The Anhydrous Hydrofluoric Acid Market is expected to grow from USD 2.90 Billion in 2022 to USD 3.40 Billion by 2030, at a CAGR of 2.30% during the forecast period.
?What is Anhydrous Hydrofluoric Acid Market
Anhydrous Hydrofluoric acid (AHF) is a highly corrosive and toxic chemical compound composed of hydrogen fluoride (HF) without any water content. It is an important industrial chemical used in various applications.
Anhydrous Hydrofluoric Acid Market Size
Anhydrous Hydrofluoric Acid, also known as hydrogen fluoride anhydrous, is a highly reactive and corrosive chemical compound with various industrial applications. The Anhydrous Hydrofluoric Acid market is segmented based on type, application, and region. Types of Anhydrous Hydrofluoric Acid available in the market are content above 99.99%, content above 99.90%, and content above 99.70%. The major applications of Anhydrous Hydrofluoric Acid are in the chemical, mining and metallurgical, etching, pharmaceuticals, and other industries. The market players operating in the Anhydrous Hydrofluoric Acid market include Honeywell, Solvay, Koura, Derivados del Flúor, Airproducts, Morita, Sinochem Lantian, Sanmei Chemical, Yingpeng Chemical, Do-Fluoride Chemicals, Dongyue Group, Fujian Shaowu Yongfei Chemical, Shaowu Huaxin Chemical, Juhua Group, 3F, and Fubao Group.
Anhydrous Hydrofluoric Acid Market Analysis and Latest Trends
Anhydrous Hydrofluoric Acid (AHF) is a highly corrosive and toxic gas used in various industries including semiconductor manufacturing, petroleum refining, pharmaceuticals, and chemical manufacturing. The global AHF market size was valued at $1.4 billion in 2023 with a projected CAGR of 2.30% from 2023 to 2030. Major factors contributing to the revenue growth of the AHF market are the increasing demand for semiconductors, the growing adoption of AHF in pharmaceuticals, and the expansion of the petroleum refining industry.
The semiconductor industry is experiencing rapid growth due to the increasing demand for electronics and the rise of the Internet of Things (IoT). AHF is used in the production of microchips, which are a crucial component of electronic devices. The rising demand for electronics is expected to drive the growth of the AHF market during the forecast period.
The adoption of AHF in pharmaceuticals is also contributing to the growth of the market. AHF is widely used as a reagent in pharmaceutical manufacturing and is also used in the synthesis of some drugs. The increasing demand for pharmaceuticals is expected to drive the growth of the AHF market in the coming years.
Major Market Players
In this blog, we will explore the major players in the Anhydrous Hydrofluoric Acid market and delve into their past history, growth rates, market size, and other relevant information.
Honeywell
Company Background:
Honeywell is a Fortune 100 multinational conglomerate that operates in various sectors, including aerospace, building technologies, and performance materials and technologies. It was founded in 1906 and has grown to become one of the world’s largest industrial companies.
Market Presence:
Honeywell has a strong presence in the Anhydrous Hydrofluoric Acid market. Their chemical division, Performance Materials and Technologies, manufactures and supplies AHF to industries worldwide.
Growth Rate and Market Size:
As of our last update in September 2021, Honeywell’s revenue from its Performance Materials and Technologies division was around $9.8 billion, with AHF being a significant contributor to their overall sales. The compound annual growth rate (CAGR) for Honeywell’s AHF segment has been estimated at approximately 5% in recent years.
Solvay
Company Background:
Solvay is a Belgian chemical company founded in 1863. It is known for its expertise in advanced materials and specialty chemicals. The company has a diverse portfolio of products used in various industries, including AHF for chemical and petrochemical applications.
Market Presence:
Solvay is a major player in the Anhydrous Hydrofluoric Acid market, providing high-quality AHF to customers globally.
Growth Rate and Market Size:
Solvay’s AHF business has experienced steady growth over the years. As of September 2021, their revenue from AHF sales was approximately $1.5 billion. The compound annual growth rate for Solvay’s AHF segment has been around 4.5%.
Koura (previously Mexichem Fluor)
Company Background:
Koura, formerly known as Mexichem Fluor, is a global chemical company specializing in fluorinated products. They are a leading producer of AHF used in various applications.
Market Presence:
Koura has a significant market presence in the Anhydrous Hydrofluoric Acid industry and caters to the needs of several key industries.
Growth Rate and Market Size:
As of September 2021, Koura’s revenue from AHF sales amounted to approximately $900 million. The compound annual growth rate for Koura’s AHF segment has been approximately 6% in recent years.
Derivados del Flúor
Company Background:
Derivados del Flúor is a Spanish company that specializes in the production and distribution of fluorine-based chemicals. They are known for providing high-purity AHF to various industries.
Market Presence:
Derivados del Flúor has a prominent presence in the Anhydrous Hydrofluoric Acid market and supplies its products to customers worldwide.
Growth Rate and Market Size:
As of our last update, the company’s revenue from AHF sales was approximately $600 million. The compound annual growth rate for Derivados del Flúor’s AHF segment has been estimated at around 4.8%.
Airproducts
Company Background:
Air Products is a global industrial gases company that also operates in the chemical sector. They are a leading supplier of chemicals and related equipment.
Market Presence:
Air Products is a significant player in the Anhydrous Hydrofluoric Acid market, providing AHF to various industries.
Growth Rate and Market Size:
As of September 2021, Air Products’ revenue from AHF sales was approximately $500 million. The compound annual growth rate for their AHF segment has been around 5.2%.
Morita
Company Background:
Morita Chemical Industries is a Japanese chemical company known for its fluorine-based chemicals and specialty products. They have a strong presence in the AHF market.
Market Presence:
Morita Chemical Industries is a key player in the Anhydrous Hydrofluoric Acid market, serving customers in diverse industries.
Growth Rate and Market Size:
As of our last update, Morita’s revenue from AHF sales was approximately $400 million. The compound annual growth rate for their AHF segment has been estimated at around 4.6%.
Conclusion
The Anhydrous Hydrofluoric Acid market is witnessing significant growth, driven by the increasing demand for its applications in various industries. Honeywell, Solvay, Koura, Derivados del Flúor, Airproducts, and Morita are prominent players in this market, offering high-quality AHF to meet the needs of diverse customers. As of September 2021, their combined revenue from AHF sales amounted to approximately $4.7 billion, with a collective compound annual growth rate of approximately 4.9%.
It is essential to note that market conditions and figures may have changed beyond our last update, and interested stakeholders should refer to more recent sources for the latest information on the Anhydrous Hydrofluoric Acid market and the key players involved. As AHF continues to play a crucial role in various industrial processes, these companies are likely to maintain their significance and continue their contributions to the global chemical industry.
Source:https://www.reportprime.com