Chlorine Trifluoride Market Size Worth $62.98 Million By 2028 | CAGR 4.2%: Grand View Research, Inc.

SAN FRANCISCO, March 3, 2021 /PRNewswire/ -- The global chlorine trifluoride market size is expected to reach USD 62.98 million by 2028 registering a CAGR of 4.2% over the forecast period, according to a new report by Grand View Research, Inc. The demand for the product is expected to be driven by the rapidly growing semiconductor industry. The industry dynamics of chlorine trifluoride (CIF3) are largely influenced by application markets, such as nuclear fuel processing and semiconductor production. Rapid digitalization and automated industrial manufacturing solutions have led to high penetration of electronic gadgets and components on a global scale, which requires various chemicals for constant maintenance and cleaning purposes. In the semiconductor industry, CIF3 is extensively utilized to clean chambers of chemical vapor deposition.

Key suggestions from the report:

• The semiconductor manufacturing application segment is expected to witness the fastest CAGR, both in terms of volume and revenue, from 2021 to 2028 due to the increasing demand for electronic and chamber cleaning products
• The rocket propellant systems application segment accounted for a revenue share of 22.3% in 2020 owing to the constant technological advancements and high investments in space exploration activities
• In the Asia Pacific region, India is anticipated to register the fastest growth rate of 4.6%, in terms of volume, from 2021 to 2028
• This growth can be attributed to the entry of semiconductor manufacturing companies and significant government investments in space exploration activities
• South Korea accounted for a market share of 4.7% in the Asia Pacific regional market on account of the thriving semiconductor industry in the country.

Read 77 page research report with ToC on "Chlorine Trifluoride Market Size, Share & Trends Analysis Report By Application (Nuclear Fuel Processing, Semiconductor Manufacturing), By Region (APAC, North America), And Segment Forecasts, 2021 - 2028" at: https://www.grandviewresearch.com/industry-analysis/chlorine-trifluoride-market

The major advantage is that the process of cleaning can be carried out without dismantling the chamber walls as ClF3 doesn't require activation by plasma. The substance also finds application as a fluorinating agent in nuclear reactor fuel processing. Germany's ClF3 gas market is majorly driven by a high concentration of major semiconductor manufacturers across the country. The country is the largest producer of electronics products globally and is one of the largest exporters of semiconductor equipment. Production of industrial electronics accounted for about 50% of the total Europe CIF3 market share in 2020, which indicates noteworthy growth prospects for ClF3. Increasing demand for the gas, which results in a substantial decrease in emissions, longer chamber lifespan, and quicker cleaning rates, is expected to boost the market growth over the forecast period.

Grand View Research has segmented the global chlorine trifluoride market on the basis of application and region:

• CIF3 Application Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)
• Semiconductor Manufacturing
• Nuclear Fuel Processing
• Rocket Propellant Systems
• Others
• CIF3 Regional Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)
• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Russia
• Asia Pacific
• China
• India
• Japan
• South Korea
• Central & South America
• Brazil
• Argentina
• Middle East & Africa
• South Africa
• Saudi Arabia

List of Key Players of Chlorine Trifluoride Market

• Central Glass
• Air Products and Chemicals, Inc.
• Air Liquide
• Advance Research Chemicals, Inc.
• Kanto Denka Kogyo Co. Ltd.
• Taiyo Nippon Sanso Corporation.

Find more research reports on Organic Chemicals Industry, by Grand View Research:

• Chemical Vapor Deposition (CVD) Market – The global chemical vapor deposition (CVD) market size was valued at USD 20.81 billion in 2016. The tremendously rising demand for technology in microelectronics such as mobiles, laptops, storage devices, and other electronic products is driving the market.
• Caprolactam Market – The global caprolactam market size was valued at USD 10.53 billion in 2014. It is expected to expand with a CAGR of 5.2% from 2015 to 2022.
• Bromine Derivatives Market – The global bromine derivatives market size was valued at USD 3.70 billion in 2017. It is likely to expand at a CAGR of 4.3% during the forecast period.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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