The report "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", is projected to reach USD 12.1 billion by 2027, at a CAGR of 8.6% from USD 8.0 billion in 2022.

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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.

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“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.

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“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.

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.

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