Hydrofluoric Acid Market Estimated to Reach $4.5 Billion by 2027 Globally, at a CAGR of 5.9%, says MarketsandMarkets™

Sep 01, 2023

Chicago, June 05, 2023 (GLOBE NEWSWIRE) -- The Hydrofluoric acid market size is estimated to be USD 3.4 billion in 2022, and it is projected to reach USD 4.5 billion by 2027 at a CAGR of 5.9%., as per the recent study by MarketsandMarkets™. The reaction between a hydrogen atom and a fluorine atom leads to the formation of hydrogen fluoride, a colourless, caustic liquid or vapor. It can be dissolved in water, can exist as a colourless gas, or as a liquid that fumes. Hydrofluoric acid is formed when hydrogen fluoride dissolves in water. Hydrofluoric acid market is segmented on the basis of the grade into the AHF, DHF (above 50% concentration) and DHF (below 50% concentration) on their concentrations. Hydrofluoric acid is used in different applications like fluorocarbon production, fluorinated derivative production, metal pickling, glass etching and cleaning, oil refining, uranium fuel production, and others.

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200 - Market Data Tables 36 - Figures 190 - Pages

List of Key Players in Hydrofluoric Acid Market:

Honeywell International Inc.(US)

Solvay (Belgium)

Stella Chemifa Corporation (Japan)

Daikin (Japan) and Lanxess (Germany)

Merck KGaA (Germany)

Dongyue Group Ltd (China)

Orbia (Mexico)

Yingpeng Group (China)

Fluorchemie Group (Germany)

Drivers, Restraints, and Opportunities in Hydrofluoric Acid Market:

Drivers: Extensive usage in refrigerants, hydrofluorocarbons , and hydrofluoroolefins

Restraints: Raw material price fluctuations and stringent regulations on the use of fluorocarbon refrigerants

Opportunity: Use of hydrofluoric acid in glass etching & cleaning applications

Key Findings of the Study:

By Grade, AHF accounted for the largest share in 2021

By Application, the Production of fluorocarbons accounted for the largest share in 2021

Asia Pacific accounted for the largest share of the hydrofluoric acid Market in 2021

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The market of hydrofluoric acid has been segmented based on the grade, i.e AHF, DHF (above 50% concentration) and DHF (below 50% concentration). AHF stands for anhydrous hydrofluoric acid, which is a clear and colourless gas and is used as a main feedstock for producing fluorocarbons. On the other hand, it is also used, to produce organic and inorganic fluorine compounds, and used as a catalyst in oil refineries for the alkylation process. The concernation of AHF varies from 99% to 100%. The DHF (above 50% concentration) segments includes the grades of HF acid whose purity is ranging from 51% to 85%. These grades are used for producing the fluorinated derivatives, metal pickling, and fuel additives. The DHF (below 50% concentration) segment includes grades of hydrofluoric acid ranging from 15% to 50%. These grades are available in the form of clear, colorless liquids. The most widely used grade in this segment is 49% DHF. These DHF grades are mainly used in glass etching & cleaning applications due to the strong bond formed between fluoride anions of DHF and the silicon molecules in the glass. They are also used in fluorinated derivative production and metal pickling applications.

The hydrofluoric acid market is segmented based on applications. Hydrofluoric acid is used in several application segments, such as production of fluorocarbons, production of fluorinated derivative, metal pickling, glass etching and cleaning, oil refining, production of uranium fuel. In the production of fluorocarbon segment, the hydrofluoric acid is used to fluorocarbons which are those compounds which comprises carbon, hydrogen, chlorine, and fluorine as their main constituents. In addition to this, these fluorocarbons does not contain chlorine and fluorine atoms. In the production of fluorinated derivative segment, hydrofluoric acid is used to produce several fluorinated derivatives such as fluoride, fluoropolymers, and fluorosurfactants. The demands for fluoride compounds from metal industry, pharmaceutical and uranium fuel production are increases which helps in propelling the demand during the forecast period. In the metal pickling industry, the hydrofluoric acid is used to dissolve oxides and other impurities. It is also helps in separating the essential metals from mineral ores, wet etching, and clean non-ferrous metal pieces. In glass etching and cleaning segment, it is used to treat glass because it dissolves silicates. It 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. In the oil reefing segment, it is used as a catalyst in alkylation process. This process is mainly used to produce high-quality gasoline or high-octane rating gasoline, because it helps in reducing the benzene and total aromatic hydrocarbon contents from the gasoline. This process is an exothermic process and is operated at a finite temperature difference which helps in providing the optimum amount of products. In the production of uranium fuel, it is used to separating uranium isotopes and reprocessing fuel elements. In the other segment, hydrofluoric acid is used in several segments such as pharmaceutical products, agrochemicals, and consumer products.

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The hydrofluoric acid market is studied in five regions, namely, Asia Pacific, Europe, North America, the Middle East & Africa, and South America. Asia Pacific is the fastest-growing market of hydrofluoric acid globally. Growing developmental activities, rise in industrialization, rapid economic expansion, and growing demand for several application segments such as production of fluorocarbons, fluorinated derivated compounds, etc. lead to growth in this region. In addition to this, this region has abundant resources and availability of labor which helps in growing the market of hydrofluoric acid. Such availability of resources help in growing the market of hydrofluoric acid in the forecast period.

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