The global nitrogen trifluoride market was valued US$ 1.32 Bn in 2019 and is expected to reach 2.40 Bn by 2027, at a CAGR of 7.75% during the forecast period.
Global Nitrogen Trifluoride Market Definition:
Nitrogen trifluoride NF₃ is a colourless inorganic compound, non-flammable with a slightly musty odour. Increasing use as an etchant in microelectronics. Nitrogen trifluoride is an extremely strong greenhouse gas, slightly soluble in water. Nitrogen trifluoride is utilised in the making of other chemicals and as a component of rocket fuels.
The report study has analyzed the revenue impact of COVID-19 pandemic on the sales revenue of market leaders, market followers, and disrupters in the report, and the same is reflected in our analysis.
Global Nitrogen Trifluoride Market Dynamics:
Nitrogen Trifluoride has widerspread application in the manufacturing of semiconductors since, manufacturing processes use high GWP fluorinated compounds, nitrogen trifluoride (NF3) have widening utilisation promoting the development of significantly more complex and faster processing semiconductors, which will raise the demand of nitrogen trifluoride thus driving the growth of the market during the forecasted period. On the other hand, demand from other appliances such as smartphones, computers, medical diagnostic equipment, supercomputers, and consumer electronics products have a major application that contains various semiconductors that will show a major impact on the electronic special gas market.
Another growing factor for the 〖NF〗_3 includes safety, reliability, highest quality, advantages of the relative ease of use at ambient conditions along with the ability to act as a fluorinating agent is widely accepted over other electronic special gases. Owing to its advantages such as high etch rates, carbon-free etching, high selectivity, and minimal residual contamination, has gained commercial acceptance in the electronics industry; the vendors are attracted to invest in the market and is expected to show a positive impact on global nitrogen trifluoride market. Additionally, 〖NF〗_3 is used as an intermediate in the production of specialized chemicals, fluorinating agents, and as a gas in the lamp which is predicted to impel the nitrogen trifluoride market.
However, the presence of alternative substitutes in the market such as fluorine is expected to negatively influence the nitrogen trifluoride market growth.
Global Nitrogen Trifluoride Market Segment analysis:
By the Application segment, the semiconductor chip sub-segment is expected to dominate the nitrogen trifluoride market during the forecast years. Available large supply chain and growth in electronics engineering will require a high amount of nitrogen trifluoride, which is expected to help the market growth. Another use of semiconductor chip is estimated to driven by increasing the use of 〖NF〗_3 as a greener alternative to clean silicon wafers. Nitrogen trifluoride is largely used to clean the manufacturing chamber of silicon chips in the semiconductor industry. Owing to their unique properties and commercially availability of nitrogen trifluoride that offer efficient and safe operations will simultaneously help vendors to expand their business globally. Owing to the increasing manufacturer demand, virtually, 45% of the market is acquired by the semiconductor chip segment.
Global Nitrogen Trifluoride Market Regional Analysis:
Regionally, Asia Pacific is expected to dominate the nitrogen trifluoride market with an expected growth at a CAGR of 46 % during the forecast period. Advancement in machinery in the Asia Pacific region is boosting the market growth, especially India and China, South Korea, Japan has documented as a major contributor as constant growth in the electronics industries in the region is very high thus, helping in the market growth. Cleaning of silicon residues from process chambers improves cell efficiency by controlling critical impurities along with the product performance which is projected to accelerate the gas demand in the region. In the year 2019, approximately 40% of the market is acquired by the Asia Pacific region and expected to grow constantly in the future.
Secondly, North America and Europe region expected to help this market to grow owing to the large spending on industrial advancement, developed, and high spending on commercial electronics products will generate numerous opportunities for the market to grow.
The objective of the report is to present a comprehensive analysis of the Global Nitrogen Trifluoride Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Nitrogen Trifluoride Market dynamics, structure by analysing the market segments and project the Global Nitrogen Trifluoride Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Nitrogen Trifluoride Market make the report investor’s guide.
For More Information Visit: https://www.maximizemarketresearch.com/market-report/global-nitrogen-tri...
Global Nitrogen Trifluoride Market Scope
Global Nitrogen Trifluoride Market, by Type
• Industrial Grade
• Electronic Grade
Global Nitrogen Trifluoride Market, by Application
• Semiconductor Chips
• Flat Panel Display
• Solar Cells
Global Nitrogen Trifluoride Market, by Region
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
Global Nitrogen Trifluoride Market Key Players
• Navin Fluorine International
• Air Products and Chemicals Inc.
• Kanto Denka Kogyo Co ltd (KDK)
• American Gas Group
• Mitsui Chemicals
• OCI Materials
• Foosung Co
• Hyosung Corp
• Central Glass Co
• Formosa Plastics
• Ulsan Chemical Co
• Linde AG
• Praxair Technology, Inc
• Anderson Development
• SK materials Co., Ltd
• Feiyuan Group
• Huntsman Corporation
• Akzo Nobel N.V.
• Solvay Chemicals
This Report Is Submitted By :Maximize Market Research Company
Customization of the report:
Maximize Market Research provides free personalized of reports as per your demand. This report can be personalized to meet your requirements. Get in touch with us and our sales team will guarantee provide you to get a report that suits your necessities.
About Maximize Market Research:
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.