SAN FRANCISCO, March 3, 2021 /PRNewswire/ -- The global chlorine
trifluoride market size is expected to reach USD 62.98 million by 2028 registering a CAGR of
4.2% over the forecast period, according to a new report by
Grand View Research, Inc. The demand for the product is expected to
be driven by the rapidly growing semiconductor industry. The
industry dynamics of chlorine trifluoride (CIF3) are largely
influenced by application markets, such as nuclear fuel processing
and semiconductor production. Rapid digitalization and automated
industrial manufacturing solutions have led to high penetration of
electronic gadgets and components on a global scale, which requires
various chemicals for constant maintenance and cleaning purposes.
In the semiconductor industry, CIF3 is extensively utilized to
clean chambers of chemical vapor deposition.
Key suggestions from the report:
- The semiconductor manufacturing application segment is
expected to witness the fastest CAGR, both in terms of volume and
revenue, from 2021 to 2028 due to the increasing demand for
electronic and chamber cleaning products
- The rocket propellant systems application segment accounted
for a revenue share of 22.3% in 2020 owing to the constant
technological advancements and high investments in space
exploration activities
- In the Asia Pacific region,
India is anticipated to register
the fastest growth rate of 4.6%, in terms of volume, from 2021 to
2028
- This growth can be attributed to the entry of semiconductor
manufacturing companies and significant government investments in
space exploration activities
- South Korea accounted for a
market share of 4.7% in the Asia
Pacific regional market on account of the thriving
semiconductor industry in the country.
Read 77 page research report with ToC on "Chlorine
Trifluoride Market Size, Share & Trends Analysis Report By
Application (Nuclear Fuel Processing, Semiconductor Manufacturing),
By Region (APAC, North America),
And Segment Forecasts, 2021 - 2028" at:
https://www.grandviewresearch.com/industry-analysis/chlorine-trifluoride-market
The major advantage is that the process of cleaning can be
carried out without dismantling the chamber walls as ClF3 doesn't
require activation by plasma. The substance also finds application
as a fluorinating agent in nuclear reactor fuel processing.
Germany's ClF3 gas market is
majorly driven by a high concentration of major semiconductor
manufacturers across the country. The country is the largest
producer of electronics products globally and is one of the largest
exporters of semiconductor equipment. Production of industrial
electronics accounted for about 50% of the total Europe CIF3 market share in 2020, which
indicates noteworthy growth prospects for ClF3. Increasing demand
for the gas, which results in a substantial decrease in emissions,
longer chamber lifespan, and quicker cleaning rates, is expected to
boost the market growth over the forecast period.
Grand View Research has segmented the global chlorine
trifluoride market on the basis of application and region:
- CIF3 Application Outlook (Volume, Tons; Revenue, USD
Million, 2017 - 2028)
-
- Semiconductor Manufacturing
- Nuclear Fuel Processing
- Rocket Propellant Systems
- Others
- CIF3 Regional Outlook (Volume, Tons; Revenue, USD Million,
2017 - 2028)
-
- North America
-
- Europe
-
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Central & South
America
-
- Middle East & Africa
-
- South Africa
- Saudi Arabia
List of Key Players of Chlorine Trifluoride Market
- Central Glass
- Air Products and Chemicals, Inc.
- Air Liquide
- Advance Research Chemicals, Inc.
- Kanto Denka Kogyo Co. Ltd.
- Taiyo Nippon Sanso Corporation.
Find more research reports on Organic Chemicals
Industry, by Grand View Research:
- Chemical Vapor Deposition (CVD) Market – The global
chemical vapor deposition (CVD) market size was valued at
USD 20.81 billion in 2016. The
tremendously rising demand for technology in microelectronics such
as mobiles, laptops, storage devices, and other electronic products
is driving the market.
- Caprolactam Market – The global caprolactam market size
was valued at USD 10.53 billion in
2014. It is expected to expand with a CAGR of 5.2% from 2015 to
2022.
- Bromine Derivatives Market – The global bromine
derivatives market size was valued at USD
3.70 billion in 2017. It is likely to expand at a CAGR of
4.3% during the forecast period.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting
company, provides syndicated as well as customized research reports
and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425
analysts and consultants, adding more than 1200 market research
reports to its vast database each year. These reports offer
in-depth analysis on 46 industries across 25 major countries
worldwide. With the help of an interactive market intelligence
platform, Grand View Research helps Fortune 500 companies and
renowned academic institutes understand the global and regional
business environment and gauge the opportunities that lie
ahead.
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