New York, March 29, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Chlorine Trifluoride Global Market Report 2023" - https://www.reportlinker.com/p06325415/?utm_source=GNW
, Air Liquide, Versum Materials, Showa Denko, Matheson Tri-Gas Inc., GFL Ltd., Parad Corporation, Merck KGaA, Iwatani Corporation, and Awishkar Chemical Industries.
The global chlorine trifluoride market grew from $58.02 billion in 2022 to $62.31 billion in 2023 at a compound annual growth rate (CAGR) of 7.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The chlorine trifluoride market is expected to grow to $82.47 billion in 2027 at a CAGR of 7.3%.
The chlorine trifluoride market consists of sales of chlorine trifluoride for used as fluorinating agent and in rocket fuels.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Chlorine trifluoride refer to colorless gas or green liquid with a pungent odor used as a fluorinating agent.Chlorine trifluoride is used as an igniter and propellant in rockets, primarily in plasma-free cleaning and etching processes.
It is formed by heating a mixture of fluorine and chlorine to around 280 °C in a nickel or copper vessel. It is also named ClF3, or CTF.
Western Europe was the largest region in the chlorine trifluoride market in 2022.North America is expected to be the fastest-growing region in the forecast period.
The regions covered in the chlorine trifluoride market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of grades of chlorine trifluoride are electronic grade and industrial grade.The electronic grade refers to chemicals used in the electronic industry, particularly in the fabrication of semiconductors and microprocessors.
The chlorine trifluoride comes in gas, liquid, and solid forms that are applied in semiconductor manufacturing, nuclear fuel processing, rocket propellant systems, and other applications.
The growth of the key end-use industries is expected to drive the chlorine trifluoride market.The key end-use industries that use chlorine trifluoride are semiconductors, nuclear power generation, defense, and aerospace.
These chlorine trifluoride gases are used in rocket fuels, in the nuclear power industry to produce uranium hexafluoride, and in the semiconductor industry to clean chemical vapor deposition chambers.These uses by end-use industries have led to an increase in demand for chlorine trifluoride.
For instance, in April 2022, according to the worldwide semiconductor association, global semiconductor industry sales were $50.9 billion in April 2022, an increase of 21.1% over April 2021. Additionally, according to an International Energy Agency report, In 2021, global nuclear power generation increased by 3.5% over 2020. Therefore, the increasing sales and demand for end-use products by various industries is expected to boost demand for chlorine trifluoride during the forecast period.
The fabrication of semiconductors has been a major trend in the chlorine trifluoride market.Semiconductor fabrication is the method of constructing semiconductor devices through a series of nanofabrication processes performed on the surface of highly pure single crystal silicon substrates.
These substrates are usually referred to as wafers that commonly include 300 mm type, which provides the advanced miniaturization required for cutting-edge devices, and 200 mm type, which are better suited for Internet of Things devices (IoT).For instance, in November 2021, Texas Instruments, a US-based semiconductor manufacturing company, announced the semiconductor wafer fabrication of a 300-millimeter semiconductor in their newly developed advanced plant-based in Sherman, Texas.
Texas Instrument expects to introduce up to four of the newly developed fabs in order to meet demand over time, as semiconductor growth in electronics, particularly in industrial and automotive markets, is expected to continue well into the future.
In December 2021, Inhance Technologies, LLC, a US-based sustainable polymer material science solution provider acquired Advance Research Chemicals, Inc. for an undisclosed amount. With the acquisition, Inhance Technologies, LLC is expected to be a market leader in environmentally friendly specialty chemicals and materials with unrivalled R&D resources, expertise, and geographic reach of Advance Research Chemicals. Advance Research Chemicals, Inc. is a US-based producer of specialty chemicals.
The countries covered in the chlorine trifluoride market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The chlorine trifluoride market research report is one of a series of new reports that provides chlorine trifluoride market statistics, including chlorine trifluoride industry global market size, regional shares, competitors with a chlorine trifluoride market share, detailed chlorine trifluoride market segments, market trends and opportunities, and any further data you may need to thrive in the chlorine trifluoride industry. This chlorine trifluoride market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06325415/?utm_source=GNW
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