The Global Hydrofluoric Acid Market size is expected to reach $2.7 billion by 2030, rising at a market growth of 5.9% CAGR during the forecast period. In the year 2022, the market attained a volume of 2512.3 Kilo Tonnes, experiencing a growth of 5.1% (2019-2022).
Many oil refineries invest in capacity expansion projects or retrofit existing units to increase their alkylation capacity. Consequently, the oil refining segment would generate an 8.0% share of the market by 2030. Also, the demand of hydrofluoric acid in Saudi Arabia will approximately 3.05 kilo tonnes in oil refining by 2030. This expansion is driven by population growth, urbanization, and increasing vehicle ownership, leading to higher demand for gasoline and other refined petroleum products.
Fluoropolymers, such as polytetrafluoroethylene (PTFE) and polyvinylidene fluoride (PVDF), and fluorocarbons, including refrigerants like hydrochlorofluorocarbons (HCFCs) and hydrofluorocarbons (HFCs), are widely used in various industries for their unique properties such as chemical resistance, thermal stability, and low friction. Therefore, the growing demand for fluorine-based products drives the market's growth.
Additionally, Technological advancements enable manufacturers to develop more efficient production processes for hydrofluoric acid. Innovations such as improved reactor designs, optimized reaction conditions, and enhanced catalyst systems help increase the yield and purity of hydrofluoric acid, leading to higher production rates and reduced manufacturing costs. Thus, the advancements in hydrofluoric acid production technologies are driving the market's growth.
However, Fluorspar is the primary raw material used in hydrofluoric acid production, accounting for a significant portion of manufacturing costs. Fluctuations in fluorspar prices, driven by factors such as supply-demand dynamics, geopolitical tensions, and currency fluctuations, directly impact the production cost of hydrofluoric acid. Sulfuric acid is another critical raw material used in hydrofluoric acid production. Therefore, volatility in raw material prices hinders the market's growth.
By Grade Analysis
Based on grade, the market is bifurcated into anhydrous and diluted. The diluted segment procured a 41.1% revenue share in the market in 2022. Diluted hydrofluoric acid, also known as aqueous hydrofluoric acid, is inherently safer to handle. Aqueous HF solutions are typically less corrosive and less volatile, reducing the risk of accidents and injuries associated with handling concentrated acids. Industries prioritizing safety in their operations, such as laboratories, research institutions, and smaller-scale manufacturing facilities, prefer diluted HF solutions for their lower risk profile.
By Application Analysis
On the basis of application, the market is segmented into glass etching, oil refining, fluorocarbon, fluorinated derivatives, metal pickling, and others. The fluorocarbon segment recorded the 54% revenue share in the market in 2022. In terms of volume, Glass Etching segment would produce 188.7 kilo tonnes in 2022. Hydrofluoric acid is a primary raw material in the production of fluorocarbons. Fluorocarbons, such as hydrochlorofluorocarbons (HCFCs), chlorofluorocarbons (CFCs), and hydrofluorocarbons (HFCs), are widely used in various industries, including refrigeration, air conditioning, foam blowing, and aerosol propellants. These fluorocarbons offer unique properties such as thermal stability, chemical inertness, and low toxicity, making them indispensable in modern applications.
By Regional Analysis
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region generated a 24.4% revenue share in the market. North America is home to a significant semiconductor manufacturing industry. HF is essential for etching and cleaning silicon wafers while fabricating integrated circuits and electronic components. With the growing demand for electronics and semiconductor devices, driven by trends such as autonomous vehicles and artificial intelligence, the demand for HF in North America's electronics industry is increasing.
List of Key Companies Profiled
- Dongyue Group Limited
- Daikin Industries Ltd.
- Honeywell International, Inc.
- Lanxess AG
- Solvay SA
- Sinochem Holdings Corporation Ltd. (SASAC)
- Fluorchemie Dohna GmbH
- Stella Chemifa Corporation
- Yingpeng Chemical Co., Ltd.
