Global Hydrofluoric Acid Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
MarketResearch.biz delivers in-depth insights on the global hydrofluoric acid market in its upcoming report titled, “Global Hydrofluoric Acid Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2027”. the global hydrofluoric acid market is estimated to register a CAGR of XX.X% during forecast period 2017–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the hydrofluoric acid market, their financials, supply chain trends, products and related technological innovations, key developments, apart from current and future strategies, acquisitions & mergers, and market footprint. The global hydrofluoric acid market report has been segmented on the basis of grade, application, and region.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various reliable sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts, with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make more accurate and informed forecasts about the market scenario in future.
Hydrofluoric acid (HF), also known as fluorhydric acid and hydronium fluoride, is a solution of hydrogen fluoride with colorless appearance. It is a weak acid, and is highly corrosive, and toxic for individuals, as it can damage lungs and cornea of eyes permanently. It is produced by treatment of fluorite with concentrated sulfuric acid. It is used in various industries such as mining, chemicals, refining, silicon chip fabrication, and for other research purposes.
A major factor driving growth of the global market is increasing demand from chemical industries for production of hydrofluorocarbon (HFC) and hydrofluorolefin (HFO). Increasing use of HF in steel aluminum, petroleum, and pharmaceuticals industry is primarily expected to boost growth of the market. HF is also used for glass etching and metal removal in electronics industry. Increasing adoption of hydrofluoric acid in various chemicals industries, is another major factor expected to propel growth of the global market in the next coming years.
However, stringent government regulations and hazardous effects of the product are major factors restraining growth of the target market. In addition, uncertainty in supply of raw materials, can increase the prices of raw materials, resulting in escalation in price of hydrofluoric acid, which is expected to be a challenge for growth of the target market. Rising demand from glass etching and cleaning applications is an opportunity for the target market.
The Asia Pacific hydrofluoric acid market accounts for major share in terms of revenue in the global market and is expected to register highest CAGR in the next 10 years, owing to increasing demand from end-use industries in countries in the region. China is the major contributor for the market in Asia Pacific region. North America market is projected to grow at a significant rate during the forecast period. The market in Europe is expected to register a significant CAGR in the next 10 years. Moreover, the market in Middle East & Africa is estimated to register a CAGR of X.X% over the forecast period, followed by the market in Latin America.
Global Hydrofluoric Acid Market Segmentation:
Segmentation on the basis of grade:
Segmentation on the basis of application:
- Fluorocarbon production
- Fluorinated derivative production
- Metal pickling
- Glass etching and cleaning
- Others (oil refining, uranium fuel production, and electronics and semiconductor)
Segmentation on the basis of region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Honeywell International Inc.
- Daikin Industries, Ltd.
- Dongyue Group
- Mexichem S.A.B. de C.V.
- Sinochem Qingdao Co., Ltd
- YINGPENG GROUP
- Fluoride Chemicals Co., Ltd.
- Fluorchemie Group
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