Hydrofluoric Acid Market to Grow at 5.5% CAGR to 2023, Led by Fluorocarbons and Fluorinated Derivatives Applications

PUNE, India, July 5, 2018 /PRNewswire/ --

ReportsnReports.com adds the global 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. Hydrofluoric acid is a clear, colorless, fuming liquid with a sharp, pungent odor. It is manufactured by the reaction of fluorspar with concentrated sulfuric acid at a temperature of 509°F.

Browse 75 Market Data Tables and 42 Figures spread through 114 Pages and In-depth TOC on "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" at http://www.reportsnreports.com/reports/1561866-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-st-to-2023.html .

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

Research report categorizes the hydrofluoric acid market on the basis of grade, application, and region. The report includes detailed information regarding the major factors influencing the growth of the hydrofluoric acid market such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into business overviews, products, key strategies, expansions, and recent developments associated with the market.

Order Now Research Copy of "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" Report at http://www.reportsnreports.com/purchase.aspx?name=1561866 .

Asia Pacific is estimated to be the fastest-growing market for hydrofluoric acid during the forecast period due to the increasing fluorocarbon production in the region. Additionally, the increasing production of fluorinated derivatives and metals is another factor driving the growth of the hydrofluoric acid market in this region. China is projected to be the fastest-growing market for hydrofluoric acid in Asia Pacific, followed by India and Japan.

The hydrofluoric acid market is classified into three grades: anhydrous hydrofluoric acid (AHF), diluted hydrofluoric acid (above 50% concentration) and diluted hydrofluoric acid (below 50% concentration). AHF is the most widely used grade of hydrofluoric acid owing to its extensive use in the fluorocarbon production and fluorinated derivative production applications.

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Hydrofluoric acid market is classified into seven segments, namely fluorocarbon production, fluorinated derivative production, metal pickling, glass etching and cleaning, oil refining, uranium fuel production, and others. Fluorocarbon production is the largest application of hydrofluoric acid due to the extensive use of hydrofluoric acid in the manufacturing of fluorocarbons. The increased demand for fluorocarbons is expected to drive the hydrofluoric acid market during the forecast period.

The fluorocarbon production application segment is estimated to account for a major share of the overall hydrofluoric acid market during the forecast period due to the large demand for hydrofluoric acid for the manufacture of fluorocarbons. Moreover, the growing demand for fluorocarbon-based refrigerants is expected to lead to the growth of hydrofluoric acid market during the forecast period.

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Asia Pacific is estimated to be the largest market for hydrofluoric acid and is projected to register the highest CAGR during the forecast period due to the presence of numerous fluorocarbon manufacturers in the region. China is expected to account for the largest share of the market in Asia Pacific until 2023.

The break-up of primary interviews is given below: 

• By Company Type: Tier 1-55%, Tier 2-30%, and Tier 3-15%
• By Designation: Director Level-21%, C Level-23%, and Others*-56%
• By Region: Asia Pacific-45%, Europe-27%, North America-15%, South America-7%, and Middle East & Africa-6%

Another research titled purified terephthalic acid market is estimated to be USD 48.14 billion in 2018 and is projected to reach USD 61.78 billion by 2023, at a CAGR of 5.1% from 2018 to 2023. The expansion of the textile industry contributes to the increased demand for polyester fiber & yarn, which in turn, is projected to drive the growth of the purified terephthalic acid market. key players, such as British Petroleum (UK), Reliance Industries Limited (India), Sinopec Corporation (China), Indorama Ventures Public Company (Thailand), and SABIC (Saudi Arabia) now available with discount at http://www.reportsnreports.com/contacts/discount.aspx?name=1541223 .

Explore More Reports on Chemicals at http://www.reportsnreports.com/market-research/advanced-material/ .

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