According to a new research report by Global Market Insights Inc., the Fluorosilicic Acid Market size is set to surpass USD 640 million by the end of 2027.
Fluorosilicic acid is a colorless inorganic compound well-suited for various applications including metal surface treatment, water fluoridation, and cleaner & pH adjuster in industrial textile processing and laundries. It finds extensive usage for hardening masonry & ceramics, processing of hides, and manufacturing of other chemicals. It is also widely adopted in industrial and municipal water treatment for water fluoridation applications.
Increasing use of 35% fluorosilicic acid in electronic materials to boost business growth
The global 35% fluorosilicic acid market size exceeded USD 95 million in the year 2020. 35% grade is also ideal for the liquid phase deposition of silica, which drives its application in electronic materials. The growing electronic industry along with an increasing demand for electronic materials from various industries, such as automotive and aerospace, is expected to boost the growth of fluorosilicic acid market.
The increasing use of sodium fluorosilicate as insecticide and rodenticide will boost 35% grade demand in sodium fluorosilicate production. Rising incidences of reduced crop productivity due to insects and rodents along with increasing exports of agricultural outputs globally are driving the requirement of insecticides and rodenticides. This factor will boost the growth of 35% fluorosilicic acid market for sodium fluorosilicate production.
35% grade is widely adopted for the fluoridation of municipal water supplies. According to the U.S. Division of Oral Health, drinking fluorinated water keeps teeth strong and prevents & reduces cavities; therefore, it is extensively used in municipal water supplies. The government focus on the supply of fluoridated water due to safety & health benefits will foster the 35% fluorosilicic acid demand.
The product is used in the production of ammonium fluoride and silica, which are widely used in metal polish and glass etching in the construction sector. Increasing construction activities along with the rising Indian construction industry will drive product demand. Moreover, rising government construction projects and real estate developments in urban areas are anticipated to drive the 35% grade demand in the predicted period.
Browse key industry insights spread across 210 pages with 180 market data tables and 34 figures & charts from the report, “Global Fluorosilicic Acid Market Size, By Grade (40%, 35%, 25%), By Application (Water Fluoridation, Textile Processing, Metal Surface Treatment, Hydrogen Fluoride, Aluminum Fluoride, Silicofluoride, Electroplating, Hide Processing, Oil Well Acidizing), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2027”, in detail along with the table of contents:
Increasing exploration and production of oil & gas to stimulate product demand for oil well acidizing application
The oil well acidizing application segment is expected to exceed USD 40 million by the end of 2027. This acid is widely used by oil & gas operators in acidizing treatments to enhance well productivity. Increasing government investments in the oil & gas industry along with the growing consumption and demand for oil & gas in India will drive the overall product demand. In 2020, the International Energy Agency (IEA) raised its forecast on oil demand growth in 2021, which will boost oil production, thus driving the growth of fluorosilicic acid market for oil exploration & production activities.
The COVID-19 pandemic has resulted in global economic slowdown, dampening of consumer confidence, and declining industrial activities including oil well acidizing. However, the demand recovery and gain in consumer confidence will depend on the evolution of the disease, considering the potential impact of recovery from COVID-19 disruption and its effect on production activities.
Oil & gas companies are focusing on improving their overall performance to support a healthy business, which will favor the fluorosilicic acid business growth. In the recovering global economy & oil market, oil demand growth from developing and emerging economies is anticipated to drive product demand for oil well acidizing application, in turn, boosting business growth.
Growth in the textile and polymer industries in Asia Pacific to drive regional product demand
The Asia Pacific fluorosilicic acid market should exceed USD 130 million by the end of 2027 with substantial growth in the predicted timeframe owing to the changing lifestyles and high disposable incomes in Asia Pacific are driving the dental care and commercial laundry markets. The use of fluorosilicic acid in fabric treatments offers stain & oil resistance and durability in the textile industry. Increasing exports of leather garments, leather goods, and finished leather from India will boost product demand in leather production.
The availability of raw materials, which include phosphate rock in the region, will drive the market growth. Rising demand for textiles owing to the increasing population, changing consumption patterns, and expansion of retail & online sales channels are driving the demand for clothing in the predicted timeframe.
The fluorosilicic acid industry is competitive and includes various players such Napco Chemical Company, Hawkins Inc., IXOM, Lanxess AG, Merck KGaA, and Plater Group. Companies are focusing on business strategies such as production expansion, mergers, and acquisitions for business expansion.