Another report released by QY Research in the domain of chemicals and materials titled, “Global Nitrogen Trifluoride (NF3) (MCP-1381) Market Report, History, and Forecast 2014-2025.” This report provides a comprehensive analysis of the global nitrogen trifluoride market by offering key insights about the factors that are likely to encourage the growth opportunities of the market in the coming years.
According to the report, the global nitrogen trifluoride (NF3) (MCP-1381) market is likely to touch the valuation at US$2320 mn by 2025 from US$ 1140 mn in the year 2018. The market is expected to register a robust CAGR of 10.7% throughout the forecast period.
Global Nitrogen Trifluoride (NF3) Market: Drivers
The significant development in the consumer electronics market is one of the key factors driving market growth. This is because of the growing demand for semiconductors that plays a vital role in the development of modern electronics as well as emerging technologies such as internet of things (IoT), and artificial intelligence (AI).
The growing demand for LCD televisions and various other electronic products are expected to raise the demand for nitrogen trifluoride. Factors such as increasing focus of the key players on the expansion of the end-use industries and various government initiatives to encourage the use of nitrogen trifluoride are likely to propel the growth of the market during the forecast period.
Global Nitrogen Trifluoride (NF3) Market: Regional Outlook
Asia Pacific is expected to lead the market in the near future. This is attributed to the developing of the semiconductors and consumer electronics markets especially in the emerging economies such as India and China. The increasing demand for flat panel display market is one of the other factors that escalate the growth of the market in this region. North America and Europe are also likely to grab a remarkable market share in the coming years. The growing research and development activities in the regions are likely to propel the growth of the market over the forthcoming years.
Global Nitrogen Trifluoride (NF3) Market: Forecast by Segments
On the basis of applications, the market is segmented into solar cells, semiconductor chips, and flat panel display. Based on the product type, the global nitrogen trifluoride (nf3) market is segmented into electrolyzing synthesis and chemical synthesis.
Global Nitrogen Trifluoride (NF3) Market: Key Players
The major players operating in the market are Central Glass, SK Materials, Shandong FeiYuan technology, Hyosung, Liming Research Institute of Chemical Industry, Kanto Denka Kogyo, Mitsui Chemical, Versum Materials, and PERIC.
Global Nitrogen Trifluoride (NF3) Market: Competitive Landscape
Companies are planning to adopt safety measures for their employees so that they can greatly improve worker performance. By identifying the safety needs of an organization, and appropriate methods are performed to reduce the risk of illness and injuries among employees doing work. For instance, SK Materials has introduced a safety measure policy for the factory to avoid accidents.
Full Report Overview@ https://www.qyresearch.com/index/detail/1121402/global-nitrogen-trifluoride-nf3-market