In 2023, it is predicted that the Ultrapure water Market would be worth US$ 8.8 billion. The 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.
Use of ultrapure water in the electronics sector would help in preventing the accumulation of impurities that could damage sensitive components. Semiconductor sector is one of the prominent end-use industries holding a significant share of around 55% of the global market in 2023.
Growing need for ultrapure water in the production of electronic components has increased with robust expansion of the electronics sector.
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 rising demand for electricity worldwide, 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, nanofiltration, 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 Ultrapure Water Market Study:
· The global market for ultrapure water is projected to witness a CAGR of 11.1% during evaluation period between 2023 and 2033.
· By 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 gallon 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 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 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 pharmaceutical, electronics, 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.
Merck Millipore, Pall Corporation, Suez Water Technologies & Solutions, Veolia Water Technologies, ELGA LabWater, Aqua Solutions, Evoqua Water Technologies, Media Analytics Ltd., Agilent Technologies, Biobase Biodustry, Bio-Rad Laboratories, Bruker Daltonics, Calgon Carbon Corporation, Hach Company, Nanostone Water, and Purolite Corporation are few of the manufacturers of ultrapure water profiled in the full version of the report.
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.
Get More Valuable Insights into the Ultrapure Water Market Report
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.