Ultra-Pure Water Market Size Set to Experience a 10% CAGR Growth by 2030 as per Straits Research

Increasing the efficiency of the purification process through such an addition represents an opportunity for the ultrapure water market in the future.

New York, United States, Nov. 08, 2023 (GLOBE NEWSWIRE) — Ultra-pure water is water that meets stringent limits or specifications for biological organisms (including pyrogens, bacteria, and viruses), organic carbon, dissolved and suspended solids, and dissolved gases. Almost always, ultra-pure water is utilized in producing electronic components, optical components, and pharmaceuticals. According to the Straits Research, “The global ultra-pure water market size is envisioned to grow at a CAGR of 10% and reach USD 3,910 million during the forecast period.

Key Drivers

Ultrapure water is purified to the highest standards for all impurities, including organic and inorganic compounds, dissolved particulate matter, and dissolved gases. A single 8-inch silicon wafer, which serves as the base for approximately 100 chips, can consume up to 7,500 liters of water, of which two-thirds must be ultra-pure water. As a cleaning agent, ultra-pure water is utilized in semiconductor facilities. In turn, the rapid expansion of the semiconductor industry is driving the market demand for ultrapure water. In addition, as semiconductor manufacturers invest more in installing new manufacturing facilities and developments worldwide, the need for ultrapure water in producing semiconductors is expected to rise during the forecast period.

The pharmaceutical industry has a growing demand for ultrapure water, water treatment systems, and process equipment. Access to ultra-pure water is anticipated to increase because of technological advancements such as membrane separation, irradiation, nanoparticle diagnosis, bioaugmentation, and hybrid technology; this will result in the expansion of small and medium enterprise (SME) roles in the pharmaceutical industry, especially in cities of populous nations such as India and China.

Growth Opportunities

Membrane distillation (MD) is an emerging membrane separation technique that has the potential to convert aqueous solutions containing a high concentration of suspended substances into ultrapure water. The membranes play a minimal role in the separation process, another advantage of membrane distillation. Consequently, membrane distillation can be indispensable to the conventional method of producing ultrapure water.

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Regional Insights

Asia Pacific will command the market with the largest share while growing at a CAGR of 11% throughout the forecast period. The region’s nation, China, has the world’s second-largest pharmaceutical market. In addition, as part of the ambitious “Made in China 2025” initiative, Chinese officials have set a goal for the semiconductor industry to produce USD 305 billion by 2030 and meet 80% of domestic demand.

North America will grow at a CAGR of 9.5% during the forecast period. In terms of size, the US electronics market is the largest in the world and one of the most promising areas for the market for ultra-pure water. Due to the use of advanced technology, the increase in research and development centers, and the rising consumer demand, it is also expected to remain one of the leading markets over the forecast period.

The US is also one of the world’s largest semiconductors producers. The semiconductor industry is the third-largest in the United States, following the pharmaceutical and biotechnology industries. America represents 47% of the global semiconductor sales market. The United States holds a 61% market share in the category of logic products. In contrast, semiconductors manufactured in the United States account for 63% of analog products. The rising demand for semiconductors will likely drive the ultra-pure water market in the country, contributing to the region’s market share.

Key Highlights

  • Asia Pacific will command the market with the largest share while growing at a CAGR of 11%.
  • Based on application, the cleaning segment is expected to grow at a CAGR of 10.31% and hold the largest market share throughout the forecast period.
  • Based on the end-user industry, the semiconductor segment is expected to grow at a CAGR of 10.28% and hold the largest share during the forecast period.

Competitive Players in the Market

  • 3M
  • Applied Membranes Inc.
  • DuPont
  • Evoqua
  • Komal Water Industries
  • Kurita Water Industries Ltd
  • Nalco
  • Organo Corporation
  • Ovivo
  • Pentair PLC
  • RODI Systems Corporation
  • SUEZ
  • Veoli

Market News

  • In 2022, Evoqua announced a definitive agreement to acquire privately-held Smith Engineering Inc. 
  • In 2022, Evoqua opened a new manufacturing unit based in Singapore that will help further the company’s investment in the Asia Pacific.

Global Ultra-Pure Water Market: Segmentation

By Application

  • Cleaning
  • Etching
  • Ingredient
  • Other Applications

By End-User Industry

  • Semiconductor
  • Pharmaceuticals
  • Power Generation
  • Other End-user Industries

By Region

  • Asia Pacific
  • Europe
  • North America 
  • South America 
  • Middle East & Africa

Get Detailed Market Segmentation @ https://straitsresearch.com/report/ultra-pure-water-market/segmentation 

About Straits Research Pvt Ltd.

Straits Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt Ltd. provides actionable market research data, specially designed and presented for decision making and ROI.

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Originally published at https://www.einpresswire.com/article/667138946/ultra-pure-water-market-size-set-to-experience-a-10-cagr-growth-by-2030-as-per-straits-research

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