Hydrofluoric Acid Market Analysis

Global Hydrofluoric Acid Market Overview

Hydrofluoric Acid Market Size was valued at USD 3.33 billion in 2022. The Hydrofluoric Acid industry is projected to grow from USD 3.49 billion in 2023 to USD 5.05 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.35% during the forecast period (2023 - 2030).

Hydrofluoric acid is an inorganic acid that is colorless in nature and has an unpleasant smell. Hydrofluoric acids are highly corrosive in nature and are used to produce several fluorine-containing materials such as the very frequently used antidepressant medicine fluoxetine and Teflon. Hydrofluoric acid, also known as Hydrogen fluoride, is one of the members of very highly corrosive acid groups.

Hydrofluoric acid is also applied to manufacture various fluorine-based chemicals, herbicides, gasoline, refrigerants, pharmaceutical products, fluorescent light bulbs, plastics, and electrical components. Apart from that, the major application of hydrofluoric acid includes fluorocarbons production, fluorinated derivative production, battery electrolyte salts, pickling of steel or metals, glass etching & cleaning, petroleum alkylation, refrigerant gases, fluoro-polymers production, uranium fuel production, and others.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Hydrofluoric Acid Market Trends

Glass is a widely used product in various devices including solar cells, microelectromechanical systems (MEMS) devices, and optical devices. For all these applications, the glass needs to have a textured surface for better function of the product. For instance, to achieve higher efficiency in solar cells, effective light absorption and light management are necessary which is achieved using surface texturing. Increasing demand for thin film silicon in solar cell manufacturing in line with expanding scientific studies by various academic and research institutes has been boosting the adoption of hydrofluoric acid, one such research by Sungkyunkwan University, Korea and Korea Electronics Technology Institute, Korea on the chemical etching of glasses in hydrofluoric acid-based solution in 2017 has highlighted the benefits of wet etching using hydrofluoric acid over the dry plasma etching. The benefits and advantages of wet etching are the low-cost and simplified process apart from its ability to produce well-controlled surface structures. In addition, the property of hydrofluoric acid-based etching helps in dissolving the glasses without any change in their color and is increasingly used in the commercial production of bathroom mirrors that uses acid etching for printing designs.

Another widespread use of hydrofluoric acid in various cleaning solutions including car washes, rust removers, toilet cleaners, detergents, brick and stone cleaning, etc. The ability of hydrofluoric acid to dissolve metal items, concrete, silica, and various metallic oxides comes off as an advantage in the formulation of cleaning formulations. However, hydrofluoric acids are known to cause heat burns and environmental issues, the increasing concern regarding environmental safety and health is expected to create lucrative opportunities for the players in the market to develop innovative and environment-friendly hydrofluoric acid-based etching and cleaning solutions.

Hydrofluoric Acid Market Segment Insights

Hydrofluoric Acid by Form Insights

The Hydrofluoric Acid Market segmentation, based on grade has been segmented as Anhydrous, Diluted (<50% Conc.), Diluted (>50% Conc.). Among these, the Anhydrous as a garde is projected to hold dominant share in the Hydrofluoric Acid Market revenue through the projected period. 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.

Hydrofluoric Acid by Application Insights

The Hydrofluoric Acid Market segmentation, based on Application, the market is segmented as Fluorocarbons Production, Fluoro-Polymers Production, Fluorinated Derivative Production, Battery Electrolyte Salts, Steel/Metal Pickling, Glass Etching & Cleaning, Petroleum Alkylation, Refrigerant Gases, Uranium Fuel Production and Others. The Fluorocarbons Production application segment is likely to hold the dominant market share among others as 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.

Hydrofluoric Acid Regional Insights

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.

In August 2021, Indian oil minister stated that 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.

Hydrofluoric Acid Key Market Players & Competitive Insights

The Hydrofluoric Acid Market is characterized by the presence of many global, regional, and local vendors. The market is highly competitive, with all the players competing to gain maximum market share. Intense competition, frequent changes in government policies, and regulations are key factors that impact market growth. The vendors compete based on cost, product quality, reliability, and aftermarket services. The vendors must provide cost-efficient and high-quality Hydrofluoric Acid to sustain their presence in an intensely competitive market environment.

The hydrofluoric acid market is projected to register a CAGR of 5.35% during the review period. The key factors driving the growth in the market are the growing demand for fluorine compounds for industrial purposes and the increased demand for hydrofluorocarbons and hydrofluoroolefins. However, the regulations on use of hydrofluorocarbons are hampering the growth of the market during the forecast period. Nevertheless, the growing application of hydrofluoric acid in glass etching and cleaning applications along with the growth of the real estate sector in the Middle East & Africa region is expected to create lucrative opportunities for the players in the global market till the review period. The Hydrofluoric Acid Market is highly competitive, with key industry players adopting various strategies such as expansions, acquisitions, and product launches to strengthen their market positions. Most companies in the market focus on expanding operations across regions, augmenting their capabilities, and building strong partnerships. The growth of market players is dependent on market conditions, government support, and industry development.

