Ultra-Pure Sulfuric Acid Market - Forecast(2023 - 2028)

In the pharmaceuticals industry ultra-pure sulfuric acid is used in the pharmaceuticals intermediary to make a variety of drugs in bulk quantities, as well as for research and development. The factors such as changing regulatory constraints, disruptive technology, and other reasons are pressuring pharmaceutical companies to accelerate innovation to increase efficiency and product quality. This has resulted in surging pharmaceuticals production in various regions. For instance, according to the Pharmaceutical Industry in Figures report published by the European Federation of Pharmaceutical Industries and Associations (EFPIA), in the year 2019, there was a growth of 54.43% in the total pharmaceutical production in France, which was €35.85 billion (US$40.95billion). Likewise, according to the Journal of the American Medical Association, demand for pharmaceuticals from public hospitals has increased globally since 2020. Azithromycin, Hydroxychloroquine, Corticosteroids, and Heparin have all climbed by 11.45 percent, 6.14 percent, 24.68 percent, and 49.05 percent, respectively, according to the report. Hence, the surging application of pharmaceuticals intermediary is expected to fuel the demand for ultra-pure sulfuric acid, which is driving the market growth. 

Federal Government Initiatives Regarding Semiconductor 

Ultra-pure sulfuric acid is employed in the manufacturing process of semiconductors because the use of ultra-pure sulfuric acid ensures lower photoresist, thereby ensuring higher durability and performance. The federal government is taking certain initiatives to surge the production of semiconductors. For instance, in June 2021, The U. S. government has taken the lead in fortifying America's semiconductor supply chains by making significant expenditures on U.S. chip manufacture and innovation. The United States government passed the United States Innovation and Competition Act (USICA) sweeping competitiveness legislation that contains US$ 52 billion to boost local chip manufacture, research, and design. The Japanese government planned to make an aggressive push to help domestic semiconductor companies expand globally, to increase their annual revenue to more than US$114 billion by 2030. Hence, such government initiatives will propel the production of semiconductors in the future, thereby, benefiting the market during the forecast period. Therefore, such government initiatives regarding surging the production of semiconductors are expected to propel the demand for ultra-pure sulfuric acid, which in turn is accelerating the market growth. 

Ultra-Pure Sulfuric Acid Market Challenges 

The production-related issues associated with the manufacturing process of ultra-pure sulfuric acid are restricting the market growth. The direct distillation of the raw material and industrial sulfuric acid at its boiling point to remove impurities produces challenges such as acid mist creation, pollution, control measures, high energy consumption, and higher operating costs. As a result of these production-related issues, new manufacturing methods are required to solve the aforementioned challenge, which is resulting in the addition of costs. Hence, such production-related challenges associated with ultra-pure sulfuric acid are posing a major restrain for the market growth of ultra-pure sulfuric acid during the forecast period. 

Ultra-Pure Sulfuric Acid Industry Outlook 

Technology launches, acquisitions, and increased R&D activities are key strategies adopted by players in the global Ultra-Pure Sulfuric Acid Market. Global ultra-pure sulfuric acid top 10 companies are: 

Recent Developments

Relevant Reports 

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