Hydrofluoric Acid Market: By Type, By Application, By End Use Industry, and Geography

Hydrofluoric Acid Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type (Anhydrous Hydrofluoric Acid, Diluted Hydrofluoric Acid), By Application (Etching and Cleaning, Metal Pickling, Oil Refining, and Other Applications), By End Use Industry (Petrochemical and Chemical, Metalworking, Electronics, Energy, Pharmaceuticals, Agriculture, and Others), and Region

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.

Hydrofluoric Acid Market Key Developments:

  • In September 2021, TSMC launched the first hydrofluoric acid waste regeneration system that uses hydrofluoric acid waste as raw material in cryolite production to maximize resource utilization value.

Hydrofluoric Acid Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

5.9%

Largest Market

Asia Pacific

Fastest Growing Market

North America

Hydrofluoric Acid Market Dynamics

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.

Hydrofluoric Acid Market Segmentation Analysis

Report Benchmarks

Details

Report Study Period

2024-2030

Market CAGR

5.9%

By Type

  • Anhydrous Hydrofluoric Acid
  • Diluted Hydrofluoric Acid

By Application

  • Etching and Cleaning
  • Metal Pickling
  • Oil Refining
  • Other Applications

By End User

  • Petrochemical and Chemical
  • Metalworking
  • Electronics
  • Energy
  • Pharmaceuticals
  • Agriculture
  • Others

By Region

  • North America
  • Europe
  • The Asia Pacific
  • Latin America
  • MEA

Key Features of the Report

  • The hydrofluoric acid market report provides granular level information about the market size, regional market share, historic market (2019-2023)and forecast (2024-2030)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario

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Frequently Asked Questions

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.

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Author

Prem Kumar

Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....

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

  • 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.

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