Press release
Hydrogen Fluoride Market Growth Tactics, Regional Analysis 2030
The market size of hydrogen fluoride witnessed significant growth in 2021 and is expected to register a high revenue CAGR during the forecast period. The increasing adoption of hydrogen fluoride in the metallurgical and electronics industries is driving market revenue growth.
Hydrogen fluoride, also known as HF, exists in both gaseous and liquid states, with the liquid form being called hydrofluoric acid. It is a colorless, highly corrosive, and reactive compound that is commercially produced by reacting calcium fluoride mineral with sulfur. Its fuming colorless acid is obtained by further dissolving it in water. This material is commonly used as a solvent in inorganic chemistry and in cryolite synthesis for aluminum production to remove oxides from stainless steel sheets. It is also utilized to prepare fluorocarbons, which are used as endothermic cooling agents in refrigerators. In addition, it acts as a catalyst in oil refining to obtain high-octane gasoline transportation fuel from crude fuel and is used in the preparation of fluorescent lights and herbicides for agriculture.
Moreover, the semiconductor electronics hardware sector is experiencing a surge in demand for hydrogen fluoride due to its use in dry etching of silicon wafers, which is essential for creating silicon chips. It is a crucial component of buffered oxide etching, a rapidly growing field due to its focus on technology innovation. The electronics application of this chemical is seen as having great potential for market players.
Overall, the increasing adoption of hydrogen fluoride in the metallurgical and electronics industries, coupled with its versatile use in other industries, is expected to drive market revenue growth during the forecast period.
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Hydrogen Fluoride Market Segments:
Hydrogen fluoride is a compound that is available in both gaseous and liquid states and is widely used in a variety of industries due to its chemical properties. According to market data, the global hydrogen fluoride market size was robust in 2021 and is expected to continue to grow rapidly over the forecast period.
The revenue for the hydrogen fluoride market is segmented by type, including gas hydrogen fluoride and liquid hydrogen fluoride, and by application or end use outlook, including chemicals, mining & metallurgical, etching, pharmaceuticals, and others. The revenue for each segment is given in USD Million for the years 2019 to 2030.
In terms of regional outlook, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Within these regions, revenue is further segmented for specific countries, including the US, Canada, Mexico, Germany, UK, France, Italy, Spain, BENELUX, China, India, Japan, South Korea, Brazil, Saudi Arabia, UAE, South Africa, and rest of Europe, Asia Pacific, Latin America, and Middle East & Africa.
The increasing use of hydrogen fluoride in the metallurgical industry, such as in aluminum production due to its usage in cryolite synthesis, is a major factor driving market revenue growth. Additionally, the adoption of hydrogen fluoride in the electronics industry for silicon wafer and semiconductor etching is also a significant factor. The use of hydrogen fluoride in the preparation of fluorocarbons, endothermic cooling agents used in refrigerators, and its role as a catalyst in oil refining for the production of high octane gasoline transportation fuel from crude oil are other important applications of this compound.
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Hydrogen Fluoride Market Strategic Developments:
Evonik Thanatos Chemical Industries GmbH, based in Germany, completed the acquisition of Fluorochemie Gruppe in February 2021. The move is anticipated to facilitate strategic growth for the group, with a focus on sustainable processing and distribution of raw materials, thereby contributing to smoother supply chains in the region.
In October 2021, Daikin Industries Ltd., a Japanese company, announced the provision of free access to its patents concerning the use of fluoride in endothermic coolants and refrigeration. This move is expected to help the market grow in this area, as production companies can access patents for free, promoting innovation and development in the industry.
Hydrogen Fluoride Market Competitive landscape:
The following are companies operating in the global hydrogen fluoride market: Mexichem S.A.B de C.V. from Mexico, Sinochem Lantian Co., Ltd. from China, 3F Industries Ltd. from India, Honeywell International Inc. from the U.S., Fluorochemie Gruppe from Germany, Solvay S.A. from Belgium, Dongyue Group from China, Air Products and Chemicals Inc. from the U.S., Lanxess AG from Germany, Do-Fluoride New Materials Co., Ltd. from China, Daikin Industries Ltd. from Japan, Derivados del Fluor from Spain, and Fubao Group from China.
These companies are involved in the manufacturing, distribution, and supply of hydrogen fluoride in various forms such as gas and liquid. They cater to different industries such as chemicals, mining and metallurgical, etching, pharmaceuticals, and others. The companies operate in different regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The market players are continuously striving to enhance their product portfolio and expand their global reach through strategic mergers and acquisitions. For instance, in February 2021, Evonik Thanatos Chemical Industries GmbH (Germany) acquired Fluorochemie Gruppe (Germany) to focus on sustainable raw material processing and distribution. Moreover, in October 2021, Daikin Industries Ltd. (Japan) granted free access to its patents pertaining to the use of fluoride in endothermic coolants and refrigeration, which is expected to boost the market growth by providing free patent accesses to production companies.
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