Global Hydrofluoric Acid Market Trends, Growth, Report, Size, Key Players, Share, Forecast 2023-2028
According to the report by Expert Market Research (EMR), the Global Hydrofluoric Acid Market Share is projected to grow at a CAGR of 6.72% between 2023 and 2028. Aided by the increasing demand for fluorocarbons and the growing applications of hydrofluoric acid in various industries, the market is expected to grow significantly by 2028.
Hydrofluoric acid is a solution of hydrogen fluoride in water, and it is a highly corrosive and toxic substance. It is commonly used in various applications, including metal cleaning, glass etching, and electronics manufacturing. It plays a crucial role in the production of refrigerants, propellants, and fluoropolymers, which are key components in many consumer and industrial products.
The increasing consumer preference for energy-efficient appliances and vehicles is driving the global hydrofluoric acid market growth. The demand for hydrofluoric acid has increased as a result of a considerable shift towards goods that use fluorocarbons as awareness of the environmental and financial benefits of energy efficiency continues to grow. In addition, as hydrofluoric acid is a crucial component in the creation of semiconductors and microchips, the growing trend towards miniaturisation in electronics has increased its appeal.
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In addition, the expanding applications of hydrofluoric acid in various industries is significantly contributing to the hydrofluoric acid market development. Hydrofluoric acid is used to pickle and clean steel and other metals in the metals sector. In order to etch and frost glass, which is a necessary step in the creation of beautiful glassware, glass containers, and optical lenses, the glass industry uses hydrofluoric acid. Furthermore, hydrofluoric acid is a crucial ingredient in the creation of synthetic cryolite and other fluorine-containing chemicals due to its capacity to dissolve silica.
Additionally, there is more attention being paid to hydrofluoric acid as a crucial component in the manufacturing of aluminium as a result of the rising demand for aluminium in the automotive and aerospace industries. With the rise of lightweight vehicles and the increasing popularity of aluminium in aerospace applications, hydrofluoric acid has emerged as a critical component in the formulation of aluminium alloys, thereby boosting the hydrofluoric acid market expansion.
Market Segmentation
The market can be divided based on product type, grade, application, and region.
Market Breakup by Product Type
- Electronic Hydrofluoric Acid
- Industrial Hydrofluoric Acid
Market Breakup by Grade
- Anhydrous Hydrofluoric Acid
- Diluted Hydrofluoric Acid (above 50% concentration)
- Diluted Hydrofluoric Acid (below 50% concentration)
Market Breakup by Application
- Fluorocarbon Production
- Fluorinated Derivative Production
- Metal Pickling
- Glass Etching and Cleaning
- Oil Refining
- Uranium Fuel Production
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global hydrofluoric acid companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Honeywell International Inc.
- Daikin Industries, Ltd.
- Dongyue Group Co., Ltd
- Do-Fluoride New Materials Co., Ltd.
- Solvay S.A.
- Others
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