Report

Global Hydrofluoric Acid Market Size study, by Grade (Anhydrous, Diluted) by Application (Fluorocarbon, Fluorinated Derivatives, Metal Pickling, Glass Etching, Oil Refining, Others) and Regional Forecasts 2022-2028

  • Publish Date: Jun,2022
  • Report ID: QI037
  • Page : 250
  • Report Type : PDF (Email)
Global Hydrofluoric Acid Market is valued approximately USD 992 million in 2021 and is anticipated to grow with a healthy growth rate of more than 5.2 % over the forecast period 2022-2028. Hydrofluoric acid is frequently used in the chemical industry to make fluorides, fluoropolymers, and fluorocarbons, among other fluorine-based products. Purified fluorspar is heated with concentrated sulfuric acid to produce the product. It is then cooled and dissolved in water to form a condensate. Furthermore, because it is strongly reactive to glass and moderately reactive to metals, it is commonly employed in plastic containers. It is sold in a variety of packaging options, including drums, IBCs, and jerrycans, depending on the customer's quantities and demands. These containers are constructed to the greatest safety requirements and provide customised services. The growth can be ascribed to increased product usage in a variety of end-use applications, including refrigerants, metals, fluorocarbons, aluminum, plastics, and oil refining. Furthermore, throughout the forecast period, rising need for high-grade acids is expected to drive product demand. Because of their high quality, hydrofluoro-olefins and hydrofluorcarbons are also widely employed in refrigerants around the world. HCFCs have already been phased out in Europe, and they are being phased out in North America. According to the Montreal Protocol, non-article 5 parties must phase out HCFCs by 2030, and article 5 parties must phase out HCFCs by 2040. As a result, alternatives with zero ODP are being used, such as HFCs and HFOs. As a result, fluorocarbon manufacturing is predicted to continue to be the most common use of hydrofluoric acid over the forecast period. It's also used to make aluminum fluoride, which is widely used in a variety of aluminum products. Hydrofluoric acid is becoming more popular in the fluorocarbon industry as a non-chlorinated alternative to ozone-depleting chlorofluorocarbons. It's widely utilized as a cleaning agent and etchant in stainless steel pickling in the semiconductor industry. However, strict regulations for the use of Fluorocarbons impedes the growth of the market over the forecast period of 2022-2028.

The key regions considered for the global Hydrofluoric Acid Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific had the greatest market share. This is due to the presence of multiple fluorocarbon factories around the region. Over the projection period, the industry is expected to be the fastest-growing market. China's increased need for metal, electronics, and semiconductors is having a beneficial impact on product demand. In addition, increased use in the national defence, industrial, and civil production industries is predicted to drive market expansion.

Major market player included in this report are:

Daikin

Dongyue Group

Sinochem

Yingpeng Chemical

Honeywell International Inc.

Stella Chemifa Corp.

Koura Global

Lanxess

Solvay

Mexichem

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Grade:

Anhydrous

Diluted

By Application:

Fluorocarbon

Fluorinated Derivatives

Metal Pickling

Glass Etching

Oil Refining

Others

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019, 2020

Base year - 2021

Forecast period - 2022 to 2028

Target Audience of the Global Hydrofluoric Acid Market in Market Study:

Key Consulting Companies & Advisors

Large, medium-sized, and small enterprises

Venture capitalists

Value-Added Resellers (VARs)

Third-party knowledge providers

Investment bankers

Investors