Global Hydrofluoric Acid Market, By Grade (Anhydrous Hydrofluoric Acid (AHF), Diluted Hydrofluoric Acid (DHF) (Above 50% Concentration), and Diluted Hydrofluoric Acid (DHF) (Below 50% Concentration)), Application (Fluorocarbon Production, Fluorinated Derivative Production, Metal Pickling, Glass Etching and Cleaning, Oil Refining, Uranium Fuel Production, and Others), Type (UP Grade, UP-S Grade, UP-SS Grade, and EL Grade), End-user Industry (Oil and Gas, Chemical Processing, Pharmaceuticals, Electrical and Electronics, and Others) - Industry Trends and Forecast to 2023 to 2031.
Hydrofluoric Acid Market Analysis and Size
In the hydrofluoric acid market, metal processing is a significant application. Hydrofluoric acid formula is used to clean and treat metals, particularly stainless steel and other alloys. The hydrofluoric acid formula, HF, is highly effective in removing oxides, scale, and other impurities from metal surfaces, preparing them for further processing, such as plating, galvanizing, or welding. The acid's ability to dissolve oxides makes it invaluable in refining and purifying metals, enhancing their quality and performance. This application is critical in industries such as aerospace, automotive, and manufacturing, where precision and cleanliness of metal components are essential.
The global hydrofluoric acid market size was valued at USD 2.13 billion in 2023 and is projected to reach USD 3.30 billion by 2031, with a CAGR of 5.6% during the forecast period of 2024 to 2031.
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Grade (Anhydrous Hydrofluoric Acid (AHF), Diluted Hydrofluoric Acid (DHF) (Above 50% Concentration), and Diluted Hydrofluoric Acid (DHF) (Below 50% Concentration)), Application (Fluorocarbon Production, Fluorinated Derivative Production, Metal Pickling, Glass Etching and Cleaning, Oil Refining, Uranium Fuel Production, and Others), Type (UP Grade, UP-S Grade, UP-SS Grade, and EL Grade), End-user Industry (Oil and Gas, Chemical Processing, Pharmaceuticals, Electrical and Electronics, and Others)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, and the Rest of Middle East and Africa
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Market Players Covered
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Honeywell International Inc. (U.S.), Solvay (Belgium), Daikin (Japan), Lanxess (Germany), Stella Chemifa Corporation (Japan), Fluorchemie Group (Germany), DONGYUE GROUP LIMITED (China), Formosa Daikin Advanced Chemicals Co., Ltd. (Taiwan), Merck KGaA (Germany), SINOCHEM GROUP CO., LTD. (China), Fujian Shaowu Yongfei Chemical Co., Ltd. (China), Gulf Fluor (U.A.E.), Morita Chemical Industries Co., Ltd. (Japan), Mexichem S.A.B. de C.V. (Mexico)
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Market Opportunities
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Market Definition
Hydrofluoric acid (HF) is a highly corrosive and toxic solution of hydrogen fluoride in water. It is used in various industrial applications, such as glass etching, metal cleaning, and the production of fluorine-containing compounds. Due to its ability to dissolve glass and metals, it requires careful handling and specialized equipment.
Hydrofluoric Acid Market Dynamics
Drivers
- Growing Demand for Hydrofluoric Acid
Growing demand for hydrofluoric acid demand is fueled by its critical role in various industrial applications, such as glass etching, metal processing, and semiconductor manufacturing. The acid's unique properties make it indispensable for producing high-quality, precise products in these industries. Additionally, the increasing need for hydrofluoric acid in the chemical industry for the synthesis of fluorine-containing compounds, including refrigerants and pharmaceuticals, further boosts its market demand. As industries continue to expand and innovate, the requirement for hydrofluoric acid grows, driving market development.
- Growing Technological Advancements
Innovations in manufacturing processes and applications enhance the efficiency and safety of using hydrofluoric acid in various industries. For instance, advanced monitoring systems and corrosion-resistant materials improve the handling and containment of HF, reducing risks and increasing its adoption. Developments in semiconductor manufacturing, where HF is used for etching and cleaning, also contribute to market growth. Additionally, new methods for producing fluorine-containing compounds more sustainably and efficiently drive demand for hydrofluoric acid in the chemical industry.
Opportunities
- Increased Environmental Regulations
Stringent regulations aimed at reducing emissions, improving workplace safety, and minimizing environmental impact mandate the use of safer and more efficient chemicals like hydrofluoric acid, whose pH level is critical, in industrial processes. Companies are increasingly adopting hydrofluoric acid due to its effectiveness in applications like metal cleaning, chemical production, and semiconductor manufacturing while adhering to these regulations. Furthermore, the demand for cleaner technologies and processes that use chemicals with appropriate pH levels has led to research and development efforts to optimize the use of hydrofluoric acid, fostering innovation and market growth in compliance with environmental standards.
