The ultrapure water market is projected to reach USD 12.1 billion by 2027, at a CAGR of 8.6% from USD 8.0 billion in 2022. Semiconductors are the biggest application of ultrapure water, where it is used in the washing of silicon wafers, which are the building blocks of microchips. The growth of the semiconductor industry is expected to fuel the growth of the market for ultrapure water in the coming years. There is scope for using ultrapure water in many applications where high purity is desirable to improve the efficiency of the product or the process.
The major drivers for the ultrapure water market are growing demand in electronics and semiconductor industries and the increasing adoption of desalination technologies. The limited availability of water resources is the major restraint in this market. Opportunities for the market include increasing investment for wafer washing in emerging economies.
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Ultrapure Water Companies
The key players in the ultrapure water market include Veolia (France), Asahi Kasei (Japan), Ecolab (US), DuPont (US), Evoqua Water Technologies (France), Ovivo Inc. (Canada), Organo Corporation (Japan), Hydranautics (US), Danaher Corporation (US), MANN+HUMMEL (Germany), Pentair (US), and Kurita Water Industries (Japan), among others. These companies are strong in their home regions and explore geographic diversification alternatives to grow their businesses. They focus on increasing their market shares through acquisitions and partnerships.
VEOLIA
Veolia is a global leader in environmental services, with a broad range of solutions for water, waste, and energy management. The company offers a range of services and technologies for ultrapure water production, which is essential for many high-tech industries, such as electronics, pharmaceuticals, and biotechnology. It provides a range of water purification systems, including reverse osmosis, electrodeionization, and ultrafiltration technologies, which are designed to remove impurities and contaminants from water and produce ultrapure water that meets industry standards. Its ultrapure water solutions are used by a wide range of industries, including semiconductor manufacturing, pharmaceutical, and biotechnology.
In April 2021, Veolia acquired SUEZ Water Technologies & Solutions which offers water and wastewater treatment services, with resilient and innovative solutions. This has helped the company increase its reach globally and strengthen its product and services portfolio.
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ASAHI KASEI
Asahi Kasei is a Japanese company that operates in various markets, including the ultrapure water market. The company provides solutions for the production, storage, and distribution of ultrapure water for a range of applications, including semiconductor manufacturing, pharmaceutical, and power generation. The company’s ultrapure water solutions include water treatment systems, ion exchange resins, membranes, and other products that help to remove impurities and contaminants from water.
“Filtration segment is projected to grow at fastest CAGR, in terms of value, during the forecast period.”
The filtration segment consisting of equipment and processing has the largest market share due to its high average selling prices. Increasing installations or upgrades of new water treatment plants/systems will also drive the filtration market.
“Process feed is projected to be the fastest growing application in the ultrapure water market, in terms of value.”
The consumption of ultrapure water as process feed is primarily driven by the necessity for increasing efficiency in power generation. Supercritical and ultra-supercritical are more efficient and economical in operations. Ultrapure water as process feed is also used in injectables and formulations in the pharmaceutical industry.
“North America is expected to be the second fastest growing market for ultrapure water during the forecast period, in terms of value.”
The North American market for ultrapure water is witnessing significant growth owing to the growing end-use industries, such as pharmaceutical, semiconductor, coal-fired power, and others. The US dominated the North American market, accounting for a share of 60.8% in 2021. Canada and Mexico, although they are small markets, have witnessed promising demand and are expected to grow in the near future.
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