The report of Boron Trifluoride Market by Grade (Purified, High Purity) Application (Catalyst, Reagent), End use (Semiconductor Manufacturing, Chemical Manufacturing, Pharmaceuticals), and Region (North America, Asia Pacific, Europe, South America, and Middle East & Africa) is expected to reach US$ 356 Mn by 2027, at a CAGR of XX% during the forecast period.
The boron trifluoride market is mostly driven by the demand for boron trifluoride (BF3) as a catalyst in end-use industries, and growth in the chemical industry. Chemical is one of the key industries driving the global boron trifluoride market. As well as its use as a catalyst, BF3 is employed as a reagent for desulfurizing solvents, intermediates, and cracked petroleum distillates. It is also mostly employed as a p-type dopant in the manufacture of various semiconductor products. BF3 gas is employed in several end-use industries, including polymers & plastics, chemicals & petrochemicals, semiconductors & electronics, and pharmaceuticals. Chemicals & petrochemicals is a leading consumer of BF3. End-user industries, like chemicals, semiconductors, and pharmaceuticals are expected to grow at a steady pace in the future. This is expected to drive the boron trifluoride market during the forecast period.Boron trifluoride, mainly in the gaseous form, is considered to be a harmful, toxic, and very corrosive substance. Thus, there are several regulations about its manufacturing, transportation, labeling, exposure limit, labeling, and others.
Packaging and transportation of the gas are done under extremely high pressure and is a key challenge for manufacturers, distributors, and end-users as well. Also, for using boron trifluoride in the gaseous form, there must be a proper unloading facility at the consumers’ end, which is leading to many of the end-users using boron trifluoride in the complexes form. This factor is expected to hamper the global boron trifluoride market by the end of the forecast period.
Catalyst application segment to dominate global boron trifluoride market
In terms of application, the global boron trifluoride market has been divided into catalyst, reagent, and others. The catalyst segment is anticipated to dominate the market, as BF3 is a versatile catalyst in the production processes of various chemicals in end-use industries such as chemical, petrochemical, agrochemical, and pharmaceuticals. Furthermore, usage of BF3 as catalyst helps improve the efficiency and yield of the process, and enhance the quality of end-products. It also helps lower production costs. Therefore, it is highly preferred by end-users.
Asia Pacific to dominate boron trifluoride market
Region-wise, the boron trifluoride market in the Asia Pacific is expected to grow at a CAGR of XX% during the forecast period, because of the continuous demand for boron trifluoride in numerous end-use industries across the region. The region offers huge growth opportunities to the boron trifluoride market. China dominates the market in the region, thanks to the growth in end-user industries, mainly chemical and semiconductor industries, in the country. The chemical industry is the prominent consumer of boron trifluoride in the Asia Pacific.
The key players of the global Boron Trifluoride market are Honeywell International Inc. BASF SE, Stella Chemifa Corporation, Entegris Inc., Navin Fluorine International Ltd., Praxair Technology, Inc., RugaoZhongchang Chemical Co., Ltd., Honeywell International Inc., Hunan Heaven Materials Development Co., QingzhouChenkai Chemical Co., Ltd., ZIBO SHUANGLIAN PETROLEUM & CHEMICAL CO., Ltd., and Voltaix LLC.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Boron Trifluoride Market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Global Boron Trifluoride Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Boron Trifluoride Market positioning of competitors.
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