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Global Hydrofluoric Acid Market to Grow at a CAGR of 6.72% During 2022-2027, Aided by the Rising Demand for Industrial Hydrofluoric Acid

Global Hydrofluoric Acid Market Size, Analysis: By Product Type: Electronic Hydrofluoric Acid, Industrial Hydrofluoric Acid; By Grade: Anhydrous Hydrofluoric Acid, Diluted Hydrofluoric Acid (above 50% concentration), Diluted Hydrofluoric Acid (below 50% concentration); By Application; Regional Analysis; Competitive Landscape; 2024-2032

Global Hydrofluoric Acid Market Outlook

The global hydrofluoric acid market attained a volume of more than 1.9 million tons in 2021. The market is further expected to grow at a CAGR of 6.72% during the forecast period of 2024-2032 to reach over 2.8 million tons by 2027.

Global Hydrofluoric Acid Market

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Rising Applications of Industrial Hydrofluoric Acid to Spur the Growth of the Overall Market

The global market for hydrofluoric acid is being driven by the rising use of industrial hydrofluoric acid in the production of fluorine compounds. These fluorine compounds include fluorocarbons, fluorides, and fluorochemicals, among others. In line with this, the growing demand for fluorocarbons to be used as cooling agents in air conditioners and refrigeration equipment are expanding the growth of the market. In addition to this, the growth of the market can be associated with the growing demand for hydrofluoric acid for the production of aluminium fluoride, which is used for the manufacturing of aluminium products. Thus, the growing use of aluminium across end-use sectors like automobile, packaging, and manufacturing, among others are positively influencing the growth of hydrofluoric acid in the global market. Moreover, the increasing of hydrofluoric acid as a cleaning agent in the automotive industry to remove rust, stain, and water-spots are further influencing the growth of the market positively.

Hydrofluoric Acid: Market Segmentation

Hydrofluoric acid refers to a colourless, fuming, and corrosive chemical compound of hydrogen and fluorine. It is used to make refrigerants, herbicides, aluminium, plastics, and fluorescent light bulbs, among others.

Global Hydrofluoric Acid Market by Segment

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On the basis of product type, the market can be divided into:

Electronic Hydrofluoric Acid
Industrial Hydrofluoric Acid

Based on grade, the market can be segmented into:

Anhydrous Hydrofluoric Acid
Diluted Hydrofluoric Acid (above 50% concentration)
Diluted Hydrofluoric Acid (below 50% concentration)

The market, based on application, can be distributed into:

Fluorocarbon Production
Fluorinated Derivative Production
Metal Pickling
Glass Etching and Cleaning
Oil Refining
Uranium Fuel Production
Others

The EMR report looks into the regional markets of hydrofluoric acid like North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.

Global Hydrofluoric Acid Market by Region

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The Asia Pacific Region is Projected to Hold a Significant Share in the Overall Growth of the Market

On the basis of region, the Asia Pacific is projected to account for a considerable share in the growth of the global market. This can be attributed to the growing demand for hydrofluoric acid across industry verticals. For instance, the use of hydrofluoric acid for applications such as metal processing, steel picking, and metal surface treatment is pushing the growth of the regional market, owing to the flourishing steel industry of the region. In addition, the use of the product for glass etching process to provide finish and shine to glass surfaces is another factor defining the growth of the market. Moreover, hydrofluoric acid is actively used in the petrochemical industry to improve fuel efficiency in the alkylation process. The implementation of stringent vehicle regulations in the region is supporting this trend.

However, the negative properties of hydrofluoric acid such as its toxicity and corrosive properties are projected to have a negative effect on the global market. In addition, fluorocarbons release CO2 emissions which pollute the environment, and the growing adoption of climate neutral products may restrain the growth of the market in the coming years.

Key Industry Players in the Global Hydrofluoric Acid Market

The report presents a detailed analysis of the following key players in the global hydrofluoric acid market, looking into their capacity, market share, and latest developments like capacity expansions, plant turnabouts and mergers and acquisitions:

Honeywell International Inc.
Daikin Industries, Ltd.
Dongyue Group Co., Ltd
Do-Fluoride New Materials Co., Ltd.
Solvay S.A.
Others

The comprehensive report looks at the micro and macro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of the Porter’s Five Forces Model.

