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. The market research report presents a complete judgment of the market through strategic insights on future trends, ultrapure water market size, share, growth factors, supplier landscape, demand landscape, Y-o-Y growth rate, CAGR, pricing analysis.
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.
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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.
Driver: Rising Adoption of Desalination Technologies
Desalination involves the removal of salts and minerals from seawater or brackish water to make it suitable for human use or industrial applications. Due to the global water scarcity, there is growing emphasis on water recycling and reuse. Desalination is gaining popularity as a solution to meet the increasing global demand for freshwater. The need for ultrapure water is also on the rise, as it plays a crucial role in maintaining desalination systems by cleaning components such as membranes and filters. Ultrapure water is used during the pretreatment of seawater or brackish water before desalination.
Restraint: Scarcity of Water Resources
The shortage of water resources poses challenges in securing the substantial volumes needed for ultrapure water production. In areas facing water scarcity, available sources may be contaminated with heavy metals and chemicals, complicating the production of high-quality ultrapure water.
Opportunity: Growth in Supercritical and Ultra-Supercritical Coal Power Plants
Coal-fired power plants are the second-largest consumers of ultrapure water. As many power plants globally upgrade to supercritical and ultra-supercritical technologies, there is an increasing demand for ultrapure water to support these advanced systems. This trend presents a significant growth opportunity for companies in the ultrapure water market.
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Challenges: Meeting Strict Requirements in Nanotechnology
Nanotechnology, widely used in the semiconductor and electronics sectors, presents unique challenges as components like chips and wafers decrease in size. With smaller wafers, the need for higher purity levels in washing processes increases, making it difficult to meet stringent requirements. Keeping up with these evolving purity standards is one of the major challenges for ultrapure water system manufacturers.
“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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Ultrapure Water Market Trending key Players
Acquisitions and partnerships are the major growth strategies adopted by the key players in the market. 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.
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.
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.
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