Wilmington, Delaware, Nov. 13, 2023 (GLOBE NEWSWIRE) -- Global Hydrofluoric Acid Market size is valued at US$ 2.4 billion in 2023 and is predicted to rise at a substantial CAGR of 5.6% during the forecast period of 2023 and 2030 according to RationalStat analysis.
Market Definition, Market Scope, and Report Overview
HF is a crucial raw ingredient in manufacturing fluorochemicals, a class of compounds containing fluorine. The requirement for HF as a crucial ingredient has been pushed by the demand for fluorochemicals in a variety of sectors. Hydrofluorocarbons (HFCs), which are frequently used as refrigerants and in air conditioning systems, are made using HF. Hydrofluorocarbons (HFCs) have replaced ozone-depleting compounds like chlorofluorocarbons (CFCs) and hydrochlorofluorocarbons (HCFCs), and their demand has increased the requirement for HF.
Additionally, HF is employed in the production of lithium-ion batteries, namely in the preparation of the electrolyte. The necessity for HF in battery manufacture has been influenced by the expansion of the electric car industry and the rise in popularity of portable electronic devices.
- According to a deep-dive market assessment by RationalStat, the hydrofluoric acid market has been analyzed on the basis of market segments, including component, drive, vehicle type, application, and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the hydrofluoric acid market covers market sizes based on market value (US$/EUR Million) and volume (Liters/Tons) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the hydrofluoric acid market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Hydrofluoric Acid Market: Segmental and Market Share Analysis
- Based on the Application, the fluorochemical segment is expected to dominate the market as the Hydrofluoric acid finds a variety of application in chemical laboratories.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 2.4 billion |
| Market Size Forecast | US$ 3.6 billion |
| Growth Rate | 5.6% |
| Dominant Segment | Fluorochemicals Segment |
| Leading Region | North America |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
Some of the prominent players adopt various strategies to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, and partnerships and collaborations are some of the strategies followed by industry players, some of the key developments in the hydrofluoric acid market include,
- In April 2021, EcoGraf announced the acquisition of a battery anode materials facility contract. In order to produce spherical graphite outside of China, that would use an environmentally friendly alternative to traditional hydrofluoric acid purifying techniques.
Some of the prominent players and suppliers operating and contributing significantly to the hydrofluoric acid market growth include Gulf Fluor, Lanxezz AG, Solvay SA, Honeywell International, Buss chemTech Ag, Tanfac Industries Ltd, Merck KGaA, Gujarat Fluorochemicals Ltd, Stella Chemifa Corporation, Soulbrain Co. Ltd, Morita Chemical Industries Co Ltd, SRF Limited, and Fubao Group, among others.
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RationalStat has segmented the hydrofluoric acid market based on grade, application, and region
- Global Hydrofluoric Acid Market Value (US$ Million), Volume (Liters/Tons), and Market Share (2019-2030) Analysis by Grade
- Anhydrous
- Aqueous
- Global Hydrofluoric Acid Market Value (US$ Million), Volume (Liters/Tons), and Market Share (2019-2030) Analysis by Application
- Fluorochemicals
- Steel Pickling and Metal Treatment
- Petroleum Catalyst
- Glass Etching
- Electronics & Semiconductors
- Others
- Global Hydrofluoric Acid Market Value (US$ Million), Volume (Liters/Tons), and Market Share (2019-2030) Analysis by Region
- North America Hydrofluoric Acid Market Value (US$ Million), Volume (Liters/Tons), and Market Share (2019-2030) Analysis by Country
- US
- Canada
- Latin America Hydrofluoric Acid Market Value (US$ Million), Volume (Liters/Tons), and Market Share (2019-2030) Analysis by Country
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Hydrofluoric Acid Market Value (US$ Million), Volume (Liters/Tons), and Market Share (2019-2030) Analysis by Country
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Hydrofluoric Acid Market Value (US$ Million), Volume (Liters/Tons), and Market Share (2019-2030) Analysis by Country
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Hydrofluoric Acid Market Value (US$ Million), Volume (Liters/Tons), and Market Share (2019-2030) Analysis by Country
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Hydrofluoric Acid Market Value (US$ Million), Volume (Liters/Tons), and Market Share (2019-2030) Analysis by Country
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Hydrofluoric Acid Market Value (US$ Million), Volume (Liters/Tons), and Market Share (2019-2030) Analysis by Country
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Key Questions Answered in the Hydrofluoric Acid Report:
- What will be the market value of the hydrofluoric acid market by 2030?
- What is the market size of the hydrofluoric acid market?
- What are the market drivers of the hydrofluoric acid market?
- What are the key trends in the hydrofluoric acid market?
- Which is the leading region in the hydrofluoric acid market?
- What are the major companies operating in the hydrofluoric acid market?
- What are the market shares by key segments in the hydrofluoric acid market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoints to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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