NEW
YORK, July 19, 2024 /PRNewswire/ -- The global
hydrogen fluoride market size is estimated to grow by USD 778.2 million from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of
4.36% during the forecast period. Increasing demand for
refrigerants is driving market growth, with a trend
towards growing demand for electric vehicles (EVs).
However, tight supply of fluorspar poses a challenge.
Key market players include Buss ChemTech AG, Daikin Industries
Ltd., Dragerwerk AG and Co. KGaA, Fluorchemie Dohna GmbH, Fluorsid
Group Srl, Foshan Nanhai Shuangfu Chemical Co. Ltd., Fubao Group,
Fujian Yongjing Technology Co. Ltd, Gulf Fluor, HaloPolymer OJSC,
Honeywell International Inc., Lanxess AG, Minersa Group, Morita
Chemical Industries Co. Ltd., Navin Fluorine International Ltd.,
Orbia Advance Corp. S.A.B. De C.V., Solvay SA, Tanfac Industries
Ltd., Yingpeng Chemical Co. Ltd., and Zhejiang Sanmei Chemical Ind.
Co. Ltd..
![Technavio has announced its latest market research report titled Global hydrogen fluoride market 2024-2028 Technavio has announced its latest market research report titled Global hydrogen fluoride market 2024-2028](https://mma.prnewswire.com/media/2464463/Technavio_Global_hydrogen_fluoride_market_2024_2028.jpg)
Get a detailed analysis on regions, market
segments, customer landscape, and companies- View the
snapshot of this report
Hydrogen Fluoride
Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2017 - 2021
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
4.36%
|
Market growth
2024-2028
|
USD 778.2
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
4.11
|
Regional
analysis
|
APAC, North America,
Europe, South America, and Middle East and Africa
|
Performing market
contribution
|
North America at
38%
|
Key
countries
|
US, China, Japan,
Canada, and India
|
Key companies
profiled
|
Buss ChemTech AG,
Daikin Industries Ltd., Dragerwerk AG and Co. KGaA, Fluorchemie
Dohna GmbH, Fluorsid Group Srl, Foshan Nanhai Shuangfu Chemical Co.
Ltd., Fubao Group, Fujian Yongjing Technology Co. Ltd, Gulf Fluor,
HaloPolymer OJSC, Honeywell International Inc., Lanxess AG, Minersa
Group, Morita Chemical Industries Co. Ltd., Navin Fluorine
International Ltd., Orbia Advance Corp. S.A.B. De C.V., Solvay SA,
Tanfac Industries Ltd., Yingpeng Chemical Co. Ltd., and Zhejiang
Sanmei Chemical Ind. Co. Ltd.
|
Market Driver
The electric vehicle (EV) industry's growth is a significant
trend, projected to account for over 18% of cars on US roads by
2025. Aluminum is a key component in EVs due to its lightweight
properties and energy efficiency. Used in chassis, bodies, wheels,
and battery compartments, aluminum's thermal transfer capabilities
maintain battery temperature in extreme conditions. This increasing
demand for aluminum will drive the market for aluminum fluoride, a
crucial component in aluminum production, leading to a growing
demand for hydrogen fluoride during the forecast period.
The Hydrogen Fluoride market is experiencing significant growth
due to increasing trends in urbanization and infrastructure
development. With changing lifestyles and income levels, there is a
rising demand for appliances like refrigerators and air
conditioners, driving the demand for Fluorogases segment. Hydrogen
Fluoride is also used in the production of synthetic gases such as
Fluorinated Ethylene Propylene (FEP), Polytetrafluoroethylene
(PTFE), and Polyvinylidene Fluoride (PVDF), which are essential in
various industries like building insulation, furniture, packaging,
and automotive interiors. Moreover, the automotive sector's shift
towards electric vehicles and the use of Hydrogen Fluoride in
battery chemicals is a growing trend. Hydrogen Fluoride's chemical
inertness, low toxicity, and non-flammability make it an ideal
choice for various applications, including fuel lines, O-rings,
gaskets, and seals. The market is also witnessing an increase in
the demand for Fluoropolymers in manufacturing industries, metal
extraction, and as a polymerization catalyst. However, the market
faces challenges due to regulations against the use of Ozone
Depleting Substances (ODS) like Chlorofluorocarbons (CFCs) and
Hydrochlorofluorocarbons (HCFCs). The market is shifting towards
the use of Hydrogen Fluoride as a replacement for these gases in
refrigerants and insulation materials. The production of Hydrogen
Fluoride involves the processing of raw materials like Fluorite,
Fluorspar, and Fluorine, which are in limited supply, posing a
challenge to the market's growth. In conclusion, the Hydrogen
Fluoride market is witnessing significant growth due to various
trends, including urbanization, infrastructure development,
changing lifestyles, income levels, and regulations against ODS.
