COVID-19 Impact & Recovery Analysis | Ultrapure Water Market 2020-2024| Increase in Semiconductor Wafer Size to Boost Market Growth | Technavio

The ultrapure water market is expected to grow by USD 2.36 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200729005347/en/

Technavio has announced its latest market research report titled Global Ultrapure Water Market 2020-2024 (Graphic: Business Wire)

Request challenges and opportunities influenced by COVID-19 pandemic - Request a free sample report of the ultrapure water market

Ultrapure water is widely used in the semiconductor industry for the cleaning of semiconductor wafers. According to estimates, for the existing 300mm fabs, 1.5-4.5 million gallons of ultrapure water is required per day. Over the years, the semiconductor industry has witnessed an increase in the size of silicon wafers. Players in the industry are focusing on the development of 450mm wafer technology, for which significant R&D is being carried out by several entities worldwide. The 450mm fabs will require 4.5-9 million gallons of ultrapure water per day, which is almost double the amount of ultrapure water used by 300mm fabs. Therefore, with the increasing semiconductor wafer size, the growth of the global ultrapure water market will accelerate during the forecast period.

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR43945

As per Technavio, the rise in global R&D expenditure will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.

Ultrapure Water Market: Rise in Global R&D Expenditure

Globally, the expenditure on R&D has been increasing over the past decade. In 2019, about USD 2.3 trillion was estimated to have been spent on R&D activities. This can be attributed to the surge in the number of research and testing facilities, especially in the pharmaceutical and biotechnology sector. This is leading to a rise in the demand for laboratory analysis techniques and equipment such as chromatography instruments, reagents, and other consumables. With the increase in research and development activities, the demand for ultrapure water will increase as it is extensively used in the validation of results. This trend will have a positive impact on the growth of the global ultrapure water market.

“Increasing demand for ultrapure water from the healthcare industry in emerging markets will further boost market growth during the forecast period”, says a senior analyst at Technavio.

Register for a free trial today and gain instant access to 17,000+ market research reports

Technavio's SUBSCRIPTION platform

Ultrapure Water Market: Segmentation Analysis

This market research report segments the ultrapure water market by end-user (semiconductors, power, healthcare, and others) and geography (APAC, North America, Europe, South America, and MEA).

The APAC region led the ultrapure water market in 2019, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to the strong presence of leading electronic device manufacturers in the region.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report

Some of the key topics covered in the report include:

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200729005347/en/