Hydrofluoric Acid Market Strategies and Share 2031
The Hydrofluoric Acid Market is expected to register a CAGR of 6% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
Hydrofluoric Acid Market covers analysis By Grade (Anhydrous, Aqueous); Application (Fluorochemicals, Oil Refining, Glass Etching, Electronics and Semiconductor, Others), and Geography (North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America). Hydrofluoric acid is a clear, colourless, fuming liquid with a sharp and pungent odour. It is an inorganic acid which is a solution of the hydrogen fluoride in water. It is mainly used in chemical industry to produce various fluorine compounds. Increase in demand of hydrofluoric acid from the fluorocarbon and fluorinated derivative production, metal picking, oil reefing are driving the hydrofluoric acid market.
Purpose of the ReportThe report Hydrofluoric Acid Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Hydrofluoric Acid Market Segmentation
Grade- Anhydrous
- Aqueous
- Fluorochemicals
- Oil Refining
- Glass Etching
- Electronics and Semiconductor
- Others
Strategic Insights
Hydrofluoric Acid Market Growth Drivers- Semiconductor Industry Growth: Hydrofluoric acid is one of the most crucial elements that manufacture semiconductors, as it serves to etch silicon wafers and clean semiconductor surfaces. The growing electronic devices demand and technological innovations increase the demand on the expanding semiconductor industry that leads to the expansion of the hydrofluoric acid market.
- Crucial Role in Petroleum Refining and Chemical Production: Hydrofluoric acid is an important part of alkylation operations that manufacture high-octane gasoline in refineries. Rising international demand for refined petroleum products as well as growth of petrochemical industries dictates the hydrofluoric acid requirement in refining and chemical production processes.
- Expanding Use of Fluorochemicals Boosts Hydrofluoric Acid Market Growth: Hydrofluoric acid is one of the prime feedstocks to fluorochemicals, including refrigerants, Teflon, and other fluorinated polymers. Increasing usage of fluorine-based chemicals in automotive, electronics, and construction industries have helped propel this hydrofluoric acid market.
- Environmental Regulations in Semiconductor Production: The increasing environmental consciousness and regulations are stimulating the industries to find safer alternatives, which are less dangerous as well as more environment-friendly substitutes of hydrofluoric acid. More research on safer hydrofluoric acid alternatives for industrial application could be expected in the near future, such as greener etching and cleaning in semiconductor production processes. This continues to drive demand for high-purity hydrofluoric acid as the semiconductor industry continues to advance and grow at the advent of 5G, AI, and advanced computing.
- Technological Advancements in Semiconductors: Innovations in semiconductor manufacturing always result in the requirement for smaller and more precise components that will continue to require hydrofluoric acid for etching and cleaning.
- Stricter Environmental and Safety Regulations Propel Innovation in Hydrofluoric Acid Processing: Stricter environment and safety regulations regarding the handling and disposal of hydrofluoric acid are likely to drive the market. In the future, more convenient safer processing and recycling technologies will be adopted in addition to efforts toward the development of less toxic alternatives that comply with regulations.
- Growth of the EV Market: The growth of the EV market is a big prospect for hydrofluoric acid. It is indeed utilized in lithium-ion battery manufacturing and in any other component. Hydrofluoric acid shall increase with the growth of the EV industry in battery production and additional applications.
- Rising Electronics Demand in Emerging Economies : Rising demand for electronics and consumer goods in emerging economies, thereby creating growth opportunities for the hydrofluoric acid market, will be primarily fueled by increasing investment in the semiconductor manufacturing sector in countries from Asia-Pacific, Latin America, and the Middle East.
- Increased Use of Fluoropolymers Boosts Hydrofluoric Acid Demand in Advanced Industries: Growth in demand for fluoropolymers-such as Teflon-for automotive, aerospace, and electronics is a bright promise of growth. Hydrofluoric acid, being an important precursor to Thee materials, implies that as advanced materials use increases, hydrofluoric acid use will also increase during their manufacturing.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Hydrofluoric Acid Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Hydrofluoric Acid Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
Have a question?
Shejal
Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The Hydrofluoric Acid Market is estimated to witness a CAGR of 6% from 2023 to 2031
Growing semiconductor industry is a key driver in the market.
Honeywell International, Daikin, Solvay, Dongyue Group, Mexichem, Sinochem Group, LANXESS, Fluoride Chemical, Yingpeng Group, and Fluorchemie Group are some of the key players in the market.
The anhydrous grade segment accounted for the largest market share in 2023
The North America market is expected to account for the highest CAGR during the forecast period owing to the growing semiconductor industry in the region.
