Trifluoroethanol Market: Overview
Trifluoroethanol is one of the key acrylic fluorine intermediates. It has unique physical and chemical properties and possesses special molecular structure, which differentiates it from other alcohols. It is produced by the hydrogenolysis of compounds. Trifluoroethanol is widely used in the pharmaceutical, agriculture, dye, energy, and organic synthesis applications. It is primarily used as a solvent in the chemical industry. It also serves as a source of the trifluoromethyl group for various chemical reactions. It is used as co-solvent in protein folding studies with NMR or nuclear magnetic resonance spectroscopy. Trifluoroethanol is a precursor for the inhaled anesthetic isoflurane, which is listed on the World Health Organization’s list of essential medicines. Trifluoroethanol is used as intermediate in chemical synthesis. It possesses unique physiochemical properties such as low boiling point and high melting point and polarity. Trifluoroethanol can make a strong hydrogen bond. It has more of an acid character than ethanol. Trifluorethanol oxidizes to trifluoroacetaldehyde or trifluoroacetic acid.
Trifluoroethanol Market: Key Segments
Based on application, the trifluoroethanol market can be segmented into pharmaceutical, agriculture, dye, energy, and organic synthesis. Trifluoroethanol is used as an intermediate in the synthesis of drugs in the pharmaceutical industry. Catalytic properties of trifluoroethanol is exploited in this. Chemicals used in the agricultural industry can be made by using trifluoroethanol. It employed as an intermediate, while manufacturing dyes. Several organic compounds can also be manufactured by using trifluoroethanol. It is also used in biochemistry applications for studying and characterizing enzymes. In this case, trifluoroethanol can be used as an inhibitor. Rising demand for trifluroethanol from chemical industry is a key factor driving the global trifluoroethanol market. The chemical industry has benefited significantly from China’s economic growth of the past two decades. Experimentation of new chemical fertilizers helps improve crop yield, in the agriculture industry. This, in turn, is projected to boost the demand for trifluoroethanol in the next few years. Advancements in the pharmaceutical industry and invention of new drugs are anticipated to fuel the demand for trifluorethanol. Demand for dyes is rising in the textile industry. Use of trifluoroethanol in dyes is likely to propel the demand for trifluroethanol across the globe.
Trifluoroethanol Market: Regional Outlook
In terms of region, the global trifluoroethanol market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The global market has expanded significantly in the past two decades. This trend is estimated to continue during the forecast period. Asia Pacific holds a significant share of the global market. Rise in population, growth in the pharmaceutical sector, technological advancements, and changes in lifestyle are projected to boost the market in Asia Pacific during the forecast period. Growth in the chemical industry in China and India is likely to create lucrative opportunities in the trifluoroethanol market in the region between 2018 and 2026. High demand for trifluoroethanol from the pharmaceutical sector in Europe is driving the market in the region. The market for trifluoroethanol in North America is driven by increase in the demand for these in the agro-chemical applications in the region. The trifluoroethanol market in Latin America and Middle East & Africa is estimated to expand at a significant pace during the forecast period owing to the recent economic growth in these regions. Growing demand for trifluoroethanol from textile and pharmaceutical industries is likely to fuel the demand for trifluoroethanol in Middle East & Africa.
Trifluoroethanol Market: Key Players
Key players operating in the global anhydrous borax market include Solvay, Tosoh Corporation, Halocarbon, and JEOL Ltd.
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