REPORT FEATURES	DETAILS
Base Year	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Scope of the Report	Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Product Type, Grade, Application, Region
Breakup by Product Type	Electronic Hydrofluoric Acid, Industrial Hydrofluoric Acid
Breakup by Grade	Anhydrous Hydrofluoric Acid, Diluted Hydrofluoric Acid (above 50% concentration), Diluted Hydrofluoric Acid (below 50% concentration)
Breakup by Application	Fluorocarbon Production, Fluorinated Derivative Production, Metal Pickling, Glass Etching and Cleaning, Oil Refining, Uranium Fuel Production, Others
Breakup by Region	North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics	SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Trade Data Analysis	Major Importing Countries by Value and Volume, Major Exporting Countries by Value and Volume
Price Analysis	Historical and Forecast Price Trends- Regional
Competitive Landscape	Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered	Honeywell International Inc., Daikin Industries, Ltd., Dongyue Group Co., Ltd, Do-Fluoride New Materials Co., Ltd., Solvay S.A., Others
Report Price and Purchase Option	Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format	Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1   Preface
2   Report Coverage – Key Segmentation and Scope
3   Report Description
   3.1   Market Definition and Outlook
   3.2   Properties and Applications
   3.3   Market Analysis
   3.4   Key Players
4   Key Assumptions
5   Executive Summary
   5.1   Overview
   5.2   Key Drivers
   5.3   Key Developments
   5.4   Competitive Structure
   5.5   Key Industrial Trends
6   Snapshot
   6.1   Global
   6.2   Regional
7   Opportunities and Challenges in the Market
8   Global Hydrofluoric Acid Market Analysis
   8.1   Key Industry Highlights
   8.2   Global Hydrofluoric Acid Historical Market (2018-2023)
   8.3   Global Hydrofluoric Acid Market Forecast (2024-2032)
   8.4   Global Hydrofluoric Acid Market by Product Type
       8.4.1   Electronic Hydrofluoric Acid
           8.4.1.1   Market Share
           8.4.1.2   Historical Trend (2018-2023)
           8.4.1.3   Forecast Trend (2024-2032)
       8.4.2   Industrial Hydrofluoric Acid
           8.4.2.1   Market Share
           8.4.2.2   Historical Trend (2018-2023)
           8.4.2.3   Forecast Trend (2024-2032)
   8.5   Global Hydrofluoric Acid Market by Grade
       8.5.1   Anhydrous Hydrofluoric Acid
           8.5.1.1   Market Share
           8.5.1.2   Historical Trend (2018-2023)
           8.5.1.3   Forecast Trend (2024-2032)
       8.5.2   Diluted Hydrofluoric Acid (above 50% concentration)
           8.5.2.1   Market Share
           8.5.2.2   Historical Trend (2018-2023)
           8.5.2.3   Forecast Trend (2024-2032)
       8.5.3   Diluted Hydrofluoric Acid (below 50% concentration)
           8.5.3.1   Market Share
           8.5.3.2   Historical Trend (2018-2023)
           8.5.3.3   Forecast Trend (2024-2032)
   8.6   Global Hydrofluoric Acid Market by Application
       8.6.1   Fluorocarbon Production
           8.6.1.1   Market Share
           8.6.1.2   Historical Trend (2018-2023)
           8.6.1.3   Forecast Trend (2024-2032)
       8.6.2   Fluorinated Derivative Production
           8.6.2.1   Market Share
           8.6.2.2   Historical Trend (2018-2023)
           8.6.2.3   Forecast Trend (2024-2032)
       8.6.3   Metal Pickling
           8.6.3.1   Market Share
           8.6.3.2   Historical Trend (2018-2023)
           8.6.3.3   Forecast Trend (2024-2032)
       8.6.4   Glass Etching and Cleaning
           8.6.4.1   Market Share
           8.6.4.2   Historical Trend (2018-2023)
           8.6.4.3   Forecast Trend (2024-2032)
       8.6.5   Oil Refining
           8.6.5.1   Market Share
           8.6.5.2   Historical Trend (2018-2023)
           8.6.5.3   Forecast Trend (2024-2032)
       8.6.6   Uranium Fuel Production
           8.6.6.1   Market Share
           8.6.6.2   Historical Trend (2018-2023)
           8.6.6.3   Forecast Trend (2024-2032)
       8.6.7   Others
   8.7    Global Hydrofluoric Acid Market by Region
        8.7.1    North America
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2023)
            8.7.1.3    Forecast Trend (2024-2032)
