Global Hydrofluoric Acid Market was valued at US$ XX Mn in 2019 and is expected to reach US$ XX Mn by 2027, at a CAGR of 6.26% during the forecast period.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
Global Hydrofluoric Acid MarketGlobal Hydrofluoric Acid Market Dynamics:
A major driver in the global hydrofluoric acid market is increasing use of HF in steel aluminum, petroleum, and pharmaceuticals industry, which is primarily expected to boost growth of the market. HF is also used for glass etching and metal removal in the electronics industry. Increasing adoption of hydrofluoric acid in various chemicals industries is another major factor expected to propel the growth of the global market in the coming years.
However, stringent government regulations and hazardous effects of the product are major factors restraining the growth of the target market. In addition, uncertainty in supply of raw materials, can increase the prices of raw materials, resulting in escalation in price of hydrofluoric acid, which is expected to be a challenge for growth of the target market. Increasing request from glass etching and cleaning the applications is an opportunity for the target market.
Global Hydrofluoric Acid Market Segment Analysis:
Based on application segment, Hydrofluoric acid has a property of dissolving oxides and other impurities hence used at several stages in the processing of metals like carbon steel, stainless steel, and titanium. It is also used to separate essential metals from mineral ores and wet etching and cleaning of non-ferrous metal pieces. The growing metal industry, is estimated to hold largest market share during forecast period.
On the basis of grade segment, anhydrous hydrofluoric acid (AHF) is expected to hold largest market share during the forecast period. The increasing demand for this grade in the fluorocarbon production, fluorinated derivative production, and oil refining applications is estimated to raise the consumption of AHF globally. Furthermore, the rising demand for fluorocarbons like HFCs and HFOs is estimated to make this grade one of the most widely used global hydrofluoric acid markets.
Global Hydrofluoric Acid Market Regional Insights:
In terms of region, Asia Pacific is estimated to contribute the largest market share during the forecast period because of the presence of numerous fluorocarbon manufacturers in the region. China is expected to account for the largest share of the market in Asia Pacific. Major producers of hydrofluoric acid, like Dongyue Group, Daikin, Sinochem, Yingpeng Chemical, are located in the Asia-Pacific region.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data, and projections with a suitable set of assumptions and methodology. The report also helps in understanding global Hydrofluoric Acid Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global Hydrofluoric Acid Market.
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Scope of the Global Hydrofluoric Acid Market Report:
Global Hydrofluoric Acid Market, By Grade
Global Hydrofluoric Acid Market, By Application
• Fluorocarbon Production
• Fluorinated Derivative Production
• Metal Pickling
• Glass Etching and Cleaning
• Oil Refining
• Uranium Fuel Production
Global Hydrofluoric Acid Market, By Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
Key Players Operating in the Global Hydrofluoric Acid Market:
• Dongyue Group
• Honeywell International
• Sinochem Group
• Yingpeng Group
• Fluoride Chemical
• Fluorchemie Group
• Fujian Shaowu Yongfei Chemical
• Morita Chemical Industries
• Gulf Fluor
• Fubao Group
• Fujian Longfu Chemical
• Shaowu Huaxin Chemical Industry
• Navin Fluorine International Ltd. (NFIL)
• Tanfac Industries Limited
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