generation needs, advancements in healthcare and life sciences, environmental and regulatory standards. Major trends in the forecast period include expansion of the electronics industry, rapid growth in healthcare infrastructure, water recycling and reuse initiatives, growing awareness of waterborne diseases, market consolidation and strategic partnerships.
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Market Drivers and Trends:
The increased usage in the semiconductor manufacturing industry is driving the demand for the ultra pure water market. The semiconductor manufacturing industry refers to the sector that includes companies involved in the production of semiconductors, where electronic devices are assembled by a series of nanofabrication procedures carried out on the surface of substrates consisting of extremely pure single crystal silicon. Ultrapure water is required at every semiconductor industry's manufacturing stage. Processes and water treatment technologies are needed to treat intake water to high-quality levels to eliminate pollutants, minerals, microbes, and trace organic and nonorganic compounds. For instance, in March 2022, according to the annual report published by TSMC, a Taiwan-based semiconductor manufacturing company, stated that the company recorded an increase in water usage from 77,257,163 m3 in 2020 to 82,674,982 m3 in 2021. Therefore, the increased use of ultra-pure water in the semiconductor manufacturing industry will drive the growth of the ultra pure water market.
Technological Innovation is a key trend gaining popularity in the ultra pure water market. Advanced ultrapure water systems are critical components in various industries, including the manufacturing and semiconductor sectors. The removal of chemical impurities under these ultra-pure water systems are done through de-ionization (DI) and reverse osmosis. Recently, the market has witnessed the need for an EDI ultra-pure water system, an electrically powered water treatment method that removes ionized species from water by using electricity, ion exchange membranes, and resin. Major players operating in the ultra-pure water sector are focused on technological innovations to sustain their market position. For instance, in January 2021, Merck and Co., a US-based pharmaceutical company, launched Milli-Q EQ 7000 ultra-pure Water Purification System. The new Milli-Q EQ 7000 system generates consistent ultrapure water quality that is flexibly tailored to experimental needs. This sophisticated system provides a comprehensive qualification procedure, advanced data traceability, and precise TOC monitoring.
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Major Key Players of the Market:
General Electric Company, The Dow Chemical Company, Veolia Environnement S.A., 3M Company, Danaher Corporation, Nalco Water an Ecolab Company, Asahi Kasei Corporation, Human Corporation, Ecolab Inc., DuPont de Nemours Inc., Suez S.A., Sartorius AG, Pentair plc, Pall Corporation, Kurita Water Industries Ltd., Evoqua Water Technologies LLC, Organo Corporation, Paul Hartmann AG, Veolia Water Technologies Deutschland GmbH, Skan AG, Ovivo Inc., Osmoflo Holdings Pty Ltd., Applied Membranes Inc., Komal Water Industries, RODI Systems Corporation, EnviroFALK PharmaWaterSystems GmbH, Esau & Hueber GmbH, RULAND Engineering & Consulting GmbH, Aqua Solutions Inc., MembraPure GmbH, Labtec Services AG
Ultra Pure Water Market 2024 Key Insights:
• The ultra pure water market size is expected to see rapid growth in the next few years. It will grow to $16.21 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%.
• Surging Demand For Ultrapure Water Fueled By Semiconductor Manufacturing Industry
• Advancements In Ultra Pure Water Systems Propel Market Growth
• Asia-Pacific was the largest region in the ultra pure water market in 2023
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