Hydrofluoric Acid Market

Updated on : October 10, 2024

Hydrofluoric Acid Market

The global hydrofluoric acid market was valued at USD 3.4 billion in 2022 and is projected to reach USD 4.5 billion by 2027, growing at 5.9% cagr from 2022 to 2027. The reaction between a hydrogen atom and a fluorine atom leads to the formation of hydrogen fluoride, a colorless, caustic liquid or vapor. It can be dissolved in water, can exist as a colorless gas, or as a liquid that fumes. Hydrofluoric acid is formed when hydrogen fluoride dissolves in water. Hydrofluoric acid market is segmented on the basis of the grade into the AHF, DHF (above 50% concentration) and DHF (below 50% concentration) on their concentrations. The market is divided by applications like fluorocarbon production, fluorinated derivative production, metal pickling, glass etching and cleaning, oil refining, uranium fuel production, and others.

Attractive Opportunities in the Hydrofluoric Acid Market

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Hydrofluoric Acid Market Dynamics

Driver: Extensive usage in refrigerants, hydrofluorocarbons , and hydrofluoroolefins

Hydrofluoric acid is mainly used to produce fluorocarbons such as hydrochlorofluorocarbon (HCFCs), hydrofluorocarbon (HFCs), and hydrofluoroolefins (HFOs). HFOs and HFCs are globally used in refrigerants. Hydrofluoric acid is also widely used in the chemical industry to produce fluorine compounds such as fluorocarbons, fluorides, and fluoropolymers. This drives the hydrofluoric acid market.

Restraint: Raw material price fluctuations and stringent regulations on the use of fluorocarbon refrigerants

Fluorocarbon refrigerants adversely affect the ozone layer; therefore, various governments and agencies impose regulations to limit the use of fluorocarbon refrigerants. Several countries have agreed to eliminate HCFCs and HFCs by imposing protocols and regulations to limit their consumption.

Opportunities: Use of hydrofluoric acid in glass etching & cleaning applications

The growth in the semiconductor industry is crucial in creating new opportunities for the hydrofluoric acid industry, as this acid is used for glass etching & cleaning. The rapid advancements in semiconductor manufacturing technology will likely fuel the demand for hydrofluoric acid.

Challenges: Toxic and hazardous effects of hydrofluoric acid

Hydrofluoric acid is a highly corrosive and toxic liquid or gas. Precautions need to be taken while handling the acid to avoid its leakage. Hence, difficulty in handling hydrofluoric acid is a challenge for the market.

Hydrofluoric Acid Market Ecosystem

By Grade, Anhydrous hydrofluoric acid accounted for the highest CAGR during the forecast period

Hydrofluoric acid is segmented into the AHF, DHF (above 50% concentration) and DHF (below 50% concentration) grades based on their concentrations. Their use depends on the need for various applications, such as fluorocarbon production, fluorinated derivative production, metal pickling, glass etching and cleaning, oil refining. AHF is a clear, colorless gas mainly used as a feedstock for producing fluorocarbons. This major application helps to boost the demand for Hydrofluoric acid in the forecast period.

By Application, the fluorocarbon production segment accounted for the largest market share  during the forecast period

Hydrofluoric acid is used in different applications like fluorocarbon production, fluorinated derivative production, metal pickling, glass etching and cleaning, oil refining, uranium fuel production, and others (mainly pharmaceutical products, agrochemicals, and consumer products). Hydrofluoric acid is the primary fluorine source, an essential element used to produce fluorocarbons which are used in many end use industries like refrigerants. The fluorocarbon production is estimated to account for largest market share.

Asia Pacific is projected to account for the highest CAGR in the Hydrofluoric acid market during the forecast period

Asia Pacific region is the hub of the electronic market. Due to the, rapidly growing electronics and semiconductor industries, competitive manufacturing costs, abundant availability of raw materials at lower costs, high economic growth rate, and lower labor & transportation costs are fueling the market growth in the region.  The growth is also led by rapid industrialization, rising income levels, and increasing production of fluorocarbons and fluorinated derivatives.

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Hydrofluoric Acid Market Players

Hydrofluoric acid comprises major manufacturers such as Honeywell International Inc. (US), Solvay (Belgium), Stella Chemifa Corporation (Japan), Daikin (Japan), and Lanxess (Germany) were the leading players in the Hydrofluoric acid market. Expansions, acquisitions, joint ventures, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the Hydrofluoric acid market.

Hydrofluoric Acid Market Report Scope

This research report categorizes the global Hydrofluoric acid market on the basis of Grade, Application, and Region.

Hydrofluoric Acid Market, By Grade

• AHF
• DHF (Below 50% Concentration)
• DHF (Above 50% Concentration)

Hydrofluoric Acid Market, By Application

• Production of Fluorocarbons
• Production of Fluorinated Derivatives
• Metal Pickling
• Glass Etching & Cleaning
• Oil Refining
• Production of Uranium Fuel
• Others

Hydrofluoric Acid Market, By Region

• Asia Pacific (APAC)
• North America
• Europe
• South America
• Middle East & Africa

The market has been further analyzed for the key countries in each of these regions.

Recent Developments

• In November 2022, Solvay and Orbia (Mexico) entered into a joint venture. The joint venture will build one of the greatest capacities in North America for manufacturing suspension-grade polyvinylidene fluoride (PVDF) required for battery components. Orbia’s fluorinated solutions business Koura and Polymer Solutions business Vestolit will supply hydrofluoric acid, vinyl chloride monomer (VCM), and chlorine for the project.
• In September 2021, Honeywell International Inc and Ultium Cells LLC (Ohio, US) collaborated for battery project.  The quality control system (QCS) from Honeywell will be used by Ultium Cells LLC to guarantee the reliability of the lithium-ion batteries produced at its new facility in Lordstown, Ohio. These batteries require the use of hydrofluoric acid during production.
• In March, 2022 Daikin developed a new technology. Over 90% of hydrofluoric acid components are imported from Japan from China. The new Daikin technology reduces dependency on China for chip-making materials by using Mexican fluorite crystals, which are less pure than Chinese fluorite, to make hydrofluoric acid.

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