The market's future growth is expected to be driven by the
increasing demand for Fluorogases, Fluoropolymers, and their
applications in various industries, including refrigeration,
automotive, and manufacturing. However, the market faces challenges
due to the limited availability of raw materials and regulatory
pressures.
Discover 360° analysis of this market. For
complete information, schedule your consultation - Book
Here!
Market Challenges
- The global hydrogen fluoride market faces a significant
challenge due to the limited availability of fluorspar, a crucial
raw material for its production. Fluorspar, derived from the mining
and processing of fluorite ore, is reacted with sulfuric acid in a
rotary kiln to generate hydrogen fluoride. In 2022, China, the leading fluorspar producer,
accounted for approximately 5.7 million tons of the global
production. However, China's
government has imposed stricter regulations on fluorspar mining to
reduce environmental pollution, resulting in a reduced quota for
exploration and higher taxes. This supply crunch is anticipated to
decrease hydrogen fluoride production, potentially increasing its
price during the forecast period. The market growth may be hindered
due to this imbalance in the hydrogen fluoride supply chain.
- The Hydrogen Fluoride market faces several challenges in
various industries. In the mining sector, the availability and cost
of raw materials like Fluorite and Fluorspar impact production
costs. In the metal extraction and manufacturing sectors, the use
of Fluorine and Fluorine chemicals for aluminum and steel
processing requires careful handling due to their reactive nature.
In the automobile industry, the shift towards electric vehicles and
high-performance materials like Teflon presents opportunities for
Fluorochemicals. However, regulations on Hydrofluorocarbons,
Chlorofluorocarbons, and Hydrochlorofluorocarbons under the
Montreal Protocol pose challenges for their use as refrigerants and
in plastic products. Standards of living improvements drive demand
for consumer goods with specialty coatings for corrosion
resistance, durability, and aesthetic appeal. Herbicides and high
octane gasoline production also require Fluorochemicals. Foundries
and metal processing industries use Aluminum Fluoride and other
nonorganic and organic chemicals. Investments and incentives in
research and development for new applications, such as in
electrical components and fluorescent light bulbs, can help
mitigate these challenges and ensure the market's continued
growth.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This hydrogen fluoride market report extensively covers market
segmentation by
- Application
- 1.1 Fluorocarbons
- 1.2 Aluminum fluoride
- 1.3 Others
- Type
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Fluorocarbons- The Hydrogen Fluoride
market is experiencing steady growth due to its widespread usage in
various industries. It is primarily used in the production of
glass, semiconductors, and fluorochemicals. Major consumers include
the chemical industry, electronics sector, and glass manufacturers.
Hydrogen Fluoride is an essential raw material for manufacturing
fluorinated polymers and refrigerants. Its demand is driven by
increasing applications in the production of LCD screens and solar
panels. The market is expected to continue growing due to these
factors.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Learn and explore more about Technavio's in-depth research
reports
Global hydrogen peroxide demand is surging, driven by diverse
applications spanning healthcare, cosmetics, and industrial
sectors. With increasing emphasis on eco-friendly solutions,
hydrogen peroxide's role in wastewater treatment and environmental
remediation is pivotal. Major producers are innovating to enhance
purity and efficiency, meeting stringent regulatory standards. As
markets expand in Asia-Pacific and
North America, technological
advancements in production and distribution are shaping the
industry landscape. This growth underscores hydrogen peroxide's
essential role in sustainable development and its growing
prominence in global markets.
