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Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....
Hydrofluoric Acid Market: By Type, By Application, By End Use Industry, and Geography
Hydrofluoric Acid Market size was valued at US$ 3,648.2 Million in 2023 and is poised to grow at a CAGR of 5.9% from 2024-2030. The hydrofluoric acid market refers to the global industry involved in the production, distribution, and sale of hydrofluoric acid or hydrogen fluoride (HF), a highly corrosive and toxic chemical compound. Hydrofluoric acid is a strong acid and is one of the most potent mineral acids. It is unique among mineral acids because of its strong ability to dissolve various materials, including glass, ceramics, metals, and even organic compounds. This property makes it highly useful in various industrial processes and applications. The hydrofluoric acid market is significantly driven by the growing demand in the chemical industry. Hydrofluoric acid is utilized as a reagent in various chemical reactions for the production of fluorine-containing compounds and specialty chemicals. It is employed in the synthesis of fluorine-based products like fluorocarbons, fluoropolymers, and fluorinated pharmaceuticals.
Moreover, rising petrochemical industry also contributes to the growth of the hydrofluoric acid market as it needs hydrofluoric acid as a catalyst in the alkylation process, which is a crucial step in the production of high-octane gasoline components (alkylates) from low-octane hydrocarbons like propylene and butylene. Furthermore, with the expansion of industrial sectors in emerging economies, the demand for hydrofluoric acid is expected to witness significant growth. However, hydrofluoric acid is a highly corrosive and toxic substance that poses significant safety risks to human health and the environment. Hence, the stringent safety measures required for handling and transporting hydrofluoric acid can limit its widespread use and increase operational costs for users. Market players can explore collaborations, partnerships, and acquisitions to expand their product portfolio, enter new markets, and strengthen their position in the hydrofluoric acid market. For instance, in March 2023, Navin Fluorine Advanced Sciences Limited (NFASL) invested ?4.5 billion to set up a new hydrofluoric acid (HF) capacity at Dahej to expand its production capacity.
Study Period
2024-2030Base Year
2023CAGR
5.9%Largest Market
Asia PacificFastest Growing Market
North America
The expanding electronics and semiconductor industry is majorly driving the hydrofluoric acid market. The electronics industry relies on hydrofluoric acid for etching and cleaning applications in the manufacturing of microchips and electronic components. The increasing demand for electronic devices and advancements in technology contribute to the growth of the hydrofluoric acid market. Moreover, growing petrochemical industries coupled with high demand for oil refining process further accelerate the growth of the hydrofluoric acid market. Hydrofluoric acid is used in the petroleum refining process, especially in the alkylation unit for gasoline production. The rising demand for gasoline and other refined petroleum products drives the need for hydrofluoric acid in the oil refining industry.
Report Benchmarks |
Details |
Report Study Period |
2024-2030 |
Market CAGR |
5.9% |
By Type |
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By Application |
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By End User |
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By Region |
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The global hydrofluoric acid market size was valued at US$ 3,648.2 million in 2023 and is projected to grow at a CAGR of 5.9% from 2024- 2030.
Increasing investments in emerging economies and rising collaborations and mergers are some of the factors that create potential opportunities for the growth of the hydrofluoric acid market.
The technological advancement in production is one of the major trends in the hydrofluoric acid market.
Honeywell International Inc., Do-Fluoride Chemicals Co., Ltd., Solvay S.A., Daikin Industries, Ltd., Lanxess Aktiengesellschaft, Guichon Valves, Verder Liquids BV, Columbus Chemicals, Sigma-Aldrich Corporation, asecos GmbH, Fluorchemie Gruppe, Mexichem S.A.B. de C.V., Sinochem Group, Grainger, Inc., Zhejiang Yingpeng Chemical Co., Ltd. are a few companies operating in hydrofluoric acid market.
