Hydrofluoric Acid is the primary source of the fluoride ion, which in turn forms the basis of a vast range of industrial, pharmaceutical, polymer, electronics, petroleum, personal care, agrochemical, and fine chemical products. The hydrofluoric acid solutions come under highly hazardous chemicals. Thus its application and handling are monitored by the Federal Occupational Safety and Health Administration (OSHA) which have set a permissible exposure limit for the proper usage of the end-products.
The global hydrofluoric acid market was worth $XX million in 2017 and is forecasted to reach $XX million by 2025, growing at a CAGR of XX% during the forecast period (2018-2025).
Global Hydrofluoric Acid Market – Market Dynamics
The growing demand of hydrofluorocarbons, manufactured from hydrochloric acid, in refrigeration, air conditioning, building insulation, and fire extinguishing systems would drive the market growth of hydrofluoric acid market. The use of hydrofluoric acid in cookware products results in a premium matte finish with better enamel-resin retention, while in cable wires, hydrofluoric acid reduces smoke toxicity and equipment damage. The growth in sales of cookware and cable wires is thereby expected to propel the market demand of hydrofluoric acid.
Hydrofluoric acid is also used as a raw material in the manufacturing of aluminum fluoride, which in turn is used to manufacture aluminum. The rise in the application of aluminum end-products in the automotive and industrial sector would thereby increase the market demand for hydrofluoric acid. The metal and ceramic industries are also using hydrofluoric acid for metal pickling and glass etching applications, further driving market growth.
The stringent environmental regulations monitoring the application of ozone-depleting chlorofluorocarbons and hydrochlorofluorocarbons have acted as barriers to market growth. Human inhalation exposure to gaseous hydrogen fluoride can cause severe respiratory damage. Thus proper attention must be paid while handling of chemicals. The high cost associated with transportation of anhydrous hydrofluoric acid also acts as a deterrent factor. Governmental organizations and environmental agencies focus on ways to reduce the damage done by fluorocarbons to the environment. Thus manufacturers and consumers are compelled to switch to alternatives. For instance, the prevalent use of hydrofluoric olefins, possessing lower global warming potential, is beginning to threaten the growth of the hydrofluoric acid market.
The rise in the application of hydrofluoric acid in glass etching, metal pickling, and cleansing procedures in various other end-user industries such as metal, electronics, oil & gas, and pharmaceutical sectors is expected to present new opportunities of business expansion for major market players.
Global Hydrofluoric Acid Market – Segment Analysis
The global hydrofluoric acid is segmented based on grade into anhydrous and aqueous hydrofluoric acid. The anhydrous hydrofluoric acid (AHF) is more widely used owing to its application in fluorocarbon and fluorinated derivative production. The aqueous hydrofluoric acid is also expected to witness a stable growth owing to its application as etching agents in the semiconductor industry.
Based on application, the global hydrofluoric acid is categorized into fluorocarbon production, glass etching and cleaning, metal pickling, oil refining, and others. The fluorocarbon production is the leading segment by market share owing to the high demand of hydrofluoric acid as a raw material in the production procedure of chlorofluorocarbons and hydrochlorofluorocarbons. The application of hydrofluoric acid in glass etching and metal pickling industries is also on the rise, further expected to boost overall market revenue.
Global Hydrofluoric Acid Market – Geographical Analysis
The global hydrofluoric acid market is segmented by geography into North America, South America, Europe, Asia-Pacific, and Rest of the World (RoW).
Asia-Pacific is the leading segment by region owing to the presence of fluorspar, a vital raw material used in the manufacturing of hydrofluoric acid. China is a leading contributor to the regional growth, with more than half of the global fluorspar reserves present in the country. The presence of key market players in the region also helps propel the regional market growth, with Daikin Industries, Ltd., Do-Fluoride Chemicals Co., Ltd., Sinochem Group, and Zhejiang Yipeng Chemical Co., Ltd. focusing on strengthening their market position in the region. For instance, in August 2017, Daikin Industries, Ltd. established a new subsidiary in Bangkok, Thailand, Daikin Chemical Southeast Asia Co., Ltd., to expand the fluorochemical business in the growing markets of Southeast Asia.
Global Hydrofluoric Acid Market – Competitive Analysis
The global hydrofluoric acid market is dominated by key players including Daikin Industries, Ltd., Sinochem Group, Lanxess Aktiengesellschaft, and Honeywell International Inc., focusing on product development to maintain a competitive edge. The competitive scenario is intense, with all major market players looking to expand their global business through acquisitions and mergers. For instance, in August 2017, Daikin Industries, Ltd. agreed to acquire Heroflon S.p.A., an Italian manufacturer of fluoropolymer compounds, keeping in line with the company strategy to increase global sales and meet consumer needs.
