Global Potassium Tetrafluoroborate Market: Overview
The global potassium tetrafluoroborate market is expected to witness growth over the growing demand for machining and metal processing in various industrial sectors like automotive. Potassium tetrafluoroborate finds extensive use in the making of aluminum boron alloy. It is used as an additive. High boron concentration content aluminum is synthesized through reaction of the product itself. This process betters molten alloy’s fluidity, which drives the demand of the product.
Purity, application, and region are the three parameters based on which the global potassium tetrafluoroborate market has been segmented. In a bid to better comprehend the analysis of the global potassium tetrafluoroborate market, the segmentations have been done.
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Global Potassium Tetrafluoroborate Market: Notable Developments
The following development reveals the changing dynamics of the global potassium tetrafluoroborate market:
- In 2015, Massachusetts-based Thermo Fisher Scientific Inc. acquired Alfa Aesar. The latter is a leading maker of research chemicals. The inclusion of the products of Alfa Aesar including potassium tetrafluoroborate in the product portfolio of Thermo Fisher Scientific Inc. is likely to offer consumers an access to a wider range of products. On the other hand, chemicals of produced by Alfa Aesar including potassium tetrafluoroborate will have far wider reach across the globe.
Few leading market players of the global potassium tetrafluoroborate market are as mentioned below:
- American Elements
- Alfa Aesar
- Morita Chemical Industries
- AMG Aluminium
- Solvay S.A.
- Coronet industries
Global Potassium Tetrafluoroborate Market: Key Trends
The global potassium tetrafluoroborate market is likely to be impacted by the following opportunities, restrains, and drivers during the assessment timeframe.
Increased Demand for Abrasives in Various End-use Sectors Accentuates Demand
The global potassium tetrafluoroborate market is driven by its extensive use in various applications across many industries. Potassium tetrafluoroborate is soluble in water and can be used for use in various oxygen sensitive solutions like production of metal. It also finds use in various health applications in very low concentration forms. Synthetic organic chemistry make use of this chemical quite often.
Common use of fluoride compounds comprises applications that are used for the purpose of optical deposition and to alloy metal, which benefits the growth of the global potassium tetrafluoroborate market. Some of the fluoride compounds are made at the nanoscale level and that too in extremely high forms of purity. Such high quality products are capable of augmenting the optical quality. It also renders the product suitable for scientific standards.
Immediate availability of potassium tetrafluoroborate in any desired quantity is another factor that is likely to influence the growth of the global potassium tetrafluoroborate market.
Following the increased demand of abrasives in various grinding and polishing applications for industries like electronic & electrical equipment, metal fabrication, automotive, and machinery, the global potassium tetrafluoroborate market gathers momentum. Rapid expansion in the abrasives market is directly proportional to the growth of the potassium tetrafluoroborate market.
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Global Potassium Tetrafluoroborate Market: Geographical Analysis
Latin America, Asia-Pacific, Middle East and Africa, Europe, and North America are the major regions of the global potassium tetrafluoroborate market. Regional segmentations are expected to offer better comprehension of the numerous stimulators at play at regional levels of the market.
It is likely that North America driven by the U.S., Mexico, and Canada will account for a large chunk of the global potassium tetrafluoroborate market during the study period. The growth of the region is shaped by the increasing requirement for abrasives in many machinery units, which supplies advanced precision tooling and machine parts. As such, the growing demand for abrasives is likely to support growth of the global potassium tetrafluoroborate market in near future.
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