The global boron trifluoride market is expected to grow at an exponential CAGR in the years to come due to augmenting applications and scope across the globe. Boron Trifluoride is a compound that is known to be one of the building blocks for the formation of boron compounds. The chemical possesses a strong smell and is said to be colorless in nature. The one that is highly pure in nature and quality is generally produced in a closed arrangement with the help of boric acid being one of the vital raw materials. It is also popularly known as trifluoroborane.
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A wide range of applications is
attached with the use of this chemical ranging from sealant chemicals,
lubricants, to adhesives. It is said that when it comes with the contact of
water, it gives rise to highly dangerous white fumes. It plays quite a vital
role as a catalyst and reagent while performing inorganic synthesis. The
chemical is gaining huge popularity due to its augmented applications and
benefits across various sectors. The key factors that are responsible for
boosting up the Boron Trifluoride industry growth may include rise in
industrialization, rising applications, constant innovations and introductions,
burgeoning demands for petroleum products, rising semiconductor applications,
rising popularity of the chemical as a catalyst in various pharmaceutical
operations, and robust growth of the plastics and polymer sector. The only
factor that is acting as a major hurdle in the Boron Trifluoride market growth
may include implementation of strict regulations by the government in the
developed regions regarding the usage of the chemical, rising concerns towards
the protection of environment, and emergence of sustainable development.
Global Boron TrifluorideIndustry
is segregated on the basis of application as Chemical Intermediate, Catalyst,
Coating (CVD of Boron), and others. End user as Pharmaceuticals,
Semiconductors, Polymer & Plastic, Petroleum & Petrochemicals, and
others segments boron Trifluoride Market. The market is categorized by
geography as North America, Southeast Asia, China, Europe, Japan, and India.
Among all the geographical regions, Asia Pacific is currently leading the
industry and it is estimated that the market will witness a robust growth rate
in the near future, the reason being augmented awareness among the consumers,
robust growth of the semiconductor industry, rising applications in the
petrochemicals, polymer, and plastics industry, and augmentation in the demand
for the chemical. Countries including China, India, Taiwan, and Japan have been
deemed as the significant contributors in the market growth of the
particular region.
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On the contrary, regions
including North America and Europe are exhibiting a much slower growth in
comparison to the Asia Pacific region, the reason being rising inclinations for
less toxic materials and implementation of strict government regulations on the
manufacturing sector. The prominent players operating in the Boron Trifluoride
Market are recognized as Praxair Technology, Inc., RugaoZhongchang Chemical
Co., Ltd., Honeywell International Inc., Hunan Heaven Materials Development
Co., QingzhouChenkai Chemical Co., Ltd., ZIBO SHUANGLIAN PETROLEUM &
CHEMICAL CO., Ltd., BASF SE, Voltaix LLC, and Stella Chemifa Corporation.
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