Hydrofluoric Acid Market is predicted to reach USD 5.05 billion at a CAGR of 5.35% during the forecast period 2023-2030

Market Research Future (MRFR) has published on the “Global Hydrofluoric Acid Market”.

The Hydrofluoric Acid market is estimated to register a CAGR of 5.35% during the forecast period of 2023 to 2030.

MRFR recognizes the following companies as the key players in the Global Hydrofluoric Acid market— Honeywell International Inc. (US), Daikin Industries, Ltd (Japan), LANXESS (Germany), Solvay (Belgium), Stella Chemifa Corporation (Japan), Tanfac Industries Ltd (France), The Chemours Company (US), SRF Limited (India), Navin Fluorine International Limited (India), Merck KGaA (Germany), Morita Chemical Industries Co., Ltd.  (Germany), Yingpeng Group (China), Fubao Group (China), Buss Chemtech AG (Switzerland) and Gulf Fluor (UAE)

Market Highlights

The global Hydrofluoric Acid market is accounted for to register a CAGR of 5.35% during the forecast period and is estimated to reach USD 5.05 billion by 2030.

Growing demand for fluorine compounds for industrial purposes

According to the World Health Organization, presently around 3.8% of the global population is experiencing depression across the age spectrum and globally around 280 million individuals are diagnosed with depression. Depression and Bipolar Support Alliance data on depressive disorders have highlighted that approximately 17.3 million adult population in the US are affected by depressive disorder in 2017. In 2018, around 1.9 million global population in the age group 3 to 17 have been identified with depression. Depression has become a more common health problem among US Citizens stated the Professor of the Graduate School of Public Health and Health Policy, University of New York in an article published in the U.S. News & World Report L.P. This is further justified by the 2015-2020 National Survey on Drug Use and Health data reported that there has been a continuous increase of incidence of depression over the past five years and 17.2% of the young adults in the age group 18-25 years were experiencing depression among other age groups.

Similar were the trends in various other countries in the world including Australia, the UK, India, etc. For instance, the National Study of Mental Health and Wellbeing conducted by the Australian government stated that in 2020-2021 21.4% of Australians had suffered a 12-month mental disorder before the survey period. Health and Safety Executive of the UK data reveals that from 2021 to 2022, around 17 million workdays in the country have been lost due to issues including depression, stress, or anxiety due to work issues. India among all the countries in the globe has the highest number of depressed individuals stated by WHO in its 2014 report and the National Mental Health Survey 2015-2016 highlighted that 15% of the adult population in India needed intervention to overcome the issue.  The increasing incidence and prevalence of depression disorders are boosting the demand for Fluoxetine also called Prozac, which predominantly used hydrofluoric acid as its key ingredient in chemical synthesis.  

Further, Hydrofluoric acid is used in the manufacturing of pesticides, insecticides, and herbicides that are rich in fluorine and also plays an important role as a catalyst in the alkylation process in the manufacturing of petroleum. The use of the acid boosts the yield of crude oil, the efficiency of the process, and the quality of the petrol. The increasing demand for nutrient-rich pesticides and escalating demand for petroleum oil and products are positively impacting the growth of the market. Thus, the increasing demand for fluorine compounds for industrial purposes is driving the growth of the market during the forecast period.

Segment Analysis

The global Hydrofluoric Acid market has been segmented based on Grade, Application and region.

The global Hydrofluoric Acid Market segmentation, based on Grade has been segmented as Anhydrous, Diluted (<50% Conc.) and Diluted (>50% Conc.). Among these, the Anhydrous is projected to dominate the global Hydrofluoric Acid market revenue through the projected period as estimated by MRFR analysts.

Anhydrous hydrofluoric acid is usually a colorless, toxic gas with a pungent odor under normal environmental circumstances. At room temperature, it primarily takes the form of H2F2 dimer; below 19.9 °C, it takes the form of a colorless, mobile, volatile liquid. Any ratio of water and it will mix, producing hydrofluoric acid. It produces an azeotropic combination containing 35.4% HF when combined with water. Fluorspar is a naturally occurring raw substance used to make anhydrous hydrogen fluoride. Moreover, anhydrous hydrofluoric acid is usually used in various application such as in the production of cryolite, uranium fluoride derivatives, freons, fluor organic compounds, and smooth etching of silicate glass, biochemistry makes use of biological components' peculiar solubility in liquid hydrogen fluoride without decomposition (for instance, proteins) as well as in the super-acidic environments can be produced by adding fluorine acceptors to liquid hydrogen fluoride. Besides this, the presence of key players operating across the globe providing a wide range of anhydrous hydrofluoric acid which is widely used in various application such as electronics, metallurgical, petrochemical, glass industry and many more is likely to boost its market growth. For instance, Derivados Del Fluor, is a leading provider of anhydrous hydrofluoric acid. Moreover, the company has produced and distributed this product all over the globe for more than 75 years. In addition, the company provides AHF in ISO containers, which are made to the strictest safety standards and handled internally, as well as other packaging options catered to the requirements of customers. Furthermore, the company’s anhydrous hydrofluoric acid is widely used in the electronics industry for chip production as well as cleaning agents for electronic circuits, metallurgical industry for metal cleaning, pre-treatment and treatment, glass industry for glass frosting and engraving, medical industry for the manufacturing of antibiotics as well as in the coating for surgical prostheses and medicines and many more.

