Rapid Agrochemical Industry Growth in APEJ to Fuel the Global Boron Trifluoride and Complexes Market During 2017 – 2027
The global boron trifluoride and complexes market is expected to expand at a CAGR of 5.6% during the forecast period in terms of value. Growing demand from the polymers and petrochemicals industry is anticipated to create significant opportunities in the market. According to a new report by Future Market Insights titled “Boron Trifluoride and Complexes Market: Global Industry Analysis 2012-2016 and Opportunity Assessment 2017-2027,” the global boron trifluoride and complexes market is estimated to be valued at US$ 221 Mn by 2018 end and reach US$ 363 Mn by the end of 2027. The market is projected to represent incremental $ opportunity of US$ 152.4 Mn between 2017 and 2027. Asia Pacific is expected to account for a significant share of the overall incremental opportunity in the global boron trifluoride and complexes market between 2017 and 2027.
Global Boron Trifluoride and Complexes Market: Challenges
- Stringent regulations pertaining to manufacturing, transportation and logistics and packaging of boron trifluoride to hinder market growth to a certain extent
- Highly corrosive nature of BF3 in gaseous form is another growth restraint
- High costs associated with the use of boron trifluoride and lack of gas unloading facilities in the LAMEA region is another challenge impacting market growth
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Global Boron Trifluoride and Complexes Market: Forecast by End Use Industry
On the basis of end use industry, the global boron trifluoride and complexes market is segmented into agro chemicals, electronics, pharmaceuticals, polymers & petrochemicals, and others. Polymers & petrochemicals segment is expected to witness significant growth in terms of market value, CAGR and incremental $ opportunity between 2017 and 2027. This segment is estimated to register a 5.9% CAGR over the forecast period. Polymers & petrochemicals industry growth has been looking upward and is expected to continue to drive revenue growth of the boron trifluoride and complexes market over the next few years.
Global Boron Trifluoride and Complexes Market: Forecast by Application
Segmentation by application includes catalyst, chemical intermediate and others. Catalyst segment is expected to witness stagnant Y-o-Y growth and is projected to expand at a CAGR of 5.5% over the forecast period. There has been rising demand from end use industries across the globe due to an increase in the number of applications of boron trifluoride.
Global Boron Trifluoride and Complexes Market: Forecast by Type
On the basis of type, the global boron trifluoride and complexes market is segmented into BF3 Acetonitrile Complex, BF3 Methanol Complex, BF3 Tetrahydrofuran Complex, BF3 Di Ethyl Etherate, BF3 Gas, and Others. BF3 gas segment accounted for 68.6% value share of the global market in 2017. Revenue share of this segment is projected to gain significant growth during the forecast period, as BF3 gas finds applications in various end use industries.
Global Boron Trifluoride and Complexes Market: Regional Forecast
The APEJ regional market is expected to witness significant growth in the global market and is anticipated to gain 360 BPS in 2027 as compared to 2017, with a growth rate of 6.3% during the forecast period. There has been significant growth in the polymers & petrochemicals industry in the Asia Pacific Region, especially in the fast growing economies of China and India. This, in turn, is expected to drive the demand for boron trifluoride in the APEJ region.
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Global Boron Trifluoride and Complexes Market: Competitive Landscape
Some of the top companies operating in the global boron trifluoride and complexes market are BASF SE, Voltaix LLC ( acquired by Air Liquide), NAVIN FLUORINE INTERNATIONAL LIMITED, Praxair Technology, Inc., Honeywell International Inc., Stella Chemifa Corporation, Matheson, Tri-Gas Inc., Arkema, Gulbrandsen, Entegris, Inc., Tanfac Industries Ltd., Qingzhou Chenkai, Chemical Co., Ltd., The Linde Group, Hunan Heaven Materials Development Co., ZIbo Shuanglian Petroleum & Chemical Co., Ltd., and Wujiang City Fuhua Chemical Co., Ltd.