Selbyville, Delaware, Sept. 23, 2019 (GLOBE NEWSWIRE) --
The nitrogen trifluoride (NF3) market revenue is set to reach a valuation of $2 billion by 2025, according to a 2019 Global Market Insights, Inc. report. Rising demand from high-tech thin film industries of semiconductor, and solar photovoltaic cells manufacturing for deposition, etching and chamber cleaning application is projected to drive the nitrogen trifluoride market growth. Increasing demand for high-purity electronic special gases, primarily NF3 for chamber cleaning and lowering manufacturing carbon footprint while supporting next generation display technology is projected to drive the market growth.
Growing microelectronics industry with rising demand for consumer electronics, LED, flat panel displays driven by growth of smartphones and tablets is projected to drive the demand for electronic special gases. Semiconductors are key to several high-tech industries and extensively used in information storage and processing, communication, computing, electronic counter measurements as well as in military weapons. The growth of global semiconductor industry has positive impact on the special electronic gases thereby driving nitrogen trifluoride (NF3) market demand.
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Application of NF3 gas in production of solar PV cells is expected to witness growth of over 11.5% during the foreseeable timeframe owing to significant rise in solar sector. Solar cell manufacturers are increasingly using special gases to improve yield, cell efficiency and to lower the manufacturing costs of photovoltaic cell production processes. Increasing advancements in development of thin-film silicon solar cells across the globe is projected to drive the market growth.
Germany NF3 market size may expect consumption at around 700 tons during the projected timeframe on account of its presence as a major manufacturing hub for semiconductors and manufacturing equipment. The country is a major manufacturer of electronics products in the world with industrial electronics production accounting for around 50% of total European output indicates significant growth opportunities for the market growth. Growing demand for nitrogen trifluoride which offers significant reduction in carbon emission, faster cleaning rates and longer chamber life is projected to drive the market growth over the projected period.
Browse key industry insights spread across 135 pages with 72 market data tables and 27 figures & charts from the report, “Nitrogen Trifluoride (NF3) Market By Application (Semiconductor, Flat Panel Display, LED, Solar PV Cells), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/nitrogen-trifluoride-nf3-market
U.S. nitrogen trifluoride market size in the is projected to witness gains close to 9.5% during the forecast period owing to the growing demand form the manufactures in Silicon Valley in the country. Rising technological advancements along with increasing investments in R&D have enabled manufacturers to use safe and easy to handle nitrogen fluoride gas in semiconductor manufacturing process which shall have a major impact on the market growth.
China nitrogen trifluoride market is projected to grow at around 10.5% CAGR during the forecast period on account of presence of large number of LED, and flat display panel fabrication facilities across the region. Rising demand for NF3 in chamber cleaning process provide free fluorine radicals to volatize silicon deposits on chamber walls thereby reducing risk of particles falling on the modules thereby increasing their efficiencies.
Linde, Air Liquid and Air Products and Chemicals are the key players operating in the nitrogen trifluoride (NF3) market. Several companies are focusing to improve their business by strategic partnerships with emphasis on R&D to provide an ultra-high purity NF3 gas based on consumer demand for specific application industries.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.