Press Release
Press Release
The rising application of hydrofluoric acid in the production of aluminium is driving the market growth. This can be attributed to the increasing demand for aluminium in various industries including automotive, aerospace and defence, oil and gas, energy and mining, and building and construction, among others. In addition to this, the increasing product demand for fluorocarbons, which are widely utilised in aerosol sprays and refrigerants, is anticipated to propel the demand for hydrofluoric acid in the forecast period, as they are utilised in their production.
Some of the major players in the market include Honeywell International Inc (NASDAQ: HON) and Daikin Industries,Ltd. (OTCMKTS: DKILY), among others. Due to the ability of hydrofluoric acid to dissolve glass, it is also a major component in the semiconductor industry. In Q1 2021, Samsung Electronics announced the development of a system, which will recycle the hydrofluoric acid for its semiconductor production lines. Such developments are expected to positively influence the market in the coming years.
In terms of region, North America is anticipated to witness a considerable growth in the forecast period. The growing demand for glass and ceramics in the region, supported by rapid urbanisation and technological advancements in the infrastructure, is anticipated to aid the market growth in the forecast period.
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The major players in the global hydrofluoric acid market are Honeywell International Inc., Daikin Industries, Ltd., Dongyue Group Co., Ltd, Do-Fluoride New Materials Co., Ltd., and Solvay S.A., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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