The market players of the global hydrofluoric acid market include –
1. Daikin Industries, Ltd.
2. Do-Fluoride Chemicals Co., Ltd.
3. Fluorchemie Gruppe
4. Honeywell International Inc.
5. Lanxess Aktiengesellschaft
6. Mexichem S.A.B. de C.V.
7. Sigma-Aldrich Corporation
8. Sinochem Group
9. Solvay S.A.
10. Zhejiang Yipeng Chemical Co., Ltd.
• The anhydrous hydrofluoric acid is the leading segment owing to its extensive application in fluorocarbon and fluorinated derivative production. The fluorocarbon production is the leading segment by application owing to an increase in production of chlorofluorocarbons and hydrochlorofluorocarbons.
• Geographically, Asia-Pacific is the leading region owing to the presence of large reserves of fluorspar, an essential raw material in the manufacturing of hydrofluoric acid. China is the leading contributor to the regional growth, with the presence of major regional players further driving the demand for hydrofluoric acid.
• The companies are focusing on specialty chemicals, aiming to improve the sustainability of their productions. For instance, in March 2018, Solvay Specialty Polymers agreed to sell its Porto Marghera plant, which produces hydrofluoric acid, to Alkeemia, part of the Italian Fluorsid Group.
Scope of the Report
The report covers the factors impacting the market, Porter 5 Forces, Competitive Scenario, Price trend analysis, Product Benchmarking, and company profiles. Based on grade, the market is segmented into anhydrous and aqueous hydrofluoric acid. Hydrofluoric acid Market is segmented by application into fluorocarbon production, glass etching and cleaning, metal pickling, oil refining, and others. Geographically, the market is segmented into - North America, South America, Europe, Asia Pacific and Rest of the World.
Why Purchase the Report?
• Visualize the composition of the Hydrofluoric acid market across each indication, regarding type and treatment options, highlighting the vital commercial assets and players.
• Identify commercial opportunities in Hydrofluoric acid market by analyzing trends and co-development deals.
• Excel data sheet with thousands of data points of the Hydrofluoric acid market - level 4/5 segmentation.
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• Equipment Suppliers/ Buyers
• Service Providers/ Buyers
• Industry Investors/Investment Bankers
• Education & Research Institutes
• Research Professionals
• Emerging Companies
Chapter 1 Methodology and Scope
1.1 Research methodology
1.2 Scope of the Report
Chapter 2 Global Hydrofluoric Acid Market– Trends
2.1 Key Trends & Developments
Chapter 3 Global Hydrofluoric Acid Market – Industry Analysis
3.1. Industry Impact Factors (Drivers & Restraints)
3.1.1. Market Drivers
3.1.2. Market Restraints
3.2. Competitive Intensity- Porter 5 Forces
3.2.1. Buyers Power
3.2.2. Suppliers Power
3.2.3. Industry Competition
3.2.4. Threat of new entrants
3.2.5. Threat of Substitutes
Chapter 4 Global Hydrofluoric Acid Market- Product Analysis
4.1. By Grade
4.1.1. Anhydrous Hydrofluoric Acid
4.1.2. Aqueous Hydrofluoric Acid
4.2. By Application
4.2.1. Fluorocarbon Production
4.2.2. Glass Etching And Cleaning
4.2.3. Metal Pickling
4.2.4. Oil Refining
Chapter 5 Global Hydrofluoric Acid Market- Geographical Analysis
5.1. North America
5.2. South America
5.2.3. Rest of South America
5.3.2. United Kingdom
5.3.4. Rest of Europe
5.4. Asia Pacific
5.4.5. Rest of Asia-Pacific
Chapter 6 Global Hydrofluoric Acid Market- Competitive Landscape
6.1. Competitive scenario
6.2. Key Strategies adopted by Manufacturers
6.3. Product Benchmarking
Chapter 7 Global Hydrofluoric Acid Market- Company Profiles
7.1. Daikin Industries, Ltd.
7.2. Do-Fluoride Chemicals Co., Ltd.
7.3. Fluorchemie Gruppe
7.4. Honeywell International Inc.
7.5. Lanxess Aktiengesellschaft
7.6. Mexichem S.A.B. de C.V.
7.7. Sigma-Aldrich Corporation
7.8. Sinochem Group
7.9. Solvay S.A.
7.10. Zhejiang Yipeng Chemical Co., Ltd.
Chapter 8 Global Hydrofluoric Acid Market- Appendix