PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1804850
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1804850
The hydrofluoric acid market was valued at USD 3.90 billion in 2024 and is projected to reach USD 5.10 billion by 2030 at a CAGR of 4.58%.
Scope of the Report | |
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Years Considered for the Study | 2020-2030 |
Base Year | 2024 |
Forecast Period | 2025-2030 |
Units Considered | Value (USD Million/USD Billion), Volume (Kilotons) |
Segments | Grade, Application, and Region |
Regions covered | APAC, North America, Europe, Middle East & Africa, and South America |
"Anhydrous hydrofluoric acid (AHF) will grow at the highest CAGR in the market, by grade."
Anhydrous hydrofluoric acid (AHF) is increasingly popular due to its high purity and versatility. The term "anhydrous" indicates it is water-free, which benefits specific applications. A major factor driving demand is its role in producing fluorocarbons such as HFCs and HFOs, commonly used as refrigerants in appliances like refrigerators and air conditioners. Even as older refrigerants are phased out, manufacturing newer, more eco-friendly alternatives still depends on AHF.
"Fluorocarbon production will hold the largest share of the applications market."
The use of hydrofluoric acid to produce hydrofluorocarbons (HFCs) is increasing for several reasons. Many people and businesses worldwide use air conditioners, refrigerators, and freezers, which require HFCs to operate. As more people purchase these products, the demand for HFCs grows, increasing the need for hydrofluoric acid to produce them. Second, some older refrigerants, like CFCs and HCFCs, damage the ozone layer and are now being phased out.
"The Asia Pacific is expected to hold the largest market share during the forecast period."
Hydrofluoric acid usage is rapidly increasing in the Asia Pacific due to several factors. First, this region has become the central hub for semiconductor and electronics manufacturing. Second, production costs are lower because raw materials are easily accessible and cheaper. Third, the region's fast-growing economy leads to higher household incomes, resulting in increased purchases of cars, refrigerators, air conditioners, and other appliances.
In-depth interviews have been conducted with chief executive officers (CEOs), Directors, and other executives from various key organizations operating in the marketplace.
By Company Type: Tier 1: 25%, Tier 2: 42%, and Tier 3: 33%
By Designation: C-level Executives: 20%, Directors: 30%, and Other Designations: 50%
By Region: North America: 20%, Europe: 10%, Asia Pacific: 40%, South America: 10%, and Middle East & Africa 20%
Notes: Other designations include sales, marketing, and product managers.
Tier 1: >USD 1 Billion; Tier 2: USD 500 million-1 Billion; and Tier 3: <USD 500 million
The report covers the following Companies: Honeywell International Inc. (US), Solvay (Belgium), Stella Chemifa Corporation (Japan), Daikin (Japan), LANXESS (Germany), Merck KGaA (Germany), Dongyue Group Ltd. (China), Orbia (Mexico), Yingpeng Group (China), and Fluorchemie Group (Germany).
The study includes an in-depth competitive analysis of these key players in the hydrofluoric acid market, with their company profiles, recent developments, and key market strategies.
Research Coverage
This research report categorizes the hydrofluoric acid market based on grade [AHF, DHF (Below 50% Concentration), and DHF (Above 50% Concentration)], application (production of fluorocarbons, production of fluorinated derivatives, metal pickling, glass etching and cleaning, oil refining, production of uranium fuel, and other applications), and region (the Asia Pacific, North America, Europe, South America, and the Middle East & Africa). The report's scope covers detailed information regarding the drivers, restraints, challenges, and opportunities influencing the growth of the hydrofluoric acid market. A thorough analysis of the key industry players has provided insights into their business overview, products offered, and key strategies associated with the hydrofluoric acid market, such as partnerships, agreements, product launches, expansions, and acquisitions. This report covers a competitive analysis of upcoming startups in the hydrofluoric acid market ecosystem.
Reasons to Buy the Report
The report will offer market leaders/new entrants information on the closest approximations of the revenue numbers for the overall hydrofluoric acid market and the subsegments. This report will help stakeholders understand the competitive landscape, gain more insights into positioning their businesses better, and plan suitable go-to-market strategies. The report will help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.