Ultrapure Water Market by Equipment, Material, and Service (Filtration, Consumables/Aftermarket), Application (Washing Fluid, Process Feed), End-Use Industry (Semiconductor, Power, Pharmaceutical), and Region - Global Forecast to 2027
Ultrapure Water Market
The global ultrapure water market was valued at USD 8.0 billion in 2022 and is projected to reach USD 12.1 billion by 2027, growing at 8.6% cagr during the forecast period. The demand for ultrapure water industry is being driven by the increasing use of electronic devices such as smartphones, laptops, and tablets. To assure the quality and performance of the finished product, the electronics manufacturing process demands a high level of precision and cleanliness. Even minute amounts of pollutants in the water used for manufacturing can result in defects in the semiconductor or microchip, which can lead to product failures or malfunctions. Hence, the production of high-quality electronic devices requires ultrapure water, which has a relatively low impurity concentration.
Global Ultrapure Water Market Trends
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Ultrapure Water Market Dynamics
Driver: Increasing adoption of desalination technologies
Desalination is the process of removing salts and minerals from seawater or brackish water to make it suitable for human consumption or industrial use. The global water crisis has led to an increased focus on water recycling and reuse. Desalination has become an increasingly popular solution for meeting the world's growing demand for freshwater, and the demand for ultrapure water is also increasing. Ultrapure water is used in desalination as it is required to clean and maintain the various components of the desalination system, such as membranes and filters. Before the desalination process, seawater or brackish water is pretreated with ultrapure water.
Restraint: Limited availability of water resources
The limited availability of water resources can make it difficult to obtain the large volumes of water needed for ultrapure water production. Water scarcity can be a major problem in some places, and the sources of water that are available might be polluted with impurities like heavy metals and chemicals, which makes it difficult to produce high-quality ultrapure water.
Opportunity: Increasing installation of supercritical and ultra-supercritical coal power plants
Coal-fired power plants are the second-largest end user of ultrapure water. These power generation plants are being upgraded to supercritical and ultra-supercritical technologies across the globe. These advanced technologies require high-purity ultrapure water. This has opened a significant opportunity for the players in the ultrapure water market.
Challenges: Meeting high-standard requirements for nanotechnology
Nanotechnology is a relatively new technology that is now used on a large scale in the semiconductor and electronics industries. With nanotechnology chips becoming smaller in size, wafers washing is becoming a challenge. As wafers sizes become smaller, purity requirements are getting higher, which are difficult to keep. Thus, the biggest challenge for ultrapure water system developers is to cope with the requirements of advancing nanotechnology.
Ultrapure Water Market Ecosystem
By end-use industry, power is estimated to be the second-largest industry during the forecast period in the ultrapure water industry
Ultrapure water is an important component in power generation. The use of ultrapure water is critical in a number of applications, including steam generation, cooling water, and high-pressure boiler feed water. Ultrapure water is used as the primary feedwater source for the boiler in a power plant. Ultrapure water is further treated through a series of processes to remove any remaining impurities before it is fed into the boiler. In cooling tower systems, ultrapure water is frequently utilized as makeup water to make up for water lost to evaporation or drift.
Asia Pacific is projected to be fastest growing amongst other regions in the ultrapure water industry, in terms of value.
Asia Pacific is projected to be the fastest growing market for ultrapure water due to rapid industrialization in recent years, particularly in countries like China, India, and South Korea. This has led to an increase in demand for ultrapure water, which is used in various industrial processes such as semiconductor, pharmaceutical, and electronic manufacturing. Industries are increasingly using ultrapure water for high-precision manufacturing processes, research & development, and quality control.
Source: Secondary Research, Primary Interviews, and MarketsandMarkets Analysis
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Ultrapure Water Market Players
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. The ultrapure water industry report analyzes the key growth strategies, such as partnerships and acquisitions adopted by the leading market players between 2019 and 2022.
Ultrapure Water Market Report Scope
|
Report Metric |
Details |
|
Market Size Value in 2022 |
USD 8.0 billion |
|
Revenue Forecast in 2027 |
USD 12.1 billion |
|
CAGR |
8.6% |
|
Years considered for the study |
2018-2027 |
|
Base Year |
2021 |
|
Forecast period |
2022–2027 |
|
Units considered |
Value (USD Million/Billion) |
|
Segments |
Equipment, Material, and Service, Application, End-use Industry, and Region |
|
Regions |
Asia Pacific, North America, Europe, Middle East & Africa, and South America |
|
Companies |
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) are the key players in the market. |
This report categorizes the global ultrapure water market based on equipment, material, and service, application, end-use industry, and region.
On the basis of equipment, material, and service, the ultrapure water market has been segmented as follows:
- Filtration
- Consumables/Aftermarket
- Others
On the basis of application, the ultrapure water market has been segmented as follows:
- Washing Fluid
- Process Feed
On the basis of end-use industry, the ultrapure water market has been segmented as follows:
- Semiconductor
- Power
- Pharmaceutical
- Others
On the basis of region, the ultrapure water market has been segmented as follows:
- Asia Pacific
- Europe
- North America
- Middle East & Africa
- South America
Recent Developments
- In January 2023, Xylem announced the acquisition of Evoqua Water Technologies in an all-stock transaction valuing approximately USD 7.5 billion.
