DUBLIN, Jun 11, 2021--(BUSINESS WIRE)--The "Fluorosilicic Acid Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The Fluorosilicic Acid Market is expected to grow at a CAGR of more than 6% during the forecast period.
COVID-19 has negatively impacted the fluorosilicic acid market 2020. Due to COVID-19, the investments in water treatment are slowed down. Low reliability, quality of water, and sanitation, hygiene are the major risks for the wastewater treatment industry. There was a reduction in demand for industrial water, which registered a fall of 27%, according to the Global Water Leaders Group survey. Due to the relaxation of the lockdown and restrictions by the governments are slowly lifted around the world, the fluorosilicic acid market is expected to witness positive growth in the coming years.
Over the mid-term, the major factor driving the market studied is a growing demand from the water treatment industry. On the flip side, the fuming and corrosive nature of fluorosilicic acid is hindering the growth of the market. Asia-Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the increasing consumption from countries such as China, India, and Japan.
Thermo Fisher Scientific Inc.
Honeywell International Inc.
KC Industries, LLC
Napco Chemical Company
Univar Solutions Inc.
VWR International, LLC
Xinxiang Yellow River Fine Chemical Industry Co., Ltd
Key Market Trends
Growing Demand for Fluorinating Agent in Water Treatment Industry
Fluorosilicic acid is produced as a co-product in the manufacture of phosphate fertilizers and also from phosphate rock, which contains fluoride and silica, is treated with sulphuric acid. It is a dry salt additive dissolved into a solution before being added to water.
Rising ground and surface water pollution boost the requirement of water treatment which in turn boosts the demand for fluorosilicic acid.
According to the United Nations Educational, Scientific, and Cultural Organization (UNESCO), global water consumption increased by around 6 times in the last 100 years, and the world is likely to face a 40% water deficit by 2030.
The Council on Energy, Environment & Water (CEEW), in association with the 2030 Water Resources Group, has been planning to improve wastewater management in India, along with increasing private investments to build wastewater treatment plants.
According to UNESCO, an investment of around USD 6.7 trillion is required during 2020-2030 in order to prevent water scarcity, and a significant amount of this expenditure is needed to be invested in water and wastewater treatment.
Hence, owing to the above-mentioned factors, the application of fluorosilicic acid from water treatment industry is likely to dominate during the forecast period.
Asia-Pacific Region to Dominate the Market
Asia-Pacific region is expected to dominate the market for fluorosilicic acid during the forecast period. The rising demand for fluorosilicic acid from the water treatment plants and growing application in the construction sector in developing countries like China, Japan, and India is expected to drive the demand for fluorosilicic acid in this region.
The largest producers of fluorosilicic acid are located in the Asia-Pacific region. Most of the manufacturing plants are located in China, Japan, and India.
The major population of China relies on groundwater sources for drinking water, which are either untreated or not properly treated by municipal water suppliers which in turn increases the need for water treatment.
According to China Statistical Yearbook 2020, China's gross production value of agriculture increased by 7% and stood at CNY 6.6 trillion in 2019 compared to CNY 6.15 trillion in 2018.
India is one of the largest exporters (in top 15) of agricultural products across the world. In FY 2020, the agricultural export in the country has reached USD 35.09 billion from USD 38.54 billion in FY 2019.
Fluorosilicic acid is used in cement manufacturing, in hardening cement, the Indian government initiatives to develop 98 smart cities along with the initiatives such as PMAY to build around 20 million urban homes and 30 million rural houses by 2022, fuelling to the growth of the infrastructure and construction development.
Owing to the above-mentioned factors, the market for fluorosilicic acid in the Asia-Pacific region is projected to grow significantly during the study period.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Growing Demand from Water Treatment Industry
4.1.2 Other Drivers
4.2.1 Fuming and Corrosive Nature of Fluorosilicic Acid
4.2.2 Impact of COVID - 19
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Demand for Fluorosilicic Acid Made Etched Glass
7.2 Other Opportunities
For more information about this report visit https://www.researchandmarkets.com/r/v04ib
View source version on businesswire.com: https://www.businesswire.com/news/home/20210611005384/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900