Hydrofluoric Acid Market worth 2.1 million Tons by 2023

CITY, Country, 2021-Oct-25 — /EPR Network/ — The report “Hydrofluoric Acid Market by Grade (Anhydrous, and Diluted Hydrofluoric Acid (Above 50%, and Below 50% Concentration)), Application (Fluorocarbons, Fluorinated Derivatives, Metal Pickling, Glass Etching), and Region – Global Forecast to 2023″, The hydrofluoric acid market is driven by the rising demand for hydrofluoric acid from the fluorocarbon and fluorinated derivative production, metal pickling, glass etching and cleaning, oil refining, and uranium fuel production applications. The hydrofluoric acid market is expected to be 1.6 million tons in 2018 and is projected to reach 2.1 million tons by 2023, at a CAGR of 5.5% between 2018 and 2023.

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Anhydrous hydrofluoric acid estimated to be the largest grade of hydrofluoric acid during the forecast period.

Anhydrous hydrofluoric acid (AHF) is the largest grade of hydrofluoric acid and is suitable for a wide range of applications such as fluorocarbon production, fluorinated derivative production, and oil refining. AHF is usually found in the gaseous form with concentrations ranging between 99% and 100% . It is a very corrosive and toxic compound, making it difficult to handle and store.

Fluorinated derivatives estimated to be the fastest-growing application for hydrofluoric acid during the forecast period.

The hydrofluoric acid market in the fluorinated derivatives application is projected to register the highest growth during the forecast period. The consumption of hydrofluoric acid in this application is growing due to the rising demand for hydrofluoric acid for the manufacture of fluorinated derivatives such as fluoride, fluoropolymers, and fluorosurfactants.

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Asia Pacific is estimated to account for the largest share of the hydrofluoric acid market in 2018, with China estimated to be the major market in Asia Pacific. Japan, India, and South Korea are other major countries contributing to the growth of the hydrofluoric acid market in this region. The increasing demand for hydrofluoric acid from applications such as fluorocarbon production, fluorinated derivative production, metal pickling, and glass etching and cleaning is expected to drive the hydrofluoric acid market in these countries.

Key companies profiled in the hydrofluoric acid market research report include Dongyue Group (China), Honeywell International (US), Daikin (Japan), Solvay (Belgium), Mexichem (Mexico), Sinochem Group (China), LANXESS (Germany), Yingpeng Group (China), Fluoride Chemical (China), and Fluorchemie Group (Germany).

The objectives of the report are as follows:

• To define, analyze, and forecast the market size of hydrofluoric acid, in terms of volume
• To provide information on the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
• To analyze and forecast the market size on the basis of grade and application
• To forecast the market size of different segments with respect to five main regions, namely, North America, Europe, Asia Pacific (APAC), South America, and the Middle East & Africa
• To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the market
• To analyze the competitive developments, including expansions, in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.

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