Boron Trifluoride Market – Snapshot
Boron trifluoride (BF3) is a compressed, non-flammable gas, which is primarily used as a catalyst in various chemical reactions in industries such as chemical, agrochemical, petrochemical, and pharmaceuticals. Major end-uses of boron trifluoride include chemical manufacturing and semiconductor manufacturing. It is also employed in the pharmaceuticals industry. Commercially, two grades of boron trifluoride are widely used: purified and high purity. The purified grade is primarily used in various applications in the chemical industry. High purity grade is majorly employed in applications in pharmaceuticals and semiconductor industries. The global boron trifluoride market is likely to expand at a steady pace in the near future, especially in Asia Pacific, owing to the growth in end-user industries.
BF3 gas is largely used as a catalyst in several chemical reactions such as polymerization of olefins, diolefins, vinyl ethers/esters, heterocyclic unsaturated organic compounds, unsaturated acids, and terpene derivatives; Friedel-Crafts reactions; isomerization of paraffins and unsaturated hydrocarbons; and cyclization reactions. BF3 catalysts are also employed in the alkylation of aromatic hydrocarbons and phenols with olefins and alcohols. They are also used in chemical synthesis of acetals and ketals, indoles, alpha-methoxymercurials, steroids and intermediates, and hydroxyl fatty acids. In the chemical reactions mentioned above, BF3 acts as a versatile catalyst, which helps improve the efficiency and yield of the process, and quality of end-products. It also lowers production costs. As a result, BF3 gas is employed in several end-use industries such as polymers & plastics, chemicals & petrochemicals, semiconductors & electronics, and pharmaceuticals. Chemicals & petrochemicals is the leading consumer of BF3. The usage of BF3 as a catalyst in the chemical industry has been rising. This is expected to propel the demand for BF3 in the near future.
Boron trifluoride is irritating to the skin, eyes, and mucous membranes. It also leads to chemical and thermal burns. These burns are caused by the formation of strong acids, such as fluoroboric acid, due to the reaction of BF3 with moisture. There are high chances of the occurrence of chemical and thermal burns if BF3 gas is released in the atmosphere under normal working conditions, as it is a strong Lewis acid with high affinity toward chemicals and atmospheric gases possessing electron pair donors. Furthermore, inhalation of BF3 gas is highly suffocating and irritating to the respiratory system. Prolonged exposure to the gas can lead to acute toxic effects. Thus, utmost care needs to be taken by workers involved in daily handling of the gas. In view of this, several government regulatory authorities have imposed restrictions on the usage and transport of BF3. The permissible exposure limit established by the U.S. Occupational Safety & Health Administration (OSHA) is 1 ppm (3 mg/m³), which has also been confirmed by the American Congress of Governmental Industrial Hygienists (ACGIH) as airborne Threshold Limit Value (TLV). Exposure to any level above this value is allowed only with proper respiratory and other protective equipment. Transportation of BF3 gas, especially vast quantities of the gas over long distances, is a tedious task. These factors are anticipated to hamper the boron trifluoride market in the near future.
The boron trifluoride market has been segmented based on grade, application, end-use, and region. Based on grade, the boron trifluoride market has been bifurcated into purified and high purity. In terms of revenue, the purified segment constituted major share of the market in 2017. In terms of application, the boron trifluoride market has been segregated into catalyst, reagent, and others. In terms of revenue, the catalyst segment held nearly 60% share of the market in 2017. Based on end-use, the boron trifluoride market has been divided into semiconductor manufacturing, chemical manufacturing, pharmaceuticals, and others. In terms of revenue, the chemical manufacturing segment accounted for a major share in 2017.
In terms of region, the boron trifluoride market has been classified into Europe, North America, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific dominated the boron trifluoride market in 2017. This trend is estimated to continue during the forecast period. The region is projected to create lucrative opportunities for the boron trifluoride market in the near future. China is likely to dominate the market in Asia Pacific, led by the expansion in end-user industries, particularly chemical and semiconductor industries, in the country. China is among the leading markets for chemicals as well as semiconductors. It tops the list of major chemical producing as well as exporting countries across the globe. Furthermore, the country is a prominent exporter of semiconductor devices across the globe. Expansion in the boron trifluoride market in Asia Pacific can also be ascribed to the high growth potential of the market in India, Japan, and ASEAN countries such as Malaysia and Singapore. The chemical manufacturing segment is the major consumer of boron trifluoride in Asia Pacific.
