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Global Nitrogen Trifluoride (NF3) Market to Grow at a CAGR of 6.2% During 2021-2026, Aided by the Growing Sales of Consumer Electronics

According to a new report by EMR titled, ‘Global Nitrogen Trifluoride (NF3) Market Report and Forecast 2021-2026’, the global NF3 market is projected to grow at a CAGR of 6.2% between 2021 and 2026.

The nitrogen trifluoride (NF3) industry is being aided by the increasing sales of consumer electronics. The growing electronics market, which requires gases for semiconductor, solar, display, and LED applications, is one of the major consumers of nitrogen trifluoride. The product is gaining prominence in the electronics industry, owing to its environment-friendly nature. The growing disposable incomes and increase in demand for smartphones, laptops, and LCD televisions, are expected to promote the use of nitrogen trifluoride (NF3), thus, aiding the market growth.

Some of the major players in the NF3 market include Linde PLC (NYSE: LIN) and Mitsui Chemicals, Inc. (TYO: 4183). The growing investments by the key players to enhance their product portfolio and meet the rising demand for nitrogen trifluoride (NF3) is further accelerating the industry growth. In June 2018, Linde announced that the company has significantly invested in products and business continuity planning (BCP) to fulfill the growing needs of sub-10nm advanced flat panel manufacturers and semiconductor factories, thus, increasing the capacity of fluorine/nitrogen mixtures and adding new precursors to its portfolio. Moreover, growing R&D activities are expected to open new opportunities for the industry growth. In March 2020, Mitsui Chemicals inaugurated the Design & Solution Center in Sanjo, Niigata Prefecture, which will offer a wide range of the Mitsui Chemicals Group’s product development capabilities under a single roof. Such developments are expected to aid the NF3 market growth over the forecast period.

Market Breakup by Grade, Application, and Region:

  • Based on grade, the industry can be bifurcated into electronic and industrial segments.
  • On the basis of application, the industry is divided into semiconductors, flat panel displays, solar cells, and LED, among others.
  • Region-wise, the global NF3 market can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The nitrogen trifluoride (NF3) industry is being driven by the rising environmental concern among consumers and the growing adoption of solar cells.  
  • The favourable government initiatives to reduce greenhouse gas emissions is also accelerating the industry growth
  • The market is expected to receive a further boost from the growing R&D activities and rapid urbanisation in the developing nations
  • The growing utilisation of semiconductor chips and flat panel displays in consumer electronics is further aiding the growth of the overall market.

Key Offerings of the Report:

  • The EMR report gives an overview of the market for the periods (2016-2020) and (2021-2026). 
  • The report also offers historical (2016-2020) and forecast (2021-2026) market information for the grades, applications, and regional markets of nitrogen trifluoride (NF3).
  • The report also gives the regional historical (2016-2020) and forecast (2021-2026) price trends of the product. 
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global nitrogen trifluoride (NF3) market are Mitsui Chemicals, Inc., Feiyuan Group, SK Materials, Linde AG, and American Gas Products, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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