The Latin America, Middle East and Africa Hydrofluoric Acid Market would witness market growth of 7.6% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 237.8 Kilo Tonnes, showcasing a growth of 7.8% (2023-2030).
The alkylate produced through hydrofluoric acid alkylation exhibits excellent anti-knock characteristics, enhancing the octane rating and overall quality of gasoline blends. Despite its effectiveness in alkylation, the use of hydrofluoric acid in oil refining carries inherent safety and environmental concerns, necessitating stringent safety protocols and risk mitigation measures to ensure operational integrity and regulatory compliance within refinery operations. Therefore, the Saudi Arabia market use 3.05 kilo tonnes of hydrofluoric acid in oil refining by 2030.
The Brazil market dominated the LAMEA Hydrofluoric Acid Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $53.6 Million by 2030. The Argentina market is showcasing a CAGR of 8.8% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 7.2% during (2023 - 2030).
The hydrofluoric acid market refers to the industry producing, distributing, and consuming hydrofluoric acid (HF), a highly corrosive and versatile chemical compound. Hydrofluoric acid, also known as hydrogen fluoride in its aqueous form, is a colorless, fuming liquid or gas with a pungent odor. It is a strong acid that can dissolve various materials, including glass, metals, and minerals, making it valuable for numerous industrial applications.
HF is a key feedstock for producing numerous chemical compounds, including fluorinated derivatives, fluoropolymers, and pharmaceutical intermediates. As the chemical industry expands to meet the growing demand for specialty chemicals and high-performance materials, there is a corresponding increase in the demand for HF as a primary raw material. Similarly, as per the Industrial Development Bureau, the chemical industry in Abu Dhabi accounts for the greatest portion of the country’s GDP, contributing 53% in 2021 and attracting over AED 21 billion in investments.
The UAE’s oil refining industry produces high-value products such as high-octane gasoline to meet domestic transportation needs and international market demand. According to the International Trade Administration (ITA), the UAE is among the top ten oil-producing countries in the world. Abu Dhabi is home to around 96% of the nation’s approximately 100 billion barrels of known oil reserves, ranking sixth globally. Thus, the region’s growing oil and petrochemical industry is driving market growth.
Free Valuable Insights: The Worldwide Hydrofluoric Acid Market is Projected to reach USD 2.7 Billion by 2030, at a CAGR of 5.9%
Based on Grade, the market is segmented into Anhydrous and Diluted. Based on Application, the market is segmented into Fluorocarbon, Glass Etching, Oil Refining, Fluorinated Derivatives, Metal Pickling, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Grade (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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