        8.7.2    Europe
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2023)
            8.7.2.3    Forecast Trend (2024-2032)
        8.7.3    Asia Pacific
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2018-2023)
            8.7.3.3    Forecast Trend (2024-2032)
        8.7.4    Latin America
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2018-2023)
            8.7.4.3    Forecast Trend (2024-2032)
        8.7.5    Middle East and Africa
            8.7.5.1    Market Share
            8.7.5.2    Historical Trend (2018-2023)
            8.7.5.3    Forecast Trend (2024-2032)
9    North America Hydrofluoric Acid Market Analysis
    9.1    United States of America
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2023)
        9.1.3    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2023)
        9.2.3    Forecast Trend (2024-2032)
10    Europe Hydrofluoric Acid Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2023)
        10.1.3    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2023)
        10.2.3    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2023)
        10.3.3    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2023)
        10.4.3    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Hydrofluoric Acid Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2023)
        11.1.3    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2023)
        11.2.3    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2023)
        11.3.3    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2023)
        11.4.3    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2023)
        11.5.3    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Hydrofluoric Acid Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2023)
        12.1.3    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2023)
        12.2.3    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2023)
        12.3.3    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Hydrofluoric Acid Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2023)
        13.1.3    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2023)
        13.2.3    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2023)
        13.3.3    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2023)
        13.4.3    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Trade Data Analysis (HS Code - 281111)
    16.1    Major Importing Countries
        16.1.1    By Volume
        16.1.2    By Value
    16.2    Major Exporting Countries
        16.2.1    By Volume
        16.2.2    By Value
17    Price Analysis
17.1 North America Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.2 Europe Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.3 Asia Pacific Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.4 Latin America Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.5 Middle East and Africa Historical Price Trends (2018-2023) and Forecast (2024-2032)
18    Competitive Landscape
    18.1    Market Structure
    18.2    Company Profiles
        18.2.1    Honeywell International Inc.
            18.2.1.1    Company Overview
            18.2.1.2    Product Portfolio
            18.2.1.3    Demographic Reach and Achievements
            18.2.1.4    Certifications
        18.2.2    Daikin Industries, Ltd.
            18.2.2.1    Company Overview
            18.2.2.2    Product Portfolio
            18.2.2.3    Demographic Reach and Achievements
            18.2.2.4    Certifications
        18.2.3    Dongyue Group Co., Ltd
            18.2.3.1    Company Overview
            18.2.3.2    Product Portfolio
            18.2.3.3    Demographic Reach and Achievements
            18.2.3.4    Certifications
        18.2.4    Do-Fluoride New Materials Co., Ltd.
            18.2.4.1    Company Overview
            18.2.4.2    Product Portfolio
            18.2.4.3    Demographic Reach and Achievements
            18.2.4.4    Certifications
        18.2.5    Solvay S.A.
            18.2.5.1    Company Overview
            18.2.5.2    Product Portfolio
            18.2.5.3    Demographic Reach and Achievements
            18.2.5.4    Certifications
        18.2.6    Others
19    Key Trends and Developments in the Market

