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Kenneth Research recently added a report on Global Chlorine Trifluoride Market which provides an in-depth analysis of the market scenario based on the market size and the compound annual growth rate (CAGR) of the market over the forecast period, i.e., 2022-2031. The European Chemical Industry Council, in one of its statistics, stated that, Europe is the second largest producer of chemicals globally and is further predicted to observe a significant growth in the coming years.
In Q4 2021, U.S. current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, country's goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches highest at 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point impacting the economic activity in the U.S, pushing consumers to spend less on the products and services and save more.
On the other hand, the worst is expected to be seen in the European countries, especially during 2022 winters. The energy and gas crises has already started grappling the region, wherein many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage created by Russian-Ukraine conflict.
Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.
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It is also anticipated to grow on account of the growing demand for chemicals from the end users, backed by the increasing consumption of chemicals across different industries and the rising need for advanced chemicals. In India, the production of major chemicals and petrochemicals during the period 2020-2021 was close to 12000 thousand MT. Additionally, between the period 2015-16 and 2019-20, the production of the chemicals and petrochemicals in the nation grew at a CAGR of close to 6%.
Global Chlorine Trifluoride Market is valued approximately at USD 45.48 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 4.2% over the forecast period 2021-2027. Chlorine Trifluoride is a colorless, corrosive and susceptive gas which is made up of chlorine and fluorine atoms. It is stored in Aluminum, Copper, steel etc. and used in the semiconductor industry, rocket propellent, Nuclear reactor fuels. Increasing demand in the semiconductor industry, Nuclear industry to use as fluorinating agent, rising consumption for chemical in aerospace industry, growing electronic industry. In the semiconductor industry, there is a high demand for the chemical because of its application in cleaning chemical vapor deposition chamber.
According to a study by the Associated Chambers of Commerce of India (ASSOCHAM) and EY, with spike in demand for electronic products, the electronics system design & manufacturing (ESDM) sector in India is predicted to reach ~US$ 220 billion by 2025, expanding at a 16.1% CAGR between 2019 and 2025. The ESDM was valued at US$ 90 billion in FY19. As per the State of the US SIA (United States Semiconductor Industry Association) USA investments in semiconductor specific research across federal scientific agencies from approximately $1.5 billion to $5 billion annually to advance new materials, designs, and architectures. However, Requirement of skilled labor impedes the growth of the market over the forecast period of 2020-2027. Also, with the exponential increase in population, the adoption & demand for Chlorine Trifluoride is likely to increase the market growth during the forecast period.
The regional analysis of Global Chlorine Trifluoride Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the significant region across the world in terms of market share owing to as major semiconductor companies are established. USA is the largest consumer of electronic chemicals and the majority of semiconductors are exported to the European and Asian market. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Major Factors promoting the market are increasing aerospace industry and automated industrial manufacturing solutions, growing electronic equipment industry have led to high penetration of electronic gadgets and components on a global scale, which requires various chemicals for constant maintenance and cleaning purposes would create lucrative growth prospects for the Chlorine Trifluoride market across Asia-Pacific region.
Major market player included in this report are:
Central Glass
Air Products and chemicals
Air Liquide
Advance Research Chemicals
Linde PLC
Versum Materials
Advance Research Chemicals
Matheson Tri-Gas Inc.
Taio Nippon Sainso Corporation
Kanto Denka Kogya Co. Ltd.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Application:
Semiconductor
Nuclear Fuel Processing
Rocket Propellent System
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2022 to 2031
Target Audience of the Global Nanorobotics Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
About Kenneth Research
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defence, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research, are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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