Boron Trifluoride Market

Boron Trifluoride Market

Category : Chemical & Industrial Material Reports | Delivery Format : PDF,PPT | Publisher: Reports and Insights | Pages : 243

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Boron Trifluoride Market Overview

The report is titled ‘Boron Trifluoride Market: Future Opportunities and Trend Analysis 2022-2030’. The report highlights insights into the current market scenario, key expectations, and future trends and expectations from the market. The boron trifluoride market is expected to register impressive growth in the near future due to growing petrochemical industries and growing demand for plastic and increasing demand for pharmaceuticals and agrochemicals are anticipated to fuel the consumption rate of BF3.

The boron trifluoride market is estimated to reach at a value of US$ 2,49,070.4 Thousand by the end of 2022 and expected to grow at a CAGR of 5.2% during the forecast period of 2022 to 2030.

Boron Trifluoride Introduction

Boron Trifluoride is a compressed, non-flammable gas with a strong Lewis acidic nature, exhibits strong affinity for electron pair and thus forms a wide range of complexes. This inorganic compound along with its complexes are amongst strongest Lewis acids, often used as acid catalysts in several reaction for synthesis of organic compounds. Commonly used BF3 complexes are either solids or liquids and are relatively easier for transportation and storage as compared to BF3 gas. BF3 can be used in the form of gas or in the complexes form and the properties can be altered by changing the coordinating reagent for tailored applications. The inorganic compound is widely used as catalyst for several reactions including polymerization, isomerization, alkylation and for synthesis of a variety of chemicals. Generally boron trifluoride is manufactured by reacting boron oxide with hydrogen fluoride.

Key Takeaways from the Market Study

  • Boron trifluoride market to be valued at US$ 2,49,070.4 Thousand by end of year 2022
  • The BF3 product type segment likely to expand at a CAGR of 5.2% until 2030
  • In 2022, the catalyst application segment accounted for the largest market share and expected to grow at 5.3% CAGR during the forecast period.
  • Asia Pacific region is expected to remain the prominent region in the global market and is estimated to remain the fastest growing region
  • The U.S. boron trifluoride market is expected to increase 1.34X during the forecast period 2022 to 2030

Boron Trifluoride Market Dynamics - Growing Petrochemical Industry is fueling the growth of BF3

Boron trifluoride is among the strongest Lewis acid, thus it is used as a catalyst in various chemical reactions which includes polymerization, alkylation, esterification, isomerization, acylation and many others. Several number of polymer derivatives are manufactured in the presence of boron trifluoride like polyethylene, polypropylene, polyethers and others. Boron trifluoride gas and its complexes are used for the manufacturing of rubber and other elastomeric polymers which are increasing being used in various industries. Furthermore, boron trifluoride are used in the production of several range of hydrocarbons such as, aromatic hydrocarbons, unsaturated hydrocarbons, alcohols, phenols, etc. With the significant growth in the petrochemical industries and significant demand for plastics and other petrochemical products, consumption rate of boron trifluoride is also anticipated to witness a significant growth rate during the coming years. Moreover, significant growth in the demand for hydrocarbon synthesis and various other chemicals in the oil and gas industries are also bolstering the sales of boron trifluoride. Strong refinigng rate of crude oil is expected to drive the demand for boron trifluoride as a catalyst. Furthermore, significant production rate of plastic i.e., 370 million tons all over the globe is also providing space for BF3 gas for polymerization and isomerization reactions.

Boron Trifluoride Market Report

Boron Trifluoride Market Segmentation

The global boron trifluoride market is segmented on the basis of product type, application, grade, end use, and region.

By Product Type:

BF3 Gas

BF3 Di Ethyl Etherate

BF3 Tetrahydrofuran Complex

BF3 Methanol Complex

BF3 Acetonitrile Complex

Others

By Application:

Catalyst

Chemical Intermediate

Others

By Grade:

Agricultural

Industrial/Technical

Pharmaceutical

By End Use:

Polymers and Petrochemicals

Pharmaceuticals

Electronics

Agrochemicals

Others

By Region:

North America

Latin America

Europe

Asia Pacific

Middle East

Africa

Boron Trifluoride Market Key Players

The prominent players in the market of boron trifluoride includes Honeywell International, Praxair Inc. (Now Linde plc), Arkema S.A., 3M, Matheson Tri Gas, Air Liquide, Vortex and many others. The key players are focusing on enhancing their market footprint to dominate over the market. They are also investing a fair share of their annual turnover in research and development to cater the growing demand from the end use industries.

Factors that are benchmarked while estimating the market

Various factors that are benchmarked while estimating the market growth includes (but not restricted to):

Global Industrial Gas Market

End Use Industry Growth Outlook

Demand for Catalyst

Concerns for use of Boron Trifluoride

Top Companies Historical Growth Rate

Pricing Impact

Other Key Benchmarking Factors

These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to take informed decision.


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Frequently Asked Questions

In 2020, global boron trifluoride market was valued at US$ 2,28,894.4 Th, and market is anticipated to register significant growth from 2022-2030

Growing Petrochemical Industry is fueling the growth of BF3

The global boron trifluoride market is segmented on the basis of product type, application, grade, end use, and region.

The prominent players in the market of boron trifluoride includes Honeywell International, Praxair Inc. (Now Linde plc), Arkema S.A., 3M, Matheson Tri Gas, Air Liquide, Vortex and many others. The key players are focusing on enhancing their market footprint to dominate over the market. They are also investing a fair share of their annual turnover in research and development to cater the growing demand from the end use industries.



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