Global Fluoromethane Market Booming Segments; Investors Seeking Stunning Growth

The fluoromethane or fluorinated fluoride or methyl fluoride is a gas which is made up of fluorine, carbon, and hydrogen that is used in manufacturing operations of semiconductors in the form of an etching agent. Generally, the fluoromethane is stored in lead containers or glass bottles. Each molecule of fluoromethane has a strong dipole force and the compound of this gas is flammable. The fluoromethane gas is widely used in chemical, biological, and industrial sectors owing to its chemical properties. It is denoted by chemical formula CH3F. Apart from its flammable nature, the fluoromethane gas is colorless in nature and has higher density than air.

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Drivers

Increasing demand of semiconductors due to rise in usage of mobile phones, telecommunication devices and other electronic equipment, is expected to boost growth of global fluoromethane market during the forecast period. According to India Brand Equity Foundation (IBEF), the semiconductor design market has increased almost 30% in 2020 since last five years.

Increasing investments in gas and petroleum sector is expected to propel growth of the global fluoromethane market over the forecast period. In July 05, 2019, the Indian Union Budget of FY 2019 had enabled the state governments to partner with local key players such as Hindustan Petroleum, Bharat Petroleum to invest around US$ 20 billion to expand the refineries by 2022.

Restraints

Longer exposure to fluoromethane gas can be harmful to the working staff present in the plant. This factor is expected to restrain growth of the global fluoromethane market over the forecast period.

As the compound of fluoromethane gas is flammable in nature, improper handling of the gas can put the operating plant on risk. This factor is expected to restrain growth of the global fluoromethane market over the forecast period.

The high concentration of toxins present in fluoromethane can cause cancer, due to which this gas was banned in U.S. in late 1980s. This factor is expected to restrain growth of the global fluoromethane market over the forecast period.

Opportunities

International summits held to optimize the usage of hazardous chemicals and gases, and the approval of new policies regarding the chemical waste and its impact of workers, is expected to create a new opportunities in the global fluoromethane market during the forecast period.

Regional Insights

Asia Pacific is expected to witness a significant growth during the forecast period in the global fluoromethane market. Rising inflow of Foreign Direct Investments (FDI) in petroleum and gas production in countries such as India is driving the growth of fluoromethane market in this region.

North America is expected to experience a robust growth over the forecast period of global fluoromethane market. Increasing exports of Liquefied Natural Gas (LNG) and availability of ample gas resources is driving the growth of fluoromethane market in this region.

Competitive Section

The major players contributing in the global fluoromethane market are Air Products and Chemicals, Inc., Linde, Air Liquide, Sun Nissan Co., Ltd., SK Materials, Yuji Tech, Huate Gas Co., Ltd, Cangmu New Material Co., Ltd., Central Glass, and Mitsui Chemical.

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Key Developments

In February 2021, the Indian medical and industrial gas manufacturing company, INOX Air Products announced to build 8 new air segregating units in India.

In February 2021, the French industrial gas producing company, Air Liquide announced to make new investments in its electronic units of China.

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