Potassium Fluoroborate Market
Segmentation by Type (Technical Grade, and Reagent Grade); and by Application (Soldering Agent, Abrasive, Metal Processing, Fluxing Agent, and Others) – Global Demand Analysis & Opportunity Outlook 2031
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Segmentation by Type (Technical Grade, and Reagent Grade); and by Application (Soldering Agent, Abrasive, Metal Processing, Fluxing Agent, and Others) – Global Demand Analysis & Opportunity Outlook 2031
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On the basis of geographical analysis, the global potassium fluoroborate market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Europe region is estimated to witness noteworthy growth over the forecast period on the back of increasing mining activities in the region, along with the growing chemical industry in the region. A report by the Eurostat stated that the export of chemicals surged to USD 504.83 billion in 2020, from USD 323.49 billion in 2010 in Europe.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the presence of major market players, along with the growing automotive sector in the region.
The global potassium fluoroborate market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favourable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labour as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
Our in-depth analysis of the global potassium fluoroborate market includes the following segments:
By Type
By Application
Growth Drivers
Challenges
November 05, 2021: 3M to launch a new abrasive, 3M Xtract Cubitro II 710W Net Abrasive Disc, which removes up to 97% of dust particles as it sands metal, wood and composite surfaces.
January 23, 2017: Thermo Fisher Scientific acquired Affymetrix, under the name Alfa.com website, and Alfa Aesar Biochemicals can be found under the Life Science section.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: The growing application of potassium fluoroborate as an abrasive is estimated to boost the market growth.
Ans: The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2022 – 2031.
Ans: Rising competition from cheaper abrasive alternative is estimated to hamper the market growth.
Ans: The Europe region is anticipated to provide more business opportunities over the forecast period owing to the growing chemical industry in the region.
Ans: The major players in the market are American Elements, BASF SE, Morita Chemical Industries Co. Ltd., AMG Aluminium, Coronet Industries Incorporated, Strem Chemicals, Inc., CeramTec GmbH, and Toray Industries, Inc.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by type, application, and by region.
Ans: The abrasive segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
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