Hydrofluoric Acid Market Analysis

ID: MRFR/CnM/8684-CR

111 Pages

Chitranshi Jaiswal

August 2023

Hydrofluoric Acid Market Research Report: By Grade (Anhydrous, Diluted (50% Conc.), Diluted (>50% Conc.)), By Application (Fluorocarbons Production, Fluoro-polymers Production, Fluorinated Derivative Production, Battery Electrolyte Salts, Steel/Metal Pickling, Glass Etching & Cleaning, Petroleum Alkylation, Refrigerant Gases, Uranium Fuel Production, Others) and By Regional (North Americ...

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Market Analysis

In-depth Analysis of Hydrofluoric Acid Market Industry Landscape

The adoption of hydrofluoric acid is on the rise, particularly in applications related to glass etching and cleaning. Glass plays a pivotal role in various devices, including solar cells, microelectromechanical systems (MEMS) devices, and optical devices. To enhance the functionality of these products, it is imperative for the glass to have a textured surface. For instance, achieving higher efficiency in solar cells requires effective light absorption and management, which is accomplished through surface texturing.

The escalating demand for thin film silicon in solar cell manufacturing, coupled with ongoing scientific studies conducted by academic and research institutes, has fueled the widespread use of hydrofluoric acid. A notable example is a study conducted by Sungkyunkwan University, Korea, and Korea Electronics Technology Institute in 2017. This research focused on the chemical etching of glasses using a hydrofluoric acid-based solution, highlighting the advantages of wet etching over dry plasma etching. Wet etching, facilitated by hydrofluoric acid, offers a cost-effective and simplified process, along with the ability to produce well-controlled surface structures. Moreover, the property of hydrofluoric acid-based etching enables the dissolution of glasses without altering their color, making it increasingly prevalent in the commercial production of bathroom mirrors that utilize acid etching for printing designs.

Beyond glass etching, hydrofluoric acid finds extensive use in various cleaning solutions, spanning applications such as car washes, rust removers, toilet cleaners, detergents, and brick and stone cleaning. The acid's ability to dissolve metal items, concrete, silica, and various metallic oxides renders it advantageous in the formulation of cleaning solutions. However, it's important to note that hydrofluoric acids are associated with potential hazards, causing heat burns and environmental issues.

As environmental safety and health concerns gain prominence, there is an increasing need for innovative and eco-friendly hydrofluoric acid-based etching and cleaning solutions. The market is ripe for opportunities that encourage the development of products addressing these concerns. Companies in the industry have the potential to capitalize on these emerging prospects, aligning their offerings with the growing demand for safer and more sustainable hydrofluoric acid applications. This shift towards environmentally friendly solutions not only meets the evolving regulatory landscape but also ensures the long-term viability and acceptance of hydrofluoric acid in glass-related processes and cleaning applications.

Market Highlights

Author

Chitranshi Jaiswal

Research Analyst Level I

In her 3 years of experience in the market research field, she has handled critical cross-domain projects. She has an in-depth knowledge of market estimation & analysis, problem-solving, primary as well as secondary research, and team management.She holds an engineering degree and is an MBA professional from a well-known university, capable of evaluating the market and competitive conditions. An exceptional strategist with excellent communication skills and a passion for delivering cutting-edge & practical insights for the market. Proficient in multi-tasking, and can successfully deal with competing demands, while maintaining complete confidentiality. Generated business through active client and project development, networking, and high-quality responses. Her knowledge and skills have helped in making solid business decisions, securing funding from investors, and avoiding business failures.

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FAQs

What is the expected market size of the Hydrofluoric Acid Market in 2024?

The Hydrofluoric Acid Market is expected to be valued at 3.68 USD Billion in 2024.

What will be the value of the Hydrofluoric Acid Market by 2035?

By 2035, the market is projected to reach a value of 6.55 USD Billion.

What is the expected compound annual growth rate (CAGR) from 2025 to 2035 for the Hydrofluoric Acid Market?

