The global demand for elemental fluorine is directly correlated to its various advantages over other cleaning gases. The on-site production of fluorine gas is more beneficial and cost effective. Pure fluorine gas performs better than other fluorine gases such as ClF3, NF3, SF6, and F2/N2 mixtures, since inactive components of these gases can compromise the cleaning performance. Fluorine is very effective for dry chamber cleaning. Pure fluorine gas has productivity gains relative to CVD tools, high cleaning performance, and shorter cleaning time, with no environmental impact, and less energy consumption.
The global elemental fluorine market is studied with deep understanding of the macro and forecast factors. PMR forecasts the global elemental fluorine market revenues to grow at a CAGR of ~6% during 2019-2029. The market in APAC region is estimated to witness steady growth due to rapid economic development. The region is estimated to hold a prominent share in the global elemental fluorine market during the forecast period.
Upsurge in Nuclear Energy to Increase Demand for Uranium Hexafluoride (UF6)
According to World Nuclear Association (WNA), the world nuclear capacity is set to continue to grow for the fulfilment of increasing demand for nuclear fuel in the upcoming years. Also, the demand for uranium will increase considerably by the end of 2030 at an optimistic CAGR of ~ 4%. It was approximately 334 GWe in 2013 and is expected to double by 2030, to meet the growing demand for uranium hexafluoride globally.
Conversion process of uranium oxide into uranium hexafluoride is a critical stage of the nuclear cycle. Uranium hexafluoride is a form of uranium, which can be enriched in the nuclear fuel manufacturing process. Conversion plants are expected to operate with high capacity with increasing demand for nuclear fuel. The uranium hexafluoride market is expected to grow with the increasing demand for nuclear fuel, which further drives the market of fluorine gas. These factors are expected to continue to drive the growth of the elemental fluorine market in the near future.
Market to Witness Robust Growth in APAC
In terms of market attractiveness by CAGR index, the APAC region is expected to remain the most attractive in the forecast period. A high growth rate due to considerable industrial activity in the region is expected to contribute to the rising demand for elemental fluorine. Enormous demand for elemental fluorine from countries such as China and India is expected to contribute to the growth of the regional market. The APAC region has gained substantially significant market share compared to North America & Europe, and is projected to continue this performance in the forecast period as well.
Strategic Expansion of Regional Players Driving Market Growth
The elemental fluorine market share is evenly balanced between large players with presence through regional and local distributors. Key strategies include the expansion of production capacities to increase their global and regional footprint in the elemental fluorine market.
For instance, several manufacturers such as
follow the trend of organic expansion to fulfil the increasing demand for fluorine gas in the electronic industry.
A broader view of the elemental fluorine market has led analysts to conclude that the market is growing at an impressive rate with APAC, North America, and Europe regions holding a large share of the elemental fluorine market. The APAC elemental fluorine market is expected to be an opportunistic market in terms of sales. Increasing demand from the chemical manufacturing industry, is expected to positively impact the elemental fluorine market.
The elemental fluorine market is characterized by the presence of few big players from North America, Europe, and APAC regions. The nuclear fuel sector is expected to dominate the elemental fluorine market throughout the forecast period. However, the hazardous impact of elemental fluorine on human body such as it creates etches and may cause painful wounds on human body, when it comes to contact with the skin, are likely to hinder the market growth globally. The scope of increasing applications related to the use of elemental fluorine is estimated to bolster the growth of the market during the forecast period.
Persistence Market Research (PMR) recently published a market study on the global market for elemental fluorine. The study provides detailed assessment on the key market dynamics, including drivers, trends, opportunities, and restraints, along with detailed information about the elemental fluorine market structure. The market study presents exclusive information about how the elemental fluorine market will grow in the forecast period of 2019-2029.
Key indicators of market growth, which include year-on-year (Y-o-Y) growth of the market, value chain, supply chain analysis, and compounded annual growth rate (CAGR) are explained in PMR’s study in a comprehensive manner. This information can help readers understand the quantitative growth prospects of the elemental fluorine market in the forecast period.
The study is relevant for stakeholders in the elemental fluorine market, including elemental fluorine manufacturers, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market. Stakeholders in the elemental fluorine market, investors, industry experts, researchers, and journalists, as well as business researchers can leverage the information and data presented in PMR’s study.
The study also includes statistics as well as facts related to the macro as well as micro economic factors that are impacting developments in the market. It also offers actionable insights based on the future trends in the elemental fluorine market. Furthermore, small businesses and new entrants in the elemental fluorine market too can make use of the information presented in this study, based on which, they can make appropriate business decisions in order to gain momentum in the market.
Key Segments of the Elemental Fluorine Market
PMR’s study on the elemental fluorine market is divided into application and region segments. This report offers comprehensive data and information about the important market dynamics and growth parameters related to these categories.
Key Questions Answered in PMR’s Elemental Fluorine Market Report
Elemental Fluorine Market: Research Methodology
In PMR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the elemental fluorine market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure accuracy and reliability of the conclusions.
Secondary resources referred by analysts during the production of the elemental fluorine market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary resources and secondary resources acts as a validation from companies in the elemental fluorine market, and makes PMR’s projection on the growth prospects of the elemental fluorine market more accurate and reliable.