Market Trends of Fluorosilicic Acid Industry
This section covers the major market trends shaping the Fluorosilicic Acid Market according to our research experts:
Growing Demand for Fluorinating Agent in the Water Treatment Industry
Fluorosilicic acid is produced as a co-product while manufacturing phosphate fertilizers and from phosphate rock, which contains fluoride and silica, and is treated with sulfuric acid. It is a dry salt additive dissolved into a solution before being added to water.
Rising ground and surface water pollution boost the requirement of water treatment, which in turn, boosts the demand for fluorosilicic acid.
According to the United Nations Educational, Scientific, and Cultural Organization (UNESCO), global water consumption increased by around 6 times in the last 100 years, and the world is likely to face a 40% water deficit by 2030.
The Council on Energy, Environment & Water (CEEW), in association with the 2030 Water Resources Group, has been planning to improve wastewater management in India, along with increasing private investments to build wastewater treatment plants.
According to UNESCO, an investment of around USD 6.7 trillion is required during 2020-2030 to prevent water scarcity, and a significant amount of this expenditure is needed to be invested in water and wastewater treatment.
Hence, owing to the above-mentioned factors, the application of fluorosilicic acid from the water treatment industry is likely to dominate during the forecast period.
The Asia-Pacific Region is Expected to Dominate the Market
The Asia-Pacific region is expected to dominate the market for fluorosilicic acid during the forecast period. The rising demand for fluorosilicic acid from the water treatment plants and growing applications in the construction sector in developing countries like China, Japan, and India are expected to drive the demand for fluorosilicic acid in this region.
The largest producers of fluorosilicic acid are located in the Asia-Pacific region. Most of the manufacturing plants are located in China, Japan, and India.
The major population of China relies on groundwater sources for drinking water, which are either untreated or not properly treated by municipal water suppliers, which increases the need for water treatment.
According to China Statistical Yearbook 2020, China's gross production value of agriculture increased by 7% and stood at CNY 6.6 trillion in 2019 compared to CNY 6.15 trillion in 2018.
India is one of the largest exporters (in top 15) of agricultural products across the world. In FY 2020, the agricultural export in the country reached USD 35.09 billion from USD 38.54 billion in FY 2019.
Fluorosilicic acid is used in cement manufacturing to harden cement. The Indian government planned initiatives to develop 98 smart cities along with the initiatives such as PMAY to build around 20 million urban homes and 30 million rural houses by 2022, fueling the infrastructure and construction development.
Owing to the above-mentioned factors, the market for fluorosilicic acid in the Asia-Pacific region is projected to grow significantly during the study period.
