Increasing demand for Anhydrous Hydrofluoric acid from the manufacture of fluorocarbons and fluorinated derivatives and an increase in manufacturing base in the Middle East and Asia Pacific regions are key factors contributing to the high CAGR of Anhydrous Hydrofluoric Acid during the forecast period.
Anhydrous Hydrofluoric Acid Market Size – USD 4.39 USD Billion in 2019, Growth - CAGR of 5.6%, Trends – the rapid growth of metal pickling application, steady demand from Asia-Pacific nations
According to the current detailed analysis of Reports and Data, the global Anhydrous 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 a modest growth with its drivers and restraints in place. Anhydrous 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.
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Top Companies: 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.
Further Key Finding from the Report Suggestion:
- Anhydrous Hydrofluoric acid is used as a glass etching agent in the manufacturing of glass substrate, silicon nitride, and silicon dioxide for the thin-film transistor (TFT) - liquid-crystal display (LCD) and semiconductor industries owing to its ability to dissolve silicates.
- Metal Pickling, which is expected to have a CAGR of almost 5.27% during the forecast period, will add a lot to the demand for the market. The acid has an attribute of dissolving oxides and other chemicals, which is also used at several stages in the processing of metals such as carbon steel, stainless steel, and titanium.
- The import business is rising in the U.S, which is raising the demand for Anhydrous Hydrofluoric acid in the pharmaceutical and agrochemical industry. However, due to the environmental norms that are strict in the region for this chemical product will be the key factor for the moderate growth of this product in the market.
- Foreign industries and flexible government laws for international trade in the MEA will result in impressive growth in the market for fluorocarbons in the region during 2019-2027.
- Asia-Pacific region is expected to gain a steady CAGR in the forthcoming period, with China being the major producer of raw material for the manufacture of Anhydrous Hydrofluoric acid. This, together with the heavy demand from metallurgical and chemical industries and a strong manufacturing base in APAC, will propel the market of hydrofluorocarbons.
- Anhydrous Anhydrous Hydrofluoric acid is the most dominant grade type, and it held a market share of more than 5.71% in the global market during the base year 2019.
- Several regions have agreed to eliminate the use of hydrochlorofluorocarbons (HCFCs) and hydrofluorocarbons (HFCs) by imposing rules to limit their consumption. Alternatives are expected to rise and seriously affect the global Anhydrous Hydrofluoric Acid market.
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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The global Anhydrous Hydrofluoric Acid market is segmented into:
Grade Type (Revenue in USD Million; Volume in Kilo Tons, 2017–2027)
- Anhydrous Anhydrous Hydrofluoric Acid
- Diluted Hydrofluoric Acid (Above 50% concentration)
Application (Revenue in USD Million; Volume in Kilo Tons, 2017–2027)
- Fluorocarbon Production
- Fluorinated Derivative Production
- Metal Pickling
- Oil Refining
- Uranium Fuel Production
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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