The key players operating in the hydrofluoric acid market include 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) dominates the market due to brand reputation, product differentiation, financial stability, and strong distribution network. The players are focused on lowering their environmental footprint and investing in research and development along with strategic growth initiatives such as acquisitions and product launches to strengthen their market position and capture a large consumer base. 

HONEYWELL INTERNATIONAL INC: Honeywell International Inc. (Honeywell) invents and manufactures technologies that help in various tough situations and challenges in various sectors that include energy, security, safety, and productivity. The company offers various solutions to improve the efficiency, productivity, sustainability, and safety of various businesses that are growing in the market. The company offers various products such as authentication technologies, electronic materials, fine chemicals, fluoropolymers, high-strength fibers, and performance additives.

The company operates in four business segments that is aerospace, performance materials, Honeywell building technologies, and technologies, and safety and productivity solutions. The aerospace business segment offers various products, software, and services for aircraft that are sold to OEM and various other clients that are the end user of general aviation aircraft, airlines, aircraft operators, defense and space contractors, air transport, regional, and business. Honeywell building technologies business segment offers various products, solutions, software, and technologies that assist the building owners and occupants that ensuring their facilities are safe, energy-efficient, sustainable, and productive. The performance materials and technologies business segment operate in developing materials and chemicals, technologies, and automation solutions. And the last segment safety and productivity solutions is a provider of products and software that improves the productivity, workplace safety, and asset performance of clients globally.

The company also has certain criteria when it comes to competition like performance, technology, product innovations, product recognition, quality, durability, customer services, delivery, and price is certain factors. The industries under which the company offers its products and services are automotive & electric vehicles, semiconductor fabrication & packaging, portable device capacitors, electronic & industrial manufacturing, and many more.

LANXESS: LANXESS is a specialty chemicals company that is engaged in the development, manufacturing, and marketing of various products. The company has four business segments Advanced Industrial Intermediates, Specialty Additives, and Consumer Protection, along with 10 business units, and works with a broad range of applications and markets. The application of those company is working are in agrochemicals, flavors and fragrances, pharmaceuticals, automotive, construction, and various others. The company has a presence in North America, Germany, Asia-Pacific, Latin America, and EMEA. Advanced Intermediates' business segment manufactures industrial intermediates such as amines, polyols, inorganics, benzene and toluene derivatives, and organometallics. The specialty Additives business segment has consisted of rhein Chemie, polymer additives, and lubricant additives business units, all these three units develop, produce, and market the additives and offer services for processors of polymers and specialty chemical products. And the last consumer protection business segment protects the environment and people in many areas of life, the business unit that this segment covers are flavors & fragrances, material protection products, liquid purification technologies, and salting.

The company has more than 7,500 product brands registered globally and over 200 company corporate brands. A few of the brands that the company owns are Additin, Anderol, K-Flex, Lobase, Hatcol, Hybase, Oxone, Reolube, Virkon, and many more. Furthermore, Hydrofluoric acids are used in various industries such as agriculture, ceramic, chemical and petrochemical, dyestuff, pigments, optical brighteners, glass, metal, petrochemical, pharmaceutical, and water resource management.

Key Companies in the Hydrofluoric Acid Market includes.

• 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)


• Gulf Fluor (UAE)

Hydrofluoric Acid Industry Developments

November 2022: Solvay and Orbia announced today that they have entered into a joint venture framework agreement to create a partnership for the production of suspension grade polyvinylidene fluoride (PVDF), creating the largest capacity in North America. The total investment is estimated at approximately $850 million and will be funded in part by a $178 million grant from the US Department of Energy to Solvay to build a facility in Augusta, Georgia.

September  2021: Honeywell announced that Ultium Cells LLC, a joint venture between LG Energy Solution and General Motors (GM), will utilize Honeywell's Quality Control System (QCS) to ensure the quality and integrity of lithium-ion batteries manufactured at its new Lordstown manufacturing facility. Ensure Batteries, Ohio. The 2.8 million square meter factory is scheduled for completion in 2022. It will produce lithium-ion battery cells for GM electric vehicles ranging from Cadillac sedans to Hummers and will be one of the largest electric vehicle battery plants in the United States.

March 2021: Daikin has developed a new technology. Over 90% of hydrofluoric acid components are imported from Japan from China. New Daikin technology reduces dependence on China for chip-making materials by using Mexican fluorite crystals, which are less pure than Chinese fluorite, to produce hydrofluoric acid.

Hydrofluoric Acid Market Segmentation

Hydrofluoric Acid Grade Outlook

• Anhydrous


• Diluted (<50% Conc.)


• Diluted (>50% Conc.)

Hydrofluoric Acid 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

Hydrofluoric Acid Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Russia
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • South Korea
  
  
  • Australia & New Zealand
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Middle East & Africa
  
  
  
  • GCC
  
  
  • South Africa
  
  
  • Rest of Middle East & Africa
  
  
  
  


• Latin America
  
  
  
  • Brazil
  
  
  • Mexico
  
  
  • Argentina
  
  
  • Rest of Latin America