Fluorosilicic Acid Market Expected to Reach $727.4 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Fluorosilicic Acid Market," The fluorosilicic acid market was valued at $389.4 million in 2021, and is estimated to reach $727.4 million by 2031, growing at a CAGR of 6.5% from 2022 to 2031.

The fluorosilicic acid also called hexafluoro silicic acid or hydroflurosilicic acid is an inorganic compound with a revealing sour taste and pungent smell. It has the chemical composition H2SiF6 and is an odorless liquid. Hexafluorosilicic acid is produced as a co-product during the manufacture of phosphate fertilizers. Fluorosilicic acid has a variety of uses, including electroplating, acidifying oil wells, sterilizing, commercial laundry, neutralizing wood preservative, eliminating stains and rust, and tanning ceramic, glass, and animal hides. It is used in manufacturing commercial detergents such as silicon tetrafluoride, cryolite, and other fluorosilicates.

One of the commonly utilized abrasives in the glass industry for glass etching applications is fluorosilicic acid. Products made with etched glass are frequently used in the building and construction sector. The rise in demand for glass goods in office and residential buildings is a significant element promoting the growth of the worldwide decorative glass market. As a result, etched glass products are becoming more and more popular thanks to their attractive appearance and energy savings through lower electricity consumption. Glass also controls solar radiation and offers thermal and acoustic insulation. Hence, the rising demand for products made of etched glass. The increasing demand for etched glass products will drive the growth of fluorosilicic acid market in the forecast period.

Fluorosilicic acid is used for fluoridation of water to maintain fluoride level in water by municipal corporations and as well as in toothpaste. Fluoride levels should be kept constant to prevent tooth decay. Fluorosilicic acid is a liquid, making it simple to handle and eliminating potential workplace dangers for plant operators. The World Health Organization, the American Dental Association, the American Academy of Pediatrics, and other regulatory organizations and dental groups all advise water fluoridation to prevent tooth decay. In areas with low naturally occurring fluoride levels in freshwater and groundwater, water fluoridation is preferable. Fluorosilicic acid will be more in demand as water fluoridation becomes more popular. These factors are expected to fuel the growth of the fluorosilicic acid market.

The corrosive nature and fuming property of concentrated fluorosilicic acid especially above 20% concentration may hamper the market growth. The acidic nature of this compound leaches the lead and arsenic from water delivery plumbing. In addition, it is a byproduct of phosphate fertilizer industry and claimed to be contaminated with heavy metals and radioactive elements. Other disadvantageous it a hazardous chemical, when touch with body cause burn to the skin. Inhalation may result in spasm, inflammation and oedema of the larynx and bronchi, chemical pneumonitis and pulmonary oedema. This factor will hinder the growth of market in the forecast period.

The fluorosilicic acid market is segmented on the basis of grade and application. By grade, the market is categorized into 25%, 35%, 40% and others. On the basis of application, the market is fragmented into water fluoridation, textile processing, metal surface treatment, hide processing, oil well acidizing and others. On the basis of region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

Major players that operate in the global fluorosilicic acid market include American Elements, Foshan Nanhai Shuangfu Chemical Co., Ltd, Gelest Inc., Hawkins, Inc., Honeywell International Inc., Hydrite Chemical, IXOM, KC Industries, LLC, Merck KGaA, Napco Chemical Company, Solvay SA, Thermo Fisher Scientific Inc., Univar Solutions Inc., VWR International, LLC., Xingxiang Yellow River Fine Chemical Industry Co., Ltd.

Other players operating in the fluorosilicic acid market are Buss ChemTech AG, Sinochem International Corp., Tanfac Industries ltd., Fubao Group, Navin Fluorine International Limited.

Key findings of the study

• The report outlines the current fluorosilicic acid market trends and future scenario of the market from 2022 to 2031 to understand the prevailing opportunities and potential investment pockets.
• The fluorosilicic acid market size is provided in terms of revenue and volume.
• Depending on grade, the 40% segment is expected to grow at a CAGR of 7.0%, in terms of revenue, during the forecast period.
• Depending on application, the water fluoridation segment is expected to grow at a CAGR of 7.2%, in terms of revenue, during the forecast period.
• By region, Asia-Pacific dominated the market with highest revenue shares of $125.3 million in 2021.

Japan and South Korea Overview

• The Asia-Pacific region is home to a large number of the world's leading manufacturers of fluorosilicic acid. China, Japan, South Korea, and India are the four countries that are home to majority of the manufacturing plants.
• Japan and South Korea combinedly hold 23.0% market share in Asia-Pacific region.
• Asia-Pacific is expected to be the region with the highest growth rate, led by Japan and South Korea.
• Changing consumption patterns, rapid urbanization, a growing population, substantial economic development, and rising per capita income are the primary factors influencing the market's expansion.

IMPACT OF COVID-19 ON THE GLOBAL FLUOROSILICIC ACID MARKET

• The recent COVID-19 pandemic negatively impacted the market for Fluorosilicic Acids in a significant way.
• Fluorosilicic acid demand was muted for six months in 2020 as a result of the Covid-19 outbreak, which had a substantial impact on the market. Construction, manufacturing, and chemical end-use industries, among others, have all experienced significant market growth. For instance, the building sector is well-established in the United States. Up until 2019, the building sector gave the American economy a $2 trillion boost. The epidemic caused the amount to decrease to $1.3 trillion in 2020. The development of all associated industries has been hampered as a result. A number of ongoing projects have been shelved or delayed.
• The automobile industry had seen a more than 20% decrease in the use of fluorosilicic acid for the manufacture of aluminium. The total output of vehicles in this sector directly affects the need for aluminium. The acid market consequently saw a similar impact on demand. The closure of showrooms, the complete and partial stoppage of manufacturing facilities, the restricted movement of goods, the ban on import and export activities, and other factors contributed to this.
• Large oil, gas, and chemical firms are reducing capital and operational expenditures.
• Companies with high debt and insufficient cash flow are more prone to encounter liquidity difficulties, and some may be forced to close their doors permanently.