Boron trifluoride is a consolidated market; less number of producers operate in the market. Furthermore, these producers are more active at the regional level with localized production facilities. Key players operating in the boron trifluoride market include Honeywell International Inc. BASF SE, Stella Chemifa Corporation, Entegris Inc., and Navin Fluorine International Ltd.
Boron Trifluoride Market – Overview
This report analyzes and forecasts the market for boron trifluoride at the global and regional level. The market has been forecast based on revenue (US$ Mn) and volume (tons) from 2018 to 2026. The study includes drivers and restraints of the global boron trifluoride market. It also covers the impact of drivers and restraints on demand for boron trifluoride during the forecast period. The report also highlights opportunities in the boron trifluoride market at the global and regional level.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global boron trifluoride market. Porter’s Five Forces model for the boron trifluoride market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein applications are benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the global boron trifluoride market by segmenting it in terms of grade, application, end-use industry, and region. These segments have been analyzed based on present and future trends. Regional segmentation includes current and forecast demand for boron trifluoride in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also encompasses demand for individual application segments in all the regions.
The study includes profiles of major companies operating in the global boron trifluoride market. Major players in the boron trifluoride market include Honeywell International Inc. BASF SE, Stella Chemifa Corporation, Entegris Inc., and Navin Fluorine International Ltd. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments.
The boron trifluoride market is primarily driven by the increase in demand for boron trifluoride (BF3) as a catalyst in end-use industries and expansion in the chemical industry. Chemical is one of the major industries driving the global boron trifluoride market. Apart from its use as a catalyst, BF3 is employed as a reagent for desulfurizing solvents, intermediates, and cracked petroleum distillates. It is also largely employed as a p-type dopant in the manufacture of several 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 such as chemicals, semiconductors, and pharmaceuticals are anticipated to expand at a steady pace in the near future. This is likely to drive the boron trifluoride market during the forecast period. However, due to the toxicity of BF3 gas, several restrictions have been imposed on its use, handling, and transport. People handling the gas are required to wear protective gear where the gas emission is beyond permissible limit. Currently, end-users of BF3 gas are substituting it with BF3 complexes, which are good catalysts in different chemical reactions. They can substitute BF3 gas in almost all applications. Moreover, due to the availability of BF3 complexes in liquid or solid form, it is easy to handle and transport.
The report provides an estimated market size of the boron trifluoride market for 2017 and forecast for the next nine years. The global market size of boron trifluoride has been provided in terms of revenue and volume. Market numbers have been estimated based on key grade, application, end-use, and regional segments of the boron trifluoride market. Market size and forecast for each major segment have been provided in terms of global and regional/country markets.
Key Takeaways of Study
- Extensive analysis of the boron trifluoride market trends and shares from 2017 to 2026 to identify market opportunities and industry development
- Consumption of boron trifluoride by region and list of manufacturers
- Key factors responsible for upcoming opportunities for the boron trifluoride market at global, regional, and country level
- Comprehensive analysis with respect to investments, regulatory scenario, and price trend that are likely to impact the outlook and forecast of the global boron trifluoride market between 2018 and 2026
- Insights on market opportunities for various stakeholders in the value chain and detailed competition landscape for key players dominating the market to understand competition level
- Porters’ Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and analyze the strength and weakness to gain strategic position in the market
The global boron trifluoride market has been segmented as follows:
Global Boron Trifluoride Market, by Grade
- High Purity
Global Boron Trifluoride Market, by Application
Global Boron Trifluoride Market, by End-use
- Semiconductor Manufacturing
- Chemical Manufacturing
Global Boron Trifluoride Market, by Region
- North America
- Russia and CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa