Boron Trifluoride Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment; 2017 – 2027
Valley Cottage, NY -- (SBWIRE) -- 12/11/2017 -- Boron trifluoride (Formula-BF3), also known as trifluoroborane, is an inorganic compound which has a pungent smell and is colourless in nature. This compound is one of the building blocks for boron compounds. Highly pure Boron Trifluoride is manufactured in a closed system using boric acid as a raw material. Boron Trifluoride is widely used as a reagent during inorganic synthesis, especially as a Lewis acid. Also, it acts as a catalyst during various reactions such as esterification, dehydration, isomerisation, alkalisation, condensation, etc. Boron trifluoride is commonly used during ion implantation, in neuron detectors in ionisation chamber as well as for detecting radiation level in earth atmosphere fumigation. Boron Trifluoride also finds applications in lubricants, adhesives and sealant chemicals. Boron Trifluoride forms highly hazardous white fumes on coming in contact with water.
It decomposes when heated or exposed to moist air and forms corrosive and toxic fumes of hydrofluoric acid and boric acid. Furthermore, it also reacts with alkalis and reduces visibility by producing particulates. Boron Trifluoride is highly reactive with alkali metals and alkaline earth metals.
Boron Trifluoride Market: Dynamics
With the growth of the plastics and polymer industry across the globe, the demand for Boron Trifluoride, as a catalyst in polymerisation reactions, is increasing, which in turn is driving the growth of the Boron Trifluoride market. Market growth is also being supported by increasing demand for Boron Trifluoride as a catalyst in pharmaceutical operations. Moreover, rising demand for Boron Trifluoride for semiconductor applications such as in chemical vapour deposition of boron, etc. is expected to boost the demand for the compound. Furthermore, the rising demand for petroleum products, in which Boron Trifluoride plays a vital role as a catalyst, is also likely to impact the market in a positive way.
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However, since Boron Trifluoride causes several detrimental effects on the environment, the industrial initiative to support sustainable development is likely to hamper growth of Boron Trifluoride market in future. Also, stringent regulations in developed regions such as Europe and North America to promote the use of bio-based chemicals may have a negative effect on the demand for Boron fluoride in coming years.
Boron Trifluoride Market: Regional Outlook
Global Boron trifluoride market is dominated by the Asia Pacific region in terms of both, consumption and production. Significant growth of polymer & plastics and petrochemicals industry in Asia Pacific Region, especially in China and India will, in turn, result in an increase in demand for Boron trifluoride. Growing semiconductor industry in APAC, especially in China, Taiwan, Japan, etc., will also help to maintain the region's dominance in the global Boron Trifluoride market over the forecast period. It is expected that APAC Boron Trifluoride market will register significant CAGR over the forecast period. North America and Europe are expected to be the major markets for Boron Trifluoride after the APAC region.
Stringent government regulations levied on the manufacturing industry in Europe and North America coupled increasing preference for less toxic materials may hamper the growth of the global Boron Trifluoride market. In North America & Europe, the Boron Trifluoride market is expected to register relatively slower growth as compared to that of APAC region during the forecast period.
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Boron Trifluoride Market: Market Participants
Examples of some of the market participants in the global Boron Trifluoride market, identified across the value chain, include BASF SE, Voltaix LLC, Praxair Technology, Inc., Honeywell International Inc., Stella Chemifa Corporation, ZIBO SHUANGLIAN PETROLEUM & CHEMICAL CO., Ltd., Dalian Special Gases Co. Ltd, Qingzhou Chenkai Chemical Co., Ltd., Rugao Zhongchang Chemical Co., Ltd., and Hunan Heaven Materials Development Co. The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.