The report is titled ‘Boron Trifluoride Market: Future Opportunities and Trend Analysis 2022-2030’. The report highlights insights into the current market scenario, key expectations, and future trends and expectations from the market. The boron trifluoride market is expected to register impressive growth in the near future due to growing petrochemical industries and growing demand for plastic and increasing demand for pharmaceuticals and agrochemicals are anticipated to fuel the consumption rate of BF3.
The boron trifluoride market is estimated to reach at a value of US$ 2,49,070.4 Thousand by the end of 2022 and expected to grow at a CAGR of 5.2% during the forecast period of 2022 to 2030.
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Boron Trifluoride Introduction
Boron Trifluoride is a compressed, non-flammable gas with a strong Lewis acidic nature, exhibits strong affinity for electron pair and thus forms a wide range of complexes. This inorganic compound along with its complexes are amongst strongest Lewis acids, often used as acid catalysts in several reaction for synthesis of organic compounds. Commonly used BF3 complexes are either solids or liquids and are relatively easier for transportation and storage as compared to BF3 gas. BF3 can be used in the form of gas or in the complexes form and the properties can be altered by changing the coordinating reagent for tailored applications. The inorganic compound is widely used as catalyst for several reactions including polymerization, isomerization, alkylation and for synthesis of a variety of chemicals. Generally boron trifluoride is manufactured by reacting boron oxide with hydrogen fluoride.
Boron Trifluoride Market Dynamics – Growing Petrochemical Industry is fueling the growth of BF3
Boron trifluoride is among the strongest Lewis acid, thus it is used as a catalyst in various chemical reactions which includes polymerization, alkylation, esterification, isomerization, acylation and many others. Several number of polymer derivatives are manufactured in the presence of boron trifluoride like polyethylene, polypropylene, polyethers and others. Boron trifluoride gas and its complexes are used for the manufacturing of rubber and other elastomeric polymers which are increasing being used in various industries. Furthermore, boron trifluoride are used in the production of several range of hydrocarbons such as, aromatic hydrocarbons, unsaturated hydrocarbons, alcohols, phenols, etc. With the significant growth in the petrochemical industries and significant demand for plastics and other petrochemical products, consumption rate of boron trifluoride is also anticipated to witness a significant growth rate during the coming years. Moreover, significant growth in the demand for hydrocarbon synthesis and various other chemicals in the oil and gas industries are also bolstering the sales of boron trifluoride. Strong refinigng rate of crude oil is expected to drive the demand for boron trifluoride as a catalyst. Furthermore, significant production rate of plastic i.e., 370 million tons all over the globe is also providing space for BF3 gas for polymerization and isomerization reactions.
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Boron Trifluoride Market Segmentation
The global boron trifluoride market is segmented on the basis of product type, application, grade, end use, and region.
By Product Type:
- BF3 Gas
- BF3 Di Ethyl Etherate
- BF3 Tetrahydrofuran Complex
- BF3 Methanol Complex
- BF3 Acetonitrile Complex
- Chemical Intermediate
By End Use:
- Polymers and Petrochemicals
- North America
- Latin America
- Asia Pacific
- Middle East
Boron Trifluoride Market Key Players
The prominent players in the market of boron trifluoride includes Honeywell International, Praxair Inc. (Now Linde plc), Arkema S.A., 3M, Matheson Tri Gas, Air Liquide, Vortex and many others. The key players are focusing on enhancing their market footprint to dominate over the market. They are also investing a fair share of their annual turnover in research and development to cater the growing demand from the end use industries.
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