The expected CAGR for the Hydrofluoric Acid Market from 2025 to 2035 is 5.39%.

Which region is expected to dominate the Hydrofluoric Acid Market by 2035?

By 2035, the Asia Pacific region is projected to hold a significant share of the market, reaching 2.072 USD Billion.

What are the anticipated market values for Anhydrous Hydrofluoric Acid in 2024 and 2035?

Anhydrous Hydrofluoric Acid is expected to be valued at 1.03 USD Billion in 2024, growing to 1.81 USD Billion by 2035.

What is the market value of Diluted (50% Concentration) Hydrofluoric Acid in 2024?

The market value of Diluted Hydrofluoric Acid with less than 50% concentration is projected to be 1.23 USD Billion in 2024.

Who are the key players in the Hydrofluoric Acid Market?

Some of the major players in the market include Daikin Industries, Honeywell International, and Mitsubishi Chemical, among others.

What is the expected market value for the Middle East and Africa region in 2024?

In 2024, the market value for the Middle East and Africa region is anticipated to be 0.613 USD Billion.

How much is the South American market for Hydrofluoric Acid expected to be valued at in 2035?

The South American market for Hydrofluoric Acid is expected to reach 0.537 USD Billion by 2035.

What growth opportunities exist in the Hydrofluoric Acid Market?

The market presents opportunities driven by increasing demand in sectors such as electronics and chemical manufacturing.

1. Market Overview

2. Market Trends

3. Market Segment Insights

4. Key Players and Competitive Insights

5. Industry Developments

6. Market Segmentation

7. Report Scope

8. Market Highlights

9. FAQs

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Market Summary

As per Market Research Future Analysis, the Hydrofluoric Acid Market was valued at 3.49 USD Billion in 2023 and is projected to grow to 6.55 USD Billion by 2035, reflecting a CAGR of 5.39% from 2025 to 2035. The market is driven by increasing demand from the electronics and chemical manufacturing sectors, with hydrofluoric acid being essential for semiconductor production and various chemical applications. The Asia Pacific region is expected to dominate the market, supported by rapid industrialization and technological advancements.

Key Market Trends & Highlights

The Hydrofluoric Acid Market is experiencing significant growth driven by various trends.

Electronics industry demand is projected to boost hydrofluoric acid consumption, with semiconductor revenue expected to exceed 500 billion USD in 2021.
The chemical manufacturing sector is growing at approximately 4.5% annually, increasing the need for hydrofluoric acid as a feedstock.
Investment in renewable energy reached 500 billion USD in 2020, enhancing the demand for hydrofluoric acid in clean energy applications.
Emerging applications in agriculture are expected to contribute to a 6% annual increase in agrochemical use.

Hydrofluoric Acid Market

CAGR

5.39%

Market Size & Forecast

2023 Market Size	USD 3.49 Billion
2024 Market Size	USD 3.68 Billion
2035 Market Size	USD 6.55 Billion
CAGR (2025-2035)	5.39%
Largest Regional Market Share in 2024	Asia Pacific.

Major Players

Key companies include Daikin Industries, Kea Chemicals, Yongtai Technology, Fujifilm, Sinochem International, Fluor Corporation, Central Glass, Mitsubishi Chemical, HF Chemical, Honeywell International, Linde, Cabot Corporation, Arkema, and Solvay.

Market Trends

The Hydrofluoric Acid Market is witnessing several important trends driven primarily by increasing demand in various industries such as chemicals, metals, and electronics. The growth in industrial activities, particularly in developing economies, is boosting the consumption of hydrofluoric acid for applications like aluminum production and etching in semiconductor manufacturing.

The rising trend of electronics production, particularly in Asia Pacific, is a key market driver as hydrofluoric acid is a crucial component in the manufacturing of display panels, which further amplifies demand. Alongside this, there is a growing emphasis on safety and environmental regulations within the market.Companies are increasingly focused on adopting safer handling practices and investing in technology to minimize emissions and improve overall sustainability. This shift presents opportunities to be explored, such as developing innovative products or processes that reduce environmental impact while maintaining efficiency in production.

