Global Nitrogen Trifluoride and Fluorine Gas Market Size, Share, Growth Analysis, By Type(Gas and Liquid), By Application(Electronics and Chemicals) - Industry Forecast 2024-2031

PUBLISHED: April 29, 2024

PAGES: 184 Pages

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Description

Global Nitrogen Trifluoride And Fluorine Gas Market size was valued at USD 3.7 billion in 2022 and is poised to grow from USD 3.8 billion in 2023 to USD 4.3 billion by 2031, growing at a CAGR of 1.60% during the forecast period (2024-2031).

The global electronics sector is experiencing rapid expansion driven by increasing consumer demand and commercial applications, with significant markets in the United States, Germany, Japan, the United Kingdom, and notably, China, which is expected to generate USD 0.3 billion in income by the end of 2023. China and the wider Asia Pacific region have witnessed heightened demand for various chemicals, such as nitrogen trifluoride and fluorine gas, used in electronics cleaning, as local product formulators and manufacturers become more prominent. Moreover, the market for electronic cleaners in North America and Europe is poised to grow due to heightened consumer spending on mobile devices, laptops, smart TVs, and automobile displays. These trends are projected to fuel increased demand for NF3 and F2 in these regions, though concerns about the toxicity of fluorinated gases may constrain industry growth in the future. Toxicity, defined as the potential to become poisonous in large quantities, alongside considerations of flammability, poses challenges to the expansion of this sector, as distinguishing between safe and toxic substances relies on factors such as dosage and repeated exposures.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Nitrogen Trifluoride And Fluorine Gas Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Nitrogen Trifluoride And Fluorine Gas Market Segmental Analysis

The Global Nitrogen Trifluoride and Fluorine Gas market is segmented by type, and application. Based on type, the market can be segmented into gas and liquid. Based on application, the market can be segmented into electronics, and chemicals. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Nitrogen Trifluoride And Fluorine Gas Market

One significant catalyst propelling growth in the Global Nitrogen Trifluoride and Fluorine Gas Market is the surging need for electronic gadgets. Nitrogen trifluoride finds extensive application in semiconductor fabrication, integral to the production of electronic essentials like smartphones, tablets, and laptops. As the worldwide populace burgeons alongside the escalating adoption of electronic devices, there's a parallel surge in semiconductor demand. Consequently, this uptick fuels the necessity for nitrogen trifluoride and fluorine gas, vital components in semiconductor manufacturing.

Restraints in the Global Nitrogen Trifluoride And Fluorine Gas Market

One of the primary challenges facing the Global Nitrogen Trifluoride and Fluorine Gas Market is the stringent regulatory landscape governing their utilization and disposal. Nitrogen trifluoride, known for its potent greenhouse effect surpassing carbon dioxide, is subject to strict emissions regulations enforced by environmental protection agencies globally. Likewise, the handling and disposal of fluorine gas demand meticulous attention due to its high toxicity, posing potential environmental and health risks if not managed carefully.

Market Trends of the Global Nitrogen Trifluoride And Fluorine Gas Market

A significant trend in the global market for nitrogen trifluoride and fluorine gas revolves around their surging necessity within the electronics sector. The escalating adoption of electronic gadgets like smartphones, laptops, and tablets is fueling the need for these gases, integral in the fabrication of semiconductors and other electronic parts. As the clamor for high-performance electronic devices intensifies, the demand for nitrogen trifluoride and fluorine gas is poised to persistently rise in the foreseeable future.

Product Code: SQMIG15A2124

Executive Summary

Market Overview
Wheel of Fortune

Research Methodology

Information Procurement
Secondary & Primary Data Sources
Market Size Estimation
Market Assumptions & Limitations

Parent Market Analysis

Market Overview
Market Size
Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges

Key Market Insights

Technology Analysis
Pricing Analysis
Supply Chain Analysis
Value Chain Analysis
Ecosystem of the Market
IP Analysis
Trade Analysis
Startup Analysis
Raw Material Analysis
Innovation Matrix
Pipeline Product Analysis
Macroeconomic Indicators
Top Investment Analysis
Key Success Factor
Degree of Competition

Market Dynamics & Outlook

Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges
Regulatory Landscape
Porters Analysis
- Competitive rivalry
- Threat of Substitute Products
- Bargaining Power of Buyers
- Threat of New Entrants
- Bargaining Power of Suppliers
Skyquest Special Insights on Future Disruptions
- Political Impact
- Economic Impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact

Global Nitrogen Trifluoride and Fluorine Gas Market by Type

Market Overview
Gas and Liquid

Global Nitrogen Trifluoride and Fluorine Gas Market by Application

Market Overview
Electronics and Chemicals

Global Nitrogen Trifluoride and Fluorine Gas Market Size by Region

Market Overview
North America
- USA
- Canada
Europe
- Germany
- Spain
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA

Competitive Landscape

Top 5 Player Comparison
Market Positioning of Key Players, 2023
Strategies Adopted by Key Market Players
Top Winning Strategies
- By Development
- By Company
- By Year
Recent Activities in the Market
Key Companies Market Share (%), 2023

Key Company Profiles

Air Products and Chemicals, Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Air Liquide S.A.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
The Linde Group
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Solvay SA
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Honeywell International Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Mitsui Chemicals, Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Praxair, Inc. (Linde plc)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Navin Fluorine International Ltd.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Stella Chemifa Corporation
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
American Gas Group
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Arkema SA
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Asahi Glass Co., Ltd.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Central Glass Co., Ltd.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Formosa Plastics Corporation
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Gulf Fluor LLC
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Kanto Denka Kogyo Co., Ltd.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Mexichem S.A.B. de C.V.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Pelchem SOC Ltd.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Royal Dutch Shell plc
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Ube Industries, Ltd.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
In March 2023, Daikin Industries announced the construction of a new fluorine plant in Japan, which is expected to start operations in 2025 and will support the increasing demand for fluorine in the electronics industry.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
In January 2022, Honeywell announced the completion of its acquisition of Fluorine Products business from Solvay, which is expected to expand its portfolio of advanced materials and technologies.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
In December 2021, Solvay announced the acquisition of Henkel's fluorine-based products business, which includes products such as refrigerants, solvents, and other fluorine-based specialties.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
In June 2021, Showa Denko K.K. announced plans to expand its production capacity for high-purity fluorine gas in Japan, with operations expected to start in 2022.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments