5 trends bolstering potassium tetrafluoroborate market outlook

9:03 AM, 6th February 2021
Potassium tetrafluoroborate is extensively used as a filler in the production of resin-bonded abrasives. It also finds use as an additive and a welding agent in metallurgy and alloying applications

Potassium tetrafluoroborate is extensively used as a filler in the production of resin-bonded abrasives. It also finds use as an additive and a welding agent in metallurgy and alloying applications. Other notable applications include extraction, refining, and processing of metals in the chemical sector. In numerous industrial applications, potassium tetrafluoroborate is used as a fluxing, brazing, and soldering agent.

As per a research report compiled by Global Market Insights Inc, global potassium tetrafluoroborate market size is projected to reach an annual valuation of more than US$340 million by 2025. Some key factors augmenting the demand for the compound are explained below.

  • Growing demand for industrial catalysts

Potassium tetrafluoroborate is experiencing a robust demand across the chemical sector for the production of boron trifluoride and other substances that are used in pharmaceutical, petrochemical, and agrochemical sectors. It is widely used as a catalyst in the production of these chemicals, with wide-ranging applications in chemical testing and electrochemical engineering. The need for high-quality catalysts will certainly fuel potassium tetrafluoroborate consumption in the upcoming years.

  • Extensive application in abrasives

The demand for potassium tetrafluoroborate in abrasives application is likely to surge rapidly over the next few years. It is used as a filler in the manufacturing of abrasives used in thermosetting resin grinding wheels. Abrasives are anticipated to witness a substantial demand across metal fabrication, automotive, electronics, and machinery applications in the near future. Abrasive materials are used for casting of metals including aluminum and magnesium. Growing automotive production, especially in developed countries will positively impact potassium tetrafluoroborate industry trends.

  • Robust demand for 98 percent purity compound

In terms of the purity, potassium tetrafluoroborate can be classified into 98 percent purity and 99 percent purity. 98 percent potassium tetrafluoroborate industry size is estimated to exceed an annual valuation of more than US$225 million by 2025. The demand for 98 percent potassium tetrafluoroborate can be associated with its widespread use in aerospace, automotive, construction, and electronics sectors, where it is preferred on account of its light weight. It is also used as raw material in the production of aluminum, boron, and titanium alloys.

  • Expanding automotive sector in Europe

Europe potassium tetrafluoroborate industry size, led by Germany, France, Italy, and UK, is estimated to be worth more than US$65 million by 2025. The regional growth can be mainly attributed to growing consumer demand for lightweight passenger vehicles. Wide use of aluminum and other metals and alloys in the auto industry will augment the product demand, as potassium tetrafluoroborate is used aluminum metallurgy for the fabrication of lightweight automotive parts and components that make vehicles more fuel-efficient.

  • Demand for abrasives in North America

North America potassium tetrafluoroborate market size, led by the US and Canada, is projected to witness a CAGR of 3.5 percent through 2025. The regional consumption of potassium tetrafluoroborate will be primarily driven by its extensive application in abrasives which are used in metal fabrication equipment. The use of potassium tetrafluoroborate in abrasives enables them to provide additional resistance to fabrication tools and machine parts. The presence of several notable automakers in the region will undeniably foster the regional growth.

Some key growth restraints and future scope

The availability of numerous alternatives in the market is expected to limit the consumption of potassium tetrafluoroborate to some extent. However, a positive application outlook in metal processing sector and other industries as an abrasive, fluxing agent, and a soldering agent will bolster potassium tetrafluoroborate market forecast in the near future.

American Elements, Honeywell Fine Chemicals, Solvay, SB Chemicals, Coronet Industries Inc, Hunan Merits New Material Co Ltd and Morita Chemical Industries are some of the notable names in global potassium tetrafluoroborate industry.

Get detailed analysis on the Potassium Tetrafluoroborate Market: https://www.gminsights.com/request-sample/detail/4355

Contact Us:

Arun Hegde

Corporate Sales, USA

Global Market Insights Inc.

Phone: 1-302-846-7766

Toll Free: 1-888-689-0688

Email: sales@gminsights.com

Web: https://www.gminsights.com

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