Overview and Scope
Chlorine trifluoride refer to colorless gas or green liquid with a pungent odor used as a fluorinating agent. Chlorine trifluoride is used as an igniter and propellant in rockets, primarily in plasma-free cleaning and etching processes. It is formed by heating a mixture of fluorine and chlorine to around 280 °C in a nickel or copper vessel. It is also named ClF3, or CTF.
Sizing and Forecast
The chlorine trifluoride market size has grown strongly in recent years. It will grow from <b>$62.68 billion in 2023 to $67.88 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. </b> The growth in the historic period can be attributed to increased semiconductor manufacturing, increased chemical synthesis, increased material processing, growth of the aerospace industry, increased research and development.
The chlorine trifluoride market size is expected to see strong growth in the next few years. It will grow to <b>$94.36 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. </b> The growth in the forecast period can be attributed to increasing electronics and microelectronics manufacturing, increasing energy storage technologies, growing green chemistry initiatives, growing sustainable and safe handling practices, increasing research in advanced battery technologies. Major trends in the forecast period include advanced material development, innovative nanotechnology applications, technological advancements, innovative solutions, strategic collaborations.
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Segmentation & Regional Insights
The chlorine trifluoride market covered in this report is segmented –
1) By Grade: Electronic Grade, Industrial Grade
2) By Form: Gas, Liquid, Solid
3) By Application: Semiconductor Manufacturing, Nuclear Fuel Processing, Rocket Propellant Systems, Other Applications
<b>Western Europe</b> was the largest region in the chlorine trifluoride market in 2023. <b>North America</b> is expected to be the fastest-growing region in the forecast period. The regions covered in the chlorine trifluoride market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The growth of the semiconductor industry is expected to drive the chlorine trifluoride market. Chlorine trifluoride (ClF3) is used in the semiconductor industry for cleaning and etching silicon wafers due to its highly reactive and selective nature, helping to create precise microstructures and remove unwanted materials. For instance, in April 2022, according to the worldwide semiconductor association, global semiconductor industry sales were $50.9 billion in April 2022, an increase of 21.1% over April 2021. Additionally, according to an International Energy Agency report, In 2021, global nuclear power generation increased by 3.5% over 2020. Therefore, growth of the semiconductor industry is expected to boost demand for chlorine trifluoride during the forecast period.
Key Industry Players
Major companies operating in the chlorine trifluoride market include <b> Advance Research Chemicals Inc., Air Products and Chemicals Inc., Kanto Denka Kogyo Co Ltd., Linde plc, Mott Corporation, Praxair Technology Inc., Air Liquide SA, Versum Materials Inc., Showa Denko Materials Co Ltd., Matheson Tri-Gas Inc., Gujarat Fluorochemicals Ltd., Parad Corporation, Merck KGaA, Iwatani Corporation, Awishkar Chemical Industries, Taiyo Nippon Sanso Corporation, DOD Technologies Inc., Central Glass Co Ltd., Linde AG, Air Products and Chemicals Inc., AgroLiquid, Agrium Advanced Technologies Inc., Mott Corporation, Fertiberia Sociedad Anonima, Haifa Chemicals Ltd. </b>
The chlorine trifluoride market report table of contents includes:
1. Executive Summary
2.Chlorine Trifluoride Market Characteristics
3.Chlorine Trifluoride Market Trends And Strategies
4. Chlorine Trifluoride Market analysis
5.Chlorine Trifluoride Market Size And Growth
6.Chlorine Trifluoride Segmentation
7.Chlorine Trifluoride Regional And Country Analysis
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27.Chlorine Trifluoride Competitive Landscape And Company Profiles
28.Chlorine Trifluoride Key Mergers And Acquisitions
29.Chlorine Trifluoride Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Advance Research Chemicals Inc.
- Air Products and Chemicals Inc.
- Kanto Denka Kogyo Co Ltd.
- Linde plc
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