Moreover, recent trends indicate a steady increase in research and development activities aimed at finding alternative applications for hydrofluoric acid in areas like organic synthesis and pharmaceuticals. These developments not only enhance the versatility of hydrofluoric acid but also offer new avenues for revenue generation in a competitive market.As governments tighten regulations regarding hazardous materials, investment in safer alternatives and advanced containment strategies will likely become critical for sustaining growth in the Hydrofluoric Acid Market.

The global hydrofluoric acid market is poised for growth, driven by increasing demand in sectors such as electronics and petrochemicals, while regulatory scrutiny surrounding its handling and environmental impact continues to shape industry practices.

U.S. Environmental Protection Agency (EPA)

Hydrofluoric Acid Market Market Drivers

Market Growth Projections

The Global Hydrofluoric Acid Market Industry is poised for substantial growth, with projections indicating a market value of 3.68 USD Billion in 2024 and an anticipated increase to 6.55 USD Billion by 2035. This growth reflects a compound annual growth rate (CAGR) of 5.38% from 2025 to 2035. The expanding applications of hydrofluoric acid across various industries, including electronics, oil and gas, and chemical manufacturing, contribute to this upward trajectory. As global demand for hydrofluoric acid continues to rise, the market is likely to witness increased investments and innovations, further solidifying its position in the chemical industry.

Growth in Oil and Gas Sector

The oil and gas sector plays a pivotal role in driving the Global Hydrofluoric Acid Market Industry. Hydrofluoric acid is utilized in the alkylation process, which is crucial for producing high-octane gasoline. As global energy demands rise, particularly in developing nations, the need for efficient refining processes becomes paramount. This sector's growth is expected to bolster the hydrofluoric acid market, as refiners seek to enhance product quality and yield. The increasing investments in oil and gas exploration and production further indicate a sustained demand for hydrofluoric acid, contributing to the market's overall expansion.

Fluorinated Chemicals Production

The production of fluorinated chemicals significantly influences the Global Hydrofluoric Acid Market Industry. Hydrofluoric acid serves as a precursor in the synthesis of various fluorinated compounds, which are utilized in refrigeration, pharmaceuticals, and agrochemicals. The increasing need for these chemicals, driven by environmental regulations and the push for sustainable alternatives, enhances the market's growth potential. As industries seek to innovate and comply with stringent regulations, the demand for hydrofluoric acid is likely to increase. This trend suggests a promising outlook for the market, with projections indicating a rise to 6.55 USD Billion by 2035.

Rising Demand from Electronics Sector

The Global Hydrofluoric Acid Market Industry experiences substantial growth driven by the increasing demand from the electronics sector. Hydrofluoric acid is essential in the production of semiconductors and electronic components, which are integral to modern technology. As the global electronics market expands, particularly in regions like Asia-Pacific, the demand for hydrofluoric acid is expected to rise. This sector's growth contributes to the overall market valuation, projected to reach 3.68 USD Billion in 2024. The continuous innovation in electronics further fuels this demand, indicating a robust trajectory for the Global Hydrofluoric Acid Market Industry.

Advancements in Chemical Manufacturing

Advancements in chemical manufacturing technologies are significantly impacting the Global Hydrofluoric Acid Market Industry. Innovations in production processes enhance the efficiency and safety of hydrofluoric acid manufacturing, making it more accessible to various industries. As manufacturers adopt cutting-edge technologies, the cost-effectiveness of hydrofluoric acid production improves, potentially leading to increased market penetration. Moreover, the rising focus on sustainable practices within the chemical industry may drive the demand for hydrofluoric acid as a critical component in producing eco-friendly products. This trend suggests a favorable environment for market growth in the coming years.

