The development of environment-friendly production process with minimum greenhouse gas emissions would be the next pillar of growth for the global elemental fluorine industry. With this projection, Persistence Market Research, in its lately published report titled “Elemental Fluorine Market: Global Industry Analysis and Forecast, 2016–2024,” has come up with a solution oriented approach through which partnerships can be strengthened with major raw material distributors with long-term contracts to gain better output in this market. Rising pollution is a matter of grave concern; however, while studying this market the analysts have observed that the manufacturers have to develop a low-cost production process by using alternative to expensive metals. While targeting the applications, the analysts have noticed that glass and ceramics manufacturing and electronics and semiconductor is expected to expand at a relatively higher CAGR in terms of value and volume. On the other hand, nuclear fuel is assessed to account for a major share in the global elemental fluorine market. The expert team of analysts have observed that among all the regions, sales of elemental fluorine in Asia Pacific is expected to grow at a relatively higher CAGR followed by MEA and North America. APAC is also expected to account for a dominant share in the global elemental fluorine market over the forecast period.
In the global elemental fluorine market, importance has been given to new product launches, increasing supply through new capacity expansion and new acquisitions and introducing new technologies for cost-effective and environmentally friendly manufacturing. The report demarcates market dynamics that are predicted to influence the current market and the future status of the global elemental fluorine market over the forecast period. The principal objective of the report is to present insights on the many advancements that have already been made in the global elemental fluorine market.
Inflation has not been considered to arrive at market revenue at subsequent levels of market segmentation. Macroeconomic indicators such as GDP, industrial automation and equipment, nuclear energy and chemicals have been considered while forecasting market numbers. The report commences with the market overview which explains the global elemental fluorine market and provides key market definitions. The section that follows discusses market dynamics including market drivers, restraints, opportunities, trends and key regulations. The report provides detailed market share analysis, Y-o-Y growth and market attractiveness analysis on the basis of applications of elemental fluorine. A section of the report sets the forecast within the context of the global elemental fluorine market which includes new technological developments as well as product offerings for various applications of elemental fluorine. In the final section of the report, a competitive landscape has been provided to provide a dashboard view of some of the key players operating in the global elemental fluorine market. Detailed profiles of the some of the manufacturers have also been included within the scope of the report to evaluate their long-term and short-term strategies, recent developments and key offerings in the global elemental fluorine market.
Key Segments Covered
In-depth secondary research is used to arrive at the overall market size, top industry players, top products, and industry associations. For secondary research, the analysts have taken reference from various company websites, annual reports, white papers and financial reports. Paid publications such as Factiva, GBI, Genios and Meltwater have been followed to do extensive research on this market. A detailed analysis has been provided for every segment in terms of market size of the global elemental fluorine market. The report not only conducts forecast in terms of CAGR but also analyzes the market based on key parameters like Y-o-Y (year-on-year) growth to interpret the predictability of the market as well as to identify the right opportunities for market players. Another key feature of this report is that it includes an analysis of all market segments in terms of absolute dollar opportunity. Absolute dollar opportunity is crucial in evaluating the level of opportunity that a provider can look to achieve. It also helps identify potential resources from a sales and delivery perspective in the global elemental fluorine market.
China, India and Japan are expected to hold more than 80% share of the Asia Pacific elemental fluorine market over the forecast period
Asia Pacific in the global elemental fluorine market was anticipated to account for a market value share close to 40% by the end of 2016 and is estimated to gain more than 700 BPS by the end of the forecast period. Asia Pacific is likely to reach a market valuation of close to US$ 500 Mn by the end of 2024, registering a prominent CAGR of 9.5% by value. Growth of the electronics and semiconductor industry and electrical industry is the major driver for the development of the elemental fluorine market in the Asia Pacific. This region in the global elemental fluorine market is anticipated to create incremental opportunity of more than US$ 250 Mn between 2016 and 2024. Market attractiveness analysis of Asia Pacific is anticipated to be rated 5.0 on the attractiveness index over the estimated period, which indicates an incline towards high growth-high value between 2016 and 2024.
The demand for uranium hexafluoride is projected to increase with increasing demand for nuclear energy for electricity purposes in APAC
Sulfur hexafluoride (SF6) is a powerful greenhouse gas. It absorbs infrared radiation and has an extremely long atmospheric lifespan. SF6 finds application in the manufacturing of electrical equipment. The demand for electricity is increasing continuously especially in developed nations and some developing nations such as China and India, which drives the demand for electrical equipment and in turn propels the demand for fluorine gas in the APAC region. Conversion is a critical stage of the nuclear fuel cycle, where chemical processes convert uranium oxide to uranium hexafluoride. It is a form of uranium that can be enriched in the next stage of the nuclear fuel manufacturing process. It is assumed that conversion plants are running at about 70% capacity. But after 2017, it should be operated with over 70% capacity, with increasing demand for nuclear fuel. With the increasing demand for nuclear fuel, the market for uranium hexafluoride is likely to grow, which further drives the market for fluorine gas in the Asia Pacific region.
Pure fluorine gas performs better when compared to other fluorine-bearing gases such as NF3, ClF3, F2/N2 mixtures and SF6, as the inactive components of these gases can compromise the cleaning performance. Pure fluorine gas has relatively high cleaning performance, shorter cleaning time, productivity gains relative to CVD tools with less energy consumption and no environmental impact. For instance, fluorine is a good replacement for nitrogen trifluoride gas. On the other hand, NF3 is a 17,200 times more potent greenhouse gas than carbon dioxide. The replacement of NF3 with fluorine gas decreases both the consumed gas volume and the cleaning time, which helps increase productivity. This factor is expected to boost the market for fluorine gas in APAC.
Nuclear fuel segment expected to witness relatively high growth over the forecast period in APAC
By application, the nuclear fuel segment is anticipated to be an attractive segment followed by sulphur hexafluoride and halogen fluoride. The nuclear fuel segment was estimated to account for more than 50% revenue share of the Asia Pacific elemental fluorine market in 2016 and is projected to gain more than 150 BPS between 2016 and 2024. Increasing nuclear energy and sulphur hexafluoride requirement in the electrical industry are expected to fuel the growth of the elemental fluorine market in the Asia Pacific region. The electronics and semiconductor segment is also expected to grow at a moderate growth rate of 9.5% by value over the forecast period. Market attractiveness analysis of this segment is predicted to be rated 1.1 on the attractiveness index over the calculated period, which indicates an incline towards medium growth-medium value between 2016 and 2024.