Fluoroboric Acid Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Global Fluoroboric Acid Market: Snapshot
The fluoroboric acid market has been anticipated to experience innumerable growth opportunities in the upcoming years. This market growth can be attributed to the growing use of consumption of different inorganic chemical compounds, for example, fluroroboric acid. In addition to this, the rising adoption of chemicals across different industries, for example, electroplating and pharmaceutical are also anticipated to fuel growth opportunities in the fluoroboric acid market. The growing use of fluroroboric acid as a catalyst and as a reagent in chemical reactions has been estimated to fuel growth impetus in the fluoroboric acid market.
Fluroboric acid serves as the inorganic compound type, which has the chemical formula H3OBF4. This compound is poisonous, colorless, and odorless liquid and it is addressed as tetrafluroboric acid. Further, it has been bifurcated into two different grades named industrial grade and pharmaceutical grade. Industrial-grade fluroboric acid is used across different industries, for instance, as the etching agent to manufacture electronic compounds and printed circuits. In addition to this, it is also used for electrodeposition in electroplating sector and for the polishing and brightening of aluminum. Further, the same can be used for the cleaning of the metallic surfaces before the welding process. On the other hand, the pharmaceutical grade of fuloroboric acid is commonly used in the pharma industry for the production of bulk drugs. It has also been used as the catalyst compound to manufacture etherifying cellulose and acetals. Furthermore, the same acid has also been applied as the reagent. Thus, based on these wide applications, the fluoroboric acid market has been estimated to experience significant growth opportunities in the years to come.
Based on regions, the fluoroboric acid market is spread across North America, the Middle East & Africa, Europe, Latin America, and Asia Pacific. Among these, the Asia Pacific region is predicted to have a dominating position in the fluoroboric acid market. This growth in the fluoroboric acid market can be attributed to the booming chemical industry among emerging economies.
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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