Regulatory Compliance and Safety Standards

Regulatory compliance and safety standards are crucial drivers for the Global Hydrofluoric Acid Market Industry. As industries face stringent regulations regarding chemical handling and environmental impact, the demand for high-purity hydrofluoric acid increases. Companies are compelled to invest in safer and more efficient processes to meet these regulations, thereby boosting the market. The emphasis on safety and environmental sustainability may lead to innovations in hydrofluoric acid applications, further enhancing its market potential. This regulatory landscape indicates a growing need for hydrofluoric acid, aligning with the projected market growth.

Market Segment Insights

Hydrofluoric Acid Market Grade Insights

The Hydrofluoric Acid Market demonstrates a diverse segmentation within the Grade category, crucial for various industrial applications. In 2024, the overall market is projected to reach a value of 3.68 billion USD, showcasing significant demand, particularly for specific grades. The Anhydrous hydrofluoric acid segment, valued at 1.03 billion USD in 2024, serves a critical role in manufacturing processes, including the production of fluorinated chemicals and petrochemicals. This segment is expected to grow substantially, reaching 1.81 billion USD by 2035, indicating its importance in industrial applications requiring high-purity acid without the presence of water.

The Diluted (50% Concentration) segment is noteworthy as well, valued at 1.23 billion USD in 2024. Its considerable application in industries such as metal processing and glass etching contributes to its upward trajectory, projected to reach 2.1 billion USD by 2035. This grade is often preferred for its versatility and effectiveness in various chemical reactions while maintaining safety and handling ease. On the other hand, the Diluted (>50% Concentration) segment holds a value of 1.42 billion USD in 2024, which highlights its significant utilization in sectors requiring stronger concentrations of hydrofluoric acid for applications like electronics and specialty glass production.

This segment is estimated to expand to 2.64 billion USD by 2035, thereby reflecting its dominance alongside the other grades.

The segmentation of the Hydrofluoric Acid Market emphasizes the necessity for a tailored approach to production and distribution, with each grade serving distinct functions driven by industry demands. The growth in these categories can be attributed to increased utilization in diverse applications such as oil refining, metal processing, and the semiconductor industry. However, the market also faces challenges, including safety concerns regarding the handling and transportation of hydrofluoric acid, which necessitates stringent safety protocols and technological advancements to mitigate risks in operational environments.

As such, the landscape of the Hydrofluoric Acid Market, backed by robust growth statistics, reveals an array of opportunities for advancements and innovations aimed at optimizing production efficiency while ensuring safety in applications across various industries.

Hydrofluoric Acid Market Application Insights

The Hydrofluoric Acid Market is poised for growth, particularly within its Application segment, which plays a vital role in several industrial processes. By 2024, the market is projected to reach a value of 3.68 USD Billion, significantly contributing to the broader chemical industry. Among the various applications, Fluorocarbons Production and Fluoro-polymers Production are essential, as they are used in the manufacturing of refrigerants and non-stick coatings, respectively. The increasing demand for environmentally-friendly refrigerants positions these applications prominently in the market.Additionally, Glass Etching and Cleaning applications are crucial for the semiconductor and electronics manufacturing sectors, highlighting their importance in technological advancements.

Furthermore, Uranium Fuel Production relies on hydrofluoric acid in the nuclear energy sector, underlining its significance in meeting energy needs. The market is also driven by renewable energy trends, leading to increased demand for Battery Electrolyte Salts in the electric vehicle segment. Overall, the various applications demonstrate a strong potential for market growth as they cater to critical industrial demands, supported by sustainability initiatives and expanding technological developments in various sectors.

Get more detailed insights about Hydrofluoric Acid Market Research Report—Global Forecast till 2035

Regional Insights

In the Hydrofluoric Acid Market, regional dynamics play a crucial role, with varied valuations across different areas. By 2024, the market is segmented, with North America valued at 0.865 USD Billion, contributing significantly to the overall landscape and expected to rise to 1.535 USD Billion by 2035. Europe follows, with a valuation of 0.708 USD Billion in 2024, poised to grow to 1.228 USD Billion, highlighting its importance in industries such as metal processing and electronics.

