The potassium fluoborate market is to reach a value of USD 296.7 million by the year 2022. Sales of potassium fluoborate are expected to expand CAGR of 4.0% and top a valuation of USD 439.2 million by 2032. Potassium fluoborate is extensively used in the metallurgy of aluminum and also used in soldering agents and abrasives applications.
Rising demand for machinery in industrial sectors such as automotive, oil & gas, petrochemicals & others, is expected to boost the demand for abrasives, propelling the sales of potassium fluoborate. They are frequently employed for optical deposition as well as for alloy metal.
It is possible to manufacture some fluoride compounds at the nanoscale and in extremely pure forms. Both optical quality and utility as per scientific standards are improved by ultra-high purity and high purity compositions. Potassium fluoborate finds a variety of applications such as soldering agents, abrasives, fluxing agents & others.
Due to its widespread usage, the market is expected to grow at a substantial growth rate during the forecast period. Potassium Fluoborate is scantly soluble in water, which makes it suitable for using it in oxygen-sensitive applications, such as metal production. It is also being employed in medical applications but at very low doses.
The rise in global demand for abrasives is one of the key reasons driving the expansion of the potassium fluoroborate market. Abrasives are the material, which is used to finish or shape a workpiece through rubbing and are extensively utilized in industries. These are used for polishing, cutting, drilling, grinding & others.
Abrasives are quite popular for polishing objects which are further used in automotive parts, electronics & electrical equipment, heavy types of machinery, and others. The potassium fluoroborate market benefits from the development of end-use industries, rapid urbanization and industrialization, high investments, and research & development activities. Potassium fluoborate is also used in the manufacturing of other fluoride chemicals, which are used in agrochemicals, pharma products & others.
Furthermore, its use as a catalyst for numerous reactions in the chemical industry, such as alkylation, polymerization, and isomerization, provides profitable potential to market participants during the projection period.
| Attributes | Key Insights |
|---|---|
| Potassium Fluoborate Market Sales (2021A) | USD 286.7 million |
| Estimated Market Size (2022E) | USD 296.7 million |
| Projected Market Value (2032F) | USD 439.2 million |
| Value CAGR (2022 to 2032) | 4.0% |
| Collective Value Share: Top 3 Countries (2022E) | 45.3% |
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The potassium fluoborate market witnessed a CAGR of 3.5% over the historical period of 2017 to 2021. The market shrank as a result of the 2020 pandemic crisis, which was reflected in material pricing, varying needs for chemicals and specialty materials, altered consumer expectations for chemical products, and increased logistical expenses. Each of these variables had a negative impact on the market during the initial quarters.
As per the current estimate, the potassium fluoborate market is poised to grow at around a CAGR of 4.0% for the period between 2022 and 2032. The growing demand for potassium fluoborate & fluoride compounds in industries for different functions is expected to boost the market.
Metallurgy, automotive, and oil & gas are some of the key industries for potassium fluoborate, hence the growth of these industries has a direct impact on the market. On the back of these factors, the demand in the market is projected to surge by 1.5x between 2022 and 2032.
Increasing Application as Soldering Agent to Spur the Sales in the USA
On the back of increasing application in diverse industries, the availability of raw resources, and a superior industrial environment, the USA is anticipated to dominate the North American region.
The USA is anticipated to have a significant share owing to its extensive and diverse industrial base and continuous petrochemical and gas & oil infrastructure development. The growth of the country is being influenced by the application of fluxing agents, soldering agents, and abrasives are used up to large extent.
Potassium fluoborate is employed as an active filler in the formation of resin-bonded abrasives, and as a component in the manufacture of grinding wheels. Also, abrasive discs to lower operating temperatures, and it provides a variety of sharp cutting tools, all of which contribute to the expansion of the domestic industry.
China to be the Manufacturing Hub for Potassium Fluoborate Companies
China is knowns as a manufacturing hub as it has a strong manufacturing base and the presence of numerous manufacturers. Increasing demand for the metal from industries & metal processing is primarily driving the market.
China also has a strong automobile industry, which is a key industry for the potassium fluoborate. The growing use of aluminum metal bodies in automobiles, which are safer to use than steel equivalents and make up half the weight of the average car, may promote the expansion of the potassium fluoborate. Aluminum is being used in automotive parts, railways, and planes in their components. Potassium fluoborate is used as an agent in the refining of aluminum.
Additionally, China has an evident chemical industry and it supplies various chemicals to other regions. Potassium fluoborate finds application in the chemical industry as it is used in the production of agrochemicals such as ammonium fluoride, sodium fluoride & others. It is also used as a precursor in producing electrolytes, which are a crucial part of lithium-ion batteries.
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99% Purity Potassium Fluoborate is the Most Preferred among Manufacturers
Potassium fluoborate is majorly available in 2 purities, such as one is less than 99% and another is more than 99% purity. Oxygen-sensitive applications such as metal alloy production like titanium, boron & aluminum, require potassium fluoborate. In oxygen-sensitive applications, less than 99% purity potassium fluoborate is used. It is a potassium source and partially soluble in water. It is used as a fluxing agent in the production of boron alloys using magnesium & aluminum casting as it is not soluble in water.
