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Hydrofluoric Acid Market

Hydrofluoric Acid Market Forecasts to 2028 – Global Analysis By Product (Industrial, Electronic), Application (Steel Pickling, Oil Refining), End User (Chemical Processing, Electronics), and By Geography

4.5 (48 reviews)
Published: July 2021 ID: SMRC20811
4.5 (48 reviews)
Published: July 2021 ID: SMRC20811

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Hydrofluoric Acid Market is accounted for $1.85 million tons in 2020 and is expected to reach $3.33 million tons by 2028 growing at a CAGR of 7.6% during the forecast period. Some of the key factors propelling the market growth include Growing Demand for Hydrofluorocarbons (Hfcs) and Hydrofluorolefins (Hfos), Increasing glass etching and cleaning application in the semiconductor industry, Increased Demand for Fluorine Compounds in Several Industries, and increasing use of HF in steel aluminum, petroleum, and pharmaceuticals industry. However, stringent regulations on the use of fluorocarbon refrigerants are hampering the market growth.

Hydrofluoric acid (HF), also known as fluorhydric acid and hydronium fluoride, is a solution of hydrogen fluoride with colorless appearance. It is a weak acid, and is highly corrosive and toxic for individuals, as it can damage lungs and cornea of eyes permanently. It is produced by treatment of fluorite with concentrated sulfuric acid. It is used in various industries such as mining, chemicals, refining, silicon chip fabrication, and for other research purposes. Hydrofluoric acid is also used in the production of aluminum fluoride, which is key to the manufacture of aluminum products.

By grade, the anhydrous hydrofluoric acid segment is expected to grow at a significant rate during the forecast period, due to the rising demand of this grade in fluorinated derivative production, fluorocarbon production, and oil refining applications is expected to raise the consumption of anhydrous hydrofluoric carbon globally. Anhydrous hydrofluoric acid (AHF) is the largest grade of hydrofluoric acid and is suitable for a wide range of applications such as fluorocarbon production, fluorinated derivative production, and oil refining. It is used as a pickling agent in metalworking, to remove the oxides and other impurities from carbon steels because of its ability to dissolve steel. AHF is usually found in the gaseous form with concentrations ranging between 99% and 100%. It is a very corrosive and toxic compound, making it difficult to handle and store.

On the basis of geography, Asia Pacific region is expected to fastest-growing market during the forecast period, owing to the presence of numerous fluorocarbon manufacturers in the region, massive demand from chemical and metallurgical industries, and actively growing manufacturing base in APAC. China is projected to be the fastest-growing market for hydrofluoric acid in Asia Pacific, followed by India and Japan due to numerous number of manufacturers. Moreover, the increasing demand for hydrofluoric acid from applications such as fluorocarbon production, fluorinated derivative production, metal pickling, and glass etching and cleaning is expected to drive the hydrofluoric acid market in these countries. In addition, Chinese players have been at an added advantage by government restrictions on the exports of fluorspar thereby putting pressure on the other regional and global suppliers.

Some of the key players in Hydrofluoric Acid Market include Daikin Industries Ltd., Buss ChemTech AG, Merck KGaA, Stella Chemifa Corporation, Laxness AG, Solvay SA, Fubao Group, Sinochem International Corp., Tanfac Industries ltd., Honeywell International, Gujarat Fluorochemicals Ltd., Morita Chemical Industries Co. Ltd., Navin Fluorine International Limited, SRF Limited, Gulf Fluor, and Soulbrain Co., ltd.

Report Coverage

Details

Published Year:

2021

Estimated Market Size in 2020:

USD 1.85 million tons

Estimated Period:

2020

Compound Annual Growth Rate (CAGR)  from 2020 to 2028:

7.6%

Predicted 2028 Value:

USD 3.33 million tons

Forecast Years:

2021-2028

Tables, Graphs & Figures

263

Chapters Covered:

Grade, Type, Product, Application, End User and Region

Core Drivers and Opportunities:

  • Rising demand for hydrofluorocarbons (Hfcs) and hydrofluorolefins (Hfos)
  • Increasing demand for fluorine compounds in several industries
  • Growing demand from glass etching and cleaning applications

Restraining Factors & Market Threats:

