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.
In addition, the potassium fluoroborate market benefits from the expansion of end-use industries, rapid urbanization and industrialization, research and development activities, and high investments. The demand for various chemical such as boron trifluoride in the market has increase as chemical, agrochemical, petrochemical, and pharmaceutical.
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.
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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.
US and Canada Demand Outlook for Potassium Fluoborate
North America, led by the United States, Mexico, and Canada, will dominate the worldwide potassium fluoborate market. The increasing demand for abrasives in numerous machinery units, which supply advanced precision tooling and machine parts, has shaped the region’s expansion. As a result, the worldwide potassium fluoborate market is expected to develop in the near future due to rising demand for abrasives.
Europe market is led by Italy, UK France, and Germany and is expected to witness significant growth during the forecast period. The market will expand due to automobiles sector. As aluminum metallurgy is used for fabrication of automobiles 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,
- Foshan Nanhai Fluoride Chemical Co. Ltd,
- S.B. Chemicals,
- Triveni Chemicals,
- Skyline Chemicals
With continued research and development, the producers are focusing on the launch of new product variants in pure form to expand their product portfolio. Furthermore, the industrial participants are working on increasing the manufacturing facilities for this product in order to increase the business line.
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