The global Hydrofluoric Acid Market was valued at 2.27 million tons in 2023 and is anticipated to reach 3.67 million tons by 2029, registering a CAGR of 8.3% over the forecast period 2024 to 2029.
Hydrofluoric acid is a clear, colorless, smoky liquid with a strong, pungent odor. It is widely used in the chemical industry to produce fluorinated compounds such as fluorocarbons, fluorides, and fluoropolymers. Fluorocarbons such as hydrofluorocarbons (HFCs) and hydrofluorolefins (HFOs) are the main types of refrigerants used around the world. Hence, the growing demand for refrigerants is expected to drive the production of fluorocarbons, thereby boosting the hydrofluoric acid market. Fluorides are in high demand from the constantly growing aluminum industry.
Hydrofluoric acid is the main type of chemical solution used in the world and is subdivided into two types, namely hydrochlorofluorocarbon (HCFC) and hydrofluorocarbon (HFC). Europe has already phased out hydrochlorofluorocarbons and North America is phasing them out. According to the Montreal Protocol, they should be phased out by 2050 in Article 5 Parties. The market is likely to grow at a moderate pace overall, due to the good performance of industries starting to refine petroleum, stripping metals, etc. APAC is expected to be the largest shareholder due to the presence of many fluorocarbon manufacturers in the region. As a result, countries like China, Japan, South Korea, India, Taiwan, Malaysia, and Indonesia are continually developing at a rapid pace as manufacturing centers for many industries.
The global fluoropolymers market, where hydrofluoric acid is mainly used in the production process, is expected to grow at a CAGR of over 6%, during the outlook period, due to its chemical resistance and characteristics, thermal supreme, and the growing need for baking chips and more applications in the electrical and electronic sector. Likewise, increased use in sealing applications and the penetration of new applications in a wide range of end-user industries will drive the global fluorocarbon market, which is likely to grow at a CAGR of around 6.5% during the foreseen period.
The utilization of hydrofluoric acid in this application is escalating due to the rising call for hydrofluoric acid for the making of fluorinated derivatives. The global hydrofluoric acid market is driven by the increasing need for hydrofluoric acid from the applications like metal pickling, glass etching and cleaning, petroleum refining, and uranium fuel production. Also, hydrofluoric acid is used in making aluminum fluoride, which is mainly used as a raw material for making aluminum. Recent years have witnessed an escalation in the utilization of aluminum in major end-use industries such as automotive, packaging, and others, which will drive the growth of the global hydrofluoric acid market.
Fluorocarbon production is the dominant field of application of hydrofluoric acid. However, various governments and agencies impose regulations to limit the use of fluorocarbon refrigerants due to their harmful effects on the ozone layer. Hence, strict regulation on the use of fluorocarbon refrigerants is one of the major factors that may limit market growth.
The use of fluoropolymers in emerging energy storage technologies including fuel cells, batteries, and supercapacitors offers several market growth opportunities. The chemical processing industry is supposed to dominate the global hydrofluoric acid market during the foreseen period.
Fluorspar is the most widely used raw material for the production of hydrofluoric acid. It is unevenly distributed with more than 43% of reserves located in China. China has restricted the export of fluorspar to other regions for the benefit of local manufacturers, creating a negative impact on profitability and manufacturing margins.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2029 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2029 |
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CAGR |
8.3% |
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Segments Covered |
By Grade, Application, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
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Market Leaders Profiled |
Fluorchemie Group, Honeywell International Inc, LANXESS, Solvay, Yingpeng Group |
The anhydrous hydrofluoric carbon segment held the largest share in the butane market in 2020. The growing call of this grade in fluorinated derivative production, fluorocarbon production, and oil refining applications is anticipated to increase the utilization of anhydrous hydrofluoric carbon worldwide.
Fluorocarbons are the main types of refrigerants used around the world. It is subdivided into three types, namely HCFC, HFC, and HFO. Europe has already phased out HCFCs and North America is phasing out them. Under the Montreal Protocol, HCFCs are to be fully phased out by 2040 in non-Article 5 Parties and by 2050 in Article 5 Parties. This has led to the use of alternatives, such as HFCs and HFOs, which have no ODP. Therefore, fluorocarbon production is expected to remain the main application of hydrofluoric acid during the forecast period.
Hydrofluoric acid has the property of dissolving oxides and other impurities and is therefore used in different stages of the processing of metals such as carbon steel, stainless steel, and titanium. It is also used to separate essential metals from minerals and for wet etching and cleaning of non-ferrous metal parts. The growing metallurgical industry worldwide is estimated to increase the demand for hydrofluoric acid in the application of metal pickling.
Hydrofluoric acid is used as a glass etching agent in the manufacture of glass substrate, silicon nitride, and silicon dioxide for thin film transistors (TFT), liquid crystal display (LCD), and other industries' semiconductors due to its ability to dissolve silicate.
The Asia-Pacific region is foreseen to be the dominant market for the consumption of hydrofluoric acid. Indeed, the region dominates the market for end-user industries such as chemical, pharmaceutical, and electronic processing. Asia-Pacific is also expected to be the fastest-growing market during the projection period, owing to the demand for applications such as petroleum refining, cleaning agents, etchants, etc. Hydrofluoric acid acts as a precursor for drugs like Prozac, indicating steady demand from the pharmaceutical industry in the region, which is the third largest in the world after the United States and Europe, due to the size of the population of the region, especially the elderly population, GDP per capita, health expenditure, regulatory systems, disease incidence, among others. The Asian electronics market is supposed to grow at a CAGR of over 5.6% during the predicted period, with China, Japan, India, and South Korea among the top 11 manufacturers of electronics in the world. In the electronics industry, hydrofluoric acid is the key chemical in the manufacture of silicon-based semiconductor devices.
Fluorchemie Group, Honeywell International Inc., LANXESS, Solvay, Yingpeng Group are some of the notable companies in the global hydrofluoric acid market.
In June 2019, a Philadelphia refinery explosion put new emphasis on toxic chemicals. The massive explosions that ignited a Philadelphia refinery have renewed concerns about the oil industry's use of a highly toxic chemical to produce high-octane gasoline at factories located in densely populated areas populated. Aerial video of the scene at Philadelphia Energy Solutions Inc's largest refinery in northeast Philadelphia on local television showed extensive damage and the huge complex nearly engulfed in flames.
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