Over the recent past, a steady rise in the application of fluorocarbon in manufacturing processes has been observed. Oil refining, glass printing, refrigerants and cleaning are a few prominent applications of fluorocarbon. Rising demand for refrigerants is boosting the sales of hydrofluoric acid on the global front. The incorporation of hydrofluoric acid in cookware provides higher enamel-resin retention and a matte surface. While its use in cable wires reduces smoke toxicity and damage to equipment. With a global rise in sales of cable wires and cookware, the demand for hydrofluoric acid anticipates a significant amplification. Such a favourable backdrop creates promising growth prospects for the global hydrofluoric acid market.
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Automotive and Manufacturing Industries to Ramp Up Market Expansion
Hydrofluoric acid is instrumentally used as raw material in the production of aluminum and aluminum fluoride alike. Automotive and manufacturing sectors heavily rely on aluminum for the production of vehicles and other items. The present scenario highlights the importance of environmental conservation and the demand for lightweight vehicles. Consistent efforts are being made to maintain the efficiency and performance standards of these vehicles. To gain strong feats in the domain and expand their entire value chain, major players are densely oriented to indulge in mergers and acquisitions. This shall also propel substantial gains in terms of overall operational cost reductions through performing diverse tasks including the creation and promotion of final goods. That said, the hydrofluoric acid market is set to witness sound growth in the upcoming years.
Diversified Industrial Applications to Provide an Impetus to Hydrofluoric Acid Market Growth
Over the forecast timeline, the global hydrofluoric acid market is set to witness robust expansion. Industrial hydrofluoric acid essentially synthesizes fluorine compounds for further use. Fluorochemicals, fluorides, and fluorocarbons are a few major fluorine compounds produced during the process. Perceptively, air conditioners and refrigeration equipment leverage these fluorocarbons to provide the required cooling. Moreover, hydrofluoric acid is a key element used in aluminum production. The application base of aluminium expands across diverse end-use industries, such as packaging, manufacturing, and automotive, in turn propelling the demand for hydrofluoric acid. Hydrofluoric acid is also used as a cleaning agent in the automotive sector for effective rust, stains, and water spot removal.
With Robust Presence of Fluorocarbon Manufacturers, Asia Pacific Consolidates Stronghold Position in Hydrofluoric Acid Market
With a major revenue share, Asia Pacific is anticipated to lead the global hydrofluoric acid market. With a concentrated pool of fluorocarbon manufacturers, the region exhibits immense potential to expand. Extensive application in national defence, industrial and civil production sectors is further accelerating the pace of market growth. In the region, China seems to be highly lucrative with robust demand for metals, semiconductors, and electronics product range. On the other end of the market, Europe is likely to follow the suit with burgeoning product demand in oil refining, metal pickling, and uranium fuel manufacturing,
Key Market Players
Some of the most prominent players securing leading positions in the global hydrofluoric acid market include Lanxess AG, Gulf Fluor, Honeywell International, Buss ChemTech AG, Solvay SA, Tanfac Industries ltd., Fubao Group, Navin Fluorine International Limited, Merck KgaA, Sinochem International Corp., Gujarat Fluorochemicals Ltd., SRF Limited, Morita Chemical Industries Co. Ltd., Stella Chemifa Corporation, and Soulbrain Co. ltd.
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