The new report by Expert Market Research titled, ‘Global Chlorine Trifluoride Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the global chlorine trifluoride market, assessing the market based on its segments like forms, grades, end uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2025)
- Forecast CAGR (2021-2026): 4%
- Forecast Market Size (2025): USD 498 Billion
The major factors driving the chlorine trifluoride market are the rising demand for the chemical in the aerospace industry, growing innovations and development in the semiconductor industry, and the reinforcement of the military by the adoption of modern technologies and advanced weapons, among others. Chlorine trifluoride gas is often utilised as a component in fuel manufacturing, as well as in many other industrial applications, such as in etching and plasma-less cleaning activities. In the semiconductor industry, there is a high demand for the chemical because of its application in cleaning chemical vapour deposition chamber.
Industry Definition and Major Segments
Chlorine trifluoride is an interhalogen compound with the chemical formula CIF3. It is a colourless, corrosive, and highly reactive gas, which comprises of chlorine and atoms of fluorine.
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Based on form, the chlorine trifluoride industry can be segmented into:
The grades of chlorine trifluoride can be divided as:
- Electronic Grade
- Industrial Grade
On the basis of end-uses, the market can be categorised into:
- Semiconductor Industry
- Rocket Propellant
- Nuclear Power
On the basis of regional markets, the industry is divided into:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
Due to technological advancements as well as heavy investments expected in the field of research and development across this sector, the chlorine trifluoride market is anticipated to grow at a decent pace in the forecast period of 2021-2026. The rising innovations within the aerospace industry and the growing evolution of chlorine trifluoride applications within the rocket propellant sector are expected to further catalyse the market growth in the coming years. The robust manufacturing and chemical industries within the Asia Pacific region are also expected to provide the market players with lucrative growth opportunities in the coming years.
Key Market Players
The major players in the market are Air Products and Chemicals Inc. (NYSE: APD), Kanto Denka Kogyo Co. Ltd. (TYO: 4047), Linde AG (NYSE: LIN), and Advance Research Chemicals, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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