FLUOROSILICIC ACID MARKET - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2021 - 2027)

The fluorosilicic acid market is anticipated to register notable expansion by 2027 on account of the booming textile industry worldwide. In addition, surging demand for water treatment due to prevalent surface and groundwater contamination is set to drive market growth over the coming years.

Fluorosilicic acid is a colorless-to-pale liquid with a sharp unpleasant odor, which is primarily used in electroplating, water fluoridation, glass etching, animal hide tanning, and metal sterilization. Mounting demand for pH adjustment in industrial textile processing and laundries has propelled product demand in recent years.

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Furthermore, industry players are engaging in lucrative strategies to tap into emerging trends, thereby enhancing the global business landscape. For instance, in September 2021, Hawkins, Inc., a major provider of specialty chemicals and ingredients, completed the acquisition of Southeast Water Systems, LLC, a specialist in maintenance, sales, installation, and designing of water treatment equipment. The deal enabled Hawkins to expand its product portfolio with the integration of water treatment equipment.

Similarly, in April 2020, Mitsubishi Chemical Corporation, a leading chemicals company, announced the acquisition of Gelest Intermediate Holdings, Inc., a prominent chemical manufacturing company offering silicone, organosilanes, and metal-organic compounds, among others. Mitsubishi intended to bring Gelest's products and services to the market and facilitate the development of new customer solutions to drive advances in vision care, digital social infrastructure, and other life-sciences applications.

The fluorosilicic acid market has been segmented on the basis of application, grade, and region. With respect to application, the market has further been bifurcated into electroplating, textile processing, hide processing, aluminum fluoride, water fluoridation, oil well acidizing, hydrogen fluoride, silicofluorides, metal surface treatment, and others.

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The fluorosilicic acid market from the silicofluoride sub-segment is estimated to gain considerable traction, expanding at a CAGR of around 8.5% over the forecast period. The electroplating sub-segment is expected to showcase robust growth at a pace of over 8.5% CAGR through the assessment timeframe to reach a considerable valuation by the end of 2027.

The others sub-segment is likely to exhibit a sturdy growth trajectory, registering nearly 7% CAGR over the estimated timeframe. Other applications of fluorosilicic acid include cryolite, sodium fluoride, masonry & ceramics, oral care products, silicon tetrafluoride, and glass etching.

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