Boron trifluoride is an inorganic compound, most importantly utilized as reagent in organic synthesis, generally as Lewis acid. It is widely utilized to initiate polymerization reactions of unsaturated compounds like polyethers. Further, it is used as a catalyst in Mukaiyama aldol addition, acylation, isomerization, alkylation, dehydration, esterification, condensation, and some other reactions.
According to Future Market Insights, the global market for boron trifluoride and complexes is projected to witness expansion at 5.6% CAGR over the assessment period to reach estimated market valuation of US$ 363 Mn by 2027-end, raised from US$ 221 Mn by the end of 2018.
Following key points have been excerpted from an exclusive interview between a market researcher and industry analysts.
Why do you think the market hasn’t been growing as expected?
Well, stringent regulation sets by government have been penetrating to transportation and logistics, manufacturing as well as packing of boron trifluoride is hindering growth of the market to certain level. The nature of the BF3 being corrosive in the form of gas is the key restraint for the growth of the market. Further, Increased cost related to the utilization of boron trifluoride as well as shortage of unloading of gas services in Latin America and MEA is the other major factor impacting growth of the market.
What according to you will be the end-users of the boron trifluoride?
According to me, pharmaceuticals, agro chemicals, polymers and petrochemicals and electronics are the key end-users of the market. The demand for boron trifluoride is large from the polymer & petrochemical industry. In fact the industry is anticipated to expand at significant expansion rate through 2027. The polymer & petrochemical segment is slated to witness expansion at 5.9% CAGR during 2017-2027.
Why do you think the BF3 gas segment will gain significant growth?
Well, the BF3 gas has wide range of application in different end use industries. In fact, the segment had procured 68.6% share of the market in the year 2017. Therefore, it is forecasted that the segment will gain significant expansion over the forecast period.
Do you think the demand for boron trifluoride will increase in APEJ region and why?
Yes, the demand for boron trifluoride will be increased in the APEJ region due to considerable growth of polymer and petrochemical industries, particularly in emerging economies such as India and China. The market for boron trifluoride and complexes in the APEJ region is expected to witness expansion at 6.3% CAGR during 2017-2027.
According to you, what will be the major application of boron trifluoride?
Well, the boron trifloride will be mostly applicable in the form of catalyst. Number of application as catalysts has been seen in various end-use industries throughout the world. The catalysts segment is anticipated to expand at 5.5% CAGR through 2027.
What according to you will be the leading companies in the market?
Chemical Co., Ltd., BASF SE, Tanfac Industries Ltd., Stella Chemifa Corporation, Matheson, Arkema, Honeywell International Inc., Gulbrandsen, Entegris, Inc., Qingzhou Chenkai, and Voltaix LLC (acquired by Air Liquide) are the prominent players in the market. Further, Wujiang City Fuhua Chemical Co., Ltd., The Linde Group, ZIbo Shuanglian Petroleum & Chemical Co., Ltd., and Hunan Heaven Materials Development Co. are have consolidate their position in the market in recent past.
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