Hydrofluoric Acid Market Is Likely To Up Demand At A USD 1.69 Billion By 2030Posted by Neha Bora on August 31st, 2023 San Francisco, 31 Aug 2023: The Report Hydrofluoric Acid Market Size, Share & Trends Analysis Report By Grade (Anhydrous, Diluted), By Application (Fluorocarbon, Metal Pickling), By Region (North America, EU, APAC), And Segment Forecasts, 2022 - 2030 The global hydrofluoric acid market size is expected to reach USD 1.69 billion by 2030, according to a new study by Grand View Research, Inc. The market is estimated to witness a CAGR of 5.6% during the forecast years. Increasing the consumption of hydrofluoric acid in the production of fluorochemicals and fluorine components worldwide is likely to boost the demand over the forecast period. It is an aqueous form of hydrogen fluoride and is mainly used for industrial purposes, such as metal cleaning, glass etching, and electronics production among others. It is also used in home rust removers. There are mainly two grades of the product available in the market; anhydrous and diluted hydrofluoric acid. The demand for anhydrous hydrofluoric acid is rising as it is less toxic and provides better quality at low temperatures. A rise in the production level of fluorochemicals in the U.S. and Germany is further favoring the global demand. In the Asia Pacific region, the increasing production of fluorocarbons and the presence of large-scale manufacturers are expected to boost the market growth. The product demand is anticipated to rise in India during the forecast period on the account of the increasing production of aluminum and aluminum products wherein hydrofluoric acid is a key raw material. The global market is highly fragmented with the presence of numerous players in both developed and developing economies. Key players are focusing on mergers and acquisitions to increase their presence throughout the value chain. The majority of the industry players are focusing on product advancements aiming at the development of new products with eco-friendly characteristics to cater to a broader application market. Access Research Report of Hydrofluoric Acid Market @ https://www.grandviewresearch.com/industry-analysis/hydrofluoric-acid-market-report Hydrofluoric Acid Market Report Highlights
Hydrofluoric Acid Market Report Scope
List of Key Players of Hydrofluoric Acid Market
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