NEW YORK, January 17, 2019 /PRNewswire/ --
China to Account for More than One-Third Market Volume Share in the Global F2/N2 Gas Mixture Market
The 'F2/N2 Gas Mixture Market: Global Industry Analysis 2013-2017 and Forecast 2018-2026' report examines the F2/N2 gas mixture market and offers valuable key insights for the next eight years. Based on the key findings reported in the study, the F2/N2 gas mixture market is projected to witness lucrative demand from increasing end-use applications, such as semiconductor electronics, pharmaceuticals and plastic surface modifications, will give a boost to the growth of the F2/N2 gas mixture market during the forecast period.
In terms of volume, the F2/N2 gas mixture market is estimated to be pegged at a volume of 19,699 tons in 2018 and is expected to expand at a CAGR of 3.7% and reach volume of 26,377 tons by the end of 2026.
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F2/N2 Gas Mixture Market: Dynamics
The Semiconductor and Electronics industry plays a key role in growth of the manufacturing sector. The electronics industry has witnessed significant growth in Mainland China, Taiwan, Japan and South Korea, thereby creating high demand for semiconductors in the region. This, in turn, will boost the growth of the F2/N2 gas mixture market in these countries and regions.
F2/N2 finds many applications in the pharmaceutical segment. As a matter of fact, F2/N2 gas mixture is preferred over high pressured gases in this sector. The demand for pharmaceuticals is increasing across the globe and in turn, leading to the high consumption of raw materials used as pharmaceutical ingredients. F2/N2 gas mixture is used as an intermediate and catalyst for the manufacturing of many pharmaceutical drugs (antibiotics especially) and thus, the market is expected to register sound growth.
Significant investments have been made for setting up of new pharmaceutical manufacturing production plants in India in recent years. This is because the cost of setting up a production plant in India is ~40% less as compared to the cost of setting up a production plant in western countries.
Conventionally F2/N2 gas mixture is used as a deposition substance to facilitate plastic surface modifications. However, F2/N2 gas mixture is also being widely used as an intermediate for the plastic surface modification.
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F2/N2 Gas Mixture Market: Forecast
On the basis of growth, the F2/N2 gas mixture market is estimated to grow and become 1.4X during the forecast period owing to the growth being witnessed in end-use applications, such as semiconductor electronics, pharmaceuticals and plastic surface modification. From a geographical perspective, China, followed by South East Asia & Pacific and Japan, is anticipated to dominate the global F2/N2 gas mixture market during the forecast period. In terms of incremental $ opportunity, China is expected to represent significant incremental $ opportunity during the projected period.
By product type, the 20% F2/N2 gas mixture segment is anticipated to dominate the market and hold approximately three-fourth market volume share. The segment is anticipated to account for a volume share of 75.9% by the end of 2026 and is expected to expand at a volume CAGR of 3.8% between 2018 and 2026. On the other hand, the 10% F2/N2 gas mixture segment is expected to expand at a volume CAGR of 3.5% in between the forecast period.
Among all end-use application segments, the semiconductor electronics segment is anticipated to dominate the global F2/N2 gas mixture market with two-third market volume share during the forecast period. In terms of volume, the pharmaceutical segment is expected to hold more than one-tenth of the market share in 2018 and is expected to expand at a volume CAGR of 3.7% between 2018 and 2026. The Plastic surface modification segment is projected to witness weak growth as compared to other segments during the forecast period.
F2/N2 Gas Mixture Market: Competitive Landscape
Some of the key players operating in the F2/N2 gas mixture market are Solvay SA, Versium Materials, Air Products and Chemicals, Inc., Air Liquide S.A., Hyosung Japan Co., Ltd, Ingentec Corp, Pelchem SOC Ltd and Wuxi Yuntong Gas Co., Ltd.
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