The Hydrofluoric Acid by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).
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The hydrofluoric acid market, as reported by The Business Research Company, has experienced robust growth in recent years, escalating from $1.41 billion in 2024 to an anticipated $1.5 billion in 2024, reflecting a notable compound annual growth rate (CAGR) of 6.3%. This expansion during the historical period can be attributed to the vigorous economic progress in emerging markets, escalating demand for chemical goods, and heightened utilization of aluminum.
Forecasts indicate a continued upward trajectory for the hydrofluoric acid market, with an expected valuation of $1.87 billion by 2028, exhibiting a CAGR of 5.7%. This anticipated growth is underpinned by governmental backing and an increasing deployment of industrial and household cleansers. Noteworthy trends forecasted include the advent of novel products, the introduction of cutting-edge pump alternatives, inventive advancements, and the implementation of refined purification methodologies.
The increasing demand from chemical industries is expected to propel the growth of the hydrofluoric (HF) acid market going forward. In the manufacture of fluorine-containing polymers, hydrofluoric acid is a critical reagent. HF is used to make several organ fluorine chemicals such as polytetrafluoroethylene (Teflon), fluorocarbons, and refrigerants including freon. Hydrofluoric acid is also used to make a variety of high-volume inorganic fluoride compounds. Hence, the use of hydrofluoric acid in chemical industries is driving the demand. For instance, in July 2024, according to the US Bureau of Labor Statistics, a US-based government agency, in the U.S., the trade value of chemical manufacturing products exported in 2022 amounted to $288.0 billion, reflecting a growth of 13.4% compared to the previous year, 2021. Furthermore, in January 2022, according to ACS Publications, a US-based provider of high-quality scholarly journals, the US chemical sector recovered in 2021, with production growing by 1.4%, and it is anticipated that in 2022, the growth rate of chemical output will return to 4.3%. Therefore, the increasing demand from chemical industries is driving the demand for the hydrofluoric acid market.
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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
Top 5 Major Players:
- Stella Chemifa Corp
- Solvay SA
- Honeywell International Inc
- Zhejiang Sanmei Chemical Ind.Co. Ltd
- Do-Fluoride New Materials Co. Ltd.
A pivotal trend pervading the hydrofluoric acid sector is product innovation, where leading enterprises prioritize the development of technologically sophisticated solutions to fortify their market foothold. For instance, in November 2021, HMD Kontro, a UK-based sealless pump engineering and manufacturing entity, unveiled a specialized pump variant tailored for hydrofluoric acid (HF) alkylation applications. The design of the HMD Kontro HF Pump incorporates features addressing operator-specific requirements for the HF alkylation process. Its secondary containment, rated at 40 bar, precludes environmental leakage, thus mitigating operational hazards and associated expenses, aligning with stringent environment, health, and safety (EH&S) objectives. The pump ensures unwavering sealless performance, facilitated by continuous monitoring, inclusive of leak detection mechanisms and safeguards against dry pump operation.
The hydrofluoric acid market report table of contents includes:
1. Executive Summary
2. Hydrofluoric Acid Market Characteristics
3. Hydrofluoric Acid Market Trends And Strategies
4. Hydrofluoric Acid Market – Macro Economic Scenario
5. Global Hydrofluoric Acid Market Size and Growth
32. Global Hydrofluoric Acid Market Competitive Benchmarking
33. Global Hydrofluoric Acid Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Hydrofluoric Acid Market
35. Hydrofluoric Acid Market Future Outlook and Potential Analysis
36. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Hydrofluoric Acid Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Hydrofluoric Acid Market, Segmentation By Grade, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Hydrofluoric Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
…..
Table 74: Stella Chemifa Corp Financial Performance
Table 75: Solvay SA Financial Performance
Table 76: Honeywell International Inc Financial Performance
Table 77: Zhejiang Sanmei Chemical Ind.Co. Ltd. Financial Performance
Table 78: Do-Fluoride New Materials Co. Ltd. Financial Performance
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