Hydrofluoric acid is an important industrial chemical due to its unique properties. For instance, it has a high affinity for water, which makes it an excellent solvent for many organic compounds. It is also a powerful acid, which makes it useful for etching and cleaning various materials, including metals, glass, and ceramics. Additionally, Hydrofluoric acid can be used as a catalyst in many chemical reactions, including polymerization and alkylation.

The global Hydrofluoric acid capacity stood at 2960 KT in 2023, with Asia Pacific dominating the market share. Asia Pacific, North America, and Europe together account for almost 99% of the global Hydrofluoric Acid capacity. Asia Pacific on the back of China accounts for over 75% of the global Hydrofluoric acid and it is further estimated to continue its dominance during the forecast period.

The Hydrofluoric Acid Market can be segmented by its major applications including fluorinated compounds, alkylation catalysts, metal pickling, aluminum manufacturing, electrical & electronics, and others. The Hydrofluoric Acid Market is expected to witness high growth in all its major segments on the back of increasing opportunities from the Asia Pacific region. Increasing developments in the end-use industry of the hydrofluoric acid market is bolstering the demand for hydrofluoric acid.

Furthermore, China controls a significant portion of the raw materials supply for the Hydrofluoric  Acid, specifically fluorspar. The country s fluorspar mines account for nearly 60% of global production in 2021, and it ranks third in the world in terms of fluorspar reserves. The majority of the fluorspar produced in China is used in the production of HF and aluminum fluoride (AlF3). Observing the dynamics within the fluorspar market holds significance as it directly influences the determination of hydrofluoric acid prices in the upcoming years. The fluorspar market, being a key source of fluorspar, impacts the overall supply chain and availability of raw materials for the production of hydrofluoric acid. Factors such as fluctuations in fluorspar production, changes in global demand, geopolitical influences, and advancements in extraction technologies can all contribute to shifts in the market dynamics. Therefore, a keen understanding of the fluorospar market trends is crucial for making informed decisions regarding the pricing of hydrofluoric acid in the foreseeable future.

The use of Hydrofluoric acid can also pose significant health and safety risks. Inhalation of the gas can cause severe respiratory damage, including pulmonary edema and bronchial spasms. Contact with the skin or eyes can cause severe burns, and ingestion can lead to severe internal damage. As such, the handling and storage of Hydrofluoric acid must be carefully managed to minimize the risk of exposure. 

Solvay SA, Daikin, Orbia Advance Corp, SRF Limited, Honeywell International Inc., Lanxess AG, ICIB S.r.l., United Company RUSAL, Derivados Del Fluor and Fluorchemie Stulln GmbH are some of the key player in the hydrofluoric acid market

Arkema has revealed its plans to construct a USD 150 million anhydrous Hydrofluoric acid (AHF) production plant at Nutrien Ltd.'s site in Aurora, North Carolina. The facility, capable of producing 40 KT, will recover fluoride from phosphate used in Nutrien's production processes and convert it into AHF.

Navin Fluorine International has announced a capital expenditure of Rs 450 crore (USD 60.8 million) to establish a hydrofluoric acid plant in Dahej, India, at the beginning of 2023.

Tanfac Industries has approved a proposal to expand the capacity of its existing Hydrofluoric Acid Plant in Cuddalore, India, from 14.8 KT per annum to 29.7 KT per annum. This brownfield expansion in its existing unit will entail a capital expenditure of Rs 100 crore (USD 13.5 million).

ENF Technology is set to commence large-scale production of hydrofluoric acid raw materials at their facility located in Cheonan, South Korea, during the latter half of this year. This development carries significant importance as, ENF will be able to domestically manufacture hydrofluoric acid and its corresponding raw materials, thereby reducing its reliance on regulated Japanese exports. ENF has earmarked KRW 51.2 billion (USD 39.1 million) towards the establishment of a hydrofluoric acid production plant at their Cheonan plant.

In H2 of 2019, Soulbrain, a South Korean company specializing in chemical materials, commenced production of hydrofluoric acid solutions at a newly constructed factory located in Gongju, South Chungcheong Province.