Global Ultrapure Water (UPW) Resins Market Size (2023 – 2030)

In 2022, the Global Ultrapure Water (UPW) Resins Market was valued at USD 6.49 billion and is projected to reach a market size of USD 12 billion by 2030. Over the forecast period of 2023-2030, the market is projected to grow at a CAGR of 8%.

Industry Overview

The term "ultrapure water" (UPW) refers to water that has undergone a remarkable amount of filtering. In the semiconductor industry, the term "ultrapure water" is frequently used to emphasize how the water is blessed with the highest levels of purity for all impurity types, including dissolved gases, organic and inorganic mixtures, disintegrated and particulate issues, unstable and non-unpredictable, receptive and latent impurities, and unstable and non-unpredictable, receptive and latent, receptive and latent impurities. UPW and the more common term deionized (DI) water are not interchangeable. A typical UPW system includes three phases: a pre-treatment stage to give purged water, an important stage to additionally filter the water, and a cleaning stage, which is the most expensive component of the treatment cycle. UPW can remove natural particles and broken-down gases.

The semiconductor industry primarily makes use of ultrapure water. It is used in wafer manufacture, clean room procedures, and various cycles. The need for ultrapure water has increased due to the technological development of the semiconductor industry, which has led to higher unit prices for the industry. Therefore, the main consumers of ultrapure water are the manufacturers of semiconductor wafers. The growth of the electronics and semiconductor industries has positively impacted the market for ultrapure water overall. Ultrapure water is also extensively used in power-age workplaces, research labs, and the solar-powered photovoltaic industry, which is what is propelling the ultrapure water market. The role that ultrapure water plays in coal-fired power plants is crucial, which has increased interest in ultrapure water.

To meet the quality standards for different clients, ultrapure water is processed in various ways. Semiconductors, solar-based photovoltaics, pharmaceuticals, power age (sub and too-basic boilers), and strength applications, such as research labs, are some of the key end-users of UPW. Although "ultrapure water" is used by every business, the purity standards vary, therefore the UPW used in a drug plant may not be the same as that used in a semiconductor fab or a force station. The concepts relate to UPW usage. For instance, UPW is used as a cleaning agent in semiconductor factories, therefore it is important that the water not contain broken-up contaminants that can induce particles that may halt circuits and result in microchip failures.

Impact of Covid-19 on the industry

The market for ultrapure water suffered as a result of the current coronavirus outbreak.

The market has suffered significant financial setbacks as a result of the major interruptions in various manufacturing and supply-chain operations brought on by the various precautionary lockdowns imposed by governments to stop the spread of disease. The general economic condition of the majority of people has been severely damaged by the outbreak, therefore demand from consumers has reduced as they are now more focused on cutting non-essential expenses from their budgets. The aforementioned determinants will consider the market’s revenue trajectory over the projection period.

On the plus side, it is anticipated that the market will rebound when individual regulatory bodies start to ease these imposed lockdowns. The halted and postponed activities will continue, and as a result, the market is estimated to expand.

Market Drivers

Demand for Ultrapure Water in Electronics Drives Market Growth

The projection period's rising need for ultrapure water for cleaning small and delicate electronic equipment, such as semiconductors and wafers, will decide the market expansion of the ultrapure water sector. Process feed and washing fluids are two kinds of ultrapure water applications that are employed in a variety of industries, driving the expansion of the ultrapure water market. The molecular science sector's expanding need for cleanroom procedures and essential tools is assisting the market's potential growth throughout the forecast period.

Japan's Semiconductor Boom Drives Ultrapure Water Demand

Japan is the world's third-largest electronics manufacturing market and the fourth-largest export destination for American semiconductor manufacturing equipment, according to the International Trade Administration (ITA). The principal application for ultrapure water is in the semiconductor industry. It is used in a variety of applications, including the fabrication of wafers and clean rooms. The need for ultra-pure water of the highest quality has led to an increase in industry unit costs as the demand for semiconductors has grown technologically. Thus, the principal users of ultrapure water are companies that produce semiconductor wafers. The market for ultrapure water has greatly profited from the expansion of the semiconductor and electronics industries.

Market Restraints

High Standard Requirements will challenge the market growth

The ultrapure water used in semiconductor fabrication can lead to several problems. As system geometry reduces and becomes more complex, high aspect ratio nanostructures tend to collapse as a result of high-water surface tension during conventional aqueous cleaning and subsequent drying. High water resistance during wafer cleaning can result in watermarks on silicon surfaces, while high water responsiveness with oxygen and silicon can produce flow electrification. As a result, it's thought that the market for ultrapure water will suffer from the high standards required for developing nanotechnology. This will therefore hinder the rate of market expansion for ultrapure water.

GLOBAL ULTRAPURE WATER (UPW) RESINS MARKET REPORT COVERAGE:

This research report on the global ultrapure water (UPW) resins market has been segmented and sub-segmented based on application, and Geography & region.

Global Ultrapure Water (UPW) Resins Market- By Application

• Semiconductors

• Coal-Fired Power

• Flat Panel Display

• Pharmaceuticals

• Gas Turbine Power

The market is divided into Semiconductors, Coal Fired Power, Flat Panel Displays, Pharmaceuticals, and Gas Turbine Power based on application. Because of its usage of water in the fabrication process, the semiconductor industry is predicted to have the highest growth. Ultra-pure water is used in semiconductor manufacturing facilities as a cleaning agent since it must be free of precipitate or other particles that could damage microchips. In addition, semiconductor sales for October 2019 totalled over USD 36.6 billion. The second-largest industry, coal-fired power, is used as a process feed to increase efficiency.

Global Ultrapure Water (UPW) Resins Market- By Region

• North America

• Europe

• Asia-Pacific

• Latin America

• The Middle East and Africa

The Global Ultrapure Water Market is divided into North America, Europe, Asia Pacific, and the Rest of the World based on the regional analysis. During the projection period, Asia Pacific is anticipated to hold the greatest market share and dominate the ultrapure water industry. The market is expanding as a result of the coal-fired power industry's and the semiconductor industry's ongoing strong demand. Due to its large production, China is the world's top producer of ultrapure water, with Taiwan and South Korea coming in second and third, respectively, in terms of market demand. The two nations with the highest consumption of ultrapure water are Canada and the US.

Global Ultrapure Water (UPW) Resins Market- By Companies

1. Veolia

2. Suez

3. Evoqua

4. 3M

5. Kurita

NOTABLE HAPPENINGS IN THE GLOBAL ULTRAPURE WATER (UPW) RESINS MARKET IN THE RECENT PAST:

• Business Partnership: - In 2021, Haldor Topsoe and DOW declared their collaboration. Waste plastic will be transformed into circular plastics thanks to a partnership between Dow and Haldor Topsoe.

• Business Partnership: - In 2021, One of the biggest global producers of plastic, Dow Chemicals, and Mura Technology announced their alliance. To stop millions of tonnes of plastic and carbon from entering the environment each year and to produce the building blocks for a sustainable, circular plastics economy, the alliance will enable the rapid scaling of Mura's breakthrough HydroPRSTM technology.