Anhydrous Hydrogen Fluoride Market Size, Share & Trends Analysis Report By Application (Fluoropolymers, Fluorogases, Pesticides), By Region, And Segment Forecasts, 2022 - 2030

Anhydrous Hydrogen Fluoride Market Size, Share & Trends Analysis Report By Application (Fluoropolymers, Fluorogases, Pesticides), By Region, And Segment Forecasts, 2022 - 2030

Anhydrous Hydrogen Fluoride Market Growth & Trends

The global anhydrous hydrogen fluoride market is expected to reach USD 4706.43 million by 2030, registering a CAGR of 5.7% during the forecast period, as per the new report by Grand View Research, Inc. The growth is driven majorly by the burgeoning demand for fluorochemicals and fluorogases. Fluorine based chemicals further find application in consumer goods, agrochemicals, steel production, refrigeration applications, polymers, and pharmaceuticals.

Anhydrous hydrogen fluoride is an important raw material in the chemicals industry. It is used in the production of fluorine-containing compounds. Anhydrous hydrogen fluoride is used as an intermediate chemical for manufacturing fluorochemicals. The increasing demand for fluoropolymers and other fluorochemicals from end-use industries is driving market growth.

Fluorogases and fluorochemicals are used in the majority of consumer goods hence the demand from industrial applications is anticipated to be the main contributor, driven by positive steady growth in disposable incomes. Given that these gases are employed in a variety of industrial applications, such as air conditioning systems, commercial refrigeration, and industrial refrigeration, growth in the fluorogases is predicted to continue to be strong.

The demand for anhydrous hydrogen fluoride has increased due to the fact that it is a key component in the manufacture of many fluorine-containing chemicals. For the production of fluorochemicals, fluoropolymers, surfactants, etc., anhydrous hydrogen fluoride is used. These chemicals produced are widely used in automobiles, household utensils, etc.

An increase in fluorochemical production as a result of the sufficient availability of raw materials like fluorite is helping to support the market growth for anhydrous hydrogen fluoride. Anhydrous hydrogen fluoride producers are therefore moving and expanding their production plants globally.

The global demand for anhydrous hydrogen fluoride is rising as a result of the increasing demand for electric goods like air conditioners and refrigerators. The major players in the market engage in extensive research and development efforts to provide highly effective products in order to maintain their position in the industry.

Anhydrous Hydrogen Fluoride Market Report Highlights

• Fluorogases application witnessed the highest growth rate of 6.0%, owing to its ability owing to numerous applications in end-use industries like consumer goods, and electronics
• Fluorogases are used in a variety of industrial applications, including blowing agents for foams, aerosol propellants, solvents, industrial & commercial refrigeration, air conditioning systems, and heat pump equipment
• In 2020, Arkema announced its plan to produce anhydrous hydrogen fluoride in partnership with American agricultural company, Nutrien Ltd. Arkema, under its long-term agreement with Nutrient Ltd., plans to source the element that is naturally available in phosphate from the company, thereby replacing the commonly used fluorspar as a raw material in the production of anhydrous hydrogen fluoride
• Asia Pacific region is expected to witness the highest growth rate of 6.4% during the forecast period, owing to the increasing requirement for anhydrous hydrogen fluoride from the consumer goods industry including the electronic industry and automobile industry in the region
• In Asia Pacific the regulations for the production and usage of fluorine-based chemicals are fragile which promotes the production and usage of anhydrous hydrogen fluoride by end-use industries leading to the rapid growth of the product market