The United States is set to hold a significant position as a key country in the global ultrapure water industry in 2023. The country’s strong semiconductor sector, technological innovation, and diverse industrial applications are projected to influence the market. Adherence to quality standards and research & development activities are also estimated to drive the market.
In 2023, it is predicted that the market for ultrapure water will be worth US$ 8.8 billion. The Ultrapure Water Market is expected to show an 11.1% CAGR from 2023 to 2033. By the end of 2033, it’s predicted to produce a market size of US$ 25.2 billion.
The use of ultrapure water in the electronics sector would help prevent the accumulation of impurities that could damage sensitive components. The semiconductor sector is one of the prominent end-use industries holding a significant share of around 55% of the global market in 2023.
The growing need for ultrapure water in the production of electronic components has increased with the robust expansion of the electronics sector.
A significant increase in the consumption of ultrapure water from several end-use industries such as power generation and pharmaceuticals among others is another key factor driving growth.
Ultrapure water is used in power generation facilities for the production of steam, which is used to generate electricity. With the rising demand for electricity worldwide, the demand for ultrapure water in power generation is also increasing.
The ultrapure water industry is experiencing rapid technological advancements in water treatment, filtration, and purification techniques. Innovations such as reverse osmosis, nano-filtration, and ultraviolet (UV) disinfection systems have made it easier to achieve high levels of purity in water. These technologies are becoming more efficient and cost-effective, which is driving growth in the ultrapure water industry.
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Key Takeaways from this Market Study:
- The global market for ultrapure water is projected to witness a CAGR of 11.1% during the evaluation period between 2023 and 2033.
- By the delivery method, the on-site generation segment is expected to account for about 53.4% of the total share in 2023.
- Merck Group, General Electric, Veolia Water Technologies, Thermo Fisher Scientific, and Pall Corporation currently hold a share of 35% to 40%.
- By end-use industry, the semiconductor segment is estimated to consume around 136.7 billion gallons of ultrapure water in 2023.
- The global ultrapure water industry exhibited a CAGR of 4.6% in the historical period.
“The global market is expected to surge due to a shift toward sustainability and significant technological advancements in the water treatment process. It would also be propelled by the continued development of several sectors, particularly in emerging nations,” – says a lead analyst at Future Market Insights (FMI).
Competitive Landscape:
The market for ultrapure water is estimated to be a consolidated industry, where key players are expected to account for a significant share. They are focusing on the expansion of domestic production and technology areas of ultrapure water to provide cost-efficient solutions to consumers.
Manufacturers are also focusing on rapidly growing sectors such as pharmaceuticals, electronics, and semiconductors. They are aiming for rapid development and long-term presence in the market.
Several market participants are investing in the development of new products and innovation on the existing ones to develop high-end products to satisfy customers’ needs. These companies are also focusing on delivering innovative solutions while maintaining sustainable development to maintain their dominance across the globe.
For instance,
- Envirogen Group unveiled LabPure, a centralized, energy-efficient water purifying system, in January 2023. It is primarily produced for use in laboratories, where type 1 ultrapure water is required. It can combine continuous ultrapure water operation with an ownership cost based on tried-and-true RO-EDI technology.
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Scope of the Report
| Attribute | Details |
| Estimated Market Size (2023) | US$ 8.8 billion |
| Projected Market Valuation (2033) | US$ 25.2 billion |
| Value-based CAGR (2023 to 2033) | 11.1% |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Value (US$ billion) and Volume (billion gallons) |
| Market Segments Covered |
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| Regions Covered |
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| Key Countries Covered |
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| Key Companies Profiled |
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| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
Get More Valuable Insights:
In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the global ultrapure water market, providing historical data from 2018 to 2022 and forecast statistics for the period 2023 to 2033. To understand the global market potential, growth, and scope, the market is segmented based on delivery method (bulk delivery, packaged containers, and on-site generation), technology (reverse osmosis (RO), ion exchange (deionization), distillation, filtration, electrodialysis, and UV or ozone treatment), end-use industry (semiconductor, pharmaceuticals, biotechnology, laboratories, power generation, and food & beverage industry), and regions.
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About Future Market Insights, Inc. (FMI)
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The post Ultrapure Water Market Set to Skyrocket: Projected Worth of US$ 25.2 billion by 2033 Electronics Sector Drives Demand appeared first on Future Market Insights.
Published by: Future Market Insights, Inc.