Research Analysis
Hydrogen Fluoride (HF) is a highly reactive and corrosive
compound, primarily used as a raw material in the production of
various fluorine-based chemicals. The primary sources of HF include
fluorite and fluorspar, which are mined and then processed to
extract fluorine. The fluorine is then reacted with hydrogen to
produce HF. Fluorine chemicals find extensive applications in
various industries such as metal extraction, manufacturing, and
automobiles. In the automobile sector, HF is used in the production
of Teflon, a fluorochemical used for specialty coatings that
provide corrosion resistance, durability, and aesthetic appeal. HF
is also used in the production of hydrofluorocarbons (HFCs), which
are used as refrigerants in place of hydrochlorofluorocarbons
(HCFCs) and chlorofluorocarbons (CFCs) due to their lower
environmental impact. Moreover, HF is used in the production of
high octane gasoline and herbicides. The growing demand for
aluminum in various industries, including automobiles and
aerospace, is also driving the demand for HF as it is used in the
production of aluminum fluoride, which is used as a flux in the
smelting process. Governments and industries are investing in HF
production due to incentives and regulations aimed at reducing
greenhouse gas emissions and promoting sustainable manufacturing
processes. The increasing standards of living and the growing
demand for energy-efficient appliances, such as refrigerators, are
also expected to boost the demand for HF and its derivatives in the
coming years.
Market Research Overview
Hydrogen Fluoride (HF) is a highly reactive and corrosive
compound primarily used in the production of Fluorine and Fluorine
chemicals. The primary sources of HF are Fluorite and Fluorspar.
The manufacturing process involves the reaction of these minerals
with sulfuric acid. Fluorine is further utilized in various
industries such as Metal extraction, Aluminum production, and
Fluorochemicals. Fluorochemicals find extensive applications in
various sectors including Automobile and Electric vehicles,
Aluminum and Stainless Steel industries, Foundries, and Niobium and
Tantalum processing. They are used in the production of Aluminum
fluoride, specialty coatings, and non-organic and organic
chemicals. The demand for Hydrogen Fluoride is driven by the
increasing standards of living, urbanization, and infrastructure
development. The changing lifestyles and income levels have led to
an increase in demand for consumer goods, automobiles, and
incentives for investments in the chemical industry. Hydrogen
Fluoride is used in the production of various products such as
Herbicides, High octane gasoline, Refrigerants, Plastic products,
Electrical components, Fluorescent light bulbs, and Fluorocarbons.
It is also used in the production of EPDM rubber, PVC, and other
synthetic gases. The Fluorogases segment, which includes
Hydrochlorofluorocarbons (HCFCs), Chlorofluorocarbons (CFCs), and
Hydrofluorocarbons (HFCs), is a significant application area for
Hydrogen Fluoride. These gases are used in refrigerators, air
conditioners, and building insulation, among others. The Montreal
Protocol, an international treaty aimed at protecting the Ozone
layer, has led to a phase-out of CFCs and HCFCs, and the demand for
Hydrogen Fluoride in the production of HFCs is expected to
increase. The growing demand for corrosion resistance, durability,
and aesthetic appeal in various industries is also driving the
growth of the Hydrogen Fluoride market. The automotive sector,
particularly the production of fuel lines, O-rings, gaskets, and
seals, is a significant consumer of Hydrogen Fluoride. The
increasing demand for electric vehicles and the need for
lightweight and durable materials in automobiles are expected to
boost the demand for Hydrogen Fluoride in the coming years. The
growing demand for specialty coatings, particularly in the aluminum
industry, is another significant application area for Hydrogen
Fluoride. These coatings provide excellent corrosion resistance,
durability, and aesthetic appeal, making them essential in various
industries. The increasing use of Hydrogen Fluoride in the
production of batteries, particularly lithium-ion batteries, is
also expected to drive the growth of the market. Aluminum fluoride
is used as a manufacturing catalyst in the production of these
batteries. In conclusion, the Hydrogen Fluoride market is expected
to grow significantly in the coming years due to the increasing
demand for Fluorine and Fluorine chemicals in various industries.
The growing demand for corrosion resistance, durability, and
aesthetic appeal in various industries, coupled with the increasing
standards of living and urbanization, is expected to drive the
growth of the market. The phase-out of CFCs and HCFCs and the
increasing demand for HFCs are also expected to provide significant
opportunities for the growth of the market.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Fluorocarbons
- Aluminum Fluoride
- Others
- Type
-
- Geography
-
- APAC
- North America
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
View original content to download
multimedia:https://www.prnewswire.com/news-releases/hydrogen-fluoride-market-size-is-set-to-grow-by-usd-778-2-million-from-2024-2028--increasing-demand-for-refrigerants-boost-the-market-technavio-302200783.html
SOURCE Technavio