| Source: Rationalstat LLC Rationalstat LLC
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Wilmington, Delaware, Nov. 13, 2023 (GLOBE NEWSWIRE) — Global Hydrofluoric Acid Market size is valued at US$ 2.4 billion in 2023 and is predicted to rise at a substantial CAGR of 5.6% during the forecast period of 2023 and 2030 according to RationalStat analysis.
Market Definition, Market Scope, and Report Overview
HF is a crucial raw ingredient in manufacturing fluorochemicals, a class of compounds containing fluorine. The requirement for HF as a crucial ingredient has been pushed by the demand for fluorochemicals in a variety of sectors. Hydrofluorocarbons (HFCs), which are frequently used as refrigerants and in air conditioning systems, are made using HF. Hydrofluorocarbons (HFCs) have replaced ozone-depleting compounds like chlorofluorocarbons (CFCs) and hydrochlorofluorocarbons (HCFCs), and their demand has increased the requirement for HF.
Additionally, HF is employed in the production of lithium-ion batteries, namely in the preparation of the electrolyte. The necessity for HF in battery manufacture has been influenced by the expansion of the electric car industry and the rise in popularity of portable electronic devices.
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Global Hydrofluoric Acid Market: Segmental and Market Share Analysis
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Competition Analysis and Market Structure
Some of the prominent players adopt various strategies to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, and partnerships and collaborations are some of the strategies followed by industry players, some of the key developments in the hydrofluoric acid market include,
Some of the prominent players and suppliers operating and contributing significantly to the hydrofluoric acid market growth include Gulf Fluor, Lanxezz AG, Solvay SA, Honeywell International, Buss chemTech Ag, Tanfac Industries Ltd, Merck KGaA, Gujarat Fluorochemicals Ltd, Stella Chemifa Corporation, Soulbrain Co. Ltd, Morita Chemical Industries Co Ltd, SRF Limited, and Fubao Group, among others.
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RationalStat has segmented the hydrofluoric acid market based on grade, application, and region
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Key Questions Answered in the Hydrofluoric Acid Report:
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