Hydrofluoric Acid Industry Overview
The global hydrofluoric acid market size was valued at USD 1.04 billion in 2021 and is expected to witness a compound annual growth rate (CAGR) of 5.6% from 2022 to 2030.
The growth is attributed to the growing product utilization in several end-use applications, such as refrigerants, metal, fluorocarbon, aluminum, plastics, and oil refining among others. Moreover, the growing demand for high-grade acids is likely to boost the product demand over the forecast period. Hydrofluoric acid is widely used in the chemical industry for the production of various fluorine components, such as fluorides, fluoropolymers, and fluorocarbon among others.
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Hydrofluoro-olefins and hydrofluorcarbons are also used extensively in refrigerants worldwide due to their high-quality attributes. It is also used in manufacturing aluminum fluoride that has wide application in numerous aluminum products. The key raw materials used to manufacture hydrofluoric acid include fluorspar and sulphuric acid. Fluorspar is a source of fluorine that can be found naturally and artificially with the help of hydrothermal. It is widely used in the manufacturing process of uranium fuel, aluminum, steel, gasoline, refrigerants, and insulating foams among others.
The product is produced by heating purified fluorspar with concentrated sulfuric acid to make gas. It is then condensed by cooling and dissolving in water. Moreover, it is generally used in plastic containers since it is highly reactive to glass and moderately reactive to metals. It is sold in different packaging options, such as drums, IBCs, and jerrycans, according to the quantity and needs of the customer. These containers are built with the highest safety standards and offer tailored products.
Browse through Grand View Research’s Organic Chemicals Industry Research Reports.
- Acetic Acid Market – The global acetic acid market was valued at USD 20.6 billion in 2021 and is anticipated to witness a compound annual growth rate (CAGR) of 4.9% from 2022 to 2030.
- Ethoxylates Market – The global ethoxylates market size was valued at USD 13.2 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 4.0% from 2020 to 2027.
Key Companies profiled:
Some prominent players in the global hydrofluoric acid market include
- Dongyue Group
- Yingpeng Chemical
- Honeywell International Inc.
- Stella Chemifa Corp.
- Koura Global
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