The Asia Pacific region stands out as a dominant force, valued at 1.179 USD Billion in 2024 and projected to reach 2.072 USD Billion, driven by rapid industrialization and demand in the semiconductor industry.South America, with a valuation of 0.315 USD Billion in 2024, and the Middle East and Africa at 0.613 USD Billion, emphasize emerging markets, albeit with smaller market shares. The growth in these areas can be attributed to expanding applications in fluorine chemistry and pharmaceuticals, enhancing the Hydrofluoric Acid Market revenue.

However, challenges such as environmental regulations are likely to influence market dynamics across these regions, presenting both growth opportunities and necessary adaptations for stakeholders.

Hydrofluoric Acid Market Regional Insights

Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

Key Players and Competitive Insights

The Hydrofluoric Acid Market is characterized by a diverse range of players who contribute to the competitive dynamics of this essential chemical sector. As a highly specialized product, hydrofluoric acid is utilized across various industries, including manufacturing, pharmaceuticals, and electronics, thereby increasing the importance of understanding the competitive landscape. The market comprises large chemical manufacturers, regional players, and niche companies that supply hydrofluoric acid for distinct applications.

As the demand for hydrofluoric acid continues to rise, particularly in emerging economies, companies are increasingly focusing on enhancing their production capabilities, expanding geographic reach, and innovating their product offerings to maintain a competitive edge. Comprehensive strategies such as partnerships, mergers, and acquisitions are vital for business growth, optimizing resource utilization, and accessing new customer segments in the arena.Daikin Industries is positioned as a significant player in the Hydrofluoric Acid Market, known for its robust production capabilities and advanced technology.

With a strong emphasis on research and development, Daikin Industries consistently innovates its hydrofluoric acid solutions, ensuring they meet the evolving needs of various industries. The company’s focus on quality and efficiency allows it to maintain a competitive advantage, while its expansive presence ensures a reliable supply chain that meets customer demands. Daikin Industries has established strong relationships with clients across multiple sectors, which is a testament to its reputation for excellence in product offerings and customer service.

This competitive strength positions Daikin Industries favorably for growth and expansion even in challenging market conditions.Kea Chemicals operates as a notable entity within the Hydrofluoric Acid Market, offering a range of hydrofluoric acid products that cater to various industrial applications. The company's market presence is characterized by its commitment to sustainability and technological innovation, enabling it to produce high-quality hydrofluoric acid efficiently. Kea Chemicals has established a strong foothold in the market through strategic mergers and acquisitions that have enhanced its operational capabilities and broadened its product portfolio.

Key strengths of Kea Chemicals lie in its customer-centric approach, responsive supply chain, and ability to meet stringent regulatory requirements. This commitment to quality, combined with its strategic initiatives, positions Kea Chemicals as a formidable competitor in the hydrofluoric acid landscape, allowing it to respond effectively to changing market demands and capitalize on growth opportunities.

