Global Hydrogen Fluoride Market to Hit $4.9B, Driven by Chemical and Electronics Industries
NEW YORK, Feb. 01, 2023 (GLOBE NEWSWIRE) -- Following are some interesting points from an IndexBox's report on the global hydrogen fluoride market.
The global hydrogen fluoride market is expected to grow from $4.4B in 2022 to $4.9B in 2030, increasing at a CAGR of 1.4% during that period. The key drivers of this market are the growing demand for fluorine-based chemicals and the expanding electronics industry, the IndeBox report says.
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Hydrogen fluoride, also known as hydrofluoric acid, is a colorless liquid. It is the principal source of fluorine, which is applied for production of refrigerants, pharmaceuticals, semiconductors, flat panel displays, solar cells, etc. Fluorine-based chemicals have a wide range of use in automotive, aerospace, electronics industries and healthcare.
The Asia-Pacific region is the largest market for hydrogen fluoride owing to rapid industrialization and urbanization in China and India. North America is the second one due to the presence of major players. These regions are followed by European countries.
The major challenge faced by the hydrogen fluoride market is the availability of substitutes, fluorinated compounds, which are cheaper and easily available, which makes them a viable option for many industries. This poses a challenge for the hydrogen fluoride market as it needs to compete with these chemicals on price and performance. However, fluorinated compounds are under scrutiny due to their impact on the environment. This has led to stringent regulations regarding their use, which could boost the demand for hydrogen fluoride as a safer alternative.
Another challenge is the high toxicity of hydrogen fluoride. It is also a highly corrosive gas, which makes it difficult to handle and store. This poses a risk to both workers and consumers, which may limit its use in some applications.
Hydrogen Fluoride Impact on the Environment
Hydrogen fluoride is emitted into the atmosphere from a number of industrial processes. It is also a by-product of aluminum and other fluorine-containing chemical manufacturing. Hydrogen fluoride can be transported long distances in the atmosphere before it eventually falls to the ground, where it can affect both terrestrial and aquatic ecosystems.
At high concentrations, hydrogen fluoride can be harmful to plants, animals, and humans. People exposed to high levels of HF may experience a variety of health effects, including respiratory tract irritation, coughing, and bronchitis. In severe cases, it can lead to death. In addition, hydrogen fluoride can contribute to the formation of acid rain.
While the impact of hydrogen fluoride on the environment is typically localized near sources of emissions, large releases can result in widespread environmental damage. For example, in 1976, a chemical plant accident in Italy released approximately 30 tons of hydrogen fluoride into the air. This event resulted in widespread environmental damage, including the deaths of nearly 4.5K people and injuries to over 7.5K others.
While hydrogen fluoride emissions are generally low in urban areas, they can be much higher in rural areas near sources of emission. This is because HF is more likely to accumulate in these areas due to its slow rate of dispersion in the atmosphere.
Hydrogen Fluoride Production
The hydrogen fluoride manufacturing process involves the production of hydrofluoric acid, which is a key ingredient in many industrial and consumer products. The manufacturing process is complex and requires a number of steps to be completed successfully.
The first step in the hydrogen fluoride manufacturing process is the preparation of fluorspar ore. This ore is then mixed with sulfuric acid and heated to create hydrofluoric acid (liquid). The hydrofluoric acid is then cooled and purified to remove impurities. Finally, hydrofluoric acid is concentrated into hydrogen fluoride (gas).
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Companies Mentioned in the Report
Solvay (Belgium), Daikin (Japan), Evonik (Germany), Honeywell (US), Kureha (Japan), Showa Denko (Japan), INEOS Fluorides (UK), Adeka (Japan), Fluorchemie (Germany), and Merck KGaA (Germany). Solvay, Daikin Industries (Japan), 3M (US), BASF SE (Germany), DowDuPont (US)
World – Hydrogen Fluoride (Hydrofluoric Acid) - Market Analysis, Forecast, Size, Trends and Insights
EU - Hydrogen Fluoride (Hydrofluoric Acid)- Market Analysis, Forecast, Size, Trends and Insights
Asia - Hydrogen Fluoride (Hydrofluoric Acid)- Market Analysis, Forecast, Size, Trends and Insights
U.S. - Hydrogen Fluoride (Hydrofluoric Acid) - Market Analysis, Forecast, Size, Trends and Insights
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