Hydrofluoric Acid Market Size, Share, Growth, Trends, and Forecast 2030

The global Hydrofluoric Acid market size accrued earnings worth approximately USD 3,405.88 Million in 2022 and is predicted to gain revenue of about USD 5,191.39 Million by 2030, is set to record a CAGR of nearly 5.41% over the period from 2023 to 2030.

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Global Hydrofluoric Acid Market: Overview

Hydrofluoric acid is a corrosive, inorganic compound with many commercial and industrial uses. Commercially, it is available either in water solutions of numerous concentrations or in a water-free state. Hydrofluoric acid at higher concentrations is a fuming liquid or a colorless gas. Hydrofluoric acid is also known as anhydrous hydrogen fluoride, fluorohydric acid, or hydrogen fluoride.

Global Hydrofluoric Acid Market: Growth Factors

The global hydrofluoric acid market is growing at a healthy rate. Factors such as growing use in industrial & home cleaners, rise in demand for the manufacturing of electronics, and increase in demand for hydrofluoric acid in oil refineries for the manufacture of high-octane fuels are the prime factors that are majorly driving the growth of the global market. Hydrofluoric acid has numerous applications such as solvents & propellants, production of fertilizer & insecticide, reduction & manufacture of chlorides, manufacture of semiconductors, drug and dye production. In addition to this, it is also extensively used in the brewery to control fermentation, in the leather industry for tanning, refining uranium for use as a nuclear fuel, and in the fabric industry for stain removal. In household uses, it is been used as heavy-duty cleansers, aluminum brighteners, and rust remover. Such a broad range of applications of hydrofluoric acid in the household as well as various industries has resulted in the huge demand for hydrofluoric acid. This is fostering the growth of the global hydrofluoric acid market.

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Moreover, the growing use of hydrofluoric acid for the production of synthetic cryolite and aluminum fluoride for aluminum refining is also spurring the growth of the global market. Furthermore, the growing use of hydrofluoric acid in glass etching and metal pickling is expected to propel the growth of the global hydrofluoric acid market during the forecast period. However, restricted export of fluorspar (raw material primarily used for the production of hydrofluoric acid) by China and strict regulations imposed on the use of hydrofluoric acid due to its hazardous nature are the major factors that may impede the growth of the global hydrofluoric acid market.

The global hydrofluoric acid market is been severely affected by the Covid-19 pandemic. The majority of the industries were standstill due to the strict rules of complete lockdown and restriction on movement. Hydrofluoric acid has several applications in numerous industries. Due to the shutdown of majority of its end-users, the demand for hydrofluoric acid decreased considerably. Also, disruption in the supply chain affected the production of hydrofluoric acid during the pandemic. All these factors affected the overall market growth and the impact is expected to be observed in upcoming years due to consecutive Covid-19 waves in most of the countries.

Hydrofluoric Acid Market: Report Scope

Global Hydrofluoric Acid Market: Segmentation

The global hydrofluoric acid market is categorized based on grade, application, and region.

Based on grade, the global hydrofluoric acid market is split into diluted hydrofluoric acid and aqueous hydrofluoric acid.

The application segment is divided into electronics & semiconductor, glass etching, petroleum catalyst, steel pickling & metal treatment, fluorochemicals, and others.

Global Hydrofluoric Acid Market: Regional Analysis

Asia Pacific is anticipated to hold maximum share in terms of revenue in the global hydrofluoric acid market during the forecast period. China is expected to be the largest shareholder in this region due to huge reserves of fluorspar raw material and restrictions imposed for its export by the Chinese government. In addition to this, rapid industrialization, growing demand for pharmaceutical products, and the presence of major manufacturers of hydrofluoric acid are also some of the key aspects that are responsible for the significant growth of the market in Asia Pacific region. North America holds second position and is estimated to grow at a healthy rate. This is attributable to the increase in demand for hydrofluoric acid for semiconductor and electronics manufacture. Europe is also projected to contribute for a significant share due to its growing use in metal treatment and breweries.

Global Hydrofluoric Acid Market: Competitive Players

Some of the key participants in the global hydrofluoric acid market are

• Daikin
• Fluorchemie Group
• Fluoride Chemical
• Yingpeng Group
• LANXESS
• Sinochem Group
• Mexichem
• Dongyue Group
• Solvay
• and Honeywell International among others.

Global Hydrofluoric Acid Market: Segment Analysis

By Grade

• Anhydrous Hydrofluoric Acid (AHF)
• Diluted Hydrofluoric Acid (DHF) (Above 50% Concentration)
• Diluted Hydrofluoric Acid (DHF) (Below 50% Concentration)

By Application

• Fluorocarbon Production
• Fluorinated Derivative Production
• Metal Pickling
• Glass Etching And Cleaning
• Oil Refining
• Uranium Fuel Production
• Others

By Type

• UP grade
• UP-S grade
• UP-SS grade
• EL grade

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.