NEWARK, Del, Dec. 29, 2022 (GLOBE NEWSWIRE) -- According to Future Market Insights (FMI), demand for potassium fluoborate is estimated to reach US$ 439.2 Mn by the end of 2032. The potassium fluoborate market is expected to grow at a CAGR of 4.0% owing to consistent demand from end-use industries such as automotive, metal processing, oil & gas, and others.
Growth in the market is driven by rising demand for abrasives from the metal processing & automotive industry. Abrasives find a major role in the automotive industry, as these are used for polishing, grinding, cutting & other functions. Potassium fluoborate is water insoluble source of potassium & is used in oxygen-sensitive applications.
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Potassium fluoborate is employed in a variety of industries which demands different specifications such as purity. Nano-scale particles & with more than 99% purity are utilized in crucial applications. Also, these are utilized in the production of sodium fluoborate, and ammonium fluoborate, which are further used in agrochemicals. Hence, the market has a direct impact from the growth of these end-use industries.
“Growing consumption of potassium fluoborate coupled with increasing utilization of fluxing agents, soldering agents & abrasives in different end-use industries is expected to drive the market during the projected period,” said an analyst at FMI.
Key Takeaways from Potassium fluoborate Market Study
- Demand for potassium fluoborate is to witness a growth outlook of around 4.0% over the coming assessment period.
- Metal processing & abrasives is expected to remain key applications, accounting for more than 60% of the volume consumption.
- Abrasive is predicted to remain a key application segment and is expected to utilize potassium fluoborate at a rate of 4.9% over the forecast period.
- Adoption of new & advanced manufacturing technologies to produce a pure form of potassium fluoborate & expansion of production capacities are expected to remain the main key trends in the market.
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Competitive Landscape
The potassium fluoborate market is a consolidated market with the presence of some dominant key market players. These players are holding more than 50% of the market share. Some of the top manufacturers included in the research study are Solvay S.A., Morita Chemical Industries, Harshil Industries, Honeywell Fine Chemicals, AMG Aluminum, Madras Fluorine Ltd., Stella Chemifa Corporation, Triveni Chemicals, Skyline Chemicals, American Elements, PARTH INDUSTRIES, Foshan Nanhai Fluoride Chemical Co. Ltd., Derivados Del Flúor (DDF) and others are the some of the manufacturers of Potassium fluoborate profiled in the full version of the report.
Some of the notable key developments in recent years include increased production capacity and the introduction of new and improved manufacturing procedures.
Manufacturers are focusing on the launch of a new product line in purity form, as well as continued research and development to expand their product portfolio. Furthermore, industrial participants are focusing on developing manufacturing units to increase the core business.
Potassium Fluoborate Market Segmentation
By Purity:
- Less than 99% Purity
- 99% & above purity
By Grade:
- Technical Grade
- Reagent Grade
By End-use:
- Soldering Agent
- Metal Processing
- Abrasives
- Fluxing Agent
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product USPs / Features
4.3. Strategic Promotional Strategies
5. Global Market Demand Analysis 2017–2021 and Forecast, 2022–2032
5.1. Historical Market Volume (KT) Analysis, 2017–2021
5.2. Current and Future Market Volume (KT) Projections, 2022–2032
5.3. Y-o-Y Growth Trend Analysis
6. Global Market - Pricing Analysis
6.1. Regional Pricing Analysis
6.2. Pricing Breakup
6.3. Global Average Pricing Analysis Benchmark
About FMI – Chemicals and Materials
The Chemicals and Materials division of FMI offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on ‘green alternatives, recycling, renewable technology developments, and supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.
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