- Orbia Advance Corporation S.A.B. de CV
Global Hydrofluoric Acid Market Report Segmentation
By Grade (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
- Fluorocarbon
- Glass Etching
- Oil Refining
- Fluorinated Derivatives
- Metal Pickling
- Others
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Australia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1.Market Scope & Methodology
- 1.1Market Definition
- 1.2Objectives
- 1.3Market Scope
- 1.4Segmentation
- 1.4.1Global Hydrofluoric Acid Market, by Grade
- 1.4.2Global Hydrofluoric Acid Market, by Application
- 1.4.3Global Hydrofluoric Acid Market, by Geography
- 1.5Methodology for the research
Chapter 2.Market at a Glance
Chapter 3.Market Overview
- 3.1Introduction
- 3.1.1Overview
- 3.1.1.1Market Composition and Scenario
- 3.2Key Factors Impacting the Market
- 3.2.1Market Drivers
- 3.2.2Market Restraints
- 3.2.3Market Opportunities
- 3.2.4Market Challenges
- 3.3Porter's Five Forces Analysis
Chapter 4.Global Hydrofluoric Acid Market by Grade
- 4.1Global Anhydrous Market by Region
- 4.2Global Diluted Market by Region
Chapter 5.Global Hydrofluoric Acid Market by Application
- 5.1Global Fluorocarbon Market by Region
- 5.2Global Glass Etching Market by Region
- 5.3Global Oil Refining Market by Region
- 5.4Global Fluorinated Derivatives Market by Region
- 5.5Global Metal Pickling Market by Region
- 5.6Global Others Market by Region
Chapter 6.Global Hydrofluoric Acid Market by Region
- 6.1North America Hydrofluoric Acid Market
- 6.1.1North America Hydrofluoric Acid Market by Grade
- 6.1.1.1North America Anhydrous Market by Country
- 6.1.1.2North America Diluted Market by Country
- 6.1.2North America Hydrofluoric Acid Market by Application
- 6.1.2.1North America Fluorocarbon Market by Country
- 6.1.2.2North America Glass Etching Market by Country
- 6.1.2.3North America Oil Refining Market by Country
- 6.1.2.4North America Fluorinated Derivatives Market by Country
- 6.1.2.5North America Metal Pickling Market by Country
- 6.1.2.6North America Others Market by Country
- 6.1.3North America Hydrofluoric Acid Market by Country
- 6.1.3.1US Hydrofluoric Acid Market
- 6.1.3.1.1US Hydrofluoric Acid Market by Grade
- 6.1.3.1.2US Hydrofluoric Acid Market by Application
- 6.1.3.2Canada Hydrofluoric Acid Market
- 6.1.3.2.1Canada Hydrofluoric Acid Market by Grade
- 6.1.3.2.2Canada Hydrofluoric Acid Market by Application
- 6.1.3.3Mexico Hydrofluoric Acid Market
- 6.1.3.3.1Mexico Hydrofluoric Acid Market by Grade
- 6.1.3.3.2Mexico Hydrofluoric Acid Market by Application
- 6.1.3.4Rest of North America Hydrofluoric Acid Market
- 6.1.3.4.1Rest of North America Hydrofluoric Acid Market by Grade
- 6.1.3.4.2Rest of North America Hydrofluoric Acid Market by Application
- 6.2Europe Hydrofluoric Acid Market
- 6.2.1Europe Hydrofluoric Acid Market by Grade
- 6.2.1.1Europe Anhydrous Market by Country
- 6.2.1.2Europe Diluted Market by Country
- 6.2.2Europe Hydrofluoric Acid Market by Application
- 6.2.2.1Europe Fluorocarbon Market by Country
- 6.2.2.2Europe Glass Etching Market by Country
- 6.2.2.3Europe Oil Refining Market by Country
