Expanding Electronic Nitric Acid Market Predicted to Reach a Compound Annual Growth Rate (CAGR) of 5.8% by 2034
In the rapidly evolving landscape of high-tech industries, BASF SE and Evonik Industries have announced expansions in their production capacities for Electronic-Grade Nitric Acid (EGNA). This move aims to support the semiconductor industry's growth, particularly in Asia, where the market for EGNA is projected to reach USD 147.4 million by 2034.
EGNA plays a critical role in various sectors, including semiconductors, solar energy, and consumer electronics. In 2024, the semiconductor sector held a 51.2% share in the By Application segment of the EGNA Market, which was valued at USD 83.9 million.
In semiconductor manufacturing, EGNA is used for cleaning and etching silicon wafers, ensuring no contamination for creating reliable microchips. The growing demand for powerful chips powering 5G, AI, autonomous driving, and high-speed computing will continue to drive EGNA demand over the next decade.
Moreover, EGNA is essential in solar panel production, improving the efficiency of photovoltaic cells through the texturization process of silicon wafers. The growing photovoltaic sector, particularly in the Asia-Pacific region, has strengthened EGNA's dominance due to strict purity standards in solar cell production.
Asia Pacific leads the EGNA market with a 52.9% share, and in 2024, the market value in the region reached USD 44.3 million. Government-backed investments in semiconductor capacity expansions further strengthen the region's growth momentum in the EGNA market.
EL Grade, known for its ultra-high purity and reliability, is preferred in advanced semiconductor and precision electronics manufacturing. In 2024, EL Grade held a 47.9% share in the By Product Type segment of the EGNA Market.
In addition to semiconductors and solar energy, EGNA is also used in LCD panel manufacturing to clean and etch glass substrates, ensuring high-quality displays. Furthermore, it is used to etch copper on Printed Circuit Boards (PCBs), ensuring precise circuit patterns for producing reliable and compact electronics.
Lastly, EGNA is used in the healthcare industry to clean and prepare surfaces for medical devices, ensuring they meet strict hygiene standards in the growing healthcare industry.
The EGNA market is projected to grow at a Compound Annual Growth Rate (CAGR) of 5.8% from 2025 to 2034, reflecting the increasing demand for high-purity chemicals like EGNA in wafer cleaning and microfabrication, driven by rapid advancements in electronics, 5G infrastructure, electric vehicles, and photovoltaic manufacturing.
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