Trifluoroacetic Acid Market - Global Market Share, Trends, Analysis and Forecasts, 2023-2032
The global trifluoroacetic acid market size was estimated to be US$ 300 Million in 2022 and is expected to reach US$ 415 Million by 2032 at a CAGR of 3.3%.
Trifluoroacetic acid, also abbreviated as TFA, is a chemical compound of organofluorine with the chemical formula as CF3CO2H. Trifluoroacetic acid is a colourless fluid with a vinegar like pungent smell but relatively stronger in acidity. Invented in 1922, Trifluoroacetic acid has emerged as a very important chemical with very distinct characteristic.
Trifluoroacetic acid is widely used in several organic chemistry applications. In pesticide and pharmaceutical applications, trifluoroacetic acid is a widely used intermediate chemical. Hydrofluoric acid is one of the key raw materials used in production of TFA and therefore the price of raw hydrofluoric acid has a major impact on the overall growth of trifluoroacetic acid in the market.
Trifluoroacetic acid is mainly produced in North America, China, and India. Several Chinese chemical manufacturing companies have recently started TFA production. China took the lead in the global TFA market in 2017. China annually produces approximately 10900 metric tons of TFA. Increasing demand for TFA in pesticide intermediates is a key factor driving overall market growth. In addition, rising investments in enhancing agricultural outputs, particularly in developing economies, further drive demand for efficient pesticides, driving the global market for trifluoroacetic acid over the forecast period, growing at a CAGR of 5.0%.
The report focuses on leading players in the global trifluoroacetic acid market, providing information such as company profiles, product portfolio and specifications, capabilities, production, prices, revenues and contact information. Upstream and downstream demand analysis of raw materials and equipment would also be provided under the scope of study. Current market trends and marketing channels are also analysed for global trifluoroacetic acid market to understand market development trajectory. Finally, the evaluation of potential and new investments would also be provided under the study.
The global trifluoroacetic acid market is segmented on the basis of application, end use industry and geography. Based on application, the global trifluoroacetic acid market is segmented into rearrangements, solvents, oxidations, protecting group removal, condensations and reductions. Based on end use industry, the global trifluoroacetic acid market is sub-segmented into agricultural, chemicals & pharmaceutical and others. Geographically, the global trifluoroacetic acid market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Major players operating in the global trifluoroacetic acid market include Sasol, Emery Oleochemicals, Thai Fatty Alcohol, BASF SE, Musin Mas, Kao Chem and P&G Chemicals among others.
Market Segmentation:
By Application
- rearrangements
- solvents
- oxidations
- protecting group removal
- condensations
- reductions
By End use industry
- agricultural
- chemicals & pharmaceutical
- others
By Geography
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
