The global Hydrofluoric Acid Market size is expected to reach USD 1.69 billion by 2030, according to a new study by Grand View Research, Inc. The market is estimated to witness a CAGR of 5.6% during the forecast years. Increasing the consumption of hydrofluoric acid in the production of fluorochemicals and fluorine components worldwide is likely to boost the demand over the forecast period. It is an aqueous form of hydrogen fluoride and is mainly used for industrial purposes, such as metal cleaning, glass etching, and electronics production among others. It is also used in home rust removers. There are mainly two grades of the product available in the market; anhydrous and diluted hydrofluoric acid. The demand for anhydrous hydrofluoric acid is rising as it is less toxic and provides better quality at low temperatures.
A rise in the production level of fluorochemicals in the
U.S. and Germany is further favoring the global demand. In the Asia Pacific
region, the increasing production of fluorocarbons and the presence of
large-scale manufacturers are expected to boost the market growth. The product
demand is anticipated to rise in India during the forecast period on the
account of the increasing production of aluminum and aluminum products wherein
hydrofluoric acid is a key raw material. The global market is highly fragmented
with the presence of numerous players in both developed and developing
economies. Key players are focusing on mergers and acquisitions to increase
their presence throughout the value chain. The majority of the industry players
are focusing on product advancements aiming at the development of new products
with eco-friendly characteristics to cater to a broader application market.
List of Key Players of Hydrofluoric Acid Market
- Daikin
- Dongyue
Group
- Sinochem
- Yingpeng
Chemical
- Honeywell
International Inc.
- Stella
Chemifa Corp.
- Koura
Global
- Lanxess
- Solvay
Request a free sample copy or view report summary: Hydrofluoric Acid Market Report
Hydrofluoric Acid Market Report Highlights
- The
anhydrous grade segment accounted for the largest share of the global
revenue in 2021 due to the rising demand in various applications, such as
surfactants, fluorochemicals, and metal cleaners among others
- Metal
pickling emerged as the fastest-growing application segment in 2021 and is
likely to witness a steady CAGR from 2022 to 2030 due to the high growth
in steel production in the past few years
- Fluorocarbon
emerged as the largest application segment in 2021 due to the increased
production levels across different countries including China, India, the
U.S., and Germany
- Moreover,
the rising demand for air conditioning and refrigerating systems is
expected to drive the segment
- Asia
Pacific is projected to witness the fastest CAGR over the forecast period
due to the abundance of raw material along with the presence of numerous
large-scale manufacturers
Hydrofluoric Acid Market Segmentation
Grand View Research has segmented the global hydrofluoric
acid market on the basis of grade, application, and region:
Hydrofluoric Acid Grade Outlook (Volume, Kilotons;
Revenue, USD Million, 2018 - 2030)
- Anhydrous
- Diluted
Hydrofluoric Acid Application Outlook (Volume,
Kilotons; Revenue, USD Million, 2018 - 2030)
- Fluorocarbon
- Fluorinated
Derivatives
- Metal
Picking
- Glass
Etching
- Oil
Refining
- Others
Hydrofluoric Acid Regional Outlook (Volume,
Kilotons; Revenue, USD Million, 2018 - 2030)
- North
America
- The
U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Italy
- Asia
Pacific
- China
- India
- Japan
- South
Korea
- Central
& South America
- Brazil
- Argentina
- Middle
East & Africa
- South
Africa
- Saudi
Arabia
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
No comments:
Post a Comment