Press release
Rising Demand From Chemical Industries Fuels Growth In The Hydrofluoric Acid Market Driver: A Major Catalyst in the Evolution of the Hydrofluoric Acid Market in 2025
Hydrofluoric Acid Market
The surge in need from the chemical sector is predicted to spur the expansion of the hydrofluoric (HF) acid market. Hydrofluoric acid plays a crucial role as a reagent in the production of fluorine-based polymers. It is employed in fabricating numerous organ fluorine substances such as polytetrafluoroethylene (Teflon), fluorocarbons, and freon-based refrigerants. Besides, hydrofluoric acid contributes to the creation of several high-volume inorganic fluoride compounds. Therefore, the chemical industry's utilization of hydrofluoric acid is boosting its demand. For example, in July 2023, the US Bureau of Labor Statistics, an agency owned by the US government, reported that the trade value of the chemical products manufactured and exported from the U.S. in 2022 was $288.0 billion. This represented a 13.4% increase from 2021. Additionally, ACS Publications, an American provider of premium scholarly journals, relayed that the American chemical industry experienced recovery in 2021 with a 1.4% growth in production. It is also projected that the growth in chemical production will bounce back to 4.3% in 2022. Therefore, the escalating demand from chemical industries is fueling the hydrofluoric acid market's growth.
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What is the projected compound annual growth rate (CAGR) of the hydrofluoric acid market from 2025 to 2034, and what factors influence it?
In previous years, the hydrofluoric acid market has witnessed significant growth. Its market size is anticipated to escalate from $1.49 billion in 2024 to around $1.57 billion in 2025, signifying a compound annual growth rate (CAGR) of 6.0%. The impressive growth in the historical period is related to robust economic advancement in emerging markets, growing demand for chemical products, and a rise in the utilization of aluminum.
Anticipations depict a robust expansion of the hydrofluoric acid market size in the coming years. The market is projected to escalate to $2 billion by 2029, with a compound annual growth rate (CAGR) of 6.1%. The growth during the projection period can be connected with government backing and the increasing employment of industrial and residential cleaners. Primary trends during the prediction period encapsulate product rollouts, the debut of new pump alternatives, innovative progressions, and the initiation of novel purification processes.
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What new trends are reshaping the hydrofluoric acid market and its opportunities?
Firms in the hydrofluoric acid market, such as Taiwan Semiconductor Manufacturing Company Limited, are utilising strategic alliances to develop innovative products. These partnerships allow hydrofluoric acid businesses to pool their resources and knowledge, improve their research and development endeavors, widen their consumer base, and speed up product commercialization, all of which contribute to innovation and growth in the industry. For instance, in February 2023, TSMC, a Taiwanese semiconductor producer, formed a strategic alliance with Suppliers to boost the sustainability of hydrofluoric acid production. They plan to achieve this by using phosphate fertilizer waste, thereby minimizing their dependence on fluorspar and reducing carbon emissions. This effort aligns with TSMC's dedication to green innovation and the promotion of a low-carbon supply chain in the semiconductor production sector.
What are the major segments of the hydrofluoric acid market and their role in driving growth?
The hydrofluoric acid market covered in this report is segmented -
1) By Product Type: Electronic Hydrofluoric Acid, Industrial Hydrofluoric Acid
2) By Grade: Anhydrous, Diluted
3) By Application: Fluorocarbon, Fluorinated Derivatives, Metal Pickling, Glass Etching, Oil Refining, Other Applications
Subsegments:
1) By Electronic Hydrofluoric Acid: Ultra-Pure Hydrofluoric Acid, Specialty Grade Hydrofluoric Acid For Electronics
2) By Industrial Hydrofluoric Acid: Anhydrous Hydrofluoric Acid, Aqueous Hydrofluoric Acid, Technical Grade Hydrofluoric Acid For Various Applications
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Which regions are key players in the growth of the hydrofluoric acid market?
Asia-Pacific was the largest region in the hydrofluoric acid market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hydrofluoric acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the hydrofluoric acid market?
Major companies operating 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. Ltd., Lanxess AG, Daikin Industries Ltd., Koura Global, Dongyue Group Co. Limited., Fluorsid Group Srl, A. B. Enterprises, Triveni Interchem Pvt. Ltd, Choice Organochem Llp., Siddhi Vinayak Industries, Wuhan Wanbangde Industrial & Trade Co Ltd, Xinyi Chemicals Industry Company LTD, Shanshui Chemicals Industrial Co. Ltd, Sinchem Industry Co. Ltd., Zhejiang Kaisn Flourochemical Co. Ltd, Coogee, Brenntag SE, CSC Jäklechemie GmbH & Co. KG., Rexchem UK Limited, Penta chemicals, Sigma-Aldrich, SolvChem, RICCA Chemical, the Chemours Company, Fisher Scientific, Merck Millipore, Alphachem Limited, Correias Mercúrio, Pall Corporation, Mexichem Brasil, Gulf Fluor LLC, ICL Group Ltd, Kemcore, Desmet Ballestra, Orbia, Chemifa Corp.
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What Is Covered In The Hydrofluoric Acid Global Market Report?
• Market Size Forecast: Examine the hydrofluoric acid market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the hydrofluoric acid market for a structured understanding.
• Key Players Overview: Analyze major players in the hydrofluoric acid market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the hydrofluoric acid market.
• Segment Contributions: Evaluate how different segments drive overall growth in the hydrofluoric acid market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the hydrofluoric acid market.
• Industry Challenges: Identify potential risks and obstacles affecting the hydrofluoric acid market.
• Competitive Landscape: Review strategic developments in the hydrofluoric acid market, including expansions, agreements, and new product launches.
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