Hydrofluoric Acid Market Is Expected To Reach USD 3.45 Million By 2028


 San Francisco, 31 Aug 2023: The Report Hydrofluoric Acid Market Size, Share & Trends Analysis Report By Grade (Anhydrous, Diluted), By Application (Fluorocarbon, Metal Pickling), By Region (North America, EU, APAC), And Segment Forecasts, 2022 - 2030

The global hydrofluoric acid market size is expected to reach USD 1.69 billion by 2030, according to a new study by Grand View Research, Inc. The market is estimated to witness a CAGR of 5.6% during the forecast years. Increasing the consumption of hydrofluoric acid in the production of fluorochemicals and fluorine components worldwide is likely to boost the demand over the forecast period. It is an aqueous form of hydrogen fluoride and is mainly used for industrial purposes, such as metal cleaning, glass etching, and electronics production among others. It is also used in home rust removers. There are mainly two grades of the product available in the market; anhydrous and diluted hydrofluoric acid. The demand for anhydrous hydrofluoric acid is rising as it is less toxic and provides better quality at low temperatures.

A rise in the production level of fluorochemicals in the U.S. and Germany is further favoring the global demand. In the Asia Pacific region, the increasing production of fluorocarbons and the presence of large-scale manufacturers are expected to boost the market growth. The product demand is anticipated to rise in India during the forecast period on the account of the increasing production of aluminum and aluminum products wherein hydrofluoric acid is a key raw material. The global market is highly fragmented with the presence of numerous players in both developed and developing economies. Key players are focusing on mergers and acquisitions to increase their presence throughout the value chain. The majority of the industry players are focusing on product advancements aiming at the development of new products with eco-friendly characteristics to cater to a broader application market.

Access Research Report of Hydrofluoric Acid Market @ https://www.grandviewresearch.com/industry-analysis/hydrofluoric-acid-market-report

Hydrofluoric Acid Market Report Highlights

  • The anhydrous grade segment accounted for the largest share of the global revenue in 2021 due to the rising demand in various applications, such as surfactants, fluorochemicals, and metal cleaners among others
  • Metal pickling emerged as the fastest-growing application segment in 2021 and is likely to witness a steady CAGR from 2022 to 2030 due to the high growth in steel production in the past few years
  • Fluorocarbon emerged as the largest application segment in 2021 due to the increased production levels across different countries including China, India, the U.S., and Germany
  • Moreover, the rising demand for air conditioning and refrigerating systems is expected to drive the segment
  • Asia Pacific is projected to witness the fastest CAGR over the forecast period due to the abundance of raw material along with the presence of numerous large-scale manufacturers

Hydrofluoric Acid Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 1.08 billion

Revenue forecast in 2030

USD 1.69 billion

Growth rate

CAGR of 5.6% from 2022 to 2030

Base year for estimation

2021

Historical data

2018 - 2020

Forecast period

2022 - 2030

List of Key Players of Hydrofluoric Acid Market

  • Daikin
  • Dongyue Group
  • Sinochem
  • Yingpeng Chemical
  • Honeywell International Inc.
  • Stella Chemifa Corp.
  • Koura Global
  • Lanxess
  • Solvay

Access Press Release of Hydrofluoric Acid Market @ https://www.grandviewresearch.com/press-release/global-hydrofluoric-acid-market

 

Comments

Post a Comment

Popular posts from this blog

Asia Pacific PoC Diagnostics Market Growth Opportunities, Industry Analysis And Forecast: Grand View Research Inc.

Image
San Francisco, 18 March 2020 :  The Report   Asia Pacific PoC Diagnostics Market  Analysis And Segment Forecasts To 2020 The Asia Pacific point of care (PoC) diagnostics market is expected to reach USD 5,427.1 million by 2020, according to a new study by Grand View Research, Inc. Growing base of geriatric population and the ability to render immediate results and improve patient care coupled with rising market penetration of PACS (picture archiving and communication systems) and EMR (electronic medical records) are expected to drive demand over the next six years. Skilled staff shortages, especially pertaining to the field of diagnostics are also expected to accelerate the market penetration rates of PoC products, by expediting lab automation processes. Rising demand for home healthcare and other healthcare establishments catering to the elderly population and initiatives undertaken by governments to shorten hospital stays by establishing out-patient care models are also expect
Read more

U.K. Point Of Sale Software Market To Expand Industry Growth At USD 1.05 Billion By 2028

Image
  San Francisco, 21 Jan 2022:   The Report  U.K. Point Of Sale Software Market  Size, Share & Trends Analysis Report By Application (Fixed POS, Mobile POS), By Deployment, By Organization Size, By End-user, And Segment Forecasts, 2021 - 2028 The global U.K. point of sale software market size is expected to reach USD 1.05 billion by 2028, expanding at a CAGR of 8.1% from 2021 to 2028, according to the new study conducted by Grand View Research, Inc. The integration of a Point-Of-Sale (POS) solution with capabilities such as sales reports monitoring, cash flow recording, product demand analysis, tracking delivery status, and inventory management ensure systematic functioning and upscaling of a business. The adoption of POS software is directly impacted by the demand for POS terminals, which is witnessing growth in demand due to changing lifestyles and government policies. However, the COVID-19 pandemic disrupted the industry's business, wherein retail stores, restaurants, and hot
Read more