Top Companies in Fluoroboric acid Market are Solvay, Derivados del Flúor, JAY INTERMEDIATES AND CHEMICALS, S.B. CHEMICALS, Harshil Fluoride, BASF SE, Qucheng Chemical Co., Ltd., Strem Chemicals, Inc., Jiangxi Dongyan Pharmaceutical Co., Ltd., Nantong Jinxing Fluorides Chemical Co., Ltd., MORITA CHEMICAL INDUSTRIES CO., LTD., Other key market players, ,
The global fluoroboric acid market is likely to gain traction from the increasing developments in the heavy industrial equipment sector, especially in the Middle East and Africa. Fortune Business Insights™ provided this information in an upcoming report, titled, “Fluoroboric acid Market Size, Share and Industry Analysis, By Application (Chemicals and intermediates, Metal and surface Treatment, Electroplating, Others) Others and Regional Forecast, 2022-2029.” The report further states that fluoroboric acid is used in the diluted form by utilizing water and other solvents, such as diethyl ether. Asia Pacific is considered to be the largest manufacturing hub of this inorganic compound because of the availability of cost-effective raw materials in abundance.
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Updated Market News and Forecast Analysis
The Fluoroboric acid Market is a successful enterprise that employs a large number of people and has a significant impact on the global economy. Many readers of this newsletter may be interested to know the trends that will influence the Fluoroboric acid Market in the near future. This article provides a summary of some of these trends, including a few perspectives related to their relevance.
This Report Answers the Following Questions:
- How will the market be affected in the coming years?
- Which companies are expected to gain the highest revenue?
- Which segment is set to lead the market in terms of share?
- Which region would remain at the forefront?
- What are the current, historical, and forecasted sizes of the market?
- How are the companies trying to increase sales of fluoroboric acid?
Drivers and Restraints-
Rising Usage in Making Fluoroborates and Diazo Salts to Boost Growth
Fluoroboric acid is extensively used in metal surface treatment and electroplating applications. It is currently experiencing high demand on account of being a very effective etching agent. In addition to that, it is utilized majorly in the production of diazo and fluoroborates salts. Making of both these salts require high amount of fluoroboric acid.
However, fluoroboric acid is extremely corrosive and poisonous in nature. These properties restrict its usage in a large number of applications. Moreover, this acid is dangerous for human beings and hence, the masses are gradually inclining towards its alternatives. Its labelling code is approved by the European Union and it is put under CLP00 harmonized classification as it causes severe burns on skin and eye damage.
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Regional Analysis-
Asia Pacific to Lead Stoked by Higher Production and Consumption of Fluoroboric Acid
Regionally, Asia Pacific is set to dominate throughout the forecast period by procuring the largest fluoroboric acid market share. This growth is attributable to higher consumption and production of this acid in the region. Multiple developing countries, such as India, South Korea, Japan, and China are considered to be the major manufacturing hubs.
In Europe and North America, the demand for the acid is anticipated to rise because of the presence of well-established electroplating and metal processing industries in both regions. One of the most prominent end users of electroplating is the automotive industry. But, owing to the current scenario, the decline in the automotive industry is set to slow down the market growth in both regions.
The Middle East and Africa and Latin America house very small markets fueled by the presence of limited number of suppliers. Latin America’s economic and political disturbances are expected to lower the supply and demand of fluoroboric acid. However, the ongoing developments in the heavy industrial equipment sector in the Middle East and Africa would bolster growth in this region.
Competitive Landscape-
Key Players Focus on Adopting Various Strategies to Intensify Competition
Several reputed companies are operating in the market and hence, it is highly competitive. Some of the companies are focusing on launching new products, while the others are engaging in strategic collaborations and investments to gain a competitive edge.
Fortune Business Insights™ presents a list of all the companies operating in the fluoroboric acid market. They are as follows:
- Solvay
- Derivados del Flúor
- JAY INTERMEDIATES AND CHEMICALS, S.B. CHEMICALS
- Harshil Fluoride
- BASF SE
- Qucheng Chemical Co., Ltd.
- Strem Chemicals, Inc.
- Jiangxi Dongyan Pharmaceutical Co., Ltd.
- Nantong Jinxing Fluorides Chemical Co., Ltd.
- MORITA CHEMICAL INDUSTRIES CO., LTD.
- Other key market players
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Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Fluoroboric acid Market To Witness Increased Revenue Growth Owing To Rapid Increase In Demand | Fluoroboric acid Industry: Innovation and Product Optimization to Boost Growth During 2021 – 2029
