Hydrofluoric Acid Market To Reach USD 5.09 Billion By 2032 Demand Fueled By Growth In Fluoropolymer Production, Semiconductor Industry, And Oil Refining Applications

(MENAFN- GlobeNewsWire - Nasdaq) The global hydrofluoric acid (HF) market is witnessing consistent growth driven by the rising demand for fluorinated compounds across multiple end-use industries.

Austin, June 11, 2025 (GLOBE NEWSWIRE) -- The global hydrofluoric acid market was valued at USD 3.16 billion in 2024 and is projected to reach USD 5.09 billion by 2032, expanding at a compound annual growth rate (CAGR) of 6.15% from 2025 to 2032.

The growing need for hydrofluoric acid in the chemical processing and electronics sectors, as well as its use in petroleum refining during alkylation processes. In addition, increasing investments to boost semiconductor Fab globally, primarily in the Asia-Pacific region, are accelerating the market growth of HF for etching and cleaning silicon wafers and glass substrates.

Hydrofluoric acid is a key feedstock for the manufacture of fluorinated gases and fluorinated polymers such as polytetrafluoroethylene (PTFE), which are used by the automotive, aerospace, electrical, and chemical processing industries due to their high heat, corrosion and chemical resistance.

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The U.S led the market in North America with USD 466.53 million in 2024 and accounted for a market share of 57%. It is owing to a strong industrial base, including industries such as chemical manufacturing, oil refining & electronics. It houses the largest fluorochemical synthesis factories, which primarily use hydrofluoric acid as a feedstock. Moreover, as stated above, application industries such as automotive and consumer electronics play an important role in the sustainability of hydrofluoric acid demand for aluminum, etching, refrigerant, and other applications.

Key Players:

• Honeywell International Inc.
• Daikin Industries, Ltd.
• Solvay S.A.
• Dongyue Group
• Sinochem Group Co., Ltd.
• Stella Chemifa Corporation
• Lanxess AG
• Orbia (Mexichem Fluor S.A. de C.V.)
• Morita Chemical Industries Co., Ltd.
• Yingpeng Chemical Co., Ltd.

Hydrofluoric Acid Market Report Scope:

Report Attributes	Details
Market Size in 202 4	USD 3.16 billion
Market Size by 2032	USD 5.09 billion
CAGR	CAGR of 6.15% From 2025 to 2032
Base Year	2024
Forecast Period	2025-2032
Historical Data	2021-2023
Report Scope & Coverage	Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Drivers	. Rapid Expansion of Semiconductor Fabrication Under the CHIPS Act Boosts Demand for High-purity Hydrofluoric Acid. . Accelerated Refinery Alkylation Capacity Expansion Sustains Industrial-grade Hydrofluoric Acid Consumption.

Key Segments

By Grade

The anhydrous accounted for the largest market share at 58.3% by value in 2024. Its significant dominance comes from the great use of it in large industrial applications, as it is widely present in materials such as fluorocarbons and aluminum. Highly pure and reactive anhydrous hydrofluoric acid is an important hydrocarbon processing catalyst used in alkylation units at oil refineries to improve fuel quality. It is also compressed in the market value for their help in the highly efficient production of fluorinated compounds, which are used for refrigerants, polymer production, etc.

By Application

The hydrofluoric acid market was led by the fluorocarbon segment in 2024 and accounted for 33.2% share of global revenue. Hydrofluoric acid is commercially produced for use in the manufacture of fluorocarbons that are primarily used as refrigerants, air conditioning systems, and foam blowing agents, which ultimately support a strong market position. Given the growing worldwide requirements for cooling systems and refrigeration, especially in new economies and climatically delicate areas, the require for hydrofluoric acid as a critical feedstock in fluorocarbon synthesis has increased.

Regional Analysis

Asia Pacific held the largest market share, around 39.7%, in 2023. It owing to the rapidly rising industrial and manufacturing base of the region, specifically in countries such as China, India, South Korea, and Japan. Countries that are one of the top destinations for electronics, automotive, metallurgy, and chemical industries, which are end-use industries, are expected to drive the hydrofluoric acid market over the coming years. Particularly, due to China being the biggest world producer and consumer of hydrofluoric acid, due to a huge fluorochemical industry, and a huge demand for aluminum and refrigerants. Furthermore, accessible raw materials, low-cost labor, and favorable government initiatives supporting industrial development are other factors adding fuel to the regional market.

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Recent Developments

• In February 2025 , Honeywell International Inc. said it commercially launched its proprietary solid acid catalyst technology, an alternative to liquid hydrofluoric acid in alkylation units. The move is viewed as a step to help improve refinery safety without compromising gasoline quality.
• In November 2024, Gujarat Fluorochemicals Limited (India) increased the hydrofluoric acid production volume of its Dahej facility by 25%, targeted toward fulfilling a higher demand from domestic and international customers in fluoropolymers and electronics.

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