Nitrogen Trifluoride Market to Reach a Valuation of US$ 3.88 Billion by 2033 : Fact.MR Analysis

Rockville , July 30, 2023 (GLOBE NEWSWIRE) -- As per a new industry analysis by Fact.MR, a market research and competitive intelligence provider, the global nitrogen trifluoride market is estimated at US$ 1.25 billion in 2023 and is forecasted to increase rapidly at a CAGR of 12% from 2023 to 2033.

Nitrogen trifluoride is a colorless, odorless, and non-flammable gas with the chemical formula NF ₃ . It is primarily used in automotive and semiconductor industries for the cleaning of chemical vapor deposition (CVD) chambers, plasma etching chambers, and other processes.

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With increasing adoption of electronic devices and technological advancements such as the Internet of Things (IoT), artificial intelligence (AI), and 5G, demand for nitrogen trifluoride is rising. These technologies are utilized in various applications, including smart homes, autonomous vehicles, industrial automation, and healthcare. As the adoption of IoT and AI continues to rise, demand for nitrogen trifluoride in semiconductor manufacturing is expected to grow rapidly.

Development of smaller and more efficient chips such as nanoscale transistors requires higher precision and cleaner manufacturing environments. Nitrogen trifluoride plays a crucial role in achieving these requirements.

Ongoing research and development activities are focused on improving the efficiency and effectiveness of nitrogen trifluoride for semiconductor cleaning processes. Advancements in purification techniques, recycling methods, and reduction of NF ₃ emissions are expected to boost the revenue growth of key market players during the forecast period.

Country-wise Insights :

Nitrogen Trifluoride Silent Hero in Silicon Wafer Production for Semiconductors

Manufacturing facilities for consumer electronics, telecommunications, and automobile parts are all present in the United States. Given that nitrogen trifluoride (NF3) is essential to the production of electronic components, this industry's expansion is presenting numerous chances for companies in the nitrogen trifluoride market.

The demand for NF3 in the US is also being driven by technological developments like 5G, the Internet of Things (IoT), and artificial intelligence. This is because nitrogen trifluoride is primarily used to clean and etch silicon wafers while making semiconductors.

Key Takeaways from Market Study

• The global nitrogen trifluoride market is projected to reach US$ 3.88 billion by 2033.
• The Asia Pacific region, particularly China, Japan, South Korea, and Taiwan, is a major consumer of NF ₃ due to its dominant semiconductor manufacturing industry.
• Germany’s growing shift towards sustainable energy solutions is fueling the demand for NF ₃ solutions.
• Rising production of modified automobiles in the United States is propelling the sales of nitrogen trifluoride.

“ T ransition toward s renewable energy sources such as solar panels and wind turbines require s semiconductor components for energy conversion and storage , which is boosting the market for nitrogen trifluoride , ” says a Fact.MR analyst.

Competitive Analysis

Some of the leading manufacturers of nitrogen trifluoride are:-

1. Air Products and Chemicals, Inc.,
2. Showa Denko K.K.,
3. Kanto Denka Kogyo Co. Ltd.,
4. Mitsui Chemicals, Inc., and Central Glass Co., Ltd.

These companies are focusing on expanding their production capacities, developing innovative purification techniques, and establishing strategic partnerships to maintain their competitive edge in the market.

• In June 2021, Showa Denko K.K. enhanced its manufacturing capacity of high-purity fluorine gas in Japan and started its operations in 2022.
• In December 2021, Solvay announced its acquisition of Henkel's business focused on fluorine-based products, encompassing a range of offerings such as solvents, refrigerants, and other specialized products derived from fluorine.

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Key Segments of Nitrogen Trifluoride Industry Research Report

• By Grade:
  • Electronic
  • Industrial
• By Process:
  • Chemical Synthesis
  • Electrolyzing Synthesis
• By Application:
  • Semiconductors
  • Flat Panel Displays
  • LEDs
  • Solar PV Cells
• By Region:
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global nitrogen trifluoride market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).

The study divulges essential insights into the market based on grade (electronic, industrial), process (chemical synthesis, electrolyzing synthesis), and application (semiconductors, flat panel displays, LEDs, solar PV cells), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).

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