According to the new market research report 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", published by MarketsandMarkets™, 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. 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.
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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.
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).
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