Boron Trifluoride and Complexes Market

Boron Trifluoride and Complexes Market Size Analysis

According to a recent survey conducted by ChemView Consulting, the Global Boron Trifluoride and Complexes Market grew at a CAGR of 4.6% between 2017-2021 and is estimated to be US$ 298.7 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 5.5% and is expected to reach a valuation of US$ 510.2 Mn by 2032 end.

Throughout the projected period, the market is anticipated to grow in response to the Growing demand for boron trifluoride in the chemical industry. Its applications to various products are expected to positively impact the global boron trifluoride and complexes market during the forecast period.

Market Dynamic

GROWING DEMAND FOR CHEMICALS WILL BOOST THE MARKET FOR BORON TRIFLUORIDE AND ITS COMPLEXES

The global chemical industry is a rapidly expanding sector that is heavily dependent on industrial chemicals. The use of boron trifluoride and BF3 diethyl etherate complex as catalysts for various chemical reactions, including hydroxy fatty acid synthesis, alkylation of aromatics, and paraffin isomerization, has increased globally over the years to meet the demand for more efficient chemical products ensuring market growth during the forecast period.

STRICT REGULATIONS IMPOSE BY GOVERNMENT HAMPER THE MARKET GROWTH

The boron trifluoride market has been steadily growing in recent years and this trend is likely to continue during the forecast period. The transportation of boron trifluoride is associated with strict monitoring, which might hamper market growth, for instance, due to the closely-regulated storage of boron trifluoride required by governing bodies. However, it is possible that the Boron Trifluoride market can become an increasingly popular choice among users due to its many advantages over current alternatives.

THE RISE IN THE PHARMACEUTICAL INDUSTRY WILL CREATE MORE OPPORTUNITIES FOR THE MARKET

In the upcoming years, there are expected to be a lot of opportunities for the adoption of Boron Trifluoride and Complexes systems due to Boron trifluoride and its complexes being used in the pharmaceutical industry where they are utilized in the production of different pharmaceutical intermediates. Increasing production and exports of pharmaceutical drugs to drive the growth in the demand for boron trifluoride and its complexes.

COVID-19 Impact

The market was negatively affected due to the impact of COVID-19. Disruption in the supply chain and temporary shutdown of factories hindered the business in the market. Market players adopted new strategies to withstand the unprecedented situations amid the pandemic.

However, it is anticipated that the boron trifluoride market is expected to show steady growth during the forecast period. The market is buoyed by increasing demand for the same from various end-use industries, particularly the chemical and pharmaceutical sectors. The market value might catch up to the pre-COVID-19 value until 2027.

Market Segments Covered in Report

By Type:

• BF3 (Gas)
• BF3 Tetrahydrofuran Complex
• BF3 Methanol Complex
• BF3 Diethyl Etherate Complex
• BF3 acetonitrile Complex
• Others

By Application:

• Catalyst
• Chemical Intermediate
• Others

By End Use:

• Polymer and Petrochemicals
• Pharmaceuticals
• Electronics
• Agrochemicals
• Others

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Why is BF3 Diethyl Etherate Complex projected to ensure the most revenue during the forecast period?

At 45.0% of the market, BF3 Diethyl Etherate Complex had the greatest revenue share. Boron diethyl etherate complex is an important Lewis acid catalyst used in a wide range of reactions such as acetylation, alkylation, dehydration, and dehydration. It can also be employed in manufacturing sensitive neutron detectors in ionization chambers among others. The boron diethyl etherate complex market is expected to grow due to its versatile nature and increasing applications.

Why is the chemical industry segment expected to expand the fastest during the forecast period?

In 2021, The growth in the demand for the chemical industry owing to increasing production and processing activities is projected to contribute to the BIF intermediate (II), including boron trifluoride and its complexes market. The chemical industry dominates the boron trifluoride and complexes market with a larger share due to its vast usage trends in various applications such as polymerization, isomerization, alkylation, etc.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• In 2021, the Asia Pacific market held a sizeable revenue share of 48.9%. Boron trifluoride and complexes are used in several chemical processing operations ranging from the synthesis of acetals, ketals, and indoles to paraffin isomerization and aromatic hydrocarbon alkylation.
• The U.S. is the main driver of regional growth in North America, which has the second-largest proportion of the Boron Trifluoride and Complexes market. North America has been and will continue to be the fastest-growing market for petrochemicals. Growth in shale gas drilling in North American countries like the U.S. is likely to boost market growth even further.

Competition Analysis

The R & D industry has a vital role in the manufacturing process by developing new technology and machinery. Over the past few years, a shift of manufacturers and their focus toward emerging regions has been witnessed to meet the increasing demand for mono-propylene glycol. Several key players are also focusing on expanding their production capacities, product launches, R & D, and increasing mergers & acquisition activities.

Some of the key developments that have taken place in the Boron Trifluoride and Complexes Market include:

• In May 2020, The boron-neutron capture therapy (BNCT) system’s novel boron medication, Steboronine, was unveiled by Stella Pharma Corporation. By introducing this new product, the corporation improved its ability to develop new products with the use of boron compounds.
• In September 2017, In Taiwan, two facilities for the production of electronic special gases (ESGs) were developed by Linde LienHwa, a member of the Linde Group and a major supplier of gases and chemicals to the electronics sector.

A list of some of the key suppliers present in the 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.
• Wujiang City Fuhua Chemical Co., Ltd.

Report Coverage and Highlights

• Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
• Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
• The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
• Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
• Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
• Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
• Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
• Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
• Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
• Strategic market analysis, recommendations, and future headways on crucial winning strategies.