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Market Analysis: Global Hydrofluoric Acid Market
Global hydrofluoric acid market is expected to rise to an estimated value of USD 7077.51 million by 2026, registering a substantial CAGR of 5.75% in the forecast period of 2019-2026. Increasing demand of hydrofluorocarbons and increasing usage of hydrofluoric acid in various applications is the major factors for the growth of this market.
Market Definition: Global Hydrofluoric Acid Market
Hydrofluoric acid is an inorganic acid which is a solution of the hydrogen fluoride in water. They are usually highly destructive in nature and are colorless. These solutions are widely used for fluorinated derivative production, metal pickling, uranium fuel production, glass etching etc. These solutions can destroy concrete, glazes and enamels easily. Wax, polyethylene and platinum are some of the material which can resist the hazardous effects of hydrofluoric acid. Rising usage of fluorine compounds from various industries is the major factor fuelling the market growth.
· Rising preference of fluorine compounds from various industries is driving the growth of this market
· Increasing demand for hydrofluorocarbons and hydrofluorolefins is driving the market growth
· Increasing usage of hydrofluoric acid for the manufacturing of fluorinated derivatives is another factor driving the growth of this market
· Increasing demand of aluminium from end- users will also accelerate the market