Dublin, March 20, 2023 (GLOBE NEWSWIRE) -- The "Global Hydrofluoric Acid Market by Grade (AHF, DHF (above 50% concentration) and DHF (below 50% concentration)), Application, and Region (Asia Pacific, North America, Europe, South America, Middle East & Africa) - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The market for hydrofluoric acid is approximated to be USD 3.4 billion in 2022, and it is projected to reach USD 4.5 billion by 2027 at a CAGR of 5.9%.
Out of three grades (AHF, DHF (Above 50% Concentration), and DHF (Below 50% Concentration), AHF has the largest market share because of it is used as a feedstock in the production of fluorocarbons. Apart from this, it is also used in the manufacturing of organic and inorganic fluorine compounds, and as a catalyst in oil refineries for alkylation processes. Rising urbanization, increasing income levels, improving living standards, which helps in rising the demands from various end-use industries such as electronic, semiconductor, etc., and helps in boosting the demand for AHF grade in the forecast period.
By Grade, AHF accounted for the highest CAGR during the forecast period
AHF stands for Anhydrous Hydrofluoric Acid, which is a clear, and colorless gas which is mainly produced the reaction of sulphuric acid with dry fluorspar in the Prereactor and this reaction is completed in an indirectly heated rotary kiln. This reaction is an endothermic reaction,which indicates the continuous requirement of the heat in order to complete the reaction. It is used as a main feedstock in the production of fluorocarbons which can be used in refrigeration systems. Rising urbanization, improving living standards, rising income levels, and others attributes to rise the demand of this grade in the forecast period.
By Application, Production of Fluorinated Derivatives segment accounted for the highest CAGR during the forecast period
Hydrofluoric acid is widely used in the manufacturing of fluorinated derivatives. It is used in the several applications such as, fluorine-containing compounds, such as fluorocarbons, fluoropolymers, and fluorinated solvents. These compounds are used in various end-use industries such as: electronics, automotive, and aerospace. However, the handling and storage of hydrofluoric acid can be hazardous, and appropriate safety measures must be taken to prevent accidental exposure. Rising income levels, improving living standards, and others, helps in fuelling the demand for hydrofluoric acid during the forecast period.
Asia Pacific is projected to account for the highest CAGR in the hydrofluoric acid market during the forecast period
The fastest-growing hydrofluoric acid market is expected to occur in the Asia Pacific region. The various countries which are covered in this region are India, China, Japan, South Korea, Taiwan and the Rest of Asia Pacific. Countries such as India, China, and Japan are expected to rise in the hydrofluoric acid market due to growing developmental activities and rapid economic expansion. In addition, rising urbanization in these countries results in growing demands for residential & non-residential structures, refrigeration systems, energy demands, and raises the demands for several end-use application segments such as electronic industries, semiconductor industry, and others which led to the growth of the hydrofluoric acid market in the forecast period.
Market Dynamics
Drivers
- Extensive Usage in Refrigerants, Hydrofluorocarbons, and Hydrofluoroolefins
- Rising Demand for Fluorine Compounds
- Increased Industrial Applications
Restraints
- Raw Material Price Fluctuations
- Stringent Regulations on Use of Fluorocarbon Refrigerants
Opportunities
- Use of Hydrofluoric Acid in Glass Etching & Cleaning Applications
Challenges
- Toxic and Hazardous Effects of Hydrofluoric Acid
- High Transportation Cost
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 201 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value (USD) in 2022 | $3.4 Billion |
| Forecasted Market Value (USD) by 2027 | $4.5 Billion |
| Compound Annual Growth Rate | 5.9% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Hydrofluoric Acid Market, by Grade
7.1 Introduction
7.2 AHF
7.2.1 Feedstock for Fluorocarbons
7.3 DHF (Above 50% Concentration)
7.3.1 Fluorinated Derivatives, Metal Pickling, and Fuel Additives)
7.4 DHF (Below 50% Concentration)
7.4.1 Glass Etching & Cleaning Applications
8 Hydrofluoric Acid Market, by Application
8.1 Introduction
8.2 Production of Fluorocarbons
8.3 Production of Fluorinated Derivatives
8.4 Metal Pickling
8.5 Glass Etching & Cleaning
8.6 Oil Refining
8.7 Uranium Fuel Production
8.8 Others
9 Hydrofluoric Acid Market, by Region
10 Competitive Landscape
11 Company Profiles
12 Appendix
Companies Mentioned
- Buss Chemtech Ag
- Daikin
- Derivados Del Fluor
- Dongyue Group Ltd.
- Fluorchemie Group
- Fluorsid S.P.A.
- Fubao Group
- Fujian Kings Fluoride Industry Co., Ltd.
- Fujian Shaowu Yongfei Chemical Co., Ltd.
- Gulf Fluor
- Honeywell International Inc.
- Jiangxi Chinafluorine Chemical Co., Ltd.
- Lanxess
- Merck KGaA
- Morita Chemical Industries
- Navin Fluorine International Limited
- Orbia
- Recent Developments
- Shandong Shing Chemical Co., Ltd.
- Shaowu Huaxin Chemical Co., Ltd.
- Soderec International
- Solvay
- Srf
- Stella Chemifa Corporation
- Yingpeng Group
- Zhejiang Sanmei Chemical IndCo., Ltd.
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