Trifluoroacetic Acid (TFA) is expected to grow at a CAGR of roughly 3.0% over the next five years, will reach 310 million US$ in 2023.
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Trifluoroacetic acid is an intermediate widely used in medicines and pesticides. One of the raw materials is hydrofluoric acid. Therefore, the price of hydrofluoric acid has a significant impact on the price of trifluoroacetic acid. Equipment used in the factory must also be protected against fluorine.
Trifluoroacetic acid is mainly produced in China, North America, Europe and India. Chinese companies have recently started producing trifluoroacetic acid. In 2016 China was a leading region producing 10,882 tons of trifluoroacetic acid. Europe is the second largest production area with a production capacity of 8041 tons.
The global production of trifluoroacetic acid in 2012 was approximately 20,959 tons. 2017 will be around 26,172 tons. In the past five years, the average growth rate has been about 4.54%. China's production will rise from 8,178 tons in 2012 to 11,889 tons in 2017.
The production of trifluoroacetic acid will continue to grow in the coming years. We speculate that the global production of trifluoroacetic acid will increase to 33,958 tons in 2023.