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
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.
Estimated Market Size in 2020:
USD 1.85 million tons
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 3.33 million tons
Tables, Graphs & Figures
Grade, Type, Product, Application, End User and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Diluted Hydrofluoric Acid
• Anhydrous Hydrofluoric Acid
• Aqueous Hydrofluoric Acid
• UP-S Grade
• UP Grade
• EL Grade
• UP-SS Grade
• Industrial Hydrofluoric Acid
• Electronic Hydrofluoric Acid
• Steel Pickling and Metal Treatment
• Oil Refining
• Glass Etching and Cleaning
• Fluorinated Derivatives
• Uranium Fuel Production
• Petroleum Catalyst
• Fluorocarbon Production
• Organofluorine Compounds
• Organic Synthesis
• Integrated Circuit
• Glass Product
• Solar Energy
• Monitor Panel
• Other Applications
End Users Covered:
• Chemical Processing
• Electrical & Electronics (Microelectronic Industry)
• Oil & Gas
• Semiconductor Industry
• Glass Industry
• Refrigerant Industry
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
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
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• 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.
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