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South Korean Hydrogen Peroxide Market for Semiconductors Faces Shake-up as New Players Emerge

The South Korean hydrogen peroxide market for semiconductors, which has been dominated by Samyoung Sunhwa and Dongwoo Fine-Chem, could face significant changes as P&O Chemicals, Taekwang Industrial, and OCI explore new advances. As these firms consider entering the market, a reorganization of the sector is expected, resembling a period of warring states.

High-purity hydrogen peroxide is widely used in the semiconductor, display, paper, and textile industries, primarily for cleaning semiconductors and etching displays. Until recently, Samyoung Sunhwa and Dongwoo Fine-Chem controlled the market, supplying high-purity hydrogen peroxide to Samsung Electronics and SK Hynix. However, this oligopoly began to change last year when PNO Chemical, a joint venture between POSCO Chemical and OCI, started mass-producing high-purity hydrogen peroxide.

Taekwang Industrial, a synthetic fiber-focused firm, is also considering entering the market. The company has experience in mass-producing hydrogen peroxide for the textile industry and is expected to apply this expertise to high-purity hydrogen peroxide for semiconductors. Additionally, OCI, which has been supplying hydrogen peroxide to semiconductor companies through Dongwoo Fine-Chem, is contemplating direct supply, although it may consider its long-term collaborative relationship with Dongwoo Fine-Chem before making a decision.

As new suppliers potentially enter the market, the hydrogen peroxide market for semiconductors is expected to undergo significant changes. While customers will benefit from diversified options, existing suppliers like Samyoung Sunhwa and Dongwoo Fine-Chem could face shrinking margins. An industry insider noted that the demand for hydrogen peroxide is expected to increase as investment in domestic semiconductor facilities expands in the mid-to-long term.

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