Fluoroboric Acid Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Global Fluoroboric Acid Market: Overview
Fluoroboric acid is a type of inorganic compound that has a chemical formula H3OBF4. The compound is an odorless, colorless, and poisonous liquid that is also called as tetrafluoroboric acid. It can be segmented into two grades such as pharmaceutical grade and industrial grade. The pharmaceutical grade fuloroboric acid is mainly used in the pharma industry to produce bulk drugs. It is also used as a catalyst compound in the manufacturing of etherifying acetals and cellulose, and also as a reagent. On the other hand, the industrial-grade fluoroboric acid has numerous industrial applications such as an etching agent in the manufacturing of printed circuits and electronic components, for electrodeposition in the electroplating sector, to clean up the metallic surfaces before the welding process, and to polish and brighten aluminum among others.
Global Fluoroboric Acid Market: Notable Developments
Some of the key developments in the global fluoroboric acid market are listed below:
Some of the most prominent competitors operating in the competitive landscape of global fluoroboric acid market include –
Global Fluoroboric Acid Market: Drivers and Restraints
Across the world, the overall consumption of inorganic chemical compounds such as fluoroboric acid is expected to grow at a steady pace. The growth of the global fluoroboric acid market is projected to be mainly driven by the increasing adoption of the chemical across a broad range of industries such as pharmaceutical and electroplating. Additionally, the increasing use of fluoroboric acid as a reagent and as a catalyst in chemical reactions is also helping to boost the growth of the market.
Global Fluoroboric Acid Market: Regional Outlook
From a geographical perspective, the fluoroboric acid market is segmented into key regions like the Asia Pacific, the Middle East, and Africa, Europe, North America, and Latin America. Of these mentioned regions, the highest growth potential is shown by the Asia Pacific region. This high growth potential is mainly due to the booming chemical industry of emerging economies such as India and China. On the other hand, North America and Europe are projected to witness steady growth during the given forecast period of 2018 to 2028 on account well-established R&D centers and consistent developments in the chemical industry.
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