- 6.2.2.4Europe Fluorinated Derivatives Market by Country
- 6.2.2.5Europe Metal Pickling Market by Country
- 6.2.2.6Europe Others Market by Country
- 6.2.3Europe Hydrofluoric Acid Market by Country
- 6.2.3.1Germany Hydrofluoric Acid Market
- 6.2.3.1.1Germany Hydrofluoric Acid Market by Grade
- 6.2.3.1.2Germany Hydrofluoric Acid Market by Application
- 6.2.3.2UK Hydrofluoric Acid Market
- 6.2.3.2.1UK Hydrofluoric Acid Market by Grade
- 6.2.3.2.2UK Hydrofluoric Acid Market by Application
- 6.2.3.3France Hydrofluoric Acid Market
- 6.2.3.3.1France Hydrofluoric Acid Market by Grade
- 6.2.3.3.2France Hydrofluoric Acid Market by Application
- 6.2.3.4Russia Hydrofluoric Acid Market
- 6.2.3.4.1Russia Hydrofluoric Acid Market by Grade
- 6.2.3.4.2Russia Hydrofluoric Acid Market by Application
- 6.2.3.5Spain Hydrofluoric Acid Market
- 6.2.3.5.1Spain Hydrofluoric Acid Market by Grade
- 6.2.3.5.2Spain Hydrofluoric Acid Market by Application
- 6.2.3.6Italy Hydrofluoric Acid Market
- 6.2.3.6.1Italy Hydrofluoric Acid Market by Grade
- 6.2.3.6.2Italy Hydrofluoric Acid Market by Application
- 6.2.3.7Rest of Europe Hydrofluoric Acid Market
- 6.2.3.7.1Rest of Europe Hydrofluoric Acid Market by Grade
- 6.2.3.7.2Rest of Europe Hydrofluoric Acid Market by Application
- 6.3Asia Pacific Hydrofluoric Acid Market
- 6.3.1Asia Pacific Hydrofluoric Acid Market by Grade
- 6.3.1.1Asia Pacific Anhydrous Market by Country
- 6.3.1.2Asia Pacific Diluted Market by Country
- 6.3.2Asia Pacific Hydrofluoric Acid Market by Application
- 6.3.2.1Asia Pacific Fluorocarbon Market by Country
- 6.3.2.2Asia Pacific Glass Etching Market by Country
- 6.3.2.3Asia Pacific Oil Refining Market by Country
- 6.3.2.4Asia Pacific Fluorinated Derivatives Market by Country
- 6.3.2.5Asia Pacific Metal Pickling Market by Country
- 6.3.2.6Asia Pacific Others Market by Country
- 6.3.3Asia Pacific Hydrofluoric Acid Market by Country
- 6.3.3.1China Hydrofluoric Acid Market
- 6.3.3.1.1China Hydrofluoric Acid Market by Grade
- 6.3.3.1.2China Hydrofluoric Acid Market by Application
- 6.3.3.2Japan Hydrofluoric Acid Market
- 6.3.3.2.1Japan Hydrofluoric Acid Market by Grade
- 6.3.3.2.2Japan Hydrofluoric Acid Market by Application
- 6.3.3.3India Hydrofluoric Acid Market
- 6.3.3.3.1India Hydrofluoric Acid Market by Grade
- 6.3.3.3.2India Hydrofluoric Acid Market by Application
- 6.3.3.4South Korea Hydrofluoric Acid Market
- 6.3.3.4.1South Korea Hydrofluoric Acid Market by Grade
- 6.3.3.4.2South Korea Hydrofluoric Acid Market by Application
- 6.3.3.5Singapore Hydrofluoric Acid Market
- 6.3.3.5.1Singapore Hydrofluoric Acid Market by Grade
- 6.3.3.5.2Singapore Hydrofluoric Acid Market by Application
- 6.3.3.6Australia Hydrofluoric Acid Market
- 6.3.3.6.1Australia Hydrofluoric Acid Market by Grade
- 6.3.3.6.2Australia Hydrofluoric Acid Market by Application
- 6.3.3.7Rest of Asia Pacific Hydrofluoric Acid Market
- 6.3.3.7.1Rest of Asia Pacific Hydrofluoric Acid Market by Grade
- 6.3.3.7.2Rest of Asia Pacific Hydrofluoric Acid Market by Application
- 6.4LAMEA Hydrofluoric Acid Market
- 6.4.1LAMEA Hydrofluoric Acid Market by Grade
- 6.4.1.1LAMEA Anhydrous Market by Country
