The new report by Expert Market Research titled, ‘Global Nitrogen Trifluoride (NF3) Market Size, Share, Price, Trends, Growth, Report and Forecast 2020-2025’, gives an in-depth analysis of the global nitrogen trifluoride (NF3) market, assessing the market based on its segments like grade, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2025)
• Forecast CAGR (2020-2025): 6.2%
The rising environmental concerns across the globe are driving the nitrogen trifluoride (NF3) industry forward. Most manufacturing processes, especially in the electronics industry, generate greenhouse emissions, posing a risk of environmental degradation. The low emission rates associated with nitrogen trifluoride have helped in reducing global warming and protecting the earth’s climate, which, in turn, is aiding the market growth. Nitrogen trifluoride finds its use in various industries. The rising demand for nitrogen trifluoride in the electronics and semiconductor industries is driving the market forward. It is being increasingly accepted as a greener alternative to various semiconductor chips and other parts. The market growth is highly prevalent in developing regions, owing to an increase in digital product sales.
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Industry Definition and Major Segments
Nitrogen trifluoride is an inorganic compound, represented as NF3. In its physical state, it is a colourless gas with a characteristic musty odour. The compound is composed of nitrogen and fluorine atoms in a ratio 1:3. The stability of nitrogen trifluoride makes it easy and safe to handle. It is being widely used in the electronics industry as a greener replacement for cleaning agents.
The market is being divided on the basis of grade into:
The product finds applications in the following sectors:
• Flat Panel Displays
• Solar Cells
Semiconductor chips are the largest application segment.
The regional markets for the product are:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
The Asia Pacific is the leading regional market for nitrogen trifluoride.
The growing risk of environmental degradation and the rising awareness among people is leading to the shift towards greener alternatives. Nitrogen trifluoride is widely used in the electronics and semiconductor industries as a cleaner alternative to traditional cleansing agents, thus, driving the market growth forward. Favourable government initiatives across the globe have also propelled the nitrogen trifluoride (NF3) market growth. The increasing R&D activities and rapid urbanisation, especially in the developing economies in the Asia Pacific, has led to a growth in the sales of electronic devices like mobile phones, laptops, and LCDs, which, in turn, is aiding the market growth. Moreover, the leading companies in the industry are increasing investments in the sector, providing impetus to the nitrogen trifluoride (NF3) market growth.
Key Market Players
The major players in the market are Mitsui Chemicals, Inc. (OTCMKTS: MITUY), Feiyuan Group, SK Materials (KOSDAQ: 036490), Linde AG (NYSE: LIN), and American Gas Products, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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