The Hydrofluoric Acid market is valued at 4.39 USD Billion in 2019 and is supposed to reach 6.77 USD Billion by the end of 2027, growing at a CAGR of 5.6% during 2020-2027, according to a new report by Reports and Data. 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.
Hydrofluoric Acid is a solution of hydrogen fluoride with a colorless appearance. The HF is highly corrosive and used in various ends use industries like mining, chemicals, refining, and research purpose. Fluorinated derivatives production is a typical application of Hydrofluoric Acid, which is also flourishing because of the rapid growth of the aluminum industry. An increase in glass etching and cleaning applications is also posing as a driving factor in the coming forecast period. However, stringent government regulations on the use of fluorocarbon refrigerants are expected to restrict the growth during the forecast period. Globally, key players are planning to introduce an alternative way for the transportation of anhydrous grade as it creates extra cost during transportation.
Top Companies Operating in the Global Hydrofluoric Acid Market:
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.
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Major Factors Contributing to the Global Materials and Chemicals Market Revenue Growth
According to a recent market analysis report by Reports and Data, the global materials chemicals market is expected to surpass a market size of USD XX billion in 2028, registering a robust XX% CAGR during the forecast period. The global materials chemicals market revenue growth is primarily attributed to factors such as fast-paced industrialization across the globe, rising demand for essential consumer goods (including packaged foods beverages, personal care cosmetic products, and household hygiene products), and increasing applications of raw materials and chemicals in a wide range of industries including the buildings construction, food beverage, pharmaceutical, agriculture, and textile industries. Other important factors contributing to the global market revenue growth are increasing industrial applications of specialty chemicals, growing use of high-performance, organic agrochemicals in the agriculture industry, rising environmental concerns among the population, growing need for environmentally friendly and sustainable raw materials and chemicals, and increasing government investments in the materials chemicals industry.
Table of Contents:
- Report Overview
1.1 Research Scope
1.2 Key Hydrofluoric Acid market segments
1.3 Major players
1.4 Market analysis by product type
1.5 Market analysis by application
1.6 Report timeline
- Global Growth Trends
2.1 Global Hydrofluoric Acid market size
2.2 Latest regional market trends
2.3 Emerging growth trends
- Competitive Outlook
3.1 Global Hydrofluoric Acid market key players
3.2 Global Hydrofluoric Acid size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Hydrofluoric Acid market
3.5 Mergers, acquisitions, joint ventures, and other strategic alliances
Read full Report Description @ https://www.reportsanddata.com/report-detail/hydrofluoric-acid-market
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
Hydrofluoric Acid Market Segmentation
By Grade Type (Revenue in USD Million; Volume in Kilo Tons, 2019-2027)
- Anhydrous Hydrofluoric Acid
- Diluted Hydrofluoric Acid (Above 50% concentration)
- Diluted Hydrofluoric Acid (Below 50% concentration)
By Application (Revenue in USD Million; Volume in Kilo Tons, 2019-2027)
- Fluorocarbon Production
- Fluorinated Derivative Production
- Metal Pickling
- Oil Refining
- Uranium Fuel Production
- Others
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