Market Size of Fluorosilicic Acid Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Fluorosilicic Acid Market Analysis
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.
Fluorosilicic Acid Industry Segmentation
Fluorosilicic acid is an inorganic compound with the chemical formula (H3O)2SiF6 and is also called hexafluorosilicic acid. It is a colorless fuming liquid, corrosive to metals and tissue. The market is segmented by application and geography. By application, the market is segmented into fluorinating agents, agricultural chemicals, surface treating agents, flame retardants, construction materials, and other applications. The report also covers the market sizes and forecasts for the fluorosilicic acid market in 15 countries across the major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).
| Application | |
| Fluorinating Agents | |
| Agricultural Chemicals | |
| Surface Treating Agents | |
| Flame Retardants | |
| Construction Materials | |
| Other Applications |
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Fluorosilicic Acid Market Size Summary
The fluorosilicic acid market is poised for significant growth, driven primarily by increasing demand from the water treatment industry. Despite the initial setbacks caused by the COVID-19 pandemic, which slowed investments in water treatment and reduced industrial water demand, the market is expected to recover and expand. The Asia-Pacific region, particularly countries like China, India, and Japan, is anticipated to lead this growth due to rising water pollution and the need for effective water treatment solutions. Fluorosilicic acid, a byproduct of phosphate fertilizer production, plays a crucial role in water treatment processes, and its demand is further bolstered by the growing need for infrastructure development in these regions.
The market landscape is characterized by a few dominant players, including Solvay, Honeywell International Inc., and IXOM, among others. These companies are pivotal in shaping the market dynamics, with significant production facilities located in the Asia-Pacific region. The region's reliance on groundwater sources for drinking water, coupled with the expansion of construction and infrastructure projects, particularly in India, is expected to drive the demand for fluorosilicic acid. However, the market faces challenges due to the corrosive nature of the acid, which could impede its growth. Nonetheless, the ongoing efforts to enhance wastewater management and the substantial investments required to address water scarcity issues are likely to sustain the market's upward trajectory.
Fluorosilicic Acid Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Growing Demand from the Water Treatment Industry
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1.1.2 Other Drivers
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1.2 Restraints
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1.2.1 Fuming and Corrosive Nature of Fluorosilicic Acid
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1.2.2 Impact of COVID - 19
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Application
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2.1.1 Fluorinating Agents
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2.1.2 Agricultural Chemicals
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2.1.3 Surface Treating Agents
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2.1.4 Flame Retardants
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2.1.5 Construction Materials
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2.1.6 Other Applications
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2.2 Geography
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2.2.1 Asia-Pacific
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2.2.1.1 China
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2.2.1.2 India
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2.2.1.3 Japan
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2.2.1.4 South Korea
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2.2.1.5 Rest of Asia-Pacific
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2.2.2 North America
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2.2.2.1 United States
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2.2.2.2 Canada
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2.2.2.3 Mexico
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2.2.3 Europe
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2.2.3.1 Germany
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2.2.3.2 United Kingdom
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2.2.3.3 France
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2.2.3.4 Italy
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2.2.3.5 Rest of Europe
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2.2.4 South America
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2.2.4.1 Brazil
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2.2.4.2 Argentina
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2.2.4.3 Rest of South America
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2.2.5 Middle-East and Africa
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2.2.5.1 Saudi Arabia
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2.2.5.2 South Africa
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2.2.5.3 Rest of Middle-East and Africa
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Fluorosilicic Acid Market Size FAQs
What is the current Fluorosilicic Acid Market size?
The Fluorosilicic Acid Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Fluorosilicic Acid Market?
Napco Chemical Company, American Elements, IXOM, Solvay and Honeywell International Inc. are the major companies operating in the Fluorosilicic Acid Market.
