Global Hydrofluoric Acid Market Size By Product (Anhydrous and Diluted), By Application (Fluorocarbon and Metal Pickling), By Geography Scope And Forecast
Report ID: 330324|No. of Pages: 202
Global Hydrofluoric Acid Market Size By Product (Anhydrous and Diluted), By Application (Fluorocarbon and Metal Pickling), By Geography Scope And Forecast
Hydrofluoric Acid Market Size And Forecast
Hydrofluoric Acid Market size had a valuation of USD 3.13 Billion in 2022. We expect that the market will reach a valuation of USD 5.78 Billion by 2030, with an exceptional CAGR of 5.93% during the forecast period of 2024-2030.
The global Hydrofluoric Acid Market reported immense expansion due to rising industrial applications of fluorine-based compounds. With the rising stress levels in youngsters, Fluoxetine has also reported a massive surge in its prescription for depression and anxiety issues. Rising interest in personal hygiene is expected to boost the demand for Fluorosurfactants. The Global Hydrofluoric Acid Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
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Global Hydrofluoric Acid Market Definition
Hydrofluoric Acid is hydrogen fluoride in water, being the solvent. Due to the higher reactivity of fluorine, Hydrofluoric Acid is highly corrosive and can cause massive damage to most of the materials on contact. Thus, Hydrofluoric Acid is a primary ingredient when manufacturing fluorine-based compounds, such as fluorine-based surfactants, fluorochemicals, and fluoropolymers.
It is implemented in the manufacturing of pharmaceutical products such as Fluoxetine. Fluoxetine, commonly known as Prozac, is an antidepressant from the selective serotonin reuptake inhibitor class. It is also used for obsessive-compulsive disorder, panic attacks, and anxiety. Hydrofluoric Acid is also used for manufacturing Polytetrafluoroethylene, a generally used fluoropolymer.
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Global Hydrofluoric Acid Market Overview
The primary growth driver for the Hydrofluoric Acid Market is the rising applications and demand for fluorine-based products. Fluorine is used for manufacturing various compounds, such as fluorine-based surfactants, fluorochemicals, and fluoropolymers, having extensive applications across numerous industries. Fluorine-based surfactants or Fluorosurfactants are surfactants that have their hydrocarbon chain fluorinated, either completely or partially. These are used in correlation with cleaning products like cleaners, polishes, and waxes to improve their cleaning ability.
Fluorochemicals include pharmaceutical products such as Fluoxetine is an antidepressant that is prescribed for depression, panic attacks, and anxiety. It is one of the most used antidepressants on the market. However, the Hydrofluoric Acid Market is heavily impacted by the fluctuating prices of raw materials used for its manufacturing process. Besides these, many stringent regulations are being introduced against the use of fluorine-based products due to their impact on the ozone layer. These regulations are expected to pose a significant threat to the growth of the market.
Global Hydrofluoric Acid Market Segmentation Analysis
The Global Hydrofluoric Acid Market has distinct Segments Based on Product, Application, and Geography.
Hydrofluoric Acid Market, By Product
- Anhydrous
- Diluted
Based on the Product, we have segmented the global market for Hydrofluoric Acid is segmented into Anhydrous and Diluted. The anhydrous segment was slightly ahead of the diluted segment as it is preferred more in comparison to diluted Hydrofluoric Acid. Anhydrous Hydrofluoric Acid is commonly used for various products like surfactants, fluorochemicals, and fluoropolymers, which boost the growth of the anhydrous segment.
Hydrofluoric Acid Market, By Application
- Fluorocarbon
- Metal Pickling
Based on Application, the global market for Hydrofluoric Acid is segmented into Fluorocarbon and Metal Pickling. The fluorocarbon segment led the market growth due to their rising market demand. Fluorocarbons are extensively used in air conditioning systems and refrigerants which are in huge demand across the globe due to rising temperatures. Another reason behind the rising demand for fluorocarbons is them being an alternative to chlorofluorocarbons which are extremely detrimental to the ozone layer.
Hydrofluoric Acid Market, By Geography
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Based on Geography, the global market for Hydrofluoric Acid is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. The Asia Pacific region acquired the most robust position in the market due to its rapidly expanding consumer electronics sector. The consumer electronics industry in Asia is experiencing a surge in demand due to rising demand from consumers. Asia has cheap labor, a well-established supply chain, and a stable cost of raw materials.
Key Players
The “Global Hydrofluoric Acid Market” study report will provide a valuable insight with an emphasis on the global market. The major players in the market are Daikin, Dongyue Group, Sinochem, Yingpeng Chemical, Honeywell International Inc, Stella Chemifa Corp, Koura Global, Lanxess, and Solvay. This section offers in-depth analysis through a company overview, position analysis, the regional and industrial footprint of the company, and the ACE matrix for insightful competitive analysis. The section also provides an exhaustive analysis of the financial performances of mentioned players in the given market.
Key Developments
- In November 2022, Solvay partnered with Orbia to develop North America’s largest PVDF manufacturing plant.
- In March 2022, Daikin introduced a cutting-edge solution to reduce the company’s reliance on China and Japan for Hydrofluoric Acid and related products.
Ace Matrix Analysis
The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovator.
Market Attractiveness
The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Hydrofluoric Acid Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.
Porter’s Five Forces
The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Hydrofluoric Acid Market, gauge the attractiveness of a certain sector, and assess investment possibilities.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2019-2030 |
| BASE YEAR | 2022 |
| FORECAST PERIOD | 2024-2030 |
| HISTORICAL PERIOD | 2019-2021 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Daikin, Dongyue Group, Sinochem, Yingpeng Chemical, Honeywell International Inc, Stella Chemifa Corp, Koura Global, Lanxess, and Solvay. |
| SEGMENTS COVERED |
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| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. |
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• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
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Data Collection Matrix
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Industry Analysis Matrix
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