The use of hydrofluoric acid as an intermediate for the manufacturing of fluorochemicals is the largest application segment accounting for a share of ~65% in the overall demand.
Albany, NY -- (SBWIRE) -- 10/22/2018 -- Extensive applications of hydrofluoric acid such as production of fluorochemicals, aluminum manufacturing, and other uses in verticals such as petrochemical industries, are anticipated to be the primary influencers behind the growth of the hydrofluoric acid market. Revenue earned from the hydrofluoric acid market are estimated to grow at a modest CAGR of nearly 3% through 2028. These insights have been extracted from the report titled "Hydrofluoric Acid Market: China to Lead in Terms of Both Supply & Demand Throughout the Forecast Period" added recently to the massive repository of Market Research Reports Search Engine (MRRSE).
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Anhydrous grade hydrofluoric acid is anticipated to continue its hold over major market share owing to extensive application in processes such pickling of steel and rust removal. The use of hydrofluoric acid for the production of fluorochemicals is expected to be a major factor behind market growth as a primary end use application. China holds approximately half of the world's fluorspar deposits, essential for hydrofluoric acid production. The restriction of export of this material by China is a major constraining aspect for the market.
China is anticipated to continue as leading share holder of the hydrofluoric acid market throughout the forecast period. This can be largely attributed to greater ease of finding raw materials and cost effective production. India is also expected to show rapid market growth owing to increasing end user industries in the region.
Hydrofluoric Acid Market: Report Summary
This in depth report gives readers a complete analysis & forecast at the regional and global levels on hydrofluoric acid, in terms of value (US$ Mn), for the period of forecast 2018 to 2028. A full assessment of essential market dynamics, along with drivers, constraints, opportunities and trends that are important factors which influence the demand for hydrofluoric acids have been examined in the report.
A detailed qualitative analysis on the hydrofluoric acid has been provided in the report, and the use of tools such as competition matrix helps in gaining a better understanding of the competitive situation among key market players. A complete market attractiveness analysis has also been incorporated to benchmark the market participants on the terms of vital aspects such as their market size, general attractiveness, and growth rate.
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Hydrofluoric Acid Market: Research Methodology
Primary and secondary research has been used extensively to extract trustworthy and relevant information on hydrofluoric acids. This research includes extensive face-to-face and telephonic interviews with large number of prominent industry experts and opinion leaders to gain better insight into factors such as market size, market trends, growth rates and competitive scenario. Primary research forms most of the efforts in research, which has been supported strongly with comprehensive secondary research.
Leaders and new market players for hydrofluoric acids have been scrutinized closely, and data sources such as press releases, SEC filings and annual reports along with other relevant documents such as market reports, government publications, and databases have been examined for analysis on the market's landscape. The research approach and methodologies employed here have been tested to be highly accurate and effective to gain useful insights on the market data, market player's activity and untapped business opportunities.
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