Potassium Tetrafluoroborate Market Growth Analysis | 2023-2028

Market Insights

The potassium tetrafluoroborate market was estimated at USD 229.2 million in 2022 and is likely to grow at a CAGR of 3.79% during 2023-2028 to reach USD 289.16 million in 2028.

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What is potassium tetrafluoroborate?

Potassium tetrafluoroborate is basically a water insoluble source of potassium, which is utilized in oxygen-sensitive applications, such as metal production.

Key Players

Some of the key players in the potassium tetrafluoroborate market are-

• Alfa Aesar
• American Elements
• Coronet Industries, Inc.
• Harshil Industries
• Honeywell Fine Chemicals
• Hunan Merits New Material Co., Ltd.
• Morita Chemical Industries
• Reewood International Limited
• S.B. Chemicals
• Solvay

Market Dynamics

Growing demand for metal processing and machining in automotive and industrial sectors and rising demand for abrasives in end-use industries are some of the major factors boosting the market growth over the forecast period.

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Segments Analysis

By Purity Type

The market is segmented as 98% purity and 99% purity. 98% purity type is estimated to witness significant growth in the market during the forecast period on account of growing demand for oxygen sensitive applications. On the other hand, 99% Purity is estimated to account for the major share of the market owing to rising demand for soldering applications in electronics during the forecast period.

Regional Analysis

North America is estimated to be the leading region in the market during the forecast period on account of increasing demand for abrasives in various machinery units with the U.S., Canada and Mexico being the major countries with lucrative growth opportunities in the regional market.

Similarly, Europe is estimated to witness significant growth in the market during the forecast period. Germany, France, the UK, and Italy are the major growth engines of the region with growing product demand owing to increasing usage of aluminum metal body in automotive industry. Moreover, Asia-Pacific is also estimated to account for a significant share of the market on account of increasing metal processing demand in various end-use industries during the forecast period.

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Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The potassium tetrafluoroborate market is segmented into the following categories:

By Purity Type:

• 98% Purity
• 99% Purity

By Application Type:

• Metal Processing
• Fluxing Agent
• Abrasives
• Soldering Agent
• Others

By Region:

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Report Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the purity types by application type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.