According to the current analysis
of Reports and Data, The global Hydrofluoric
Acid (HF) Market was valued at USD 1.60 million in 2018 and is
expected to reach USD 2.42 million by the year 2026, at a CAGR of 5.3%. This
market is likely to follow a modest growth route with its drivers and
restraints in place. Hydrofluoric acid produced by treatment of fluorite with
sulfuric acid. It used in various industries such as mining, chemicals,
refining, silicon chip fabrication, and others. Fluorocarbons which are the
major types of refrigerants used globally are the most significant application
segment of this acid.
Despite having several
advantages, Hydrofluoric Acid is toxic for individuals, as it can damage the
lungs and cornea of eyes permanently. There is considerable concern regarding
the workers who have to deal with the acid. Moreover, there are environmental
concerns as well because of the hazardous effects of Hydrofluoric Acid. It is
because of these reasons that this market does not have a smoothly rising CAGR
over the forecast years.
To identify the key trends in
the industry, click on the link below:
Further key findings from
the report suggest-
- Hydrofluoric acid majorly used as an intermediate
material for the production of a number of a fluorochemical which used as
a refrigerant and air conditioning agent. It can use in the anhydrous form
- anhydrous hydrofluoric acid (AHF) - or the dilute form - aqueous
hydrofluoric acid. The dilution ratio can vary as per the requirements. It
is a significant input for this application.
- Metal Pickling, which is expected to register a CAGR
of almost 5% during the forecast years, will add a lot to the demand for
Hydrofluoric Acid. The acid has a property of dissolving oxides and other
impurities, and, hence, used at several stages in the processing of metals
such as carbon steel, stainless steel, and titanium.
- Hydrofluoric acid used as to producing several
fluorinated derivatives such as fluoride, fluoropolymers, and
Fluorosurfactants. The significant fluorides produced using hydrofluoric
acid are Na3AlF6 and AlF3. These, in turn, have a high demand due to the
expanding aluminum industry.
- An evolving foreign business and flexible government
laws for foreign trade in the Middle East will result in impressive growth
in the market for fluorocarbons in the region during 2019-2026.
- Anhydrous Hydrofluoric Acid is the most popular grade
type, and it held a market share of more than 50.5% in the global market
during the base year 2018. However, this grade has a high transportation
cost which is a discouraging factor for the end-use industries of
Hydrofluoric Acid.
- Across the world, most of the countries are planning
to phase out the use of hydrochlorofluorocarbons (HCFCs) and
hydrofluorocarbons (HFCs) by imposing stringent regulations to limit their
consumption. Alternatives are expected to show up and seriously affect the
global market
- Globally, from a regional perspective, China is
anticipated to lead the global Market, both in terms of value (US$ ) and
volume (MT) owing to readily available raw material and workers at a low
price, so that the manufacturers can offer their products at relatively
lower prices. Increase in growth for fluorochemicals refrigerant and air
conditioning system is expected to create significant opportunities in the
market. Additionally, India is also anticipated to expand their production
facilities at a relatively higher growth rate during the forecast period.
Europe is expected to witness for sluggish growth due to the stringent
regulations on the use of fluorochemical and its derivatives. However, the
consumption of hydrofluoric acid (HF) is anticipated to exhibit low volume
and high growth in the coming forecast period.
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For the purpose of this study,
Reports and Data have segmented the market on the basis of grade, application,
and region:
Grade (Revenue in USD Million)
(Volume in tons) (2016–2026)
- Anhydrous
- Aqueous
Application (Revenue in USD
Million) (Volume in tons) (2016–2026)
- Fluorocarbon Production
- Fluorinated Derivative Production
- Metal Pickling
- Glass Etching and Cleaning
- Oil Refining
- Uranium Fuel Production
- Others
Regional Outlook (Revenue in
USD Million) (Volume in tons) (2016–2026)
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East and Africa
- Latin America
- Brazil
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