Hydrofluoric Acid Market Scope
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 composed of approximately ~5-8%.Additionally, it is used as an intermediate or starting material for the manufacturing of a number of a 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, growing demand for fluorine compounds in various industries is anticipated to foster the market growth.
The market study is being classified by Type (UP Grade, UP-S Grade, UP-SS Grade and EL Grade), by Application (Integrated Circuit, Solar Energy, Glass Product, Monitor Panel and Other) and major geographies with country level break-up. According to AMA, the Global Hydrofluoric Acid market is expected to see growth rate of 5.5%
Research Analyst at AMA predicts that China Vendors will contribute to the maximum growth of Global Hydrofluoric Acid market throughout the predicted 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).
AdvanceMarketAnalytics has segmented the market of Global Hydrofluoric Acid market by Type, Application and Region.
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). If we see Market by Concentration, the sub-segment i.e. <49% will boost the Hydrofluoric Acid market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
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, ferrous metals, and investments in production and financing. This expansion has allowed the company to expand its presence in China.
- Expanding Electronic Industry, Owing to Rising Demand for Smartphones, Laptop, etc.
- Adoption of Electronic Grade Hydrofluoric in High-End Applications Such as IOT Devices and Artificial Intelligence
- Increasing Usage of Aluminium across Various End-use Industries such as Automotive, Packaging, etc.
- Rising in Demand for Fluorochemicals from the Refrigeration and Air conditioning system
- Increasing Demand for Fluorine Compounds
- Supporting Government Initiatives such as US EPA (Environmental Protection Agency). Fluoropolymers, such as PTFE for Hydrofluoric Acid Production
- High Cost of Raw Materials used for Hydrofluoric Acid Production
- Stringent Regulations on the use of Fluorocarbon Refrigerants
- Fluctuating Raw Material Price of Hydrofluoric Acid and its Unevenly Distribution
- Exposure to Hydrofluoric acid resulting in Risk to the Health and Potential Hazards to Manual Labor
Key Target AudienceHydrofluoric acid Manufacturing Companies, Traders and Distributors, Raw Material Suppliers, Commercial R&D Institutes, Research Institute, Trade Association, and Government Agencies and End-Use Industries
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