A growing focus towards green chemistry is an emerging trend in the market.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Hydrofluoric Acid Market - By Grade
1.3.2 Hydrofluoric Acid Market - By Application
1.3.3 Hydrofluoric Acid Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. HYDROFLUORIC ACID MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. HYDROFLUORIC ACID MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. HYDROFLUORIC ACID MARKET - GLOBAL MARKET ANALYSIS
6.1. HYDROFLUORIC ACID - GLOBAL MARKET OVERVIEW
6.2. HYDROFLUORIC ACID - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. HYDROFLUORIC ACID MARKET - REVENUE AND FORECASTS TO 2028 - GRADE
7.1. OVERVIEW
7.2. GRADE MARKET FORECASTS AND ANALYSIS
7.3. ANHYDROUS
7.3.1. Overview
7.3.2. Anhydrous Market Forecast and Analysis
7.4. AQUEOUS
7.4.1. Overview
7.4.2. Aqueous Market Forecast and Analysis
8. HYDROFLUORIC ACID MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. FLUOROCHEMICALS
8.3.1. Overview
8.3.2. Fluorochemicals Market Forecast and Analysis
8.4. OIL REFINING
8.4.1. Overview
8.4.2. Oil Refining Market Forecast and Analysis
8.5. GLASS ETCHING
8.5.1. Overview
8.5.2. Glass Etching Market Forecast and Analysis
8.6. ELECTRONICS AND SEMICONDUCTOR
8.6.1. Overview
8.6.2. Electronics and Semiconductor Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. HYDROFLUORIC ACID MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Hydrofluoric Acid Market Overview
9.1.2 North America Hydrofluoric Acid Market Forecasts and Analysis
9.1.3 North America Hydrofluoric Acid Market Forecasts and Analysis - By Grade
9.1.4 North America Hydrofluoric Acid Market Forecasts and Analysis - By Application
9.1.5 North America Hydrofluoric Acid Market Forecasts and Analysis - By Countries
9.1.5.1 United States Hydrofluoric Acid Market
9.1.5.1.1 United States Hydrofluoric Acid Market by Grade
9.1.5.1.2 United States Hydrofluoric Acid Market by Application
9.1.5.2 Canada Hydrofluoric Acid Market
9.1.5.2.1 Canada Hydrofluoric Acid Market by Grade
9.1.5.2.2 Canada Hydrofluoric Acid Market by Application
9.1.5.3 Mexico Hydrofluoric Acid Market
9.1.5.3.1 Mexico Hydrofluoric Acid Market by Grade
9.1.5.3.2 Mexico Hydrofluoric Acid Market by Application
9.2. EUROPE
9.2.1 Europe Hydrofluoric Acid Market Overview
9.2.2 Europe Hydrofluoric Acid Market Forecasts and Analysis
9.2.3 Europe Hydrofluoric Acid Market Forecasts and Analysis - By Grade
9.2.4 Europe Hydrofluoric Acid Market Forecasts and Analysis - By Application
9.2.5 Europe Hydrofluoric Acid Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Hydrofluoric Acid Market
9.2.5.1.1 Germany Hydrofluoric Acid Market by Grade
9.2.5.1.2 Germany Hydrofluoric Acid Market by Application
9.2.5.2 France Hydrofluoric Acid Market
9.2.5.2.1 France Hydrofluoric Acid Market by Grade
9.2.5.2.2 France Hydrofluoric Acid Market by Application
9.2.5.3 Italy Hydrofluoric Acid Market
9.2.5.3.1 Italy Hydrofluoric Acid Market by Grade
9.2.5.3.2 Italy Hydrofluoric Acid Market by Application
9.2.5.4 United Kingdom Hydrofluoric Acid Market
9.2.5.4.1 United Kingdom Hydrofluoric Acid Market by Grade
9.2.5.4.2 United Kingdom Hydrofluoric Acid Market by Application
9.2.5.5 Russia Hydrofluoric Acid Market
9.2.5.5.1 Russia Hydrofluoric Acid Market by Grade
9.2.5.5.2 Russia Hydrofluoric Acid Market by Application
9.2.5.6 Rest of Europe Hydrofluoric Acid Market
9.2.5.6.1 Rest of Europe Hydrofluoric Acid Market by Grade
9.2.5.6.2 Rest of Europe Hydrofluoric Acid Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Hydrofluoric Acid Market Overview
9.3.2 Asia-Pacific Hydrofluoric Acid Market Forecasts and Analysis
9.3.3 Asia-Pacific Hydrofluoric Acid Market Forecasts and Analysis - By Grade
9.3.4 Asia-Pacific Hydrofluoric Acid Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Hydrofluoric Acid Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Hydrofluoric Acid Market
