Middle East & Africa Fluoroboric Acid Market: Industry Analysis and Forecast (2023-2029)
Middle East & Africa Fluoroboric Acid Market was valued at USD 0.24 billion in 2022. The Middle East & Africa Fluoroboric Acid Market size is estimated to grow at a CAGR of 3.8 % over the forecast period.
Format : PDF | Report ID : SMR_808
Middle East & Africa Fluoroboric Acid Market Definition:
In the future years, the Middle East & Africa fluoroboric acid market is expected to rise at a significant rate. An increase in the consumption of some inorganic chemical compounds, such as fluoroboric acid, can be attributed to Middle East & Africa market growth. Furthermore, the Middle East & Africa fluoroboric acid market is expected to rise due to growing chemical adoption across numerous applications, such as electroplating and pharmaceuticals. The Middle East & Africa fluoroboric acid market is expected to grow as the use of fluoroboric acid as a catalyst and reagent in chemical reactions grows.
Further, the Middle East & Africa Fluoroboric Acid market is segmented by type, grade type, application, and geography. On the basis of Grade type, the Middle East & Africa Fluoroboric Acid market is segmented under Industrial grade, and pharmaceutical grade. Based on the application, the market is segmented under the channels of Medicine, Chemicals, Electroplating, and Others. On the basis of type, the Middle East & Africa Fluoroboric Acid market is segmented under Hydrogen Tetra-Hydroborate, Tetra Fluoroboric Acid, Fluoboric Acid 50%. By geography, the market covers the major countries in Middle East & Africa i.e South Africa, Nigeria, Saudi Arabia, UAE, Kuwait, Egypt and Rest of Middle East and Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD Billion).
Middle East & Africa Fluoroboric Acid Market Dynamics:
Market Drivers: Fluoroboric acid and other inorganic compounds are expected to gain popularity in the Middle East & Africa fluoroboric acid market, during the forecast period. Due to its rising use in a range of applications such as electroplating, pharmaceuticals, and laboratory reagents, fluoroboric acid is expected to see significant demand in the Middle East & Africa fluoroboric acid markets. In the Middle East & Africa Fluoroboric acid market, electroplating is a major driver of growing demand. Electroplating is a process that coats metal components in a thin layer of another metal and is utilized in a variety of markets.
Electroplating copper can be very beneficial in industrial settings, such as the manufacture of electronic parts and components, as well as valuable parts for the aerospace and defense markets. Copper plating is also widespread on plastics and other non-metallic surfaces. The Middle East & Africa fluoroboric acid market is expected to develop due to the chemical's increased application in a variety of markets, including pharmaceuticals and electroplating. Fluoroboric acid is also being more widely used as a reagent and catalyst in chemical reactions, which is aiding the market growth.
Market Restraints: The fluoroboric acid market in Middle East & Africa is expected to grow significantly in the forecast year. Due to the limited manufacturing and sales of fluoroboric acid, a highly dangerous chemical compound, manufacturers must obtain government-issued licences, and Middle East & Africa's fluoroboric acid market share is likely to be affected over the forecast period.
Fluoroboric acid is a caustic and toxic chemical found in nature. Because of these characteristics, it can only be used in a limited number of applications. Middle East & Africa's fluoroboric acid market share is expected to be restricted over the forecast period, because producers must get government-issued licences to make and sell fluoroboric acid, a highly toxic chemical product. Fluoroboric acid is a naturally occurring caustic and poisonous compound. It can only be employed in a restricted number of applications due to these properties.
Market Challenges: The Middle East & African fluoroboric acid market is expected to grow consistently from 2021 to 2027, because of well-established R&D centers and consistent chemical market advancements. The fluoroboric acid market is dominated by the Middle East & African area, with a 12 %. Because the Middle East & African region contains well-established electroplating and metal processing enterprises, demand for the acid is likely to expand.
The automotive industry is one of the most well-known end-users of electroplating. Because of well-established research and development facilities in the pharmaceutical and healthcare businesses, the whole Middle East & African fluoroboric acid market is expected to grow. As a result of the economic and political turbulence in the Middle East & Africa, fluoroboric acid output and demand are likely to decline.
