Potassium Tetrafluoroborate Market size crossed USD 245 million in 2018 and expects consumption of over 110 kilo tons by 2025.
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Rising demand for metal processing and machining in automotive and industrial sector is likely to drive potassium tetrafluoroborate market growth. It is widely used as an additive in manufacturing of aluminum boron alloy. Global aluminum production and processing market was valued at over USD 260 billion in 2018. Aluminum containing high boron concentration is synthesized by reaction of the product which in turn improves the fluidity of molten alloy which may stimulate product demand.
|Potassium Tetrafluoroborate Market Size in 2018:||245 Million (USD)|
|Forecast Period:||2019 to 2025|
|Forecast Period 2019 to 2025 CAGR:||4.8%|
|2025 Value Projection:||340 Million (USD)|
|Historical Data for:||2014 to 2018|
|No. of Pages:||205|
|Tables, Charts & Figures:||290|
|Segments covered:||Purity, Application and Region|
|Pitfalls & Challenges:|
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Growing demand for abrasives owing to its huge demand in polishing and grinding application for end use sector such as automotive, metal fabrication, machinery and electronic & electrical equipment may drive the overall potassium tetrafluoroborate market revenue. Global abrasives market was valued at over USD 42 billion in 2018 owing to its grinding wheel product which is manufactured from abrasive grain and is a self-sharpening cutting tool widely used in metal fabrication industries.
Increasing demand for various chemicals such as boron trifluoride market in its various used in industries such as petrochemical, chemical, agrochemical and pharmaceutical owing to its non-flammable and compressed nature may drive the product growth. Global boron trifluoride market may surpass USD 340 million by 2025 owing to its wide usage as a catalyst for several reactions including alkylation, polymerization and isomerisation in chemical industries.
98% purity market demand may witness significant gains up to 3% by 2025. Increasing demand for oxygen sensitive application such as production of metal alloys such as aluminium, titanium and boron may stimulate the industry growth. The product is a water insoluble potassium source which is used as a fluxing agent in metal processing industries for production of boron alloys using aluminium and magnesium casting. It is also used as a raw material for preparation of various fluorine salts, thereby driving the product demand.
99% purity potassium tetrafluoroborate market size may surpass USD 110 million by the end of foreseeable timeframe. Growing demand for soldering application in electronics, heating, air condition to make a permanent connection between electronic components may boost product demand. The product is used as a fluxing agent for soldering which improves mechanical strength and electrical contact in solder joints, thereby driving the industry growth.
North America driven by Canada, Mexico, and the U.S. potassium tetrafluoroborate market was valued at over USD 70 million in 2018. Growing demand for abrasives in various machinery units which provides sophisticated machine parts and precision tooling is likely to promote industry growth. The product is used as an active filler in the preparation of resin bonded abrasives and is used as a component for fabrication of grinding wheel and abrasive disc to reduce the operating temperature and offers various sharp cutting tools, thereby driving the regional industry growth.
Europe led by France, Italy, UK and Germany potassium tetrafluoroborate market may expect gains close to 3% by 2025. Increasing usage of aluminium metal body in automotive which makes half the weight of average vehicle and are safe than using steel counterparts may drive the product growth. The product is widely used in aluminium metallurgy, which is used for fabrication of auto parts, aeroplane parts and is ideal for rail systems which may drive the industry growth.
Asia Pacific led by Japan, India and China market may surpass USD 80 million by 2025. Increasing investment in metal industry owing to its demand in various application such as automotive, electric, machinery and in construction industry may boost the product growth. The product is widely used as a reagent in these industries and is used for extraction, refining and processing of various metals in chemical industries which may boost the regional industry growth.
Global potassium tetrafluoroborate market share is moderately consolidated with key players including:
The manufacturers are focusing towards launch of new product line in purity form with ongoing research & development to enhance product portfolio. Furthermore, the industrial participants are concentrating to expand the business line by growing the manufacturing facilities for this product.
Increasing demand for various metal surface treatment chemicals for various operations such as adhesion, coating or printing may drive the product demand. Metal surface treatment chemicals help augment durability of metals used in automotive or as construction materials which may in turn boost the product growth. Furthermore, it also act as an adhesion promoter which in turn boost the product demand.