According to the current detailed analysis of Reports and Data, the global Hydrofluoric Acid Market was valued at 4.39 USD Billion in 2019 and is expected to reach 6.77 USD Billion by the year 2027, at a CAGR of 5.6%. The increasing adoption of fluorine compounds across multiple industries is currently showing significant growth coupled with rising glass etching and cleaning applications proving as driving factors for the market. This market is likely to have modest growth with its drivers and restraints in place. Hydrofluoric Acid is produced by the treatment of fluorite with concentrated sulfuric acid. Various industries use it in mining, chemicals, silicon chip fabrication, pharmaceutical products, and agrochemicals. Fluorocarbons are the prominent types of refrigerants used globally are the largest application segment.
Fluorocarbons are the prominent segment and major refrigerants used across the globe and are divided into three more sub-segments such as HCFC, HFC, and HFO’s. Hydrofluoric acid is used as a precursor to producing several fluorinated derivates such as fluoride, fluoropolymers, and fluorosurfactants. The increase in production and the rise in demand for fluoride and fluoropolymers is expected to give a proper demand to the Hydrofluoric Acid market.
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The chemicals and materials industry produces a massive variety of products consumed by people across the world on a daily basis. While several products, namely detergents, perfumes, soaps, and others are bought directly by the consumers, the others are used as ingredients to make numerous products. For instance, in Europe, nearly 70% of the chemicals that are manufactured are used to make other products. The industry uses a wide range of raw materials ranging from oil, minerals, air, and others. With growing competition among industry players, innovation remains vital in discovering new paths to meet the needs of sophisticated, demanding, and environmentally conscious consumers.
The competitiveness within the chemical industry and among the chemicals, the chemical industry spends large amounts on research, particularly in the highly industrialized countries, which will foster market size in the coming years.
Industry players in the Hydrofluoric Acid market are adopting the strategy of forwarding integration to cater to increasing product demand and to enhance their footprint in the global market.
This market report provides details of new recent developments, import-export analysis, trade regulations, production analysis, value chain optimization, market share, analyses opportunities in terms of emerging revenue pockets, the impact of domestic and localized market players, changes in the market, trends, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. The report offers insights into key factors influencing the revenue growth of the segment and provides information about lucrative investment opportunities to stakeholders, investors, and clients.
North America is expected to dominate the global materials and chemicals market landscape during the forecast period owing to the strong presence of prominent industry players in this region.
APAC is projected to be the fastest-growing Hydrofluoric Acid market globally. The increasing manufacturing and export over the past years have led several global leading companies to not only make huge investments in the region’s chemical sector but also set up their own manufacturing sites to increase their presence in this emerging market.
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Top companies operating in the market and profiled in the report include Honeywell International, Solvay, Mexichem, YingPeng Chemicals, Dongyue Group, Do-Fluoride Chemicals, Dupont, Sinochem Group, Lantian Fluorchemie, Juhua Group (KAISN), SANMEI, Stella, Chemifa, ShaoWu, Daikin, Lanxess, and YongFei.
Hydrofluoric Acid Market Segmentation:
The report segments the Hydrofluoric Acid markets on the basis of product types, end-use industries, technology, and region.
Grade Type (Revenue in USD Million; Volume in Kilo Tons, 2017–2027)
Anhydrous Hydrofluoric Acid
Diluted Hydrofluoric Acid (Above 50% concentration)
Diluted Hydrofluoric Acid (Below 50% concentration)
Application (Revenue in USD Million; Volume in Kilo Tons, 2017–2027)
Fluorinated Derivative Production
Uranium Fuel Production
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