Fluoroboric Acid Market: Global Industry Analysis and Forecast (2024-2030)

Fluoroboric Acid Market Definition:

Fluoroboric acid has the chemical formula H3OBF4 and is an inorganic substance. Tetrafluoroboric acid is a toxic, odourless, colourless liquid that is also known as tetrafluoroboric acid.  Fluoroboric acid is commercially available in standard concentrations ranging from 41% to 50%. It is frequently a very powerful acid that is diluted with water and solvents such as diethyl ether.

 

Further, the Fluoroboric Acid market is segmented by Type, Application, and geography. On the basis of Type, the Fluoroboric Acid market is segmented under Industrial Grade, and Pharmaceutical Grade. Based on the Application, the Fluoroboric Acid market is segmented under the channels Medicine, Chemicals, Electroplating, and Others. By geography, the market covers the following Regions: North America, Europe, Asia-Pacific, South America, and Middle East & Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD Billion).

 

 

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Fluoroboric Acid Market Dynamics:

Market Drivers: Inorganic compounds like fluoroboric acid are expected to grow gradually in popularity over the next few years all around the world. Fluoroboric acid is expected to see significant demand due to its growing use in a variety of applications, including electroplating, medicines, and laboratory reagents, among others. The rising popularity of the chemical across a wide range of industries, such as pharmaceuticals and electroplating, is expected to fuel the growth of the fluoroboric acid market. Moreover, the increasing use of fluoroboric acid as a reagent and catalyst in chemical reactions is assisting in the market's growth.

 

Market Restraints: Sales of fluoroboric acid in pharmaceutical formulations are expected to provide a strong foundation for the fluoroboric acid market to grow substantially in the coming years. However, fluoroboric acid is a dangerous chemical compound, government-issued licences are required to make it, and the fluoroboric acid market share is likely to be hampered during the forecast period due to the limited production and sales of fluoroboric acid.

 

Fluoroboric acid has an effect on you when you take a breath and it passes through your skin. It is a corrosive chemical that can cause serious skin burns and eye irritation if it comes into touch with it. Shortness of breath can be caused by inhaling fluoroboric acid, which irritates the lungs. Fluoroboric acid can produce nausea, vomiting, diarrhoea, and tooth and bone changes if exposed to it repeatedly. As a result of this, the market for fluoroboric acid has been impacted.

 

Recent Developments in Market:

1. In March 2021, BASF SE announced a price increase of USD 0.05 per pound for all grades of formic acid in North America. Fluoride, fluoropolymers, and fluorosurfactants, among other fluorinated derivatives, are all made from hydrofluoric acid. Hydrofluoric acid produces the fluorides Na3AlF6 and AlF3, which are the most prevalent. They are in high demand as a result of the growing aluminum market.

 

2. Johnson Matthey (JM), a leader in the fluoroboric acid market, has signed a long-term battery materials supply agreement with Lithium Werks, a well-known name in the energy storage and battery business. JM will offer its LFP battery cathode material under the terms of the deal, which began in April 2019 and will last for the following five years. The deal was reached in order to meet the growing demand for highly efficient energy storage solutions from consumers and businesses.

 

Fluoroboric Acid Market Segment Analysis:

By Type, Fluoroboric acid of industrial grade is utilized in a variety of industries. Additionally, the same can be used to clean metallic surfaces before the welding process. The pharmaceutical grade of fluoroboric acid, on the other hand, is widely employed in the pharmaceutical sector for the manufacturing of bulk medicines. It's also been utilized to make etherifying cellulose and acetals as catalyst chemicals. In addition, the same acid has been used as the reagent. As a result of these diverse uses, the fluoroboric acid market is expected to enjoy significant growth during the forecast period.

 

Pharmaceutical grade fluoroboric acid is primarily utilized in the production of bulk medicines in the pharmaceutical sector. It's also utilized as a reagent and a catalyst compound in the production of etherifying acetals and cellulose. Industrial-grade fluoroboric acid, on the other hand, is used as an etching agent in the manufacture of printed circuits and electronic components, as an electrodeposition agent in the electroplating market, to clean metallic surfaces prior to welding, and to polish and brighten aluminum, among other things.

