Anhydrous Hydrogen Fluoride (AHF) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Anhydrous Hydrogen Fluoride Market
The anhydrous hydrogen fluoride market size was valued at USD 2.55 billion in 2023, and the market is now projected to grow from USD 2.88 billion in 2023 to USD 4.31 billion by 2031, exhibiting a CAGR of 5.1% during the forecast period of 2023-2031.
The COVID 19 had a negative effect on the anhydrous hydrogen fluoride market, which declined to 0.7% in 2020 due to disruptions in operations and supply for the fluorochemical producing countries disrupting the supply chains and labor. Easing of automotive manufacturing, also a large end-user of fluoropolymer, made its effect on AHF demand worse. Nevertheless, post-Q2 2021 showed a steady rise because manufacturing activities normalized, and government support is expected to help the slow revival of the hydrogen fluoride industry in the years to come.
Hydrogen fluoride is used in the manufacture of many products for the industrial and commercial world with fluorocarbons consuming the largest part of the substance. According to information provided by Eurofluor, more than 60% of the overall HF produced worldwide is consumed in fluorocarbon production, its importance in this field thus cannot be overemphasized. Due to this high demand, hydrogen fluoride is a key chemical substance in the chemical industry.
Anhydrous hydrogen fluoride is essential for manufacturing of herbicides, gas with high octane, pharmaceuticals, fluorides used in refrigerators, aluminum, plastics, electrical appliances, and fluorescent lamps, etc. The chemical obtained from hydrogen fluoride is used in many consumer products, and this fact will help demand to grow and stimulate the anhydrous hydrogen fluoride market. Again, consumer need is positively related to the demand with the AHF because these are the products consumers cannot do without hence the market will grow as the need for these products grows.
Comprehensive Analysis of Anhydrous Hydrogen Fluoride Market
The anhydrous hydrogen fluoride market growth is rising at an exponential rate due to its market segmentation. This market expansion rightly presents a detailed local analysis based on the forces such as supply and demand which define the industry. These segmentations are methodically segregated by product type analysis, and by application analysis. By product type analysis include <99.90% and >99.90%. By application analysis include chemical, mining, metallurgical, others.
The Asia Pacific region lead the anhydrous hydrogen fluoride market share by benefitting a market size of USD 1.22 billion in 2021 due to increasing demand for refrigerants.
The top players have a significant responsibility in the chemicals & advanced materials industry for confirming industrial prospectus growth and determining the market trends. These players include, Solvay SA, The Linde Group, DERIVADOS DEL FLUOR, HaloPolymer OJSC, Arkema, Honeywell International, NFIL, Foosung Co. Ltd., Foshan Nanhai Double Fluoride Chemical Co. Ltd., Fubao Group these market players provide a level-playing competitive landscape.
In May 2021, Desmet Ballestra Group acquired Buss ChemTech AG to expand its European consumer base and enhance offerings in R&D, process equipment, and plant technologies.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2018-2029
Base Year 2021
Estimated Year 2022
Forecast Period 2022-2029
Historical Period 2018-2020
Unit Value (USD Billion), Volume (Kilo Tons)
Segmentation By Product Type, Application, and Geography
By Product Type
>99.90%
<99.90%
By Application
Chemical
Mining
Metallurgical
Others
By Geography
North America (By Product Type, By Application, By Country)
U.S.
Canada
Europe (By Product Type, By Application, By Country)
Germany
U.K.
France
Italy
Rest of Europe
Asia Pacific (By Product Type, By Application, By Country)
China
India
Japan
ASEAN
Rest of Asia Pacific
Latin America (By Product Type, By Application, By Country)
Brazil
Mexico
Rest of South America
Middle East and Africa (By Product Type, By Application, By Country)
Middle East
Africa
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