Middle East & Africa Fluoroboric Acid Market Segment Analysis:
By Product, Industrial grade is expected to grow at a CAGR of 3.8% during the forecast period. Industrial-grade fluroboric acid is used in a range of markets. The same technique can also be used to clean metallic surfaces before welding. The pharmaceutical grade of fluroboric acid is frequently used in the pharmaceutical market for bulk drug production. It's also been used as a catalyst chemical in the production of etherifying cellulose and acetals. Furthermore, the same acid was utilized as the reagent. The North African fluoroboric acid market is expected to increase significantly over the forecast period as a consequence of these many applications.
Fluoroboric acid of industrial grade, 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 application in medicine is expected to grow significantly through the forecast period. Fluoroboric acid is the most frequent precursor of fluoroborate salts, which are typically produced 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 has been replaced in this application with methanesulfonic acid. Fluoroboric acid is a toxin that causes skin and eye irritation. It can eat right through the glass. As it hydrolyzes, it corrodes and emits caustic, volatile hydrogen fluoride.
Fluoroboric acid is also used in aluminum etching and acid pickling. Fluoroboric acid is used as a catalyst in alkylation and polymerizations. In carbohydrate protection operations, ethereal fluoroboric acid is an efficient and cost-effective catalyst for transactivation and isopropylidenation reactions. Acetonitrile and some ethers solutions cleave acetals. A number of reactive cations, including tropylium tetrafluoroborate, have been synthesized using fluoroboric acid. Fluoroboric acid solutions are used in the electroplating of tin and tin alloys.
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.
Middle East & Africa 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 Middle East & Africa market, key players in the market, particularly in this region, 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 Middle East & Africa Fluoroboric Acid market to the stakeholders in the market. The report provides trends that are most dominant in the Middle East & Africa 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 Middle East & Africa 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 Middle East & Africa 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 industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Middle East & Africa 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 Middle East & Africa 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 Middle East & Africa Fluoroboric Acid market. The report also analyses if the Middle East & Africa 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 Middle East & Africa Fluoroboric Acid market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Middle East & Africa Fluoroboric Acid market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Middle East & Africa Fluoroboric Acid market is aided by legal factors.
Middle East & Africa Fluoroboric Acid Market Scope:
Middle East & Africa Fluoroboric Acid Market Scope
Market Size in 2022
USD 0.24 Bn.
Market Size in 2029
USD 0.30 Bn.
by Grade Type
by Distribution Channel
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
Middle East & Africa Fluoroboric Acid MARKET KEY PLAYERS:
Frequently Asked Questions
The segments covered in the Middle East & Africa Fluoroboric Acid Market report are based on Grade Type, Type, and Application.
The market size of the Middle East & Africa Fluoroboric Acid Market by 2027 is expected to reach USD 0.30 Billion.
The forecast period for the Middle East & Africa Fluoroboric Acid Market is 2022-2027.
The market size of the Middle East & Africa Fluoroboric Acid Market in 2021 was valued at USD 0.24 Billion.
- Scope of the Report
- Research Methodology
- Research Process
- Middle East & Africa Market: Target Audience
- Middle East & Africa Market: Primary Research (As per Client Requirement)
- Middle East & Africa Market: Secondary Research
- Executive Summary
- Competitive Landscape
- Stellar Competition matrix
- Middle East & Africa Stellar Competition Matrix
- Key Players Benchmarking: - by Product, Pricing, Investments, growth Plans, Physical Presence, and Presence in the Market.
- Mergers and Acquisitions in Industry: - M&A by Region, Value, and Strategic Intent
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Challenges
- PESTLE Analysis
- PORTERS Five Force Analysis
- Value Chain Analysis
- Stellar Competition matrix
- Middle East & Africa Market Segmentation
- Middle East & Africa Market, by Grade Type (2021-2027)
- Industrial Grade
- Pharmaceutical Grade
- Middle East & Africa Market, by Application (2021-2027)
- Middle East & Africa Market, by Type (2021-2027)
- Hydrogen Tetra-Fluoborate
- Tetra Fluoroboric Acid
- Fluoboric Acid 50%
- Middle East & Africa Market, by Distribution Channel (2021-2027)
- Middle East & Africa Market, by Country (2021-2027)
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
- Middle East & Africa Market, by Grade Type (2021-2027)
- Company Profiles
- Key Players
- Aktol Chemicals
- Company Overview
- Product Portfolio
- Financial Overview
- Business Strategy
- Key Developments
- REDA Chemicals
- REDA Chemicals
- Aktol Chemicals
- Key Players
- Key Findings