According to a new report published by Transparency Market Research(TMR) titled “Boron Trifluoride Market – Global IndustryAnalysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”, the global boron trifluoride market is anticipated to expand at a CAGR of more than5.0% during forecast period. Expansion in the global boron trifluoride marketis primarily driven by the rise in usage of BF3 as catalyst and growth inend-use industries. The boron trifluoride market in Asia Pacific is anticipatedto expand at a CAGR of more than 5.0% during the forecast period owing to theconstant demand for boron trifluoride in various end-use industries across theregion, especially in China, Japan, and the ASEAN sub-region.
Growth in end-user industries to drive market
BF3 is one of the strongest Lewis acids available. It is employed ascatalyst and reagent in a wide range of end-user industries includingchemicals, pharmaceuticals, semiconductors & electronics, agrochemicals,polymers, and plastics. Led by its versatile nature, BF3 forms an integral partof several manufacturing processes in the industries mentioned above.Chemicals, pharmaceuticals, and semiconductors & electronics are some ofthe major consumers of BF3. These industries are poised to expand at asignificant pace in the near future. BF3 is widely used as catalyst for severalreactions such as polymerization, alkylation, and isomerization in thechemicals industry. The chemical industry has been expanding at a steady pace.Developing countries in Asia Pacific are expected to be highly lucrativemarkets for chemicals in the next few years. The semiconductors industryemploys BF3 as a p-type doping agent in the manufacture of varioussemiconductor devices. BF3 is also used in the production of displays ofelectronic products. Asia Pacific is likely to offer significant growthpotential to the semiconductors & electronics industry in the near future.BF3 is employed in the synthesis of various pharmaceuticals in thepharmaceuticals industry. The global pharmaceuticals industry has also beenwitnessing steady growth since the last few years. In terms of revenue, theglobal pharmaceuticals industry was valued at more than US$ 990 Bn in 2013 andreached around US$ 1,105 Bn in 2016.
Request Sample
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=46962
The global boron trifluoride market is expected to witness steadygrowth during the forecast period, owing to the expansion in end-userindustries.
High demand for BF3 in chemical industry to boostpurified grade segment
Based on grade, the boron trifluoride market has been bifurcated intopurified and high purity. The purified segment is anticipated to account formajor share of the market during the forecast period. Furthermore, the segmentis anticipated to create growth opportunities during the forecast period. Thiscan be ascribed to the expansion in the chemical industry. Purified grade BF3is also employed in other end-use industries such as pharmaceuticals andsemiconductors.
More Trending Reports
Catalyst application segment to dominate global boron trifluoride market
In terms of application, the global boron trifluoride market has beendivided into catalyst, reagent, and others. The catalyst segment is anticipatedto dominate the market, as BF3 is a versatile catalyst in the productionprocesses of various chemicals in end-use industries such as chemical,petrochemical, agrochemical, and pharmaceuticals. Furthermore, usage of BF3 ascatalyst helps improve the efficiency and yield of the process, and enhance thequality of end-products. It also helps lower production costs. Therefore, it ishighly preferred by end-users.
Request Covid19 analysis on thismarket
https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=46962
Chemical manufacturing and pharmaceuticalsanticipated to be major end-use segments
In terms of end-use, the boron trifluoride market has been divided intosemiconductor manufacturing, chemical manufacturing, pharmaceuticals, andothers. The chemical manufacturing segment dominated the global borontrifluoride market in 2017. This trend is estimated to continue during theforecast period. Growth in the chemical industry is projected to drive theboron trifluoride market in the near future. Furthermore, expansion inpharmaceuticals and semiconductor industries is likely to fuel the boron trifluoride market during the forecast period.
Asia Pacific to dominate boron trifluoride market
Based on region, the global boron trifluoride market has been split intoLatin America, North America, Asia Pacific, Europe, and Middle East &Africa. The boron trifluoride market in Asia Pacific is projected to expand ata CAGR of more than 5.0% during the forecast period due to the constant demandfor boron trifluoride in various end-use industries across the region. Theregion offers immense growth opportunities to the boron trifluoride market.China dominates the market in the region due to the expansion in end-userindustries, particularly chemical and semiconductor industries, in the country.The chemical industry is the prominent consumer of boron trifluoride in AsiaPacific.
Buy Now
https://www.transparencymarketresearch.com/checkout.php?rep_id=46962<ype=S
Consolidated market with less number of players
Boron trifluoride is a consolidated market; less number of producersoperate in the market. Furthermore, these producers are more active at theregional level with localized production facilities. Key players operating inthe boron trifluoride market include Honeywell International Inc. BASF SE,Stella Chemifa Corporation, Entegris Inc., and Navin Fluorine InternationalLtd.
AboutUs
TransparencyMarket Research (TMR) is a global market intelligence company providingbusiness information reports and services. The company’s exclusive blend ofquantitative forecasting and trend analysis provides forward-looking insightsfor decision makers. TMR’s experienced team of analysts, researchers, andconsultants use proprietary data sources and various tools and techniques togather and analyze information.
TMR’sdata repository is continuously updated and revised by a team of researchexperts so that it always reflects the latest trends and information. Withextensive research and analysis capabilities, TMR employs rigorous primary andsecondary research techniques to develop distinctive data sets and researchmaterial for business reports.
Contact
Mr.Nachiket Ghumare
90State Street, Suite 700
Albany,NY 12207
Tel:+1-518-618-1030
USA- Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com/