 

 

By Application, Fluoroboric acid is the most common precursor of fluoroborate salts, which are usually made by reacting metal oxides with the acid. Inorganic salts are employed as intermediates in the manufacturing of flame-retardant materials, glazing frits, and boron electrolysis. Fluoroboric acid is also utilized in acid pickling and aluminum etching. Alkylations and polymerizations use Fluoroboric acid as a catalyst. Ethereal fluoroboric acid is an efficient and cost-effective catalyst for transactivation and isopropylidenation reactions in carbohydrate protection processes.

 

Acetals and certain ethers are cleaved by acetonitrile solutions. Fluoroboric acid has been used to make a variety of reactive cations, including tropylium tetrafluoroborate. In the electroplating of tin and tin alloys, Fluoroboric acid solutions are utilized. Methanesulfonic acid has taken the place of fluoroboric acid in this application. Fluoroboric acid is a toxin that affects the skin and eyes. It eats through the glass. It corrodes and releases caustic, volatile hydrogen fluoride as it hydrolyzes.

 

Fluoroboric Acid Market Regional Insights:

The Asia Pacific region dominated the market with a 35% share in 2023. This increase can be attributed to the region's increased consumption and manufacturing of Fluoroboric acid. The growing chemical industries of emerging economies like India and China are largely responsible for this tremendous development potential.

 

North America and Europe, on the other hand, are expected to increase steadily over the forecast period of 2024 to 2030, owing to well-established R&D centers and consistent chemical market advances. Demand for the acid is expected to rise because both regions have well-established electroplating and metal processing businesses. The automotive sector is one of the most well-known end-users of electroplating. The overall fluoroboric acid market is expected to grow due to well-established research and development centers in the pharmaceutical and healthcare industries. Economic and political disturbances in North America are likely to reduce fluoroboric acid supply and demand.

 

In the Middle East and Africa, The installation of new research and development centers and laboratories for the chemical formulation is expected to result in a minor increase in demand for fluoroboric acid throughout the region. Continuous developments in the Middle East and Africa's heavy industrial equipment sector would strengthen the region's growth.

 

Fluoroboric Acid Market Key Players Insights:

The market is characterized by the existence of a number of well-known firms. These companies control a large portion of the market, have a wide product portfolio, and have a presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.

 

The market's major companies have a significant impact because most of them have extensive networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the market, key players in the market, particularly in North America and Europe, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.

 

The objective of the report is to present a comprehensive analysis of the Fluoroboric Acid market to the stakeholders in the market. The report provides trends that are most dominant in the Fluoroboric Acid market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Fluoroboric Acid Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Fluoroboric Acid market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the maarket and market growth through the forecast period. The report also includes the competitive landscape of key players in the market along with their recent developments in the Fluoroboric Acid market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Fluoroboric Acid market.

 

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their product quality is in the Fluoroboric Acid market. The report also analyses if the Fluoroboric Acid market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly, if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Fluoroboric Acid market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Fluoroboric Acid market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Fluoroboric Acid market is aided by legal factors.

 

Fluoroboric Acid Market Scope:

Fluoroboric Acid Market
Market Size in 2023	USD 2.43 Bn.
Market Size in 2030	USD 3.01 Bn.
CAGR (2024-2030)	3.1%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	by Type Industrial Grade Pharmaceutical Grade
	by Application Medicine Chemicals Electroplating Others
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Fluoroboric Acid Market Key Players: 

• AK Scientific (USA)
• BOC Sciences (USA)
• Capot Chemicals (China)
• Chemieliva Pharmacutical
• FAR Chemicals (Bangladesh)
• Chordip (UK)
• Haihang Industry (China)
• Synthon Chemicals
• S. B. Chemicals
• Atotech (US)s
• Chemical Chemical Corp
• Johnson Matthey
• OMG Fidelity
• Solvay Fluorides