Hydrofluoric Acid market forecast 2023-2032 - Outlook, Industry Share, Trends and Growth Analysis | Stella Chemifa Corp, Solvay SA, Honeywell International Inc, Zhejiang Sanmei Chemical Ind.Co. Ltd, Do-Fluoride New Materials Co

As per The Business Research Company's Hydrofluoric Acid Opportunities And Strategies Market Report 2023, The global hydrofluoric acid market reached a value of nearly $1,333.6 million in 2022, having grown at a compound annual growth rate (CAGR) of 3.3% since 2017. The market is expected to grow from $1,333.6 million in 2022 to $1,718.7 million in 2027 at a rate of 5.2%. The market is then expected to grow at a CAGR of 5.8% from 2027 and reach $2,278.2 million in 2032.    

Government support is expected to drive the growth of the hydrofluoric acid market going forward. Growing government efforts to raise public awareness of the items that are offered are affecting the market's overall expansion. For instance, in December 2022, Brenntag SE, a Germany-based chemical distribution company, established a new 90,000-m2 facility in Zarate, Argentina, for the distribution of chemical products. The new investment will consolidate activities in the province of Buenos Aires, increase service standards and excellence for consumers and enable an increase in the number of chemical materials. Therefore, government support is expected to contribute to the hydrofluoric acid market expansion.

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Product launches are a key trend gaining traction in the hydrofluoric acid market. Major companies operating in hydrofluoric acid are focusing on product launches and developing new products to strengthen their position in the market. For example, in 2021, TSMC (Taiwan Semiconductor Manufacturing Company Limited), a Taiwan-based company that manufactures semiconductors, launched the first hydrofluoric acid waste regeneration system. With this technique, 500 tonnes less hydrofluoric acid waste was outsourced and 150 tonnes more cryolite was created. A benefit of more than NT$ 400 million ($13.10 million) per year is anticipated from the implementation of this system by TSMC in other fabrications by 2023. It is anticipated that this system will reduce the amount of hydrofluoric acid waste that is currently being outsourced by about 46,000 tonnes and produce recycled products equivalent to about 12,000 tonnes annually.

The top opportunities in the hydrofluoric acid market segmented by product type will arise in the industrial hydrofluoric acid segment, which will gain $220.6 million of global annual sales by 2027. The top opportunities in the hydrofluoric acid market segmented by grade will arise in the anhydrous segment, which will gain $231.6 million of global annual sales by 2027. The top opportunities in the hydrofluoric acid market segmented by application will arise in the fluorocarbon segment, which will gain $218.5 million of global annual sales by 2027. The hydrofluoric acid market size will gain the most in China at $132.4 million.

Hydrofluoric Acid Market Segmentation:

The Hydrofluoric Acid market is segmented by product type, by grade and by application.

By Product Type-
The hydrofluoric acid market is segmented by product type into
a) Electronic Hydrofluoric Acid
b) Industrial Hydrofluoric Acid

By Grade-
The hydrofluoric acid market is segmented by grade into
a) Anhydrous
b) Diluted

By Application -
The hydrofluoric acid market is segmented by application into
a) Fluorocarbon
b) Fluorinated Derivatives
c) Metal Pickling
d) Glass Etching
e) Oil Refining
f) Other Applications

Major players in the Hydrofluoric Acid market include Stella Chemifa Corp, Solvay SA, Honeywell International Inc, Zhejiang Sanmei Chemical Ind.Co. Ltd, Do-Fluoride New Materials Co.

The regions covered in the global Hydrofluoric Acid market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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The latest report from The Business Research Company, 'Global Hydrofluoric Acid Opportunities And Strategies Market Report - Forecast To 2032,' provides a comprehensive global perspective with data and statistics from 60+ geographies, analyzing 7000+ market segments. The regional and country breakdowns section offers insights into each geography's market analysis, size, historic and forecast growth, and key strategies for industry competitiveness.

Hydrofluoric Acid Market Report Table Of Content

1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
……
18. Competitive Landscape And Company Profiles
19. Key Mergers and Acquisitions
20. Opportunities And Strategies
21. Hydrofluoric Acid Market, Conclusions And Recommendations
22. Appendix

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