9.3.5.1.1 Australia Hydrofluoric Acid Market by Grade
9.3.5.1.2 Australia Hydrofluoric Acid Market by Application
9.3.5.2 China Hydrofluoric Acid Market
9.3.5.2.1 China Hydrofluoric Acid Market by Grade
9.3.5.2.2 China Hydrofluoric Acid Market by Application
9.3.5.3 India Hydrofluoric Acid Market
9.3.5.3.1 India Hydrofluoric Acid Market by Grade
9.3.5.3.2 India Hydrofluoric Acid Market by Application
9.3.5.4 Japan Hydrofluoric Acid Market
9.3.5.4.1 Japan Hydrofluoric Acid Market by Grade
9.3.5.4.2 Japan Hydrofluoric Acid Market by Application
9.3.5.5 South Korea Hydrofluoric Acid Market
9.3.5.5.1 South Korea Hydrofluoric Acid Market by Grade
9.3.5.5.2 South Korea Hydrofluoric Acid Market by Application
9.3.5.6 Rest of Asia-Pacific Hydrofluoric Acid Market
9.3.5.6.1 Rest of Asia-Pacific Hydrofluoric Acid Market by Grade
9.3.5.6.2 Rest of Asia-Pacific Hydrofluoric Acid Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Hydrofluoric Acid Market Overview
9.4.2 Middle East and Africa Hydrofluoric Acid Market Forecasts and Analysis
9.4.3 Middle East and Africa Hydrofluoric Acid Market Forecasts and Analysis - By Grade
9.4.4 Middle East and Africa Hydrofluoric Acid Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Hydrofluoric Acid Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Hydrofluoric Acid Market
9.4.5.1.1 South Africa Hydrofluoric Acid Market by Grade
9.4.5.1.2 South Africa Hydrofluoric Acid Market by Application
9.4.5.2 Saudi Arabia Hydrofluoric Acid Market
9.4.5.2.1 Saudi Arabia Hydrofluoric Acid Market by Grade
9.4.5.2.2 Saudi Arabia Hydrofluoric Acid Market by Application
9.4.5.3 U.A.E Hydrofluoric Acid Market
9.4.5.3.1 U.A.E Hydrofluoric Acid Market by Grade
9.4.5.3.2 U.A.E Hydrofluoric Acid Market by Application
9.4.5.4 Rest of Middle East and Africa Hydrofluoric Acid Market
9.4.5.4.1 Rest of Middle East and Africa Hydrofluoric Acid Market by Grade
9.4.5.4.2 Rest of Middle East and Africa Hydrofluoric Acid Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Hydrofluoric Acid Market Overview
9.5.2 South and Central America Hydrofluoric Acid Market Forecasts and Analysis
9.5.3 South and Central America Hydrofluoric Acid Market Forecasts and Analysis - By Grade
9.5.4 South and Central America Hydrofluoric Acid Market Forecasts and Analysis - By Application
9.5.5 South and Central America Hydrofluoric Acid Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Hydrofluoric Acid Market
9.5.5.1.1 Brazil Hydrofluoric Acid Market by Grade
9.5.5.1.2 Brazil Hydrofluoric Acid Market by Application
9.5.5.2 Argentina Hydrofluoric Acid Market
9.5.5.2.1 Argentina Hydrofluoric Acid Market by Grade
9.5.5.2.2 Argentina Hydrofluoric Acid Market by Application
9.5.5.3 Rest of South and Central America Hydrofluoric Acid Market
9.5.5.3.1 Rest of South and Central America Hydrofluoric Acid Market by Grade
9.5.5.3.2 Rest of South and Central America Hydrofluoric Acid Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. HYDROFLUORIC ACID MARKET, KEY COMPANY PROFILES
11.1. HONEYWELL INTERNATIONAL
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. DAIKIN
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. SOLVAY
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. DONGYUE GROUP
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. MEXICHEM
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. SINOCHEM GROUP
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. LAXESS
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. FLUORIDE CHEMICAL
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. YINGPENG GROUP
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. FLUORCHEMIE GROUP
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Honeywell International
2. Daikin
3. Solvay
4. Dongyue Group
5. Mexichem
6. Sinochem Group
7. LAXESS
8. Fluoride Chemical
9. Yingpeng Group
10. Fluorchemie Group
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Get Free Sample For