Pune, Oct. 10, 2022 (GLOBE NEWSWIRE) -- The global anhydrous hydrogen fluoride market size was valued at USD 2.40 billion in 2021. The market is expected to grow from USD 2.55 billion in 2022 to USD 3.60 billion by 2029, exhibiting a CAGR of 5.1% during 2022-2029. Strong demand for fluoride gas from the end-use industries and its extensive adoption for aluminum production may bolster the industry’s progress. Fortune Business Insights™ shares this information in its report titled “Anhydrous Hydrogen Fluoride Market, 2022-2029.”
List of Key Players Profiled in the Report:
- Solvay SA (Belgium)
- The Linde Group (Ireland)
- DERIVADOS DEL FLUOR (Spain)
- HaloPolymer, OJSC (Russia)
- Arkema (France)
- Honeywell International (U.S.)
- NFIL (India)
- Foosung Co. Ltd. (South Korea)
- Foshan Nanhai Double Fluoride Chemical Co., Ltd. (China)
- Fubao Group (China)
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Anhydrous Hydrogen Fluoride Market Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast CAGR | 5.1% |
| 2029 Value Projection | USD 3.60 billion |
| Base Year | 2021 |
| Anhydrous Hydrogen Fluoride Market Size in 2021 | USD 2.40 billion |
| Historical Data | 2018-2020 |
| No. of Pages | 155 |
| Segments Covered | By Product Type, By Age- Group, By Distribution Channel, By Region |
| Anhydrous Hydrogen Fluoride Market Growth Drivers | Increasing Demand from High-income Groups to Favor Growth |
| Rising Number of Wealthy Population to Boost Market Expansion |
Segments
<99.90% Segment to Lead Owing to Robust Demand from Chemical Manufacturing Sector
By product type, the market is segmented into <99.90% and >99.90%. The <99.90% segment is anticipated to dominate the market due to robust demand from the chemical manufacturing sector.
Chemical Segment to Hold Dominant Revenue Share Backed by Extensive Fluorochemical Applications
Based on application, the market is classified into chemical, mining, metallurgical, and others. The chemical segment is expected to hold a major revenue share due to extensive fluorochemical applications.
Geographically, the market is grouped into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Drivers and Restraints
Rising Demand for Consumer Goods Materials Produced from Anhydrous Hydrogen Fluoride (AHF) to Elevate the Industry’s Growth
AHF is utilized to produce several fluorine-containing chemicals. The robust demand for consumer goods materials produced from AHF may foster the industry’s growth. Furthermore, the increasing adoption of AHF in several modern-day applications is likely to increase sales. Moreover, the increasing use of gas for producing aluminum, electrical components, fluorescent light bulbs, high octane gasoline, plastic products, refrigerants, pharmaceuticals, and herbicides is expected to boost AHF demand. These factors may drive the anhydrous hydrogen fluoride market growth.
However, strict regulations on adopting AHF may hamper the market’s growth.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/anhydrous-hydrogen-fluoride-ahf-market-103035
Regional Insights
Rapid Development of the Chemical & Metal Sector to Bolster Industry Growth in Asia Pacific
Asia Pacific is projected to dominate the anhydrous hydrogen fluoride market share due to the rapid growth of the chemical & metal industry. The market in Asia Pacific stood at USD 1.22 billion in 2021 and is expected to gain a huge portion of the global market share in the coming years. Furthermore, the rising demand for consumer goods is expected to fuel the industry’s growth.
In Europe, the presence of a developed pharmaceutical sector may enhance anhydrous hydrogen fluoride adoption. Further, robust demand for chemicals for metal extraction and metallurgical operations may elevate the industry’s progress.
In North America, extensive chemical production may foster anhydrous hydrogen fluoride demand. Furthermore, rising demand for the product for several applications, such as aluminum, electronics, water purification, nuclear, elastomers, coatings, glass, pharmaceuticals, agrochemicals, steel, refrigeration, polymers, and solar, is expected to foster the industry’s growth.
Competitive Landscape
Key Players Devise Acquisitions to Magnify their Market Reach
The prominent companies operating in the market devise acquisitions to bolster their market reach. For example, Desmet Ballestra Group acquired Buss ChemTech AG, a Swiss-based hydrogen fluoride technology development company, in May 2021. This acquisition may enable the companies to bolster their market reach in European markets and improve their R&D process. Further, major players devise mergers, partnerships, research and development, and others to enhance their market position.
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Table of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Trends
- Insights on Regulatory Scenario
- PEST Analysis
- PORTER’s Five Forces Analysis
- Pricing Analysis
- Covid-19 Impact Analysis
- Supply Chain Challenges
- Steps taken by companies to overcome the impact
TOC Continued…!
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Key Industry Development
- March 2022- Foosung Co. Ltd., Koura, and Mayor of Kędzierzyn-Koźle, Poland, signed a triparte letter of intent for the supply of Foosung Co. Ltd. inorganic fluorine compounds for use in lithium-ion batteries
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