Owing to readily reacting property of boron trifluoride, it has been experiencing an increasing demand for organic synthesis reactions. It is one of the strongest Lewis acids reacting readily with chemicals such as nitrogen, oxygen, sulfur and some other electron pair donors. It is widely utilized for the production of lubricant additives and synthetic oils as well as in the manufacturing of high-purity boron isotopes.
The global boron trifluoride and complexes market is anticipated to grow at moderate single-digit value CAGR throughout the forecast period (2017-2027). According to a report published by Future Market Insights, the global market for boron trifluoride and complexes is projected to reach valuation of more than US$ 220 Mn by the end of 2018 and will reach US $ 363 Mn by the end of 2027. The market is anticipated to exhibit an incremental dollar opportunity of nearly US$ 152.5 Mn during 2017 to 2027.
Will polymers and petrochemical production remain a lucrative end-use of boron trifluoride and complexes through 2027?
Based on End-use, the market has been segmented into electronics, polymers & petrochemicals, pharmaceuticals and agro chemicals. Polymers and petrochemicals segment is anticipated to witness considerable expansion in terms of market value, incremental dollar opportunity and CAGR during the forecast period. This segment is projected to witness expansion at significant CAGR throughout the forecast period. The growth for polymer & petrochemical industry has been looking upward and is anticipated to continue to drive revenue growth of the market for boron trifluoride and complexes in foreseeable future.
Will boron trifluoride and its complexes find robust applications as catalysts?
On the basis of application type, the market has been segmented into chemical intermediate and catalyst. Among these, the catalyst segment is anticipated to showcase stagnant Y-o-Y growth and is estimated to expand at 5.5% CAGR throughout the forecast period. Owing to rise in number of applications of boron trifluoride, an increasing demand from end-use industry has been experienced across the globe.
What type of product is set to account for two-third share of global boron trifluoride and complexes market revenues?
By product type, the market has been segmented into BF3 Gas, BF3 Di Ethyl Etherate, BF3 Acetonitrile Complex, BF3 Tetrahydrofuran Complex, BF3 Methanol Complex. Among these segments, the BF3 gas segment had accounted for over two-third share of the market, in terms of value in the year 2017. As the BF3 gas has wide applications in different end-use industries, the segment is anticipated to gain significant revenue share of the market.
Which region is expected to be the leading market, and why?
The market in the APEJ region is anticipated to witness significant expansion and is projected to gain 360 BPS in the year 2027 as compared to 2017, with 6.3% growth rate throughout the forecast period. The expansion of the market in APEJ region is attributed to the considerable growth in the polymer & petrochemical industries in the Asia Pacific region, particularly in fastest expanding countries such as India and China. This in return is anticipated to boost demand for boron trifluoride in APEJ region.
How will the demand for boron trifluoride and complexes evolve in near future?
Due to the properties boron trifluoride exhibit, it is experiencing high demand from petrochemicals and polymers industry. Increasing demand from these industries is expected to generate considerable opportunities in the market. However, stringent rules relating to transportation & logistics, packaging and manufacturing of boron trifluoride are limiting growth of the market to certain extent. Further, high cost linked with the usages of boron trifluoride as well as lack of gas unloading in LAMEA region is the key factor affecting growth of the market. Additionally, high corrosive nature of BF3 gas is another key restraint of the market.
Global leaders in production of boron trifluoride and complexes
Several prominent players operating in the market has been profiled in this report such as Tanfac Industries Ltd., Wujiang City Fuhua Chemical Co., Ltd., BASF SE, NAVIN FLUORINE INTERNATIONAL LIMITED, Praxair Technology, Inc., Stella Chemifa Corporation, Qingzhou Chenkai, Gulbrandsen, Chemical Co., Ltd., Matheson, Arkema, Entegris, Inc., Honeywell International Inc., Hunan Heaven Materials Development Co., The Linde Group, Tri-Gas Inc., and Voltaix LLC ( acquired by Air Liquide).