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Fluorosilicic Acid Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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  • 110 Pages
  • January 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 5332882

The fluorosilicic acid market is expected to register a CAGR of more than 6% during the forecast period, 2021-2026.

COVID-19 negatively impacted the fluorosilicic acid market in 2020. Due to the pandemic, the investments in water treatment slowed down. Low reliability, quality of water, and sanitation are the major risks for the wastewater treatment industry. There was a reduction in demand for industrial water, which registered a fall of 27%, according to the Global Water Leaders Group survey. With the relaxation of the lockdown and restrictions by the governments being slowly lifted around the world, the fluorosilicic acid market is expected to witness positive growth in the coming years.

Over the mid-term, the major factor driving the market studied is a growing demand from the water treatment industry.

On the flip side, the fuming and corrosive nature of fluorosilicic acid is hindering the growth of the market.

The Asia-Pacific region represents the largest market, and it is also expected to be the fastest-growing market over the forecast period owing to the increasing consumption from countries such as China, India, and Japan.

Key Market Trends

Growing Demand for Fluorinating Agent in the Water Treatment Industry

Fluorosilicic acid is produced as a co-product while manufacturing phosphate fertilizers and from phosphate rock, which contains fluoride and silica, and is treated with sulfuric acid. It is a dry salt additive dissolved into a solution before being added to water.

Rising ground and surface water pollution boost the requirement of water treatment, which in turn, boosts the demand for fluorosilicic acid.

According to the United Nations Educational, Scientific, and Cultural Organization (UNESCO), global water consumption increased by around 6 times in the last 100 years, and the world is likely to face a 40% water deficit by 2030.

The Council on Energy, Environment & Water (CEEW), in association with the 2030 Water Resources Group, has been planning to improve wastewater management in India, along with increasing private investments to build wastewater treatment plants.

According to UNESCO, an investment of around USD 6.7 trillion is required during 2020-2030 to prevent water scarcity, and a significant amount of this expenditure is needed to be invested in water and wastewater treatment.

Hence, owing to the above-mentioned factors, the application of fluorosilicic acid from the water treatment industry is likely to dominate during the forecast period.

The Asia-Pacific Region is Expected to Dominate the Market

The Asia-Pacific region is expected to dominate the market for fluorosilicic acid during the forecast period. The rising demand for fluorosilicic acid from the water treatment plants and growing applications in the construction sector in developing countries like China, Japan, and India are expected to drive the demand for fluorosilicic acid in this region.

The largest producers of fluorosilicic acid are located in the Asia-Pacific region. Most of the manufacturing plants are located in China, Japan, and India.

The major population of China relies on groundwater sources for drinking water, which are either untreated or not properly treated by municipal water suppliers, which increases the need for water treatment.

According to China Statistical Yearbook 2020, China's gross production value of agriculture increased by 7% and stood at CNY 6.6 trillion in 2019 compared to CNY 6.15 trillion in 2018.

India is one of the largest exporters (in top 15) of agricultural products across the world. In FY 2020, the agricultural export in the country reached USD 35.09 billion from USD 38.54 billion in FY 2019.

Fluorosilicic acid is used in cement manufacturing to harden cement. The Indian government planned initiatives to develop 98 smart cities along with the initiatives such as PMAY to build around 20 million urban homes and 30 million rural houses by 2022, fueling the infrastructure and construction development.

Owing to the above-mentioned factors, the market for fluorosilicic acid in the Asia-Pacific region is projected to grow significantly during the study period.

Competitive Landscape

The fluorosilicic acid market is partially consolidated in nature with only a few major players dominating the market. Some of the major companies are Solvay, Honeywell International Inc., Napco Chemical Company, American Elements, and IXOM, among others.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

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Table of Contents

1.1 Study Assumptions
1.2 Scope of the Study
4.1 Drivers
4.1.1 Growing Demand from the Water Treatment Industry
4.1.2 Other Drivers
4.2 Restraints
4.2.1 Fuming and Corrosive Nature of Fluorosilicic Acid
4.2.2 Impact of COVID - 19
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5.1 Application
5.1.1 Fluorinating Agents
5.1.2 Agricultural Chemicals
5.1.3 Surface Treating Agents
5.1.4 Flame Retardants
5.1.5 Construction Materials
5.1.6 Other Applications
5.2 Geography
5.2.1 Asia-Pacific China India Japan South Korea Rest of Asia-Pacific
5.2.2 North America United States Canada Mexico
5.2.3 Europe Germany United Kingdom France Italy Rest of Europe
5.2.4 South America Brazil Argentina Rest of South America
5.2.5 Middle-East and Africa Saudi Arabia South Africa Rest of Middle-East and Africa
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 American Elements
6.4.2 Thermo Fisher Scientific Inc.
6.4.4 Hawkins
6.4.5 Honeywell International Inc.
6.4.6 Hydrite Chemical
6.4.7 IXOM
6.4.8 KC Industries LLC
6.4.9 Napco Chemical Company
6.4.10 Merck KGaA
6.4.11 Solvay
6.4.12 Univar Solutions Inc.
6.4.13 VWR International LLC
6.4.14 Xinxiang Yellow River Fine Chemical Industry Co. Ltd
7.1 Growing Demand for Fluorosilicic Acid Made Etched Glass
7.2 Other Opportunities

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • American Elements
  • Thermo Fisher Scientific Inc.
  • Hawkins
  • Honeywell International Inc.
  • Hydrite Chemical
  • IXOM
  • KC Industries LLC
  • Napco Chemical Company
  • Merck KGaA
  • Solvay
  • Univar Solutions Inc.
  • VWR International LLC
  • Xinxiang Yellow River Fine Chemical Industry Co. Ltd