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Chlorine Trifluoride Market Competitive And Growth Analysis 2024 | Advance Research Chemicals Inc., Air Products and Chemicals Inc., Kanto Denka Kogyo Co Ltd
Chlorine Trifluoride Global Market Report 2024
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.
Market Overview -
Chlorine trifluoride refer to colorless gas or green liquid with a pungent odor used as a fluorinating agent. Chlorine trifluoride is used as an igniter and propellant in rockets, primarily in plasma-free cleaning and etching processes. It is formed by heating a mixture of fluorine and chlorine to around 280 °C in a nickel or copper vessel. It is also named ClF3, or CTF.
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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.
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.
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Key Segments -
The chlorine trifluoride market covered in this report is segmented -
1) By Grade: Electronic Grade, Industrial Grade
2) By Form: Gas, Liquid, Solid
3) By Application: Semiconductor Manufacturing, Nuclear Fuel Processing, Rocket Propellant Systems, Other Applications
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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