According to a new report, published by KBV research, The Global Hydrofluoric Acid Market size is expected to reach $2.7 billion by 2030, rising at a market growth of 5.9% CAGR during the forecast period. In the year 2022, the market attained a volume of 2512.3 Kilo Tonnes, experiencing a growth of 5.1% (2019-2022).
The hydrofluoric acid market is expanding in emerging economies as industries in these regions industrialize and modernize. Rapid urbanization, infrastructure development, and economic growth drive demand for hydrofluoric acid in oil refining, petrochemicals, electronics, and manufacturing sectors. Market expansion in emerging economies presents growth opportunities for hydrofluoric acid manufacturers and suppliers, leading to increased investments and partnerships in these regions.
The Anhydrous segment is leading the Global Hydrofluoric Acid Market by Grade in 2022 thereby, achieving a market value of $1.5 Billion by 2030, growing at a CAGR of 5.6 % during the forecast period. Anhydrous hydrofluoric acid, also known as anhydrous hydrogen fluoride (AHF), typically has a higher purity level than its aqueous counterpart. This high purity is essential for many industrial applications, especially in electronics and semiconductor manufacturing industries, where even trace impurities can affect product quality and performance. As a result, industries that require high-purity hydrofluoric acid prefer the anhydrous form.
The fluorinated derivatives segment is anticipated to have a CAGR of 6.3% during (2023 - 2030). Fluorinated derivatives have diverse applications across various industries, including pharmaceuticals, agrochemicals, specialty chemicals, and materials science. These derivatives exhibit thermal stability, chemical inertness, and biocompatibility properties, making them valuable in various applications. The requirement for hydrofluoric acid as a crucial raw material in producing fluorinated derivatives is increasing due to industries' ongoing innovation and development of new goods and materials.
Full Report: https://www.kbvresearch.com/hydrofluoric-acid-market/
The Asia Pacific region dominated the Global Hydrofluoric Acid Market by Region in 2022, thereby, achieving a market value of $1.1 Billion by 2030, growing at a CAGR of 6.3 % during the forecast period. The Europe market would witness a CAGR of 5.4% during (2023 - 2030). Additionally, The North America market is experiencing a CAGR of 5.5% during (2023 - 2030).
By Grade (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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