The boron trifluoride market is estimated to observe considerable growth during the forecast period of 2018-2026. The rising application outreach of boron trifluoride will invite profitable growth. Prominent end-users industries of boron trifluoride market are pharmaceuticals, semiconductor manufacturing, chemical manufacturing, and others.
The utilization of boron trifluoride as a catalyst in numerous chemical reactions will serve as a prominent growth contributor. Further, it is also used in the alkylation of phenols and aromatic hydrocarbons with alcohols and olefins. All these factors bode well for the growth of boron trifluoride market.
Boron trifluoride is a non-flammable compressed gas used as a co-catalyst or acidic catalyst in a wide range of organic synthesis reactions. The chemical formula for boron trifluoride is BF3. It is colorless. Two prominent types of grades of boron trifluoride, purity and high purity are used in different applications. High purity grade is utilized prominently in the semiconductor and pharmaceuticals industry while purified grade is used in the chemical industry. The chemical industry accounted a major share in terms of revenue generation in 2017.
Research and development activities form a vital part of the boron trifluoride market growth structure. The activities help discover new formulations that expand the end-user industry base of the boron trifluoride market. The activities help generate revenues, eventually contributing to the growth cycle. Strategic collaborations are also an important part of the boron trifluoride market. These collaborations boost the influence of boron trifluoride market players across the competitive arena.
The boron trifluoride market is largely consolidated. A small chunk of the players are responsible for a large share of growth. High regional presence with production facilities at a local level and more focus on the regional level are some characteristics displayed by the players across boron trifluoride market.
Transparency Market Research’s (TMR’s) report on the boron trifluoride market has every component that will assist the stakeholder in understanding the current scenario. The overall market research survey on boron trifluoride by TMR suggests a stable growth period.
According to the TMR experts, the market for boron trifluoride is prognosticated to expand at 5 percent CAGR during the forecast period of 2018-2026. In the context of valuation, the boron trifluoride market is estimated to reach US$ 343 mn by 2026.
Expansive Use of Boron Trifluoride across Chemical Industry to Invite Promising Growth
The properties of boron trifluoride will assure considerable demand across the chemical industry. Being one of the strongest Lewis acids, the catalytic properties of boron trifluoride can be used for polymerization of epoxy and phenolic resins, alkylation of aromatic hydrocarbons, and others. In addition, it also reacts promptly with synthetic compounds comprising nitrogen, oxygen, sulfur, and other electron-pair givers. These advantages help in increasing the demand for boron trifluoride across the chemical industry.
China to Invite Considerable Growth for Boron Trifluoride Market
Asia Pacific captured a large growth share of the boron trifluoride market in 2017 and is expected to continue the same during the forecast period of 2018-2026. Among all the regions in Asia Pacific, China is expected to generate massive growth for the boron trifluoride market due to the presence of a large number of end-user industries associated with boron trifluoride. The semiconductor and chemical industry in China is vast. As boron trifluoride is used as a major component across these industries, China will bring exponential growth for the boron trifluoride market. India, Malaysia, Japan, and Singapore will also bring immense growth for Asia Pacific’s boron trifluoride market.
Some key players in the boron trifluoride market are Navin Fluorine International Ltd., Stella Chemifa Corporation, and Honeywell International Inc.
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
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of MEA
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