The latest market report published by Credence Research, Inc. “Global Octafluorocyclobutane Market: Growth, Future Prospects, and Competitive Analysis, 2015 – 2027”. The global market has acquired a market size of around USD 0.60 billion in 2020 and expected to reach a healthy CAGR of over 12.1% during the forecast period from 2021 to 2027 to reach around USD 1.19 billion in 2027.
Browse the full report at https://www.credenceresearch.com/report/octafluorocyclobutane-market
Octafluorocyclobutane is a liquefied gas that is odorless, non-toxic, non-flammable and colorless. It’s transported as a liquefied gas that has its own vapor pressure. In the semiconductor industry, Octafluorocyclobutane has been widely adopted as a CVD chamber clean chemistry, replacing C2F6. Chamber clean chemistries that use C4F8 instead of C2F6 have a higher utilization rate and, as a result, emit less PFC from the semiconductor process tool.
Key Trends in Global Market
Various Factors Boosting and Affecting Market Growth
With the increased use of mobile devices such as smartphones and tablets, the demand for semiconductor devices is expected to grow, as is the demand for electronic chemicals and gases. Furthermore, the growth of the food and beverage industry is projected to increase demand for refrigerants, resulting in increased demand for octafluorocyclobutane.
Although octafluorocyclobutane is one of the most inflammable gases, it can also be hazardous. The gas container will burst violently and rocket if it is exposed to a fire or prolonged heat. It’s also used to produce other chemicals. Furthermore, octafluorocyclobutane is chemically inert in a variety of conditions, but it can react violently with strong reducing agents like active metals. As a result, using octafluorocyclobutane is extremely hazardous. In the global octafluorocyclobutane market, the aforementioned factors are expected to be listed as major challenges.
Global Market by End-use Industry Insights
Electronics, Food and Others are the three end-use industries of this market. In 2020, electronics segment led the market as there is high demand from Asia-Pacific, especially from China. China is the world’s largest producer of electronics. Laptops, smartphones, OLED TVs, wires, and cables, as well as other electronic goods, saw the most development in the electronics market. The country not only meets domestic electronic demand, but also exports electronic products to other countries.
The production of electronics is expected to rise further during the forecast period, owing to growing disposable incomes among China’s middle-class population and rising demand for electronic products in countries that import electronic products from China. This, in turn, boost the demand for octafluorocyclobutane in the market.
Global Market by Application Insights
Global market is segmented based on application as Semiconductor Devices, Refrigerant, and Others. The semiconductor devices segment has highest application of octafluorocyclobutane market. Semiconductors, such as silicon and germanium, are electrically conductive materials that fall between conductors and insulators and are commonly used in transistors. They’re also used in telecommunications, consumer electronics, and other products, as well as automotive, electricity, computing, and other fields.
The compound semiconductor market for the power electronics products is expected to register the highest CAGR during the forecast period. This is mainly due to the increasing demand for SiC and GaN power semiconductors in applications such as hybrid and electric vehicles, power supplies, and photovoltaic (PV) inverters. The market is driven by increasing sales of hybrid and electric vehicles. Increasing demand for both battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) will increase significantly in the coming years as many global governments aim to reduce air pollution. It is expected to drive the market for power electronics products.
Global Market by Regional Insights
The global octafluorocyclobutane market is expected to be dominated by developing countries such as China and India, owing to rising demand for consumer electronics goods, which will in turn fuel demand for semiconductor devices, resulting in increased demand for octafluorocyclobutane. In the near future, Asia-Pacific is projected to dominate the global octafluorocyclobutane market.
Due to the relatively steady growth of consumer electronics, North America and Europe are projected to display modest demand growth in the near future. Over the forecast era, the demand in Latin America and the Middle East and Africa (MEA) is expected to slow.
Global Market Competitive Landscape
Most prominent players in the global market include Linde, Praxair, Dongyue Group, Beifang TeQi, Matheson, Airgas, and Juhua Group. The report covers very detailed profiles of these key players.
Global Octafluorocyclobutane Market by End-use Industry, 2015 – 2027
Global Octafluorocyclobutane Market by Application, 2015 – 2027
· Semiconductor Devices
Global Octafluorocyclobutane Market by Region, 2015 – 2027
· North America
· Asia Pacific
· Latin America
· Middle East and Africa
Global Octafluorocyclobutane Market: Key Players
· Dongyue Group
· Juhua Group