Press release
Chlorine Trifluoride Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region | Advance Research Chemicals Inc., Air Products and Chemicals Inc., Kanto Denka Kogyo Co Ltd., Linde plc
Chlorine Trifluoride Market Size
The Business Research Company offers in-depth market insights through Chlorine Trifluoride Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The chlorine trifluoride market size has grown strongly in recent years. It will grow from $62.68 billion in 2023 to $67.88 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to increased semiconductor manufacturing, increased chemical synthesis, increased material processing, growth of the aerospace industry, increased research and development.
The chlorine trifluoride market size is expected to see strong growth in the next few years. It will grow to $94.36 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to increasing electronics and microelectronics manufacturing, increasing energy storage technologies, growing green chemistry initiatives, growing sustainable and safe handling practices, increasing research in advanced battery technologies. Major trends in the forecast period include advanced material development, innovative nanotechnology applications, technological advancements, innovative solutions, strategic collaborations.
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Market Segmentation:
The main types of grades of chlorine trifluoride are electronic grade and industrial grade. The electronic grade refers to chemicals used in the electronic industry, particularly in the fabrication of semiconductors and microprocessors. The chlorine trifluoride comes in gas, liquid, and solid forms that are applied in semiconductor manufacturing, nuclear fuel processing, rocket propellant systems, and other applications.
Major Driver - The Growth Of Semiconductor Industry Expected To Drive The Chlorine Trifluoride Market
The growth of the semiconductor industry is expected to drive the chlorine trifluoride market. Chlorine trifluoride (ClF3) is used in the semiconductor industry for cleaning and etching silicon wafers due to its highly reactive and selective nature, helping to create precise microstructures and remove unwanted materials. For instance, in April 2022, according to the worldwide semiconductor association, global semiconductor industry sales were $50.9 billion in April 2022, an increase of 21.1% over April 2021. Additionally, according to an International Energy Agency report, In 2021, global nuclear power generation increased by 3.5% over 2020. Therefore, growth of the semiconductor industry is expected to boost demand for chlorine trifluoride during the forecast period.
Competitive Landscape:
Major companies operating in the chlorine trifluoride market include Advance Research Chemicals Inc., Air Products and Chemicals Inc., Kanto Denka Kogyo Co Ltd., Linde plc, Mott Corporation, Praxair Technology Inc., Air Liquide SA, Versum Materials Inc., Showa Denko Materials Co Ltd., Matheson Tri-Gas Inc., Gujarat Fluorochemicals Ltd., Parad Corporation, Merck KGaA, Iwatani Corporation, Awishkar Chemical Industries, Taiyo Nippon Sanso Corporation, DOD Technologies Inc., Central Glass Co Ltd., Linde AG, Air Products and Chemicals Inc., AgroLiquid, Agrium Advanced Technologies Inc., Mott Corporation, Fertiberia Sociedad Anonima, Haifa Chemicals Ltd.
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Top Trend - Growth In The Aerospace Industry Boosts The Chlorine Trifluoride Market
The growing aerospace industry is expected to propel the growth of the chlorine trifluoride market. The aerospace industry is a sector that deals with vehicular flight within and beyond Earth's atmosphere and encompasses research, development, design, manufacturing, operation, and maintenance of both aircraft and spacecraft. Chlorine trifluoride (ClF3) is used in the aerospace industry as a powerful oxidizer and propellant component due to its ability to ignite and sustain combustion in the absence of oxygen, making it valuable for rocket propulsion systems and spacecraft applications. For instance, in January 2023, according to Airbus SE, a Netherlands-based aerospace corporation, the company delivered 661 commercial aircraft to 84 customers in 2022, representing an increase of 8% from the 611 units sold in 2021. Therefore, the growing aerospace industry is driving the growth of the chlorine trifluoride market.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Chlorine Trifluoride Market Characteristics
3. Chlorine Trifluoride Market Trends And Strategies
4. Chlorine Trifluoride Market - Macro Economic Scenario
5. Chlorine Trifluoride Market Size And Growth
…..
27. Chlorine Trifluoride Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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