Hydrogen Fluoride Market size to grow by USD 900.48 million from 2022 to 2027; Rising number of insulation foam applications boosts the market

NEW YORK, Aug. 14, 2023 /PRNewswire/ -- The hydrogen fluoride market size is set to grow by USD 900.48 million between 2022 and 2027 and register a progressing CAGR of 5.19%, according to Technavio's latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by the way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read Sample Report

The report also covers the following areas:

Hydrogen Fluoride Market size

Hydrogen Fluoride Market trends

Hydrogen Fluoride Market industry analysis

Hydrogen Fluoride Market 2023-2027: Segmentation

The hydrogen fluoride market is segmented as follows:

Application

Type

Geography

The market share growth by the fluorocarbons segment will be significant during the forecast period. Fluorocarbons mainly comprise carbon and fluorine. These are chemically inert and are widely used for various applications due to their non-flammable characteristics. Some of the main applications include manufacturing refrigerants and foam-blowing agents. The growth of this segment is fuelled by the increasing use of refrigerants in hotels, malls, commercial offices, and air conditioners and refrigerators in the residential segment. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.

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Hydrogen Fluoride Market 2023-2027: Company Analysis and Scope

The hydrogen fluoride market is fragmented, and the degree of fragmentation will accelerate. To help businesses improve their market position, the hydrogen fluoride market provides a detailed analysis of around 15+ vendors operating in the market. Some of these vendors 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. SAB de CV, Solvay SA, Tanfac Industries Ltd., Yingpeng Chemical Co. Ltd., and Zhejiang Sanmei Chemical Ind. Co. Ltd.

Company Offerings

Daikin Industries Ltd: The company offers hydrogen fluoride, such as aqueous hydrofluoric acid, and buffered hydrogen fluoride, under the brand Daikin Chemicals.

Fluorchemie Dohna GmbH: The company offers hydrogen fluoride products under the brand Fluorchemie Stulln GmbH.

Fluorsid Group Srl: The company offers hydrogen fluoride, such as aqueous hydrofluoric acid.

Hydrogen Fluoride Market 2023-2027: Market Dynamics

Key Drivers

The increasing number of insulation foam applications drives the market growth during the forecast period. the increasing use of insulation in construction, automotive, and consumer durables industries is significantly contributing to the growth of the hydrogen fluoride market. Additionally, hydrogen fluoride is extensively used as a foam-blowing agent for producing high-quality, low-density, and high-performance insulation materials such as polyurethane and polystyrene foams. Hence, such applications of hydrogen fluoride are positively impacting the market. Therefore, it is expected to drive market growth during the forecast period.

Major Trends

The development of green buildings is a primary trend in the global hydrogen fluoride market during the forecast period. The increase in green building is an emerging trend in the market which focuses on utilizing eco-friendly and resource-efficient materials and processes throughout a building's life cycle, such as design, construction, operation, maintenance, renovation, and deconstruction. There is a growing popularity for aluminum as an energy-efficient and sustainable construction material in green buildings. Some of the main advantages of aluminum include a favorable strength-to-weight ratio, sunlight reflectivity, and recyclability, fuelling its adoption in green buildings. Hence, such factors are driving the market growth during the forecast period.

Significant Challenges

The hazardous nature of hydrogen fluoride is a major challenge hindering the market growth during the forecast period. There are strict regulations enforced by several authorities regarding the transportation and distribution of hydrogen fluoride as it is highly hazardous. The US Department of Transportation (US DOT) has made it mandatory for all manufacturers who are transporting chemicals using railcars to upgrade all toxic inhalation hazard (TIH) railcars by 2027. Hence, such regulations are increasing manufacturing costs and reducing profit margins which can negatively impact the market which in turn hinders the market growth during the forecast period.

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Hydrogen Fluoride Market 2023-2027: Key Highlights

CAGR of the market during the forecast period 2023-2027

Detailed information on factors that will assist hydrogen fluoride market growth during the next five years

Estimation of the hydrogen fluoride market size and its contribution to the parent market

Predictions on upcoming trends and changes in consumer behavior

The growth of the hydrogen fluoride market

Analysis of the market's competitive landscape and detailed information on vendors

Comprehensive details of factors that will challenge the growth of hydrogen fluoride market vendors

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Hydrogen Fluoride Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.19%

Market growth 2023-2027

USD 900.48 million

Market structure

Fragmented

YoY growth 2022-2023(%)

4.49

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 39%

Key countries

US, Canada, China, Japan, and India

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

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. SAB de CV, Solvay SA, Tanfac Industries Ltd., Yingpeng Chemical Co. Ltd., and Zhejiang Sanmei Chemical Ind. Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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