- Rising Economic Development
There is increased demand for various products that utilize hydrofluoric acid as economies grow, such as electronics, automobiles, and construction materials. These industries rely on HF for metal processing, glass manufacturing, and chemical production, driving up consumption. Moreover, expanding industrial sectors in developing countries contribute to higher demand for HF, as it is essential in refining processes and manufacturing of fluorine-based chemicals. This economic growth leads to infrastructure development, increased consumer spending, and technological advancement, all of which support the expansion of the hydrofluoric acid market globally.
Restraints/Challenges
- Fluctuating Raw Material Prices
Hydrofluoric acid is primarily produced from raw materials like fluorspar (fluorite) and sulfuric acid. The prices of these raw materials can be volatile due to factors such as supply disruptions, geopolitical issues, and fluctuations in global demand. These fluctuations impact the cost structure of hydrofluoric acid production, influencing pricing strategies and profitability for manufacturers and suppliers alike. As a result, market players must closely monitor and manage raw material procurement to mitigate risks and maintain competitiveness in the market.
- Rising Substitute Products
Alternatives such as non-fluoride-based chemicals or mechanical processes are increasingly being developed to reduce reliance on hydrofluoric acid due to its hazardous nature and stringent regulatory requirements. These substitutes often offer advantages such as improved safety, reduced environmental impact, or lower costs, which appeal to industries seeking to mitigate risks and comply with stricter regulations. As these alternatives gain traction, particularly in applications like metal cleaning, semiconductor manufacturing, and chemical production, they pose a competitive challenge to hydrofluoric acid, potentially limiting its market growth and adoption in certain sectors.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Development
- In November 2021, HMD Kontro launched a specialized pump for hydrofluoric acid (HF) alkylation, developed in collaboration with HF unit operators and UOP. The pump ensures safe HF acid transfer with corrosion-resistant materials, secondary containment, and advanced monitoring, addressing safety and environmental compliance in the HF acid market
- In April 2021, EcoGraf secured a contract for a battery anode materials facility producing spherical graphite outside China. The facility aims to use environmentally safe alternatives to conventional hydrofluoric acid purification processes, aligning with sustainable practices in battery manufacturing
- In April 2021, Renascor Resources explored green finance options for its Siviour Battery Anode Material Project in South Australia. The project aims for vertical integration to produce materials for electric vehicle manufacturing, emphasizing sustainability and environmental responsibility
- In February 2021, Samsung Electronics developed a system to reuse high-concentration liquefied hydrogen fluoride cleaning solutions in semiconductor production. This innovation enhances sustainability by reducing chemical waste and improving efficiency in semiconductor manufacturing processes
Hydrofluoric Acid Market Scope
The market is segmented on the basis of grade, application, end-user industry, and type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Grade
- Anhydrous Hydrofluoric Acid (AHF)
- Diluted Hydrofluoric Acid (DHF) (Above 50% Concentration)
- Diluted Hydrofluoric Acid (DHF) (Below 50% Concentration)
Application
- Fluorocarbon Production
- Fluorinated Derivative Production
- Metal Pickling
- Glass Etching and Cleaning
- Oil Refining
- Uranium Fuel Production
- Others
Type
- UP Grade
- UP-S Grade
- UP-SS Grade
- EL Grade
End-user Industry
- Oil and Gas
- Chemical Processing
- Pharmaceuticals
- Electrical and Electronics
- Others
Hydrofluoric Acid Market Analysis/Insights
The market is analyzed and market size insights and trends are provided by grade, application, end-user industry, and type are referenced above.
The countries covered in the market report are U.S., Canada, Mexico, Brazil, Argentina, and the Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, and the rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, and the rest of Asia-Pacific, and U.A.E., Saudi Arabia, Egypt, South Africa, Israel, and the rest of the Middle East and Africa.
Asia-Pacific dominates the market, driven by abundant fluorspar raw material reserves and increasing supply and demand. The region's market growth is further propelled by the rising utilization of hydrofluoric acid in various sectors, including civil, industrial, and national defense production industries. This trend is expected to continue boosting the market during the forecast period.
Europe is expected to experience the fastest growth in the market from due to increased applications in fluorochemical production. Additionally, the presence of major industry players in the region is expected to further boost market development, enhancing Europe's role in the global hydrofluoric acid market in the coming years.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Hydrofluoric Acid Market Share Analysis
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the company’s focus related to chemicals market.
Some of the major players operating in the market are:
- Honeywell International Inc. (U.S.)
- Solvay (Belgium)
- Daikin (Japan)
- Lanxess (Germany)
- Stella Chemifa Corporation (Japan)
- Fluorchemie Group (Germany)
- DONGYUE GROUP LIMITED (China)
- Formosa Daikin Advanced Chemicals Co., Ltd. (Taiwan)
- Merck KGaA (Germany)
- SINOCHEM GROUP CO., LTD. (China)
- Fujian Shaowu Yongfei Chemical Co., Ltd. (China)
- Gulf Fluor (U.A.E.)
- Morita Chemical Industries Co., Ltd. (Japan)
- Mexichem S.A.B. de C.V. (Mexico)
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