Hydrofluoric Acid Market - Industry Size, Share, Growth & Forecast 2027 | UnivDatos

 

Hydrofluoric acid regardless of its corrosive nature is used in a wide range of industries owing to its characteristics giving an edge over others. Electronics, metallurgical, glass, polymer, agrochemicals, pharmaceuticals, and petrochemicals, among others, are some of the most prominent industries where hydrofluoric acid is used. Hydrofluoric acid is not an end-user product; therefore, its market dynamics majorly depend upon the performance of the aforementioned industries. Over the years, the production capacity of these industries has been rising owing to growing demographic, rising income, and supportive policies, to name a few, thereby increasing the demand for raw materials used in the manufacturing of end products. This in turn increases the demand for hydrofluoric acid. For instance, hydrofluoric acid is used in fluorine-containing pharmaceutical products, therefore as the global pharmaceutical market increased from $879 billion in 2011 to around $1,571 billion in 2020, the demand for compounds or raw materials used in the manufacturing process also increased.

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According to UnivDatos Market Insights (UMI)’ research report “Global Hydrofluoric Acid Market”, the market is expected to showcase a growth of around 5% during the forecast period. Large base of end-use industry and growing demand for fluorine-based products are some of the key attributable factors to the growth of the market

Based on type, the market is categorized into anhydrous and dilute hydrofluoric acid. Of both, anhydrous hydrofluoric acid captured a considerable share in the market owing to its usage in a large number of application areas. It is used in microchip production, cleaning agents for electronic circuits, metal cleaning, pre-treatment and treatment, glass frosting and engraving, air conditioning, refrigerators, fire extinguishers, production of inorganic chemicals, medicines, pesticides, uranium tetrafluoride, and hexafluoride.

Based on application, the market is categorized into electronics, metallurgical, glass, polymer, agrochemical, pharmaceutical, petrochemical, and others. Among all, the electronics industry is likely to showcase robust growth during the forecast period. As the demand for semiconductor witnessed robust growth in 2021, therefore chip manufacturer has taken several initiatives to reduce the supply-demand gap. For instance, in 2022, Intel Corporation announced plans for an initial investment of more than $20 billion in the construction of two new chip factories in Ohio, US. This in turn would boost the demand for hydrofluoric acid.

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Asia-Pacific accounted for a considerable share of the hydrofluoric acid market

The large base of semiconductor manufacturing, glass, petrochemical, chemical, metallurgy, petrochemical, and polymer industries of the region helped the region to obtain a dominating position in the market. For instance, according to India Pesticides Limited, draft herring prospectus, the global agrochemical industry stood at around $62.5 billion in 2019, out of which Asia-Pacific accounted for a share of around 42%. Regional demand for agrochemicals due to agriculture consumption is needed in order to feed the growing and already higher population. Further, improving per-capita income and disposable income is encouraging consumers to purchase large numbers of products, thereby increasing the demand for hydrofluoric acid from the end-user industry. Further, the region is expected to showcase robust growth during the foreseeable future as well due to semiconductor industry facility expansion in order to deal with growing demand. Government favorable policies to support the semiconductor industry is luring international companies to open their manufacturing facility in the regional country. For instance, the Government of India envisioned a comprehensive program for developing the semiconductors and display manufacturing ecosystem in India with a budget of over USD 10.2 billion (INR 76,000 crore).

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global hydrofluoric acid market include Honeywell International Inc., Derivados Del Fluor S.A.U., Daikin Industries Ltd., Solvay S.A., Zhejiang Sanmei Chemical Ind. Co. Ltd., Lanxess AG, Fluorsid S.p.A., Navin Fluorine International Limited, Fluorchemie Gruppe, Yingpeng Chemical Co. Ltd. These companies are taking several strategic decisions to meet the growing demand and increase their market share.

“Global Hydrofluoric Acid Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.      

Market Segmentation:

1.     By Type (Anhydrous and Dilute)

2.     By Application (Electronics, Metallurgical, Glass, Polymer, Agrochemical, Pharmaceutical, Petrochemical, and Others)

3.     By Region (North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World)

4.     By Company (Honeywell International Inc., Derivados Del Fluor S.A.U., Daikin Industries Ltd., Solvay S.A., Zhejiang Sanmei Chemical Ind. Co. Ltd., Lanxess AG, Fluorsid S.p.A., Navin Fluorine International Limited, Fluorchemie Gruppe, Yingpeng Chemical Co. Ltd.)

Key questions answered in the study:

1.     What are the current and future trends of the global hydrofluoric acid industry?

2.     How the industry has been evolving in terms of type and application?

3.     How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.     What are the key growth drivers and challenges for the global hydrofluoric acid industry?

5.    What are the customer orientation, purchase behavior, and expectations from the global Hydrofluoric Acid suppliers across various region and countries?

Table of Content –

1 MARKET INTRODUCTION

2 RESEARCH METHODOLOGY OR ASSUMPTION

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 GLOBAL HYDROFLUORIC ACID MARKET COVID-19 IMPACT

6 GLOBAL HYDROFLUORIC ACID MARKET REVENUE (USD MN), 2019-2027F

7 MARKET INSIGHTS BY TYPE

8 MARKET INSIGHTS BY APPLICATION

9 MARKET INSIGHTS BY REGION

10 HYDROFLUORIC ACID MARKET DYNAMICS

11 HYDROFLUORIC ACID MARKET OPPORTUNITIES

12 HYDROFLUORIC ACID MARKET TRENDS

13 LEGAL & REGULATORY FRAMEWORK

14 DEMAND AND SUPPLY-SIDE ANALYSIS

15 VALUE CHAIN ANALYSIS

16 COMPETITIVE SCENARIO

17 COMPANY PROFILED

18 DISCLAIMER