Global Market for Hydrofluoric Acid Estimated to Reach USD 4.5 Billion by 2027, Driven by Growing Demand for Fluorinated Derivatives and AHF Grade

DUBLIN, July 12, 2023 /PRNewswire/ -- The "Global Hydrofluoric Acid Market by Grade (AHF, DHF (above 50% concentration) and DHF (below 50% concentration)), Application, and Region (Asia Pacific, North America, Europe, South America, Middle East & Africa) - Forecast to 2027" report has been added to  ResearchAndMarkets.com's offering.

The hydrofluoric acid market is poised for significant growth, with an estimated value of USD 3.4 billion in 2022 and projected to reach USD 4.5 billion by 2027, exhibiting a CAGR of 5.9% during the forecast period.

The market is fueled by various factors, including the increasing demand for fluorinated derivatives and the AHF (Anhydrous Hydrofluoric Acid) grade.

The AHF grade, known for its clear and colorless properties, undergoes a reaction of sulphuric acid with dry fluorspar in the Prereactor, and the reaction is completed in an indirectly heated rotary kiln. AHF is a crucial feedstock for the production of fluorocarbons used in refrigeration systems. The growing urbanization, improving living standards, and rising income levels contribute to the rising demand for AHF grade during the forecast period.

Hydrofluoric acid finds extensive use in the production of fluorinated derivatives, particularly fluorine-containing compounds such as fluorocarbons, fluoropolymers, and fluorinated solvents. These derivatives are widely utilized in various industries including electronics, automotive, and aerospace.

However, it is important to handle and store hydrofluoric acid with caution due to its hazardous nature. Despite the challenges, the increasing income levels and improving living standards drive the demand for hydrofluoric acid, especially in the production of fluorinated derivatives.

The Asia Pacific region is expected to witness the highest compound annual growth rate (CAGR) in the hydrofluoric acid market during the forecast period. Countries such as India, China, Japan, South Korea, Taiwan, and others are driving the growth in this region.

Rapid economic expansion, growing developmental activities, urbanization, and rising demands for residential and non-residential structures contribute to the increased demand for hydrofluoric acid.

Additionally, industries such as electronics, semiconductors, and others are experiencing significant growth, further propelling the demand for hydrofluoric acid in the region.

Premium Insights

• Increasing Demand from Various Applications to Drive Market
• China and Ahf Grade Dominated Hydrofluoric Acid Market in 2021
• Hydrofluoric Acid Market in China to Witness Highest CAGR

Market Dynamics

Drivers

• Extensive Usage in Refrigerants, Hydrofluorocarbons, and Hydrofluoroolefins
• Rising Demand for Fluorine Compounds
• Increased Industrial Applications

Restraints

• Raw Material Price Fluctuations
• Stringent Regulations on Use of Fluorocarbon Refrigerants

Opportunities

• Use of Hydrofluoric Acid in Glass Etching & Cleaning Applications

Challenges

• Toxic and Hazardous Effects of Hydrofluoric Acid
• High Transportation Cost

Companies Mentioned

• Buss Chemtech Ag
• Daikin
• Derivados Del Fluor
• Dongyue Group Ltd.
• Fluorchemie Group
• Fluorsid S.P.A.
• Fubao Group
• Fujian Kings Fluoride Industry Co., Ltd.
• Fujian Shaowu Yongfei Chemical Co., Ltd.
• Gulf Fluor
• Honeywell International Inc.
• Jiangxi Chinafluorine Chemical Co., Ltd.
• Lanxess
• Merck KGaA
• Morita Chemical Industries
• Navin Fluorine International Limited
• Orbia
• Recent Developments
• Shandong Shing Chemical Co., Ltd.
• Shaowu Huaxin Chemical Co., Ltd.
• Soderec International
• Solvay
• Srf
• Stella Chemifa Corporation
• Yingpeng Group
• Zhejiang Sanmei Chemical Ind Co., Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/c0h5k

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SOURCE Research and Markets