Key Companies in the Hydrofluoric Acid Market market include

Industry Developments

Q2 2024: Honeywell to Build New Hydrofluoric Acid Production Facility in Texas Honeywell announced plans to construct a new hydrofluoric acid manufacturing plant in Texas, aiming to increase domestic supply for the semiconductor and chemical industries. The facility is expected to be operational by late 2025.
Q3 2024: India’s SRF Limited Announces Expansion of Hydrofluoric Acid Plant SRF Limited revealed a major capacity expansion at its Dahej hydrofluoric acid facility, citing growing demand from the fluorochemicals and electronics sectors. The project is scheduled for completion in 2025.
Q4 2024: Solvay and Zhejiang Sanmei Chemical Form Joint Venture for Hydrofluoric Acid Production Solvay and Zhejiang Sanmei Chemical signed a joint venture agreement to build a new hydrofluoric acid plant in China, targeting the electronics and refrigerant markets. The partnership aims to leverage both companies’ technological strengths.
Q1 2025: Arkema Inaugurates New Hydrofluoric Acid Unit in France Arkema officially opened a new hydrofluoric acid production unit at its Pierre-Bénite site, increasing its European capacity to serve the pharmaceutical and electronics industries.
Q2 2025: Honeywell Signs Long-Term Supply Agreement with Intel for Hydrofluoric Acid Honeywell entered into a multi-year supply contract with Intel to provide high-purity hydrofluoric acid for semiconductor manufacturing at Intel’s U.S. fabs.
Q2 2025: Do-Fluoride Chemicals Announces $100 Million Investment in Hydrofluoric Acid Expansion China’s Do-Fluoride Chemicals committed $100 million to expand its hydrofluoric acid production capacity, aiming to meet rising demand from the battery and electronics sectors.
Q2 2025: Koura Appoints New CEO to Lead Hydrofluoric Acid Business Expansion Koura, a global fluorochemicals producer, named a new CEO to oversee its hydrofluoric acid business, with a focus on expanding capacity and entering new markets.
Q3 2025: Solvay Receives Regulatory Approval for Hydrofluoric Acid Plant in South Korea Solvay secured final regulatory clearance to construct a hydrofluoric acid manufacturing facility in South Korea, supporting the country’s growing semiconductor industry.
Q3 2025: Gujarat Fluorochemicals Signs Partnership with Samsung for Hydrofluoric Acid Supply Gujarat Fluorochemicals entered a strategic partnership with Samsung to supply high-purity hydrofluoric acid for use in advanced electronics manufacturing.
Q3 2025: Honeywell Completes Acquisition of Specialty Hydrofluoric Acid Producer in Japan Honeywell finalized the acquisition of a Japanese specialty hydrofluoric acid manufacturer, strengthening its position in the Asia-Pacific electronics chemicals market.

Future Outlook

Hydrofluoric Acid Market Future Outlook

The Hydrofluoric Acid Market is projected to grow at a 5.38% CAGR from 2024 to 2035, driven by increasing demand in electronics and chemical industries.

New opportunities lie in:

Develop eco-friendly hydrofluoric acid production methods to meet regulatory standards.
Expand applications in lithium-ion battery manufacturing to capture emerging markets.
Invest in advanced distribution networks to enhance supply chain efficiency and reduce costs.

By 2035, the Hydrofluoric Acid Market is expected to exhibit robust growth, reflecting evolving industrial needs and technological advancements.

Market Segmentation

Hydrofluoric Acid Market Grade Outlook

Anhydrous
Diluted (50% Conc.)
Diluted (>50% Conc.)

Hydrofluoric Acid Market Regional Outlook

North America
Europe
South America
Asia Pacific
Middle East and Africa

Hydrofluoric Acid Market Application Outlook

Fluorocarbons Production
Fluoro-polymers Production
Fluorinated Derivative Production
Battery Electrolyte Salts
Steel/Metal Pickling
Glass Etching & Cleaning
Petroleum Alkylation
Refrigerant Gases
Uranium Fuel Production
Others

Report Scope

Report Attribute/Metric	Details
Market Size 2023	3.49(USD Billion)
Market Size 2024	3.68(USD Billion)
Market Size 2035	6.55(USD Billion)
Compound Annual Growth Rate (CAGR)	5.39% (2025 - 2035)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Base Year	2024
Market Forecast Period	2025 - 2035
Historical Data	2019 - 2024
Market Forecast Units	USD Billion
Key Companies Profiled	Daikin Industries, Kea Chemicals, Yongtai Technology, Fujifilm, Sinochem International, Fluor Corporation, Central Glass, Mitsubishi Chemical, HF Chemical, Honeywell International, Linde, Cabot Corporation, Arkema, Solvay
Segments Covered	Grade, Application, Regional
Key Market Opportunities	Rising demand in electronics, Growing use in industrial applications, Expansion in chemical manufacturing, Increasing use in oil refining, Advancements in extraction technologies
Key Market Dynamics	growing demand in electronics, industrial applications expansion, stringent environmental regulations, price volatility, safety and handling concerns
Countries Covered	North America, Europe, APAC, South America, MEA

Market Highlights

Author

Chitranshi Jaiswal

Research Analyst Level I

She holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.

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