  • Stringent regulations on the use of fluorocarbon refrigerants
  • Hazardous effects of hydrofluoric acid


Grades Covered:
• Diluted Hydrofluoric Acid
• Anhydrous Hydrofluoric Acid
• Aqueous Hydrofluoric Acid

Types Covered:
• UP-S Grade
• UP Grade
• EL Grade
• UP-SS Grade

Products Covered:
• Industrial Hydrofluoric Acid
• Electronic Hydrofluoric Acid

Applications Covered:
• Steel Pickling and Metal Treatment
• Fluorochemicals
• Oil Refining
• Glass Etching and Cleaning
• Fluorinated Derivatives
• Uranium Fuel Production
• Petroleum Catalyst
• Fluorocarbon Production
• Organofluorine Compounds
• Refining
• Organic Synthesis
• Integrated Circuit
• Glass Product
• Solar Energy
• Monitor Panel
• Other Applications

End Users Covered:
• Chemical Processing
• Electrical & Electronics (Microelectronic Industry)
• Oil & Gas
• Pharmaceuticals
• Semiconductor Industry
• Glass Industry
• Refrigerant Industry

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK 
o Spain
o Rest of Europe      
• Asia Pacific
o Japan       
o China       
o India       
o Australia       
o New Zealand     
o South Korea          
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Key Questions Answered In The Report

The Global Hydrofluoric Acid Market is majorly driven by growing glass etching and cleaning application in the semiconductor industry, rising use of HF in steel aluminum, petroleum, and pharmaceuticals industry, and increasing demand from chemical processing industry.

The fluorocarbon production segment is growing at a highest CAGR owing to the extensive use of hydrofluoric acid in the manufacturing of fluorocarbons & agrochemicals industry and the rise in demand for fluorocarbons.

Asia Pacific dominated with a significant market share due to actively growing manufacturing base in APAC, massive demand from chemical and metallurgical industries, and demand from applications like oil refining, cleaning agent, etching agent, etc.

Europe market is growing at a highest CAGR owing to the rise in the fluorochemical production applications and the occurrence of major key players.

Key players in Hydrofluoric Acid Market include Daikin Industries Ltd., Buss ChemTech AG, Merck KGaA, Stella Chemifa Corporation, Laxness AG, Solvay SA, Fubao Group, Sinochem International Corp., Tanfac Industries ltd., Honeywell International, Gujarat Fluorochemicals Ltd., Morita Chemical Industries Co. Ltd., Navin Fluorine International Limited, SRF Limited, Gulf Fluor, and Soulbrain Co., ltd.

1 Executive Summary    
     
2 Preface 
   
 2.1 Abstract   
 2.2 Stake Holders   
 2.3 Research Scope   
 2.4 Research Methodology   
  2.4.1 Data Mining  
  2.4.2 Data Analysis  
  2.4.3 Data Validation  
  2.4.4 Research Approach  
 2.5 Research Sources    
  2.5.1 Primary Research Sources  
  2.5.2 Secondary Research Sources  
  2.5.3 Assumptions  
     
3 Market Trend Analysis    
 3.1 Introduction   
 3.2 Drivers   
 3.3 Restraints   
 3.4 Opportunities   
 3.5 Threats   
 3.6 Product Analysis   
 3.7 Application Analysis   
 3.8 End User Analysis   
 3.9 Emerging Markets   
 3.10 Impact of Covid-19   
     
4 Porters Five Force Analysis    
 4.1 Bargaining power of suppliers   
 4.2 Bargaining power of buyers   
 4.3 Threat of substitutes   
 4.4 Threat of new entrants   
 4.5 Competitive rivalry   
     
5 Global Hydrofluoric Acid Market, By Grade    
 5.1 Introduction   
 5.2 Diluted Hydrofluoric Acid   
  5.2.1 Diluted Hydrofluoric Acid (below 50% concentration)  
  5.2.2 Diluted Hydrofluoric Acid (above 50% concentration)  
 5.3 Anhydrous Hydrofluoric Acid   
 5.4 Aqueous Hydrofluoric Acid   
     
6 Global Hydrofluoric Acid Market, By Type    
 6.1 Introduction   
 6.2 UP-S Grade   
 6.3 UP Grade   
 6.4 EL Grade    
 6.5 UP-SS Grade   
     
