Growth in the market is driven by rising demand for abrasives from the metal processing & automotive industry. Abrasives find a major role in the automotive industry, as these are used for polishing, grinding, cutting & other functions. Potassium fluoborate is water insoluble source of potassium & is used in oxygen-sensitive applications.
According to Future Market Insights (FMI), demand for potassium fluoborate is estimated to reach US$ 439.2 Million by the end of 2032. The potassium fluoborate market is expected to grow at CAGR of 4.0% owing to consistent demand from end-use industries such as automotive, metal processing, oil & gas, and others.
Potassium fluoborate is employed in a variety of industries which demands different specifications such as purity. Nano-scale particles & with more than 99% purity are utilized in crucial applications. Also, these are utilized in the production of sodium fluoborate, and ammonium fluoborate, which are further used in agrochemicals. Hence, the market has a direct impact from the growth of these end-use industries.
“Growing consumption of potassium fluoborate coupled with increasing utilization of fluxing agents, soldering agents & abrasives in different end–use industries is expected to drive the market during the projected period,” said an analyst at FMI.
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Key Takeaways from Potassium Fluoborate Market Study
- Demand for potassium fluoborate is to witness a growth outlook of around 4.0% over the coming assessment period.
- Metal processing & abrasives is expected to remain key applications, accounting for more than 60% of the volume consumption.
- Abrasive is predicted to remain a key application segment and is expected to utilize potassium fluoborate at a rate of 4.9% over the forecast period.
- Adoption of new & advanced manufacturing technologies to produce a pure form of potassium fluoborate & expansion of production capacities are expected to remain the main key trends in the market.
Competitive Landscape in Potassium Fluoborate Market
The potassium fluoborate market is a consolidated market with the presence of some dominant key market players. These players are holding more than 50% of the market share. Some of the top manufacturers included in the research study are Solvay S.A., Morita Chemical Industries, Harshil Industries, Honeywell Fine Chemicals, AMG Aluminum, Madras Fluorine Ltd., Stella Chemifa Corporation, Triveni Chemicals, Skyline Chemicals, American Elements, PARTH INDUSTRIES, Foshan Nanhai Fluoride Chemical Co. Ltd., Derivados Del Flúor (DDF) and others are the some of the manufacturers of Potassium fluoborate profiled in the full version of the report.
Some of the notable key developments in recent years include increased production capacity and the introduction of new and improved manufacturing procedures.
Manufacturers are focusing on the launch of a new product line in purity form, as well as continued research and development to expand their product portfolio. Furthermore, industrial participants are focusing on developing manufacturing units to increase the core business.
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Potassium Fluoborate Market Segmentation
By Purity:
- Less than 99% Purity
- 99% & above purity
By Grade:
- Technical Grade
- Reagent Grade
By End-use:
- Soldering Agent
- Metal Processing
- Abrasives
- Fluxing Agent
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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