Ultra-Pure Water Market

Ultra-Pure Water Market size is forecast to reach $11 billion by 2026, after growing at a CAGR of 7.6% during 2021-2026. Due to the increased use of ultrapure water in the production phase of wafers and clean room practices. Ultrapure water is used in the processing of wafers for washing, cleaning and itching of wafers. The demand for ultra-pure water is also growing in coal-fired power plants, since most of these have improved to a super-critical type along with new installations to meet increasing energy demand, especially in developing countries. High standards, however, set by advancing nanotechnology, is a factor that may hinder the growth of the global market for ultrapure water. Nevertheless, rising demand for ultra-pure wafer washing water, coupled with increasing wafer production in emerging economies, will generate high revenue opportunities for the global market players.

The COVID-19 pandemic is expected to intensify the adoption of digitalization. It is expected that networking and remote access functionality will become the trend. The launch of the 5G mobile network is expected to stimulate demand for semiconductor components, which in the microelectronics industry would have a positive effect on demand for ultrapure water.

Ultra-pure Water Market Segment Analysis - By End Use Industry

The semiconductors industry held the largest share in the ultrapure water market in 2020 and is growing at a CAGR of 7.8%, owning to the increasing use of ultra-pure water systems in clean room, wafer manufacturing and other processes. The need to have the highest grade of ultrapure water has dramatically increased the unit costs for the industry as technological developments in the semiconductor market have taken place. Thus, the future target customers for ultrapure water in the semiconductor market are multiple semiconductor wafer manufacturers. Semiconductor plants use ultra-pure water as a cleaning agent, so it is essential that the water does not contain dissolved pollutants that may precipitate or particles that may lodge in circuits and cause microchip failure. The Semiconductor Industry Association (SIA) announced that, for the month of October 2019, global sales of semiconductors amounted to USD 36.6 billion, a rise of 2.9 per cent from those seen in September 2019 (USD 35.6 billion). Hence, owing to the growing applications in the semiconductor industry, the demand for ultra-pure water is expected to increase over the forecast period.

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Ultra-pure Water Market Segment Analysis - By Geography

The Asia-Pacific region held the largest share in the Ultra-pure Water market5 in 2020, up to 30%, due to the high demand application from countries, such as China, India, and Japan. According to Electronic Industries Association of India (ELCINA), the total production of electronics sector in India was Rs.3,87,525 crore in 2017-18, compared to Rs.3,17,331 crore in 2016-17, exhibiting a growth of about 22%. According to the Singapore Economic Development Board (EDB), Singapore has one of the most diverse semiconductor industries in the Asia Pacific. The Chinese government has launched Made in China 2025 policy to increase the nation's self-sufficiency in integrated circuit production to 70% by 2025. Taiwan's purchasing of semiconductor equipment increased by 34% in 2019, hitting USD 3.9 billion, making it one of the leading markets in the region. These factors, coupled with government support, contribute to rising demand for the ultra-pure water market during the forecast period.

Ultra-pure Water Market Drivers

Growth in semiconductors industry and increasing application scope in various industries

Ultrapure water is primarily used in the semiconductor industry. It is used in clean room, wafer manufacturing and other processes. The demand for semiconductors has grown technologically, hence the need to have the highest grade of ultra-pure water has increased the unit costs for the industry. The key users of ultrapure water are therefore the semiconductor wafer manufacturers. Growth in the electronics and semiconductor industries has had a substantial positive effect on the ultrapure water market. According to the International Trade Administration (ITA), Japan is the third largest electronics manufacturing industry in the world and the fourth largest export market for semiconductor manufacturing equipment in the United States. According to China's National Integrated Circuit Development Outline, the Chinese government will make significant efforts to support the electronics industry, especially the IC manufacturing and design industry. Development of ICs in China will increase at an average annual pace of over 14 per cent by 2022. According to the United States International Trade Commission, gross exports of electronic goods rose by $7.9 billion (3 per cent) to $268 billion in 2017 in the United States. According to Invest India, the electronics and appliances industry in India is expected to be the fifth largest in the world by 2025. By 2025, India could build a $800 billion to $1 trillion digital economy, and India's digital economy could fuel 18-23% of overall economic activity by 2025. As a result, growth in the electronics sector is driving ultra-pure water market growth. Ultra-pure water is also commonly used in power generation plants, clinical research laboratories and the solar PV manufacturing industry, thereby driving the ultra-pure water market. In coal-fired power plants, ultrapure water plays a crucial role, thereby raising the demand for the ultrapure water market.

Ultra-pure Water Market Challenges

High standard requirements set by advancing nanotechnology

Ultrapure water can cause a number of serious problems in modern semiconductor production. With system geometry shrinking and becoming more complex, traditional aqueous cleaning and subsequent drying tends to collapse high aspect ratio nanostructures due to high water surface tension. High water resistance can cause flow electrification during wafer rinsing and high water responsiveness with oxygen and silicon can create watermarks on silicon surfaces. Therefore, high standards requirements, set by advancing nanotechnology is a factor that may hamper growth of the global ultrapure water market.

Ultra-pure Water Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Ultra-pure Water Market. Major players in the Ultra-pure Water market includes Asahi Kasei Corp., Danaher Corp., DuPont de Nemours Inc., Ecolab Inc., General Electric Co., Organo Corp., Ovivo Inc., Pentair Plc, SUEZ SA, and VEOLIA ENVIRONNEMENT SA among others.

Key Takeaways

Asia Pacific dominates the ultra-pure water market, owning to growing electronics industry and increasing demand for ultrapure water in semiconductor industry especially in countries such as China, Taiwan, South Korea. According to Invest India, India’s share in global electronics manufacturing has grown from 1.3% in 2012 to 3.0% in 2018.

Ultrapure water is also used in the power generation industry in pharmaceuticals, semiconductors, supercritical boilers and subcritical boilers. The increasing demand from research laboratories is another factor that supports global market development.

Moreover, increasing use of cleanroom practices to reduce contamination is a factor expected to fuel growth of the target market in the coming years.

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