Introduction

Hydrofluoric acid is used in chemical industry for the production of fluorine compounds like fluorides, fluorocarbons and fluoropolymers. Hydrofluoric acid is a colorless and clear liquid with a sharp odor. There are two main types of fluorocarbons mainly hydrofluorocarbons and hydrofluoroolefins. These are used as refrigerants. The demand for refrigerants is increasing hence this can increase the growth of hydrofluoric acid market. Hydrofluoric acid is mainly the solution of hydrogen fluoride. Hydrofluoric acid has various applications in many industries such as semiconductors, glass, oil, microelectronic and refrigerant industries.

Market Scope and Structure Analysis

COVID-19 Impact analysis

• Due to COVID-19 outbreak, the market of hydrofluoric acid was negatively affected.
• COVID-19 pandemic has disrupted the global supply chain by making it difficult for the manufactures to get the materials with minimum human contact. The use of hydrofluoric acid decreased, which reduced the demand for hydrofluoric acid market.
• Hydrofluoric acid is also used in manufacturing pharmaceutical products, which will help the industrial supply chain that was affected by COVID-19.
• The chemical industries and automotive industries were shut down during the COVID-19 pandemic that led to decrease in demand for hydrofluoric acid, which affected the hydrofluoric acid market.

Top Impacting Factors

The demand for fluorocarbon is increasing in the production of glass printing, glass cleaning, oil refining and others. This is driving the growth of the hydrofluoric acid market. In addition, fluorocarbons are also used as refrigerants and the demand for refrigerant is increasing; this will drive the hydrofluoric acid market. In addition, hydrofluoric acid is also used in cookware and cable wires. In cookware, it gives a matte finish with good enamel-resin retention and in cable wires it reduces equipment damage and smoke toxicity. The increasing sale of cookware and cable wire is driving the growth of the hydrofluoric acid market. Hydrofluoric acid is used as a raw material in the aluminum fluoride manufacturing and is also used in the manufacturing of aluminum. The application of aluminum in many industries such as industries and automotive is increasing, which will boost the demand for hydrofluoric acid market. However, the use of fluorocarbons refrigerants is restricted by some of countries, which restrains the growth of hydrofluoric acid market.

Market Trends

• The major players in the region of Asia-Pacific can be the largest shareholder because the manufactures of fluorocarbons are more in the region.
• Therefore, the countries such as Japan, South Korea, China, India, Indonesia and Malaysia, are growing as a manufacturing hub for many industries at a constant speed.
• Key market players of hydrofluoric acid market are adopting many strategic activities such as R&D activities, new product development and acquisition.
• The hydrofluoric acid act as a precursor to medicine like Prozac and thus the demand from pharmaceutical industry is increasing which increases the demand for hydrofluoric acid market.
• In Asia-Pacific, the demand from chemical industry, pharmaceutical industry and electronic industry is increasing and the application in automotive industry in the countries such as India, China and Japan, will increase the growth of hydrofluoric acid market.

Key Segments Covered

By Product Type

• Electronic Hydrofluoric Acid
• Industrial Hydrofluoric Acid              

By Application

• Semiconductor Industry
• Oil Industry
• Glass Industry
• Refrigerant Industry
• Microelectronic Industry

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Rest of Asia-Pacific
• LAMEA
  • Brazil
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of LAMEA

Key Benefits of the Report

• This study presents the analytical depiction of the hydrofluoric acid industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the hydrofluoric acid market share.
• The current market is quantitatively analyzed from 2020 to 2030 to highlight the hydrofluoric acid market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed hydrofluoric acid market analysis based on competitive intensity and how the competition will take shape in coming years

Questions answered in the hydrofluoric acid market Report

• Who are the leading market players active in hydrofluoric acid market?
• What current trends will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What future projections would help in taking further strategic steps?
•  What is “hydrofluoric acid market “?
• What does " hydrofluoric acid market “allow organizations to achieve?
• Which technologies combine to make hydrofluoric acid market “a critical organizational asset?
• What will be the anticipated growth rates for hydrofluoric acid market economy altogether and also for every segment inside?
• Which will be the niches at which players profiling with recent advancements should set a presence?
• What are the driving factors and opportunities in the market?