Superacids Market Size, Share & Industry Analysis, By Types (Fluoroantimonic acid, Magic acid, Carborane acids, Fluoroboric acid , Fluorosulfuric acid, Hydrofluoric acid), By End-Use Industry (Pharmaceutical industry, Agricultural industry, Others) And Regional Forecast, 2024-2032
KEY INDUSTRY INSIGHTS
Superacids are acids with strength greater than 100 percent pure sulfuric acid. Superacids are thick, corrosive and viscous. Superacids have been used to react with hydrocarbons in hydrocarbon cracking, which is critical for increasing the octane levels of gasoline. Super acids include chlorosulfuric acid, magic acid, trifluoroacetic acid, fluorosulfuric acid, carborane acid, and fluoroantimonic acid. The most powerful superacid is fluoroantimonic acid, HSbF6, which is prepared by mixing hydrogen fluoride (HF) and antimony pentafluoride. Fluoroantimonic acid has been used to polymerize organic compounds irrespective of their solvent in chemical engineering.
The primary driver of the market is the use of super acids in pharmaceuticals and the medical industries. Super acids are most commonly used in organic synthesis due to their low cost, high acidity, ease of eradication, and good solubility in water and organic solvents, making them an ideal catalyst for a wide range of reactions. Growing pharmaceuticals industry globally is expected to boost the super acids market. However, issues related to super acid storage and preservation with transportation limitations are impeding market growth.
Key Market Driver -
Increasing demand from pharmaceutical industries is driving the market.
Key Market Restraint -
Difficulties in storage and transportation have restricted the market growth.
Market Segmentation:
The market for superacids can be segmented on the basis of type, end-use industry, and region. The market is subdivided on the basis of types into fluoroantimonic acid, magic acid, carborane acids, fluoroboric acid, fluorosulfuric acid hydrofluoric acid. In terms of end-use industry, the market can be segmented into pharmaceutical industry, agricultural industry and others. From a geographical standpoint, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Key Players Covered:
The global & regional players operating in superacids market includes Solvay, SRF Limited, TCI Chemicals, Shandong Xingfu New Material Co., Ltd., Nantong Baokai Chemical Co., Ltd., Halocarbon Products Corporation, and others.
Key Insights
- New Advancements in Production Technologies
- Key Trends in the superacids market
- New Product Launches, Expansions, Key Players
- Ranking of Key Players in the Market
Regional Analysis:
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North America is the largest superacid market, followed by Europe. This is due to the growing pharmaceutical industry and the use of super acids in the production of oleum for explosives. In Europe, the market is being driven by rising demand from the chemical industries owing to the properties such as thermal & chemical stability. Asia Pacific, secures a decent share due to strong demand for cookware and high production of the nonstick coating commonly found on cookware. The Gulf Cooperation Council (GCC) countries continue to contribute to the market. Growth of pharmaceuticals production in the region is projected to increase demand for super acids. Latin America is experiencing slow growth as a result of slow growth of end-use industries.
Segmentation
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By End-Use Industry |
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- Ongoing
- 2023
- 2019-2022
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