Fluorosilicic Acid Market Is Likely to Experience Strong Growth
The market research report, entitled Fluorosilicic Acid Market shows good possibilities in the Fluorosilicic Acid Market during the next five-year period and ensures more information regarding market trends. The following summary will give an overview of the drivers, challenges, and key players in the market.
Global Fluorosilicic Acid Market Forecast:
The fluorosilicic acid market was estimated at USD 390.2 million in 2021 and is likely to grow at a CAGR of 7.98% during 2022-2028 to reach USD 669.35 million in 2028.
What is fluorosilicic acid?
Fluorosilicic acid is an organic compound and has a distinctive sour taste and pungent smell. It is manufactured as a co-product in the production of phosphate fertilizers.
Market Drivers
The growth of the fluorosilicic acid market is primarily driven by-
Increasing demand for water fluoridation,
Increasing demand for electroplating,
Increasing demand for oil well acidizing.
Some linchpins in the market are:
Solvay
Mosaic
Gelest
Sigma Aldrich
KC Industries.
Fluorosilicic Acid Market Segmentation:
The report segments based on demographics, geographics, benefits, and volume, etc, have different driving factors and identify the most-attractive segments and sub-segments. Fluorosilicic Acid Market segmentation will not only help marketers to be more efficient in terms of time, money, and other resources but also allows companies to learn about their target audience so that they can tailor campaigns and increase market share and revenue.
Based on the grade type, the market is segmented as 40% grade, 35% grade, and 25% grade. 35% grade is projected to be the largest segment of the market during the forecast period. It is majorly used as a wood preservation agent and as an herbicidal agent.
Based on the application type, the market is segmented as water fluoridation, textile processing, metal surface treatment, hydrogen fluoride, aluminum fluoride, silicofluorides, electroplating, hide processing, oil well acidizing, and others. Water fluoridation is estimated to be the dominant segment of the market during the forecast period. Fluorosilicic acid is used in public water treatment plants for lessening dental caries by regulating the fluoride content of the water.
In terms of regions, Asia-Pacific is estimated to be the fastest-growing market led by China, Japan, India, and South Korea. Changing consumption patterns, increasing population, rapid urbanization, significant economic development, and growing per capita income are the major factors impacting the growth of the market. Europe and North America are also expected to offer substantial growth opportunities during the forecast period.
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Stratview Research
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