As per Future Market Insights, the potassium fluoride market is anticipated to attain a value pool of US$ 1,200 million by 2023-end. Global demand for potassium fluoride is expected to rise at a CAGR of 4.7% to US$ 1,900 million in 2033.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 1,200 million |
| Projected Market Value in 2033 | US$ 1,900 million |
| Growth Rate (2023 to 2033) | 4.7% CAGR |
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As per a research conducted, sales of potassium fluoride is anticipated to grow with a CAGR of 3.0% to 5.0% during the coming assessment period of 2021 and 2031. The inorganic compound is one of the key source for fluorine ion for several applications.
The increasing demand of fluorine chemicals is a key factor driving growth of the market. It is also known commonly as potassium monofluoride.
For the preparation of various organic chemicals, potassium monofluoride is used as a fluorinating agent to provide fluorine ions. The growing demand for organic chemical all over the globe is expected to benefit the sales volume.
In the industries of metallurgy, the compound is used as a flux for metal finishing applications including surface coatings in a metal, in tin plating and other applications. The growing demand for metal surface coatings and tin plating is also estimated to boost the market.
Further, the increasing sales of high quality glass is also expected to benefit the growth for the compound as it is used as flux for high quality glass manufacturing.
The inorganic compound can also be used in the production of agrochemicals including insecticides, pesticides and disinfections. The increasing consumption of agrochemicals and disinfectants is expected to provide considerable opportunities for the fluoride compound over the forecast period.
Principal Consultant
By Finkelstein and Halex reactions, potassium monofluoride is used to convert chloro-carbons to fluorocarbons in several chemical industries. The increasing demand for fluoride compounds for organic chemical production is estimated to benefit the market. This fluoride compound is used as fluorinating agents in the synthesis of various organic chemicals.
Potassium fluoride is also used as a catalyst and dehydrating agents as base in several organic chemicals’ reactions. The growing organic chemicals sales all over the globe is estimated to boost the consumption rate for the compound in the coming years.
Moreover, fluoride ion source are used for the study of ion specific de-swelling and swelling of certain polymeric gels. Research on oxidation of noble metals in hydrogen fluoride at room temperature is going on. These research activities are projected to bolster the application of fluoride compounds in the coming years.
Substantial development in the chemical industry especially organic chemical industry in USA and Canada is anticipated to maintain the growth rate of Potassium fluoride in these countries. Increasing demand for fluorinating compounds in the chemical industries in these countries is also expected to bolster the consumption in the coming years.
Significant growth in the metal industries is also anticipated to benefit the market over the forecast period in USA and Canada. Considerable demand for agrochemicals is also expected to boost the demand for potassium monofluoride in near future. Increasing investment in research is also estimated to benefit the market as it will create a wide range of application field for the compound in both the countries.
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Significant growth in the agrochemical industries in Asia Pacific region is expected to benefit the sales volume in the coming years. Significantly growing chemical industries in Asia Pacific region especially in China, India and ASEAN has maintain the growth of the Potassium Fluoride Market, and is projected to maintain the growth over the coming decade.
The growing demand for fluxing agents in glass manufacturing and in metal industry in Asia Pacific region is anticipated to bolster the consumption rate of the compound in the coming years. Moreover, increasing demand for optical glasses in the region is also expected to benefit the growth rate of the market as the compound is used to frost and etch glass in glass manufacturing sector.
Some of the leading manufacturers and suppliers of Potassium Fluoride include
With the increasing demand for the potassium fluoride compound, key players are focusing on expanding their production capacity. The players are also focusing on acquisition of small and medium size market participants to enhance their market footprint. With the growing requirement for decreasing hazards generation in the chemical industries, the key players are also focusing on sustainable development by treating the hazards generated in the chemical plant.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Potassium Fluoride Market
