By 2022, the potassium fluoborate market is expected to be worth US$ 296.7 million. Potassium fluoborate sales are predicted to grow at a 4.0% CAGR and reach US$ 439.2 million by 2032. Potassium fluoborate is widely used in aluminium metallurgy and is also utilised in soldering agents and abrasives.
According to the latest research, the demand for Potassium Fluoborate is anticipated to grow with a compelling growth rate of about 3.0% to 5.0% in between the coming assessment period of 2021-2031. Its molecular formula is KBF4. It is also known as Potassium tetrafluoborate, Potassium borofluoride. In Aluminium metallurgy, potassium fluoroborate (KBF4) is used to make abrasives, soldering agents, and ceramics.
The widespread use of potassium fluoroborate in a variety of applications across a wide range of sectors drives the worldwide potassium fluoroborate market. Potassium fluoroborate is water soluble and can be utilized in a variety of oxygen-sensitive situations, such as metal manufacturing. It’s also used in extremely low concentrations in a variety of health applications.
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What is Driving Demand for Potassium Fluoborate?
One of the primary factors driving the growth of the potassium fluoroborate market is the rise in demand for abrasives around the world. The rise in demand for metal processing in the automotive and industrial sectors, as well as its use as an addition in the production of Aluminium boron alloy, is propelling the industry forward.
The market is influenced by the increase in demand for abrasives due to their high demand in polishing applications for end use sectors such as electronic and electrical equipment, automotive, and machinery, among others.
Automotive Sector and Growing Demand of Abrasives Boost Potassium Fluoborate Sales
The market is boosting due to the use of abrasives in various industries. Rising metal processing and machining demand in the automotive and industrial sectors is expected to fuel potassium fluoroborate market growth. It is commonly used as an addition in the production of Aluminium boron alloys.
The potassium fluoborate market revenue may be driven by rising demand for abrasives due to its high demand in polishing and grinding applications for end use sectors such as automotive and metal fabrication.
APAC Potassium Fluoborate Market Outlook
The investment in metal industries is owning its demand and boosting the growth of Potassium Fluoborate market in different application such as electric, automotive, construction and machinery industries. Because of its rapidly rising population, Asia-Pacific is expected to have higher demand in the forecast year.
The region has been urbanized to a greater extent as a result of gains in GDP per capita and infrastructure development, transforming rural areas into urban areas. Potassium fluoborate is in high demand in Asia-Pacific for Aluminium metallurgy, which is used to make aircraft and automobile parts.
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Who are the Key Manufacturers and Suppliers of Potassium Fluoborate?
Some of the leading manufacturers and suppliers include
- Morita Chemical Industries,
- Harshil Industries,
- American Elements,
- Solvay S.A,
- Honeywell Fin Chemicals,
- Hunan Merits New Materials Co. Ltd.,
- Derivados Del Flúor (DDF),
- AMG Aluminum,
- Madras Fluorine Ltd.,
- Stella Chemifa Corporation,
Potassium Fluoborate Market Segmentation
By Purity Types:
- Less than 99% Purity
- 99% & above purity
By Type:
- Technical Grade
- Reagent Grade
By Application:
- Soldering Agent
- Metal Processing
- Abrasives
- Fluxing Agent
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Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
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