Hydrofluoric Acid Market: China to Lead in Terms of Both Supply & Demand Throughout the Forecast Period: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2028

Hydrofluoric acid, also referred to as hydrogen fluoride (HF), is a weak acid and a highly toxic and corrosive substance. It is manufactured through two processes: Fluorspar and Fluorosilicic acid. More than 90% of the hydrogen fluoride is produced using fluorspar whereas fluorosilicic acid based hydrogen fluoride accounts for a relatively smaller share (~5-8%).

Hydrofluoric acid is majorly used as an intermediate or starting material for the manufacturing of a number of a fluorochemicals used as refrigerants and air conditioning agents. It can be used in the anhydrous form -- anhydrous hydrofluoric acid (AHF) -- or in the dilute form -- aqueous hydrofluoric acid. The dilution ratio can vary as per the requirements. Two most popularly used aqueous grades – 40%-50% and 70%-80% -- are used across a number of applications. Sales revenue of Hydrofluoric Acid is expected to be approximately 4,313.2 Mn in 2018.

Factors Influencing Global Hydrofluoric Acid Market Growth

Hydrofluoric Acid is used as an intermediate or starting material for the production of a number of fluorochemicals. It is widely used as a raw material and fluorine source for the manufacturing of fluorocarbons, such as hydro chlorofluorocarbons, hydro fluorocarbons and hydro fluoroolefins, used in air conditioning and refrigeration equipment. However, the use of such chemicals has been stringently regulated by government and environmental protection organisations, such as US EPA (Environmental Protection Agency). Fluoropolymers, such as PTFE, are increasingly being manufactured from hydrofluoric acid. That apart, growing use of hydrofluoric acid in cable wires, cookwares and other applications is projected to create traction in the Hydrofluoric Acid market long run.

Hydrofluoric acid is also used in the manufacturing of aluminium fluoride, which is predominantly used as a raw material for the manufacturing of aluminium. An increase in the use of aluminium across major end-use industries, such as automotive, packaging and others, has been noticed over the past few years, which will lead to the growth of hydrofluoric acid market.

Hydrofluoric acid is also used in steel pickling and metal treatment to remove layers and stains from a surface and give it shine and finish. Other industries, such as glass etching, uranium fuel production, petroleum catalyst, pharmaceuticals, herbicides and other niche applications, are also projected to drive the demand for hydrofluoric acid in the coming decade.

However, the global Hydrofluoric Acid Market is projected to face numerous challenges. For starters, fluorspar -- the raw material majorly used for hydrofluoric acid production -- is unevenly distributed, with more than 50% of the reserves located in China. To benefit the local manufacturers, China has restricted the export of fluorspar to the other regions, thereby creating a significantly negative impact on the profitability and margins of manufacturers.

Thus, the manufacturers are entering into long-term supply agreements with raw material suppliers and are also investing in the development of other novel technologies that do not require fluorspar for the production of hydrofluoric acid.Ho

Global Hydrofluoric Acid Market Segmentation and Forecast

The Global Hydrofluoric Acid Market is segmented on the basis of grade, application and region. On the basis of grade, the Global Hydrofluoric Acid Market is segmented into anhydrous and aqueous.

On the basis of application, the Global Hydrofluoric Acid Market can be segmented into fluorochemicals, steel pickling/metal treatment, petroleum catalyst, glass etching, electronics and semiconductors and others. On the basis of region, the Global Hydrofluoric Acid Market can be segmented into North America, Latin America, Eastern Europe, Western Europe, SEA and Pacific, China, India, Japan and MEA.