1.Executive Summary |
2.Global Hydrofluoric Acid Market Introduction |
2.1.Global Hydrofluoric Acid Market - Taxonomy |
2.2.Global Hydrofluoric Acid Market - Definitions |
2.2.1. Type |
2.2.2.Application |
2.2.3.End User |
2.2.4.Region |
3.Global Hydrofluoric Acid Market Dynamics |
3.1. Drivers |
3.2. Restraints |
3.3. Opportunities/Unmet Needs of the Market |
3.4. Trends |
3.5. Product Landscape |
3.6. New Product Launches |
3.7. Impact of COVID 19 on Market |
4.Global Hydrofluoric Acid Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
4.3. Market Opportunity Analysis |
5.Global Hydrofluoric Acid Market By Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
5.1. Anhydrous Hydrofluoric Acid |
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.1.3. Market Opportunity Analysis |
5.2. Diluted Hydrofluoric Acid |
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.2.3. Market Opportunity Analysis |
6.Global Hydrofluoric Acid Market By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
6.1. Etching and Cleaning |
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.1.3. Market Opportunity Analysis |
6.2. Metal Pickling |
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.2.3. Market Opportunity Analysis |
6.3. Oil Refining |
6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.3.3. Market Opportunity Analysis |
6.4. Other Applications |
6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.4.3. Market Opportunity Analysis |
7.Global Hydrofluoric Acid Market By End User, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
7.1. Petrochemical and Chemical |
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.1.3. Market Opportunity Analysis |
7.2. Metalworking |
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.2.3. Market Opportunity Analysis |
7.3. Electronics |
7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.3.3. Market Opportunity Analysis |
7.4. Energy |
7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.4.3. Market Opportunity Analysis |
7.5. Pharmaceuticals |
7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.5.3. Market Opportunity Analysis |
7.6. Agriculture |
7.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.6.3. Market Opportunity Analysis |
7.7. Others |
7.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.7.3. Market Opportunity Analysis |
8.Global Hydrofluoric Acid Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
8.1. North America |
8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.1.3. Market Opportunity Analysis |
8.2. Europe |
8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.2.3. Market Opportunity Analysis |
8.3. Asia Pacific (APAC) |
8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.3.3. Market Opportunity Analysis |
8.4. Middle East and Africa (MEA) |
8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.4.3. Market Opportunity Analysis |
8.5. Latin America |
8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.5.3. Market Opportunity Analysis |
9.North America Hydrofluoric Acid Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
9.1. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.1.1.Anhydrous Hydrofluoric Acid |
9.1.2.Diluted Hydrofluoric Acid |
9.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.2.1.Etching and Cleaning |
9.2.2.Metal Pickling |
9.2.3.Oil Refining |
9.2.4.Other Applications |
9.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.3.1.Petrochemical and Chemical |
9.3.2.Metalworking |
9.3.3.Electronics |
9.3.4.Energy |
9.3.5.Pharmaceuticals |
9.3.6.Agriculture |
9.3.7.Others |
9.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.4.1.United States of America (USA) |
9.4.2.Canada |
10.Europe Hydrofluoric Acid Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
10.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.1.1.Anhydrous Hydrofluoric Acid |
10.1.2.Diluted Hydrofluoric Acid |
10.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.2.1.Etching and Cleaning |
10.2.2.Metal Pickling |
10.2.3.Oil Refining |
10.2.4.Other Applications |
10.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.3.1.Petrochemical and Chemical |
10.3.2.Metalworking |
10.3.3.Electronics |
10.3.4.Energy |
10.3.5.Pharmaceuticals |
10.3.6.Agriculture |
10.3.7.Others |
10.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.4.1.Germany |
10.4.2.France |
10.4.3.Italy |
10.4.4.United Kingdom (UK) |
10.4.5.Spain |
11.Asia Pacific (APAC) Hydrofluoric Acid Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
11.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.1.1.Anhydrous Hydrofluoric Acid |
11.1.2.Diluted Hydrofluoric Acid |
11.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.2.1.Etching and Cleaning |
11.2.2.Metal Pickling |
11.2.3.Oil Refining |
11.2.4.Other Applications |
11.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.3.1.Petrochemical and Chemical |
11.3.2.Metalworking |
11.3.3.Electronics |
11.3.4.Energy |
11.3.5.Pharmaceuticals |
11.3.6.Agriculture |
11.3.7.Others |
11.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.4.1.China |
11.4.2.India |
11.4.3.Australia and New Zealand (ANZ) |
11.4.4.Japan |
11.4.5.Rest of APAC |
12.Middle East and Africa (MEA) Hydrofluoric Acid Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
12.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.1.1.Anhydrous Hydrofluoric Acid |
12.1.2.Diluted Hydrofluoric Acid |
12.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.2.1.Etching and Cleaning |
12.2.2.Metal Pickling |
12.2.3.Oil Refining |
12.2.4.Other Applications |
12.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.3.1.Petrochemical and Chemical |
12.3.2.Metalworking |
12.3.3.Electronics |
12.3.4.Energy |
12.3.5.Pharmaceuticals |
12.3.6.Agriculture |
12.3.7.Others |
12.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.4.1.GCC Countries |
12.4.2.South Africa |
12.4.3.Rest of MEA |
13.Latin America Hydrofluoric Acid Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
13.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.1.1.Anhydrous Hydrofluoric Acid |
13.1.2.Diluted Hydrofluoric Acid |
13.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.2.1.Etching and Cleaning |
13.2.2.Metal Pickling |
13.2.3.Oil Refining |
13.2.4.Other Applications |
13.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.3.1.Petrochemical and Chemical |
13.3.2.Metalworking |
13.3.3.Electronics |
13.3.4.Energy |
13.3.5.Pharmaceuticals |
13.3.6.Agriculture |
13.3.7.Others |
13.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.4.1.Brazil |
13.4.2.Mexico |
13.4.3.Rest of LA |
14. Competition Landscape |
14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
14.2.1.Honeywell International Inc. |
14.2.2.Do-Fluoride Chemicals Co., Ltd., |
14.2.3.Solvay S.A. |
14.2.4.Daikin Industries, Ltd. |
14.2.5.Lanxess Aktiengesellschaft |
14.2.6.Guichon Valves |
14.2.7.Verder Liquids BV |
14.2.8.Columbus Chemicals |
14.2.9.Sigma-Aldrich Corporation |
14.2.10.asecos GmbH |
14.2.11.Fluorchemie Gruppe |
14.2.12.Mexichem S.A.B. de C.V. |
14.2.13.Sinochem Group |
14.2.14.Grainger, Inc. |
14.2.15.Zhejiang Yingpeng Chemical Co., Ltd. |
15. Research Methodology |
16. Appendix and Abbreviations |
Key Market Players