Nitrogen Trifluoride and Fluorine Gas Market Size, Share, Growth Analysis, By Type(Gas and Liquid), By Application(Electronics and Chemicals), By Region - Industry Forecast 2024-2031

Global Nitrogen Trifluoride And Fluorine Gas Market size was valued at USD 3.7 billion in 2022 and is poised to grow from USD 3.8 billion in 2023 to USD 4.3 billion by 2031, growing at a CAGR of 1.60% during the forecast period (2024-2031).

In terms of consumer demand, commercial applications, and other factors, the global electronics sector is expanding quickly. The United States, Germany, Japan, and the United Kingdom are the other major electronic markets after China. China is predicted to generate USD 0.3 billion in income by the end of 2023. High demand for several chemicals, including nitrogen trifluoride and fluorine gas, for electronics cleaning applications has been seen in China and the rest of Asia Pacific, where regional product formulators and electronics manufacturers are becoming more prevalent. Furthermore, it is anticipated that the market demand for electronic cleaners in North America and Europe would rise because to the rising consumer spending on mobile phones, laptops, smart televisions, and automobile dashboard displays.

Over the next few years, it is projected that these factors will increase demand for NF3 and F2 in these areas. Fluorinated gases' potential for toxicity is likely to limit industry growth in the years to come. A refrigerant's flammability refers to its capacity to ignite and result in combustion or fire. Flammability is the ability of a mixture to self-propagate a flame for a specific distance. Simply said, toxicity is the amount that turns a substance into a poison. All compounds have the potential to become poisonous in large enough quantities. The dosage necessary to produce harm and, in certain situations, repeated exposures make a distinction between substances that are safe and those that can be regarded as toxic.

US Nitrogen Trifluoride and Fluorine Gas Market is poised to grow at a sustainable CAGR for the next forecast year.