7 Global Hydrofluoric Acid Market, By Product    
 7.1 Introduction   
 7.2 Industrial Hydrofluoric Acid   
 7.3 Electronic Hydrofluoric Acid   
     
8 Global Hydrofluoric Acid Market, By Application    
 8.1 Introduction   
 8.2 Steel Pickling and Metal Treatment   
 8.3 Fluorochemicals   
 8.4 Oil Refining   
 8.5 Glass Etching and Cleaning   
 8.6 Fluorinated Derivatives   
 8.7 Uranium Fuel Production   
 8.8 Petroleum Catalyst   
 8.9 Fluorocarbon Production   
 8.10 Organofluorine Compounds   
 8.11 Refining   
 8.12 Organic Synthesis   
 8.13 Integrated Circuit   
 8.14 Glass Product   
 8.15 Solar Energy   
 8.16 Monitor Panel   
 8.17 Other Applications   
  8.17.1 Agrochemicals  
  8.17.2 Pharmaceutical Products  
  8.17.3 Consumer Products  
     
9 Global Hydrofluoric Acid Market, By End User    
 9.1 Introduction   
 9.2 Chemical Processing   
 9.3 Electrical & Electronics (Microelectronic Industry)   
 9.4 Oil & Gas   
 9.5 Pharmaceuticals   
 9.6 Semiconductor Industry   
 9.7 Glass Industry   
 9.8 Refrigerant Industry   
     
10 Global Hydrofluoric Acid Market, By Geography    
 10.1 Introduction   
 10.2 North America   
  10.2.1 US  
  10.2.2 Canada  
  10.2.3 Mexico   
 10.3 Europe   
  10.3.1 Germany  
  10.3.2 UK  
  10.3.3 Italy  
  10.3.4 France  
  10.3.5 Spain  
  10.3.6 Rest of Europe  
 10.4 Asia Pacific   
  10.4.1 Japan  
  10.4.2 China  
  10.4.3 India  
  10.4.4 Australia  
  10.4.5 New Zealand  
  10.4.6 South Korea  
  10.4.7 Rest of Asia Pacific  
 10.5 South America   
  10.5.1 Argentina  
  10.5.2 Brazil  
  10.5.3 Chile  
  10.5.4 Rest of South America  
 10.6 Middle East & Africa   
  10.6.1 Saudi Arabia  
  10.6.2 UAE  
  10.6.3 Qatar  
  10.6.4 South Africa  
  10.6.5 Rest of Middle East & Africa  
     
11 Key Developments    
 11.1 Agreements, Partnerships, Collaborations and Joint Ventures   
 11.2 Acquisitions & Mergers   
 11.3 New Product Launch   
 11.4 Expansions   
 11.5 Other Key Strategies   
     
12 Company Profiling    
 12.1 Daikin Industries Ltd.   
 12.2 Buss ChemTech AG   
 12.3 Merck KGaA   
 12.4 Stella Chemifa Corporation   
 12.5 Laxness AG   
 12.6 Solvay SA   
 12.7 Fubao Group   
 12.8 Sinochem International Corp.   
 12.9 Tanfac Industries ltd.   
 12.10 Honeywell International   
 12.11 Gujarat Fluorochemicals Ltd.   
 12.12 Morita Chemical Industries Co. Ltd.   
 12.13 Navin Fluorine International Limited   
 12.14 SRF Limited   
 12.15 Gulf Fluor   
 12.16 Soulbrain Co., ltd.   