- In July 2022, Ovivo acquired Wastech Controls and Engineering, Inc., an automation solution provider in water and wastewater treatment. It will enhance the cross-selling opportunities for both companies.
- In December 2021, Ovivo and AquaAction renewed and strengthened their partnership to create an impact in the technology and innovation sector.
Frequently Asked Questions (FAQ):
What is the current size of the global ultrapure water market?
Global ultrapure water market size is estimated to reach USD 12.1 billion by 2027 from USD 8.0 billion in 2022, at a CAGR of 8.6% during the forecast period.
Who are the winners in the global ultrapure water market?
Companies such as 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). They have the potential to broaden their product portfolio and compete with other key market players.
What are some of the drivers in the market?
Growing demand in electronics and semiconductor industries drives the market.
Which segment on the basis of application is expected to garner the highest traction within the ultrapure water market?
Based on application, washing fluid segment held the largest share of the ultrapure water market in 2021.
What are some of the strategies adopted by the top market players to penetrate emerging regions?
The major players in the market use partnerships, and acquisitions as important growth tactics. .
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The study involved four major activities in estimating the market size of the ultrapure water market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, the market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources have been referred to for identifying and collecting information for this study. These secondary sources include annual reports, press releases, investor presentations of companies, white papers, trade directories, certified publications, articles from recognized authors, gold standard and silver standard websites, and databases.
Secondary research has been used to obtain key information about the value chain of the industry, monetary chain of the market, the total pool of key players, market classification and segmentation according to industry trends to the bottom-most level, and regional markets. It was also used to obtain information about the key developments from a market-oriented perspective.
Primary Research
The ultrapure water market comprises several stakeholders in the value chain, which include purification process, manufacturers, distributors, and end users/consumers. Various primary sources from the supply and demand sides of the ultrapure water industry have been interviewed to obtain qualitative and quantitative information. The primary interviewees from the demand side include key opinion leaders in end-use sectors. The primary sources from the supply side include manufacturers, associations, and institutions involved in the ultrapure water industry.
Primary interviews were conducted to gather insights such as market statistics, data of revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to equipment, material, and service, application, end-use industry, and region. Stakeholders from the demand side, such as CIOs, CTOs, and CSOs were interviewed to understand the buyer’s perspective on the suppliers, products, component providers, and their current usage of ultrapure water and future outlook of their business which will affect the overall market.
The breakdown of profiles of the primary interviewees is illustrated in the figure below:
To know about the assumptions considered for the study, download the pdf brochure
|
Company Name |
Designation |
|
Veolia |
Sales Director |
|
Ecolab |
Sales Manager |
|
Evoqua |
Director |
|
Asahi Kasei |
Marketing Manager |
|
Hydranautics |
R&D Manager |
Market Size Estimation
The top-down and bottom-up approaches have been used to estimate and validate the size of the ultrapure water market.
- The key players in the industry have been identified through extensive secondary research.
- The purification process of the industry has been determined through primary and secondary research.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
- All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
- The research includes the study of reports, reviews, and newsletters of the key market players, along with extensive interviews for opinions with leaders such as directors and marketing executives.
Ultrapure Water Market: Bottum-Up Approach
Note: All the shares are based on the global market size.
Source: Secondary Research, Interviews with Experts, and MarketsandMarkets Analysis
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Ultrapure Water Market: Top-Down Approach
Data Triangulation
After arriving at the total market size from the estimation process explained above, the overall market has been split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics for all the segments and sub-segments, the data triangulation and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides. Along with this, the market size has been validated by using both the top-down and bottom-up approaches and primary interviews. Hence, for every data segment, there have been three sources—top-down approach, bottom-up approach, and expert interviews. The data was assumed correct when the values arrived from the three sources matched.
Market Definition
Ultrapure water (UPW) is a type of water that has undergone extensive purification processes to significantly reduce pollutants and contaminants, making it appropriate for use in sensitive industrial and scientific applications. Due to the removal of the majority or all of its mineral ions, it is also occasionally referred to as deionized water.
Key Stakeholders
- Senior Management
- End User
- Finance/Procurement Department
- R&D Department
Report Objectives
- To define, describe, and forecast the size of the ultrapure water market, in terms of value
- To provide detailed information regarding the major factors (drivers, opportunities, restraints, and challenges) influencing the growth of the market
- To estimate and forecast the market size based on equipment, material, and service, application, end-use industry, and region
- To forecast the size of the market with respect to major regions, namely, Europe, North America, Asia Pacific, Middle East & Africa, and South America, along with their key countries
- To strategically analyze micromarkets with respect to individual growth trends, prospects, and their contribution to the overall market
- To analyze opportunities in the market for stakeholders and provide a competitive landscape of market leaders
- To track and analyze recent developments such as partnerships, and acquisitions in the market
- To strategically profile key market players and comprehensively analyze their core competencies
Available Customizations
Along with the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:
Regional Analysis
- Further breakdown of a region with respect to a particular country or additional application
Company Information
- Detailed analysis and profiles of additional market players
Generating Response ...
Growth opportunities and latent adjacency in Ultrapure Water Market