Boron Trifluoride and Complexes Market: Global Industry Analysis 2012 - 2016 and Opportunity Assessment 2017 - 2027
- Rep Id : XPLREP354
- Published On : January, 2018
- No. of Pages : 234
- Category : Chemicals
- Publisher : Future Market Insights
Focus on applying eco-friendly methods for the production of boron trifluoride to reduce adverse effects on the environment
The global boron trifluoride and complexes market is relatively consolidated with players such as HoneywellInternational Inc., Navin Fluorine International (India) and Stella-ChemifaCorporation (Japan) leading the market. These are dominant manufacturers of gas in theirrespective regions. Manufacturers are focussing on applying eco-friendly methods for the production of boron trifluoride, thus reducing any adverse impact on the environment. Asia Pacific is anticipated to hold a dominant share in the global boron trifluoride and complexes market throughout the forecast period, both in terms of production and consumption. Among the product types, BF3 gas is anticipated to hold a dominant share throughout the forecast period. However, complexes are projected to expand with significant CAGR owing to the relative ease of handling associated with their use.
Significant growth in the petrochemical industry across the globe driving market demand for BF3 gas
Tremendous growth has been witnessed in hydrocarbons synthesis and other chemicals that employ BF3 as a major catalyst during reaction. Growth in the oil & gas and petrochemical industries is one of the significant reasons behind the development of hydrocarbons synthesis. This factor is contributing to the growth of the global market for boron trifluoride and complexes. The Europe regional market is expected to grab almost 20% share in the global production of plastic. This region has a large number of polymer production companies that use BF3 for isomerisation, polymerisation and other organic synthesis. An increasing demand for BF3 and its complexes is expected to lead to tremendous growth in the global boron trifluoride and complexes market.
Boron trifluoride is used as an intermediate and catalyst for the manufacture of many pharmaceutical drugs (especially antibiotics) or to accelerate or decelerate the reaction rate.
There have been significant investments in the setting up of new production plants for pharmaceutical manufacturing in India. The cost of setting up of production plants in India is 40% lower as compared to Western countries. This particular factor is boosting the growth of the global boron trifluoride and complexes market in the Asia Pacific region.
“Polymer and petrochemicals, agrochemicals and pharmaceuticals by far were considered as the largest application area for boron trifluoride. However, over the last few years, boron trifluoride has also been used in other applications such as flavors and fragrances, nuclear power energy and also as an important catalyst in the manufacturing of semiconductors and solar cells. The use of boron trifluoride and its complexes for such applications and industries is anticipated to boost global market demand over the forecast period.”
Catalyst application segment gaining traction in the global market owing to significant properties of the final product
Boron trifluoride finds application as a catalyst in a diverse range of chemical reactions such as isomerisation, alkylation, polymerisation, esterfication, condensation, cyclization, hydration dehydration, sulfonation, desulphurisation, nitration, halogenation oxidation and acylation. In terms of revenue, the catalyst segment is projected to witness significant growth over the forecast period while expanding at a CAGR of 5.5% during 2017 – 2027. Growth of the polymers and petrochemicals industry is anticipated to lead to an increase in the consumption of boron trifluoride for applications as a catalyst.