Growing demand for electronics, heating, and air conditioning to establish a long-lasting connection between electrical components may increase the demand. This is utilized as a fluxing agent for soldering, which enhances the mechanical strength and electrical contact in solder joints.
Application in Metal Fabrication and Automobile to Generate Maximum Revenue
Due to its widespread use in several applications across numerous industries, the global market for potassium fluoroborate is expected to grow. Fluoride compounds are frequently employed in alloying metal and optical deposition applications, both of which contribute to the expansion of the worldwide potassium fluoroborate market.
The global potassium fluoroborate market is gaining traction as a result of the rising demand for abrasives in various grinding and polishing applications for sectors like electronic & electrical equipment, metal fabrication, automobile, and machinery. The market for abrasives is growing quickly, and this growth is strongly correlated with the demand for potassium fluoroborate.
The market is expected to be consolidated with the presence of several dominant key players. These players are expected to hold more than 50% of the market share. Some of the prominent key trends are an expansion of production capacities and the adoption of new & modified manufacturing techniques.
Manufacturers are focusing on the launch of a new product line in purity form, as well as continued research and development to expand their product portfolio. Furthermore, industrial participants are focusing on developing manufacturing units in order to increase the core business.
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| Attribute | Details |
|---|---|
| Estimated Market Size (2022E) | USD 296.7 million |
| Projected Market Value (2032F) | USD 439.2 million |
| Value CAGR (2022 to 2032) | 4.0% |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Million for Value and Kilo Tons for Volume |
| Key Countries Covered | The USA, Canada, Brazil, Mexico, Germany, Italy, France, The United Kingdom, Spain, BENELUX, Russia, China, Japan, South Korea, India, ASEAN, Australia and New Zealand, GCC Countries, Turkey, Northern Africa, South Africa |
| Key Segments Covered | Purity, Grade, Application, and Region |
| Key Companies Profiled | Solvay S.A.; Morita Chemical Industries; Harshil Industries; Honeywell Fine Chemicals; AMG Aluminum; Madras Fluorine Ltd.; Stella Chemifa Corporation; Triveni Chemicals; Skyline Chemicals; Foshan Nanhai Fluoride Chemical Co. Ltd; Derivados Del Flúor (DDF); Hunan Merits New Materials Co. Ltd.; American Elements; PARTH INDUSTRIES; AWISHKAR CHEMICALS INDUSTRIES; S. B. CHEMICALS; FENGYUAN INDIA PRIVATE LIMITED. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The global market for potassium fluoborate is estimated to reach a valuation of USD 296.7 million in 2022.
The potassium fluoborate demand is anticipated to witness a growth rate of 4.0% over the forecast period of 2022 and 2032 in terms of value.
Solvay S.A., Morita Chemical Industries, Harshil Industries, Honeywell Fine Chemicals, AMG Aluminum, Madras Fluorine Ltd., Stella Chemifa Corporation, Triveni Chemicals, Skyline Chemicals, American Elements, PARTH INDUSTRIES, Foshan Nanhai Fluoride Chemical Co. Ltd., Derivados Del Flúor (DDF) and others are identified as the key manufacturers in the potassium fluoborate market.
Key players in the global potassium fluoborate market are expected to account for about 50-55% of the overall market share.
The top countries driving the global potassium fluoborate demand are the USA, China, Germany, Japan, and India.
1. Executive Summary | Potassium Fluoborate Market 2. Market Overview 3. Key Market Trends 4. Key Success Factors 5. Global Market Demand Analysis 2017 to 2021 and Forecast, 2022 to 2032 6. Global Market - Pricing Analysis 7. Global Market Demand (in Value or Size in USD million) Analysis 2017 to 2021 and Forecast, 2022 to 2032 8. Market Background 9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Purity 9.1. Less than 99% Purity 9.2. 99% & above purity 10. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Grade 10.1. Technical Grade 10.2. Reagent Grade 11. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Application 11.1. Soldering Agent 11.2. Metal Processing 11.3. Abrasives 11.4. Fluxing Agent 12. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Region 12.1. North America 12.2. Latin America 12.3. Europe 12.4. Middle East and Africa (MEA) 12.5. East Asia 12.6. South Asia and Pacific 13. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 14. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 15. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032 16. South Asia and Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032 17. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032 18. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032 19. Country-Wise Market Analysis 20. Market Structure Analysis 21. Competition Analysis 21.1. Solvay S.A. 21.2. Morita Chemical Industries 21.3. Harshil Industries 21.4. Honeywell Fine Chemicals 21.5. AMG Aluminum 21.6. Madras Fluorine Ltd. 21.7. Stella Chemifa Corporation 21.8. Triveni Chemicals 21.9. Skyline Chemicals 21.10. Foshan Nanhai Fluoride Chemical Co. Ltd 21.11. Derivados Del Flúor (DDF) 21.12. Hunan Merits New Materials Co. Ltd. 21.13. American Elements 21.14. PARTH INDUSTRIES 21.15. FENGYUAN INDIA PRIVATE LIMITED 21.16. S. B. CHEMICALS 21.17. AWISHKAR CHEMICALS INDUSTRIES 22. Primary Survey Analysis 23. Assumptions and Acronyms Used 24. Research Methodology
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Potassium Fluoborate Market
