The ultrapure water market share will post an incremental growth of USD 2.36 billion, progressing at a CAGR of 6% during the forecast period. The increase in semiconductor wafer size will offer immense growth opportunities to market vendors. The ultrapure water market is concentrated, and the vendors are deploying growth strategies such as low-pricing strategies and strengthening the local customer base to compete in the market.
Technavio’s report on “Ultrapure Water Market by End-user, Type, and Geography - Forecast and Analysis 2020-2024” provides a detailed market analysis of the prevalent market forces, trends, and challenges that are likely to impact the market in focus.
The ultrapure water market is segmented by end-user (semiconductors, power, healthcare, and others) and geography (APAC, North America, Europe, South America, and MEA).
The growth of the ultrapure water market in the semiconductors segment will be significant during the forecast period. The increasing number of IoT applications will lead to a significant rise in the production of silicon wafers, thereby increasing the demand for ultrapure water solutions.
By geography, 58% of the market's growth will originate from APAC during the forecast period. China, Taiwan, South Korea (Republic of Korea), and Japan are the key markets for ultrapure water in APAC. Factors such as facility expansion and the presence of leading electronic device manufacturers will have a considerable influence on the semiconductor equipment market in APAC.
The increase in semiconductor wafer size will directly influence the sales of the ultrapure water market. In addition, the rapid evolution in the microelectronics sector is one of the major ultrapure water market trends that will positively impact market growth. However, factors such as the (challenges) will hamper the ultrapure water market growth.
Some of the major ultrapure water market vendors are 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.
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
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Precise market size estimation during the forecast period 2020-2024.
CAGR of the ultrapure water market forecast during 2020-2024.
Market-level data on units, average selling prices, and values of the ultrapure water market share.
Prediction on the upcoming trends, drivers, and factors that challenge the growth of the ultrapure water market.
Ultrapure water industry growth across APAC, North America, Europe, South America, and MEA.