- 6.4.1.2LAMEA Diluted Market by Country
- 6.4.2LAMEA Hydrofluoric Acid Market by Application
- 6.4.2.1LAMEA Fluorocarbon Market by Country
- 6.4.2.2LAMEA Glass Etching Market by Country
- 6.4.2.3LAMEA Oil Refining Market by Country
- 6.4.2.4LAMEA Fluorinated Derivatives Market by Country
- 6.4.2.5LAMEA Metal Pickling Market by Country
- 6.4.2.6LAMEA Others Market by Country
- 6.4.3LAMEA Hydrofluoric Acid Market by Country
- 6.4.3.1Brazil Hydrofluoric Acid Market
- 6.4.3.1.1Brazil Hydrofluoric Acid Market by Grade
- 6.4.3.1.2Brazil Hydrofluoric Acid Market by Application
- 6.4.3.2Argentina Hydrofluoric Acid Market
- 6.4.3.2.1Argentina Hydrofluoric Acid Market by Grade
- 6.4.3.2.2Argentina Hydrofluoric Acid Market by Application
- 6.4.3.3UAE Hydrofluoric Acid Market
- 6.4.3.3.1UAE Hydrofluoric Acid Market by Grade
- 6.4.3.3.2UAE Hydrofluoric Acid Market by Application
- 6.4.3.4Saudi Arabia Hydrofluoric Acid Market
- 6.4.3.4.1Saudi Arabia Hydrofluoric Acid Market by Grade
- 6.4.3.4.2Saudi Arabia Hydrofluoric Acid Market by Application
- 6.4.3.5South Africa Hydrofluoric Acid Market
- 6.4.3.5.1South Africa Hydrofluoric Acid Market by Grade
- 6.4.3.5.2South Africa Hydrofluoric Acid Market by Application
- 6.4.3.6Nigeria Hydrofluoric Acid Market
- 6.4.3.6.1Nigeria Hydrofluoric Acid Market by Grade
- 6.4.3.6.2Nigeria Hydrofluoric Acid Market by Application
- 6.4.3.7Rest of LAMEA Hydrofluoric Acid Market
- 6.4.3.7.1Rest of LAMEA Hydrofluoric Acid Market by Grade
- 6.4.3.7.2Rest of LAMEA Hydrofluoric Acid Market by Application
Chapter 7.Company Profiles
- 7.1Dongyue Group Limited
- 7.1.1Company Overview
- 7.1.2Financial Analysis
- 7.1.3Segmental and Regional Analysis
- 7.1.4Research & Development Expenses
- 7.1.5SWOT Analysis
- 7.2Daikin Industries Ltd.
- 7.2.1Company Overview
- 7.2.2Financial Analysis
- 7.2.3Segmental and Regional Analysis
- 7.2.4Research & Development Expenses
- 7.2.5SWOT Analysis
- 7.3Honeywell International, Inc.
- 7.3.1Company Overview
- 7.3.2Financial Analysis
- 7.3.3Segmental and Regional Analysis
- 7.3.4Research & Development Expenses
- 7.3.5SWOT Analysis
- 7.4Lanxess AG
- 7.4.1Company Overview
- 7.4.2Financial Analysis
- 7.4.3Segmental and Regional Analysis
- 7.4.4Research & Development Expenses
- 7.4.5SWOT Analysis
- 7.5Solvay SA
- 7.5.1Company Overview
- 7.5.2Financial Analysis
- 7.5.3Segmental and Regional Analysis
- 7.5.4Research & Development Expenses
- 7.5.5Recent strategies and developments:
- 7.5.5.1Partnerships, Collaborations, and Agreements:
- 7.5.6SWOT Analysis
- 7.6Sinochem Holdings Corporation Ltd. (SASAC)
- 7.6.1Company Overview
- 7.6.2SWOT Analysis
- 7.7Fluorchemie Dohna GmbH
- 7.7.1Company Overview
- 7.7.2SWOT Analysis
- 7.8Stella Chemifa Corporation
- 7.8.1Company Overview
- 7.8.2Financial Analysis
- 7.8.3Segmental and Regional Analysis
- 7.8.4SWOT Analysis
- 7.9Yingpeng Chemical Co., Ltd.
- 7.9.1Company Overview
- 7.9.2SWOT Analysis
- 7.10.Orbia Advance Corporation S.A.B. de CV
- 7.10.1Company Overview
- 7.10.2Financial Analysis
- 7.10.3Segmental and Regional Analysis
- 7.10.4SWOT Analysis
Chapter 8.Winning Imperatives of Hydrofluoric Acid Market