Based on the application, the global hydrofluoric acid market has been bifurcated into fluorocarbons production, fluoro-polymers production, fluorinated derivative production, battery electrolyte salts, steel/metal picking, glass etching & cleaning, petroleum alkylation, refrigerant gases, uranium fuel production and others. The fluorocarbons production segment accounted for the largest market share and is likely to register the highest CAGR during the projected period. The production of fluorocarbons is the primary use of hydrogen fluoride. There have      been two significant developments since the parties to the Montreal Protocol decided to phase out chlorofluorocarbons (CFCs) in September 1987. In the beginning, HCFCs took the position of CFCs. However, HCFCs were a stopgap measure to the issue because they still had some capacity to thin the ozone barrier. Hydrofluorocarbons (HFCs), which are chlorine-free and have no chance of depleting the ozone layer but do have some chance of contributing to global warming, were developed very rapidly by manufacturers in response. (GWP). The most recent iteration of hydrogenated fluorinated olefins (HFO) is currently being developed and exhibits GWP that is already meaningless. There are three major areas of application. The first one is foam blowing, in which numerous polymers, such as polyurethane and polystyrene, have excellent insulation qualities. They are created through a procedure called "foam blowing." Fluorocarbons enable "foam blowing," which produces extremely high efficiency and low-density insulation foams. CFCs and HCFCs have been partially supplanted by HFCs without ozone depletion potential. Additionally, being developed for this market are HFOs. The other one includes air conditioning, in which a range of fluorocarbons are used. Lastly, it is used in refrigeration, HFC 134a is the primary product used in refrigeration uses and has proven to be a great substitute for CFC 12. It is utilized wherever cooling, freezing, or other heat transfer processes are needed, despite some limitations. HFOs are being considered for use in related areas.

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Regional Analysis

By Region, the study segments the Hydrofluoric Acid market into North America, Europe, Asia-Pacific, Middle East & Africa and Latin America. The Asia Pacific Hydrofluoric Acid market holds the largest market share and is also anticipated to account for the largest revenue share during the forecast period. Asia-Pacific is anticipated to create an absolute dollar opportunity worth USD 994.18 million from the year 2022 to 2030. Asia-Pacific is the most populated region in the world, consisting of some of the major economies, including China, India, Japan, South Korea, Australia & New Zealand, and others. The flourishing petroleum industry across the APAC region coupled with the wide usage of hydrofluoric acid in it is likely to boost its market growth. For example, hydrofluoric acid is frequently employed as a catalyst in the alkylation process. Alkylation improves petroleum quality and increases crude oil output. Catalyst use provides advantages in terms of process effectiveness and economy. Furthermore, according to Invest India, to meet the expanding local fuel demand as well as the export market, India expects to nearly double its oil refining capacity to 450 MT over the next ten years. India’s total refining capacity, which consists of 23 refineries, is 251 MMTPA as of October 2022. For the years 2021–2022, refinery capacity utilization will be around 96%.  Indian Oil Corporation (IOC) is the largest refiner in the nation with a capacity of 70.1 MMTPA. Petroleum product exports increased by 107.47% from USD 21.4 billion in the FY 2020–21 to USD 44.4 billion in the FY 2021–22. Additionally, from April to December 2021, shipments of petroleum products rose by 52.15% to USD 70.28 billion, or USD 46.19 billion. To achieve 283.62 MMTPA, the total refining capacity is expected to grow at a CAGR of 2.5% over the following five years. The volume of crude oil processed increased by 9% from 221.77 MMT in 2020–21 to 241.7 MMT in 2021–22. In comparison to FY 2020-21, the production of petroleum products increased by 8.9% in FY 2021–22. 254.3 MMT worth of petroleum products were produced in FY 2021–2022. The total amount of crude oil produced in FY 21-22 was 29.7 MMT. The amount of natural gas produced in FY 21–22 was 34.024 BCM.

Furthermore, in August 2021, by 2025, India's state refiners plan to invest 2 trillion rupees ($26.96 billion) to increase the third-largest economy in Asia's oil refining capacity by 20%. With a capacity of around 249 million tons, or more than 5 million barrels, each year, India is the third-largest importer and consumer of oil in the world(bpd). By 2025, refinery capacity is anticipated to increase to 298 million tons annually.

Key Findings of the Study

• The global Hydrofluoric Acid market is expected to reach USD 5.05 billion by 2030, at a CAGR of 5.35% during the forecast period.


• The Asia Pacific region accounted for the fastest-growing global market.


• Based on Grade, the Anhydrous segment was attributed to holding the largest market in 2022.


• Based on application, the Fluorocarbons Production segment was attributed to holding the largest market in 2022.


• Honeywell International Inc. (US), Daikin Industries, Ltd (Japan), LANXESS (Germany), Solvay (Belgium), Stella Chemifa Corporation (Japan), Tanfac Industries Ltd (France), The Chemours Company (US), SRF Limited (India), Navin Fluorine International Limited (India), Merck KGaA (Germany), Morita Chemical Industries Co., Ltd. (Germany), Yingpeng Group (China), Fubao Group (China), Buss Chemtech AG (Switzerland) and Gulf Fluor (UAE)