What is Hydrofluoric Acid Market?
Hydrofluoric acid, also known as hydrogen fluoride (HF), is a weak acid and a highly toxic and corrosive substance manufactured through two processes i.e. Fluorspar and Fluorosilicic acid. Amongst both, 90% of the HF is produced using fluorspar whereas fluorosilicic acid-based hydrogen fluoride is composed of approximately ~5-8%. Additionally, it is used as an intermediate or starting material for the manufacturing of a number of fluorochemicals used as refrigerants and air conditioning agents. It can be used in the anhydrous form and anhydrous hydrofluoric acid (AHF) or in the dilute form -aqueous hydrofluoric acid. The dilution ratio can vary as per the requirements. Further, the growing demand for fluorine compounds in various industries is anticipated to foster market growth.
Highlights from Hydrofluoric Acid Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Honeywell International (United States), Daikin (Japan), Solvay (Belgium), Dongyue Group (China), Mexichem (Mexico), Sinochem Group (China), LANXESS (Germany), Yingpeng Group (China), Fluoride Chemical (China), Fluorchemie Group (Germany), Stella Chemifa Corporation (Japan), Sunlit Chemical (Taiwan), Zhejiang Kaiheng Electronic Materials (China), Do-Fluoride Chemicals (China), Suzhou Crystal Clear Chemical and Jiangyin Jianghua Microelectronics Materials (China) |
CAGR | 5.5% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new product launches, and collaborations as their preferred strategies. The players explore new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that China Vendors will contribute to the maximum growth of Global Hydrofluoric Acid market throughout the forecasted period.
Honeywell International (United States), Daikin (Japan), Solvay (Belgium), Dongyue Group (China), Mexichem (Mexico), Sinochem Group (China), LANXESS (Germany), Yingpeng Group (China), Fluoride Chemical (China), Fluorchemie Group (Germany), Stella Chemifa Corporation (Japan), Sunlit Chemical (Taiwan), Zhejiang Kaiheng Electronic Materials (China), Do-Fluoride Chemicals (China), Suzhou Crystal Clear Chemical and Jiangyin Jianghua Microelectronics Materials (China) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Shaowu Fluoride (China), Shaowu Huaxin (China), Yingpeng Group (China) and Zhejiang Sanmei Chemical Industry Co Ltd (China). Hydrofluoric Acid Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Integrated Circuit, Solar Energy, Glass Product, Monitor Panel and Other |
Type | UP Grade, UP-S Grade, UP-SS Grade and EL Grade |
Concentration | <49%,=>49% |
On the basis of geography, the market of Hydrofluoric Acid has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Expanding Electronic Industry, Owing to Rising Demand for Smartphones, Laptops, etc. and Adoption of Electronic Grade Hydrofluoric in High-End Applications Such as IOT Devices and Artificial Intelligence
Market Growth Drivers:
Increasing Usage of Aluminium across Various End-use Industries such as Automotive, Packaging, etc., Rising Demand for Fluorochemicals from the Refrigeration and Air conditioning system and Increasing Demand for Fluorine Compounds
Challenges:
Fluctuating Raw Material Price of Hydrofluoric Acid and its Unevenly Distribution and Exposure to Hydrofluoric acid resulting in Risk to Health and Potential Hazards to Manual Labor
Restraints:
High Cost of Raw Materials Used for Hydrofluoric Acid Production and Stringent Regulations on the Use of Fluorocarbon Refrigerants
Opportunities:
Supporting Government Initiatives such as US EPA (Environmental Protection Agency). Fluoropolymers, such as PTFE for Hydrofluoric Acid Production
Key Target Audience
Hydrofluoric acid Manufacturing Companies, Traders and Distributors, Raw Material Suppliers, Commercial R&D Institutes, Research Institute, Trade Association, and Government Agencies and End-Use Industries
Market Leaders & Development Strategies
In April 2021, EcoGraf announced the acquisition of a contract for a battery anode material manufacturing plant to produce spherical graphite outside of China, a more environmentally friendly alternative to traditional hydrofluoric acid cleaning processes.
In November 2017, Dongyue Group inaugurated two companies, namely, Shandong Dongyue Public Trading and Guoming Investment Management, in Beijing, China. These companies are involved in trading commodity products, such as chemical products, non-ferrous metals, and ferrous metals, and investments in production and financing. This expansion has allowed the company to expand its presence in China.
In the United States, the Occupational Safety and Health Administration (OSHA) sets regulations and guidelines for workplace safety, including the handling of hazardous substances like hydrofluoric acid. OSHA's Hazard Communication Standard (HCS) provides information on labeling, safety data sheets (SDS), and training requirements.