Chlorine Trifluoride Market Analysis
Chlorine trifluoride is a colorless gas or green liquid with a pungent odor. It has boiling point of 53-degree Fahrenheit. Chlorine trifluoride when reacted with water forms chlorine and hydrofluoric acid and release some heat. Chlorine trifluoride was first discovered in the year 1930 by Ruff and Krug, prepared by fluorination of chlorine. It is used as one of the components in rocket fuels, plasma less cleaning and etching operations in the semiconductor industry, nuclear reactor fuel processing, and other industrial operations. Chlorine trifluoride has a molecular geometry of CLF3 with T shaped. It is used in semiconductor, rocket propellant, and different military application. Chlorine trifluoride acts as an oxidizing and fluorinating agent.
COVID-19 Impact analysis
- The trade restrictions due to the COVID-19 pandemic hampered the demand and supply chain of the chlorine trifluoride market.
- China, the leading manufacturer of chlorine trifluoride, was the first to be affected by the COVID-19 pandemic, which led to decline in the supply of chlorine trifluoride due to huge economic loss and decrease in manpower.
- Chemical industries have been negatively impacted due to the COVID-19 outbreak. Semiconductor manufacturing units have also experienced a decline in productivity rates and demand. This may cause the chlorine trifluoride to witness a drop in near future.
- Economics of the chlorine trifluoride market is expected to be back on track, owing to its application in a variety of end-use industries such as nuclear fuel processing, semiconductor manufacturing, and military application.
Top Impacting Factors
Rapid digitalization and automated industrial manufacturing have increased use of electrical appliances that leads to requirement of chemicals for maintenance and cleaning purpose, chlorine trifluoride is used in the production of such chemical. Chlorine trifluoride is one of the major components used in the manufacturing of semiconductors. Chlorine trifluoride has a unique property that it can remove solid residues from walls of chambers without disassembling chambers, making it one of the driving factor. Moreover, technological advancement and continuous innovations in the aerospace industry are expected to lead toward the development and innovation of chlorine application in rocket propellant division. However, chlorine trifluoride gas is highly reactive and toxic, can oxidize itself and might blow-up. This factor is expected to hamper its growth during the forecast period. The critical utilization of chlorine trifluoride in changing uranium into a vaporous form of hexafluoride uranium in the atomic fuel is expected to boost its demand.
- The semiconductor fabricating application portion is expected to witness the fastest CAGR, both for volume and revenue because of the expanding interest for electronic and chamber cleaning items
- Air products had complete acquisition of ACP Europe SA in March 2019, due to which it is expected to growth in the chlorine trifluoride market
- In April 2020, Air products had announced complete acquisition of five steam methane reformer (SMR) hydrogen production plants from PBF Energy Inc. which increased the production capacity to 300 million standard cubic feet per day.
- This development can be credited to the passage of semiconductor fabricating organizations and critical government interests in space investigation exercises.
Key Benefits of the Report
- This study presents the analytical depiction of the chlorine trifluoride industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of chlorine trifluoride market.
- The current market is quantitatively analyzed to highlight the chlorine trifluoride market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed chlorine trifluoride market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the chlorine trifluoride market Report
- Who are the leading market players active in the chlorine trifluoride market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
Chlorine Trifluoride Market Report Highlights
Key Market Players
Central Glass, Nippon Sanso, Taiyo, Air Liquide, Versum Materials, Praxair-Linde, , Kanto Denka, Air Products and Chemicals, Showa Denko