Nitrogen Trifluoride (NF3) Market, By Type (Chemical Synthesis, Electrolyzing Synthesis), By Application (Semiconductor, Flat Panel Display, LED, Solar PV Cells, Others), and Region - COVID-19 Impact Analysis and Forecast to 2026
Nitrogen Trifluoride (NF3) Market, By Type (Chemical Synthesis, Electrolyzing Synthesis), By Application (Semiconductor, Flat Panel Display, LED, Solar PV Cells, Others), and Region - COVID-19 Impact Analysis and Foreca...
The Nitrogen Trifluoride (NF3) Market is estimated to grow from USD 1.3 billion in 2020 to USD 2.6 billion by 2026 at a healthy CAGR of 12.4% during the forecast period.
Nitrogen Trifluoride (NF3) is an inorganic compound, which is non-flammable and colorless. Nitrogen Trifluoride was not found in abundance on earth until laboratory production. NF3 is extensively used in the production of silicone-based thin film in photovoltaic production, semiconductors, and is also used as a fluorine source to remove chemicals such as silicone.
Covid-19 Impact Analysis
The COVID-19 pandemic has adversely affected the Nitrogen Trifluoride (NF3) industry. Industries such as automotive and textile witnessed complete shutdown of operations. Also supply chain disruptions, further negatively influenced the market growth amid the pandemic.
Key Players
Key players operating in the global Nitrogen Trifluoride (NF3) Market are-
Mitsui Chemical (Japan)
SK Materials (South Korea)
Kanto Denka Kogyo (Japan)
Hyosung (South Korea)
American Gas (US)
Central Glass (Japan)
Navin Fluorine International (India)
Ulsan Chemical (South Korea)
Anderson (US)
Air Products (US)
Market Dynamics
The Nitrogen Trifluoride (NF3) market is majorly propelled by strong demand for nitrogen trifluoride in the production of fluoride compounds. They are extensively used in the electronics sector for the production of semiconductors for solar panels, display panels, and other electronic devices. Moreover, there are widely used for remove silicone from the semiconductors, cleaning semiconductors, and other electronic devices, thus boosting the market growth in the coming years.
Segment’s Analysis
Application Trends
Based on application, the nitrogen trifluoride (NF3) market has been classified into semiconductor, flat panel display, led, solar PV cells, and others. The solar PV cells segment accounted for the largest market in 2020 owing to an increasing adoption of solar power generation. NF3 has been widely used for texturing the thin films and the reactor cleaning of the film silicon deposition, which further augments the segment growth during the forecast timeline.
Regional Trends
By region, the North American Nitrogen Trifluoride (NF3) market accounted for a significant share in 2020 and is expected to grow at a robust CAGR during the review period. The Nitrogen Trifluoride (NF3) market growth is mainly attributed to consistent technical advancements and supportive policies to use renewable energy sources such as solar power, which further augments the market expansion.
The Asia Pacific Nitrogen Trifluoride (NF3) market held a substantial share in 2020 and is expected to grow at a robust CAGR during the review period. The Nitrogen Trifluoride (NF3) market growth is mainly attributed to well-established LED, semiconductor, and solar PV cell production, further bolsters the regional market growth.
Critical Questions Answered in the Report
This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global Nitrogen Trifluoride (NF3) market. The historic years considered for the study are 2016-2019, base year is 2020, estimated year is 2021, and forecast period is 2022-2026. Following are the critical questions answered in the report.
What are the key trends in the global Nitrogen Trifluoride (NF3) market?
How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
What is the impact of COVID-19 on global Nitrogen Trifluoride (NF3) market?
What are the key strategies adopted by the major vendors to lead in the global Nitrogen Trifluoride (NF3) market?
The target audience of Nitrogen Trifluoride (NF3) Market includes-
Nitrogen Trifluoride (NF3) Vendors
Nitrogen Trifluoride (NF3) Manufacturers
Nitrogen Trifluoride (NF3) Distributors
Organizations
Government Bodies.
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The Global Nitrogen Trifluoride (NF3) Market is estimated to grow from USD 1.3 billion in 2020 to USD 2.6 billion by 2026 at a healthy CAGR of 12.4% during the forecast period.
Key players operating in the global Nitrogen Trifluoride (NF3) Market are- Mitsui Chemical (Japan), SK Materials (South Korea), Kanto Denka Kogyo (Japan), Hyosung (South Korea), American Gas (US), Central Glass (Japan), Navin Fluorine International (India), Ulsan Chemical (South Korea), Anderson (US), Air Products (US).
The Nitrogen Trifluoride (NF3) market is majorly propelled by strong demand for nitrogen trifluoride in the production of fluoride compounds. They are extensively used in the electronics sector for the production of semiconductors for solar panels, display panels, and other electronic devices.
North American Nitrogen Trifluoride (NF3) market accounted for a significant share in 2020 and is expected to grow at a robust CAGR during the review period.
