Boron Trifluoride (BF3 Market) Boron trifluoride (BF3) is a...

Boron Trifluoride (BF3 Market)

• Boron trifluoride (BF3) is a compressed, non-flammable gas that is largely used as a catalyst in the chemical, agricultural, petrochemical, and pharmaceutical industries

Boron Trifluoride & Complexes Market

- Published: July 2022 by: FMI
https://www.futuremarketinsights.com/reports/boron-trifluoride-market

Future Market Insights (FMI) has forecasted the Boron Trifluoride & Complexes market to grow with a year on year growth of 5.3% in 2022 reaching a value of about US$ 270.7 Mn by 2022 end. The global business is anticipated to witness a considerable CAGR of 5.3% between 2022 and 2029.

Owing to significant development in the end use sector, the global business of boron trifluoride & complexes is anticipated to witness a considerable growth in the coming years. Chemicals and petrochemicals industries are anticipated to remain prominent consumers of boron trifluoride.

In the chemical sector, application of boron trifluoride as a catalyst is increasing boosting its overall demand. The global boron trifluoride and complexes sales are expected to be fueled by manageable demand for polymers and petroleum industry in the forecast period.

In the pharmaceutical industry, BF3 is used in the production of various medicines. BF3 gas and its complexes are used as catalysts for the manufacturing of drugs, antibiotics and various pharmaceutical intermediates.

Between 2014 and 2021, sales of Boron Trifluoride and Complexes expanded at a CAGR 4.1%, with chemical and petrochemical applications accounting for a key percentage of the global market. Due to the outbreak of the COVID-19 pandemic, which reduced the demand for boron trifluoride and complexes in 2020 and in 2021, sales prospects were hampered, however growth is likely to resume in near future.