Additional Customisations Available

1   Manufacturing Process
   1.1   Overview
   1.2   Detailed Process Flow
   1.3   Operation Involved
2   Project Requirement and Cost Analysis
   2.1   Land, Location and Site Development
   2.2   Construction
   2.3   Plant Machinery
   2.4   Cost of Raw Material
   2.5   Packaging
   2.6   Transportation
   2.7   Utilities
   2.8   Manpower
   2.9   Other Capital Investment

List of Key Figures and Tables

1.   Global Hydrofluoric Acid Market: Key Industry Highlights, 2018 and 2032
2.   Global Hydrofluoric Acid Historical Market: Breakup by Product Type (Million Tons), 2018-2023
3.   Global Hydrofluoric Acid Market Forecast: Breakup by Product Type (Million Tons), 2024-2032
4.   Global Hydrofluoric Acid Historical Market: Breakup by Grade (Million Tons), 2018-2023
5.   Global Hydrofluoric Acid Market Forecast: Breakup by Grade (Million Tons), 2024-2032
6.   Global Hydrofluoric Acid Historical Market: Breakup by Application (Million Tons), 2018-2023
7.   Global Hydrofluoric Acid Market Forecast: Breakup by Application (Million Tons), 2024-2032
8.   Global Hydrofluoric Acid Historical Market: Breakup by Region (Million Tons), 2018-2023
9.   Global Hydrofluoric Acid Market Forecast: Breakup by Region (Million Tons), 2024-2032
10.   North America Hydrofluoric Acid Historical Market: Breakup by Country (Million Tons), 2018-2023
11.   North America Hydrofluoric Acid Market Forecast: Breakup by Country (Million Tons), 2024-2032
12.   Europe Hydrofluoric Acid Historical Market: Breakup by Country (Million Tons), 2018-2023
13.   Europe Hydrofluoric Acid Market Forecast: Breakup by Country (Million Tons), 2024-2032
14.   Asia Pacific Hydrofluoric Acid Historical Market: Breakup by Country (Million Tons), 2018-2023
15.   Asia Pacific Hydrofluoric Acid Market Forecast: Breakup by Country (Million Tons), 2024-2032
16.   Latin America Hydrofluoric Acid Historical Market: Breakup by Country (Million Tons), 2018-2023
17.   Latin America Hydrofluoric Acid Market Forecast: Breakup by Country (Million Tons), 2024-2032
18.   Middle East and Africa Hydrofluoric Acid Historical Market: Breakup by Country (Million Tons), 2018-2023
19.   Middle East and Africa Hydrofluoric Acid Market Forecast: Breakup by Country (Million Tons), 2024-2032
20.   Major Importing Countries by Volume (2021)
21.   Major Exporting Countries by Volume (2021)
22.   Major Importing Countries by Value (2021)
23.   Major Exporting Countries by Value (2021)
24.   North America Historical Price Trends and Forecast 2018-2028
25.   Europe Historical Price Trends and Forecast 2018-2028
26.   Asia Pacific Historical Price Trends and Forecast 2018-2028
27.   Latin America Historical Price Trends and Forecast 2018-2028
28.   Middle East and Africa Historical Price Trends and Forecast 2018-2028
29.   Global Hydrofluoric Acid Market Structure

Key Questions Answered in the Report

What was the global hydrofluoric acid market size in 2021?

The global hydrofluoric acid market attained a volume of over 1.9 million tons in 2021.

What is the growth rate of the market?

The market is projected to grow at a CAGR of 6.72% in the forecast period of 2024-2032.

What is the forecast outlook of the market for 2024-2032?

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach more than 2.8 million tons by 2027.

What are the major industry drivers of the market?

The market is being driven by the rising use of hydrofluoric acid in industrial applications such as cooling agents, production of aluminium fluoride, and as a cleaning agent, among other uses.

What are the key industry trends of the global hydrofluoric acid market?

The market growth can be associated with the rising demand for hydrofluoric acid in the metal processing industry and in applications like steel picking and metal surface treatment.

What are the major regional markets of hydrofluoric acid, according to the EMR report?

The major regional markets for hydrofluoric acid are North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.

What are the different product types of hydrofluoric acid?

The different product types of hydrofluoric acid are electronic hydrofluoric acid and industrial hydrofluoric acid.

What are the major grades of hydrofluoric acid?

The major grades of hydrofluoric acid are anhydrous hydrofluoric acid, diluted hydrofluoric acid (above 50% concentration), and diluted hydrofluoric acid (below 50% concentration).

What are the significant applications of hydrofluoric acid?

The significant applications of hydrofluoric acid include fluorocarbon production, fluorinated derivative production, metal pickling, glass etching and cleaning, oil refining, and uranium fuel production, among others.

Who are the key industry players, according to the report?

The major players in the industry are Honeywell International Inc., Daikin Industries, Ltd., Dongyue Group Co., Ltd, Do-Fluoride New Materials Co., Ltd., and Solvay S.A., among others.

Analyst Review

The global hydrofluoric acid market attained a volume of more than 1.9 million tons in 2021, driven by the increasing demand for industrial hydrofluoric acid. Aided by rising demand for the product in metal processing industry, the market is expected to grow at a CAGR of 6.72% in the forecast period of 2024-2032 to reach over 2.8 million tons by 2027.

EMR’s meticulous research methodology delves deep into the market covering the macro and micro aspects of the industry. On the basis of product type, the market can be segmented into electronic hydrofluoric acid and industrial hydrofluoric acid. The market, based on grade, can be classified into anhydrous hydrofluoric acid, diluted hydrofluoric acid (above 50% concentration), and diluted hydrofluoric acid (below 50% concentration). Based on application, the market can be divided into fluorocarbon production, fluorinated derivative production, metal pickling, glass etching and cleaning, oil refining, and uranium fuel production, among others. The major regional markets for hydrofluoric acid are North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa. The key players in the industry are Honeywell International Inc., Daikin Industries, Ltd., Dongyue Group Co., Ltd, Do-Fluoride New Materials Co., Ltd., and Solvay S.A., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.

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