Los Angeles, December 13, 2019 – QY Research recently published a report titled, “Global Fluorine Gas (F2) Market Report, History and Forecast 2014-2025, Breakdown Data by Manufacturers, Key Regions, Types and Application”. The global fluorine market was valued at nearly US$301 mn in 2018 and is expected to reach estimated US$402 mn by the end of 2025, rising at a CAGR of more than 4.23% between 2018 and 2025.
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Accelerated Demand from Nuclear Power Generation Sector to Boost Market
Global fluorine (F2) market is rising with its increasing number of applications across electronics, solar, and nuclear power generation. For instance, the electronics industry uses F2 as etch cleaning agent. This gas is also used to make sulphur hexafluoride (SF6), which is used as a dielectric medium in electronic application. Furthermore, solar equipment manufacturers are focusing on F2 as an alternative to NF3 due to the latter’s environment-friendly nature. Enrichment of uranium continues to a key application area for industrial fluorine as it plays a crucial role in nuclear power generation and nuclear weapons. The ongoing political instability, the investments in building military arsenals, and focus towards cleaner energy sources are expected to create a positive influence on the global market for fluorine over the forecast years.
Electronic Industry Segment to Fuel Market Growth
The applications of F2 have been relentless across electronics industry with its increasing number of benefits. It is majorly used as dielectric medium and etch cleaning agent in semiconductors. These factors are expect to propel the segment to register a robust growth.
Asia Pacific to Augment Demand as Uranium Enrichment Remains Crucial to Developing Economies
Rapid industrialization and increasing population in countries like India and China are expected to create a massive demand for energy. This has encouraged governments to focus on nuclear energy generation, giving rise to uranium enrichment. Furthermore, strong military bases in emerging economies will also fuel the demand, putting Asia Pacific in the lead as against other regions.
Air Products Qudra and Royal Commission for Jubail and Yanbu have recently signed a MOU to establish world-class industrial gas production and distribution networks facilities in the industrial cities of Royal Commission in the Kingdom of Saudi Arabia. This strategy aims to promote direct investments, improve the services, diversify and enhance economy, and maximize localization.
The various manufacturers covered in the report includes Linde, Solvay, Air Products, Kanto Denka, Hyosung Chemical, Zhuoxi Gas, Central Glass, and others.
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