List of Tables     
1 Global Hydrofluoric Acid Market Outlook, By Region (2019-2028) ($MN)    
2 Global Hydrofluoric Acid Market Outlook, By Grade (2019-2028) ($MN)    
3 Global Hydrofluoric Acid Market Outlook, By Diluted Hydrofluoric Acid (2019-2028) ($MN)    
4 Global Hydrofluoric Acid Market Outlook, By Diluted Hydrofluoric Acid (below 50% concentration) (2019-2028) ($MN)    
5 Global Hydrofluoric Acid Market Outlook, By Diluted Hydrofluoric Acid (above 50% concentration) (2019-2028) ($MN)    
6 Global Hydrofluoric Acid Market Outlook, By Anhydrous Hydrofluoric Acid (2019-2028) ($MN)    
7 Global Hydrofluoric Acid Market Outlook, By Aqueous Hydrofluoric Acid (2019-2028) ($MN)    
8 Global Hydrofluoric Acid Market Outlook, By Type (2019-2028) ($MN)    
9 Global Hydrofluoric Acid Market Outlook, By UP-S Grade (2019-2028) ($MN)    
10 Global Hydrofluoric Acid Market Outlook, By UP Grade (2019-2028) ($MN)    
11 Global Hydrofluoric Acid Market Outlook, By EL Grade (2019-2028) ($MN)    
12 Global Hydrofluoric Acid Market Outlook, By UP-SS Grade (2019-2028) ($MN)    
13 Global Hydrofluoric Acid Market Outlook, By Product (2019-2028) ($MN)    
14 Global Hydrofluoric Acid Market Outlook, By Industrial Hydrofluoric Acid (2019-2028) ($MN)    
15 Global Hydrofluoric Acid Market Outlook, By Electronic Hydrofluoric Acid (2019-2028) ($MN)    
16 Global Hydrofluoric Acid Market Outlook, By Application (2019-2028) ($MN)    
17 Global Hydrofluoric Acid Market Outlook, By Steel Pickling and Metal Treatment (2019-2028) ($MN)    
18 Global Hydrofluoric Acid Market Outlook, By Fluorochemicals (2019-2028) ($MN)    
19 Global Hydrofluoric Acid Market Outlook, By Oil Refining (2019-2028) ($MN)    
20 Global Hydrofluoric Acid Market Outlook, By Glass Etching and Cleaning (2019-2028) ($MN)    
21 Global Hydrofluoric Acid Market Outlook, By Fluorinated Derivatives (2019-2028) ($MN)    
22 Global Hydrofluoric Acid Market Outlook, By Uranium Fuel Production (2019-2028) ($MN)    
23 Global Hydrofluoric Acid Market Outlook, By Petroleum Catalyst (2019-2028) ($MN)    
24 Global Hydrofluoric Acid Market Outlook, By Fluorocarbon Production (2019-2028) ($MN)    
25 Global Hydrofluoric Acid Market Outlook, By Organofluorine Compounds (2019-2028) ($MN)    
26 Global Hydrofluoric Acid Market Outlook, By Refining (2019-2028) ($MN)    
27 Global Hydrofluoric Acid Market Outlook, By Organic Synthesis (2019-2028) ($MN)    
28 Global Hydrofluoric Acid Market Outlook, By Integrated Circuit (2019-2028) ($MN)    
29 Global Hydrofluoric Acid Market Outlook, By Glass Product (2019-2028) ($MN)    
30 Global Hydrofluoric Acid Market Outlook, By Solar Energy (2019-2028) ($MN)    
31 Global Hydrofluoric Acid Market Outlook, By Monitor Panel (2019-2028) ($MN)    
32 Global Hydrofluoric Acid Market Outlook, By Other Applications (2019-2028) ($MN)    
33 Global Hydrofluoric Acid Market Outlook, By Agrochemicals (2019-2028) ($MN)    
34 Global Hydrofluoric Acid Market Outlook, By Pharmaceutical Products (2019-2028) ($MN)    
35 Global Hydrofluoric Acid Market Outlook, By Consumer Products (2019-2028) ($MN)    
36 Global Hydrofluoric Acid Market Outlook, By End User (2019-2028) ($MN)    
37 Global Hydrofluoric Acid Market Outlook, By Chemical Processing (2019-2028) ($MN)    
38 Global Hydrofluoric Acid Market Outlook, By Electrical & Electronics (Microelectronic Industry) (2019-2028) ($MN)    
39 Global Hydrofluoric Acid Market Outlook, By Oil & Gas (2019-2028) ($MN)     
40 Global Hydrofluoric Acid Market Outlook, By Pharmaceuticals (2019-2028) ($MN)    
41 Global Hydrofluoric Acid Market Outlook, By Semiconductor Industry (2019-2028) ($MN)    
42 Global Hydrofluoric Acid Market Outlook, By Glass Industry (2019-2028) ($MN)    
43 Global Hydrofluoric Acid Market Outlook, By Refrigerant Industry (2019-2028) ($MN)    
     
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.      

 

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