Global Hydrofluoric Acid Market to Witness a Pronounce Growth During 2017 - 2027

Hydrofluoric Acid Market: Introduction

Hydrofluoric acid is a highly reactive inorganic chemical compound manufactured from the reaction of calcium fluoride (CaF2) or fluorspar with sulfuric acid. The compound formed is in a gaseous state, which is further condensed and modified for industrial usage by diluting with water. It is also used in the semiconductor industry where it is used in semiconductor wafer cleaning and the etching process. In terms of physical appearance, hydrofluoric acid is a colorless, clear liquid with a pungent smell, which is extremely corrosive in nature. It is diluted with water to form hydrofluoric acid of various concentrations for several industrial usage purposes. Hydrofluoric acid finds application in several industries where it is applied for making fluorinated organic & inorganic compounds, refrigerant gases, rust removal and many more.

Hydrofluoric Acid Market: Dynamics

Hydrofluoric acid is a preliminary compound required for the manufacturing of almost all organofluorine compounds, such as fluoropolymers, which include Teflon, fluorocarbons and refrigerant gases. Fluoropolymers find applications in many end use industries, such as automotive, industrial processing and heath care, among others. Hydrofluoric acid is now increasingly consumed as a replacement fluorocarbon for CFCs and HCFCs. Furthermore, high dissolvability of hydrofluoric acid makes it suitable for removing impurities from metals. Thus, it is used in metalworking and semiconductor wafer processing. Hydrofluoric acid is also used in the oil refining process where it is indirectly used as a catalyst and also used in many other niche applications. Therefore, growing demand for hydrofluoric acid in end use industries is anticipated to drive the market growth over the forecast period.

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Hydrofluoric acid is a highly reactive compound that rapidly reacts with almost all oxides and is capable of dissolving many materials. It can cause severe poisoning in humans through skin contact, inhalation or ingestion, which can permanently damage eyes, lungs or skin. Therefore, it is suggested to use hydrofluoric acid under high precautionary measures. Thus, substitutes of hydrofluoric acids are preferred wherever possible. Furthermore, increase in the price of raw materials for hydrofluoric acid, i.e. fluorspar, is also expected to put pressure on the demand side. Such factors may hamper the growth of the hydrofluoric acid market over the forecast period.

Nowadays, replacement fluorocarbons are witnessing significant demand from end use segments as they do not emit gases that cause ozone depletion, which is one of the ongoing key trends in the hydrofluoric acid market.

Hydrofluoric Acid Market: Segmentation

The hydrofluoric acid market can be segmented on the basis of grade and application. On the basis of grade, the hydrofluoric acid market can be segmented as anhydrous hydrofluoric acid, 70% aqueous solution of hydrofluoric acid and 49% aqueous solution of hydrofluoric acid. On the basis of application, the hydrofluoric acid market can be segmented as fluorocarbons, oil refining, etching & cleaning, chemicals, metallurgical & mining, pharmaceuticals and others.

Hydrofluoric Acid Market: Regional Outlook

Asia Pacific is anticipated to dominate the hydrofluoric acid market over the forecast period. China is the major producer of fluorspar globally along with being a major consumer, owing to the high demand from the chemical, mining & metallurgical industries. Demand for hydrofluoric acid is also high in the U.S., owing to the significant growth in end use industries. Hydrofluoric acid is imported in many countries, including the U.S. Furthermore, Europe is also estimated to witness steady growth, owing to demand for replacement fluorocarbons. Middle East & Africa is anticipated to show lackluster growth over the forecast period.

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Hydrofluoric Acid Market: Market Participants

Examples of some of the market participants in the global hydrofluoric acid market are:

Honeywell International Inc.
Solvay America, Inc.
Zhejiang Yipeng Chemical Co., Ltd.
Tanfac Industries Ltd
Fubao Group.
Sinochem Lantian Co., Ltd.
Jiangxi Chinafluorine Chemical Co., Ltd.
Gulf Fluor
Airgas

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This release was published on openPR.