Growth in uranium production coupled with increasing solar power generation to fuel market demand
San Francisco, California (PRWEB) September 08, 2014
Global NF3 and F2 market is expected to reach USD 1,266.8 million and USD 17,526.0 million respectively by 2020, according to a new study by Grand View research, Inc. Growing demand for LCD televisions, owing to their low power consumption, is expected to drive NF3 demand in silicon wafer cleaning applications. F2 demand for uranium enrichment is expected to surge in line with uranium production as a result of growth in nuclear power production.
Semiconductor chips were the largest application segment for NF3 with a demand of 6.9 kilo tons in 2013 owing to growth in semiconductor industry in Asia Pacific. F2 was widely used in uranium enrichment making it the largest application segment in 2013 accounting for demand of 26.5 kilo tons. Fluorine is used in the form of UF6 in order to impart fissionable properties to uranium isotopes.
The report “NF3 & F2 Market Analysis By Application (Semiconductor Chips, Flat Panel Display, Solar Cells, Uranium Enrichment, Sulfur Hexafluoride, Electronic Cleaning) And Segment Forecasts To 2020,” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/nf3-and-f2-market
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Further key findings from the study suggest:
- Global NF3 demand was 15.1 kilo tons in 2013 and is expected to reach 34.2 kilo tons by 2020, growing at a CAGR of 12.4% from 2014 to 2020. Global F2 demand was 56.3 kilo tons in 2013 and is expected to reach 129.2 kilo tons by 2020, growing at a CAGR of 12.6% from 2014 to 2020.
- Flat panel display is expected to be the fastest growing application of NF3 at a CAGR of 12.9% from 2014 to 2020, owing to high demand for LCD televisions. In the global F2 market, electronic cleaning is expected to be the fastest growing application at a CAGR of 13.9% from 2014 to 2020 mainly due to growing consumer base of electronic devices as a result of wider application scope.
- Asia Pacific had the largest demand for NF3 and F2 accounting for 9.9 kilo tons and 25.5 kilo tons in 2013, respectively. The region is also expected to witness fastest growth, at a CAGR of 12.9 % and 13.5% from 2014 to 2020 in the NF3 and F2 market respectively.
- Key market participants include Mitsui Chemicals, OCI Materials Co Ltd, Foosung Co Ltd, Hyosung Corporation, Linde AG, Navin Fluorine International Ltd, American Gas Group, Central Glass Co. Ltd, Formosa Plastics, Kanto Denka Kogyo Co ltd and Ulsan Chemical Co Ltd
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For the purpose of this study, Grand View Research has segmented the global NF3 and F2 market on the basis of application, and region:
- NF3 Application Outlook (Volume, Tons; Revenue, USD Million, 2012 - 2020)
• Semiconductor Chips
• Flat panel Displays
• Solar Cells
- F2 Application Outlook (Volume, Tons; Revenue, USD Million, 2012 - 2020)
• Uranium Enrichment
• Sulfur Hexafluoride
• Electronic Cleaning
- NF3 and F2 Regional Outlook (Volume, Tons; Revenue, USD Million, 2012 - 2020)
• North America
• Asia Pacific
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