Published on: May 2022
Magnifying the market growth of hydrofluoric acid
Fluorochemical output is increasing in the United States and Germany, which is helping to boost global demand. The rising production of fluorocarbons, as well as the existence of large-scale producers, are likely to boost market expansion in the Asia Pacific region. The increased manufacturing of aluminum as well as its goods, where the acid is a significant ingredient, is expected to boost item demand in India over the forecast period. With a large range of companies in both already developed as well as the developing economies, the global market is tremendously fragmented. Key players are those who specialize in mergers and acquisitions in order to expand their reach across the value chain.
Derivation of key insights on expansion of hydrofluoric acid from the various competition sectors
The majority of industry companies are focusing on product development in order to meet the demand for new items that are environmentally friendly.
Because of increased demand in numerous applications such as surfactants, fluorochemicals, and solid metal cleaners, the anhydrous grade category accounted for the largest proportion of global sales in 2021.
Because of the rapid growth in production in recent years, metal pickling emerged as the fastest-growing application sector in 2021 and is expected to see a steady CAGR from 2022 to 2030.
Global domination in the application market with hydrofluoric acid
Fluorocarbons became the biggest application market in 2021 as a result of higher production levels in nations such as China, India, the United States, and Germany. Furthermore, the segment is expected to be driven by increased demand for air conditioning and refrigeration systems. Because of the quantity of staples and the existence of many large-scale manufacturers, Asia Pacific is expected to grow at the quickest rate over the forecast period.
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