The global market is likely to attain a market value of USD 1.19 billion in 2027 from USD 0.60 billion in 2020. The CAGR for this market is likely to reach over 12.1% in during 2021 to 2027.
Octafluorocyclobutane is a non-flammable and colorless gas that is being studied as a possible dielectric gas substitute for sulphur hexafluoride. The compound has also been studied as a refrigerant substitute for ozone-depleting chlorofluorocarbon refrigerants in applications. Although octafluorocyclobutane has been identified as one of the most dangerous gases, it is still used in large quantities in semiconductor devices. The gas can irritate the lungs and cause coughing and shortness of breath when inhaled. Higher levels of exposure to the gases can cause pulmonary edoema and even death. Credence Research is offering holistic information and absolute accuracy on the report titled “Global Octafluorocyclobutane Market”.
Key Market Drivers and Restraints
Factors that have high impact on the market growth of industrial electric vehicles will be covered her. Also, covers factors that may challenge or act as opportunity for market will be discussed in order to identify the revenue generation.
Increasing Demand for Cold Chain
A cold chain is a supply chain that maintains a specific temperature range through a series of storage and distribution activities. It is divided into two sections: refrigerated transportation, which includes refrigerator vans, containers, buses, and rail, as well as surface storage, which includes refrigerated warehouses for storing perishable goods. The food and pharmaceutical industries are the primary end-users of the cold chain, which is driving up demand for octafluorocyclobutane market.
Asia-Pacific to Dominate the global market
On geographic front, the global market comprises six regions with all key economies pertaining to it. Credence Research is providing in-depth insight on prominent regions of global market. Asia-Pacific topped the market by acquiring 32% share in 2020.
Global Market is led by the Electronics in terms of Application Industry
Food, Electronics and Others are the end-use Industries of the global market. In 2020, electronics acquired the highest share in global market. Semiconductors, particle accelerators, and integrated circuits all use electronic grade octaflurocyclobutane. In the semiconductor industry, it is often used as a chamber cleaning gas. The market for electronic grade octaflurocyclobutane is driven by the fact that the gas produces an optimal amount of F radicals for removing Si-based layers from plasma chamber walls.
Semiconductor Devices dominate the global market in 2020 in terms of Application
Semiconductor Devices, Refrigerant and Others are three various applications of this market. Semiconductor Devices has dominated the market in 2020 due to their high application in LEDs which are widely used for general lighting, automotive lighting, and signage displays. LEDs are made up of compound semiconductor materials, which are made up of elements from the periodic table's groups III and V. It is also expected to have rapid growth in the upcoming years.
Frequently asked questions about global industry
- Which are the different Application Industries of this market?
Ans: Electronics, Food, and Others are the different end-use industries available in the market
- Name few prominent players in the global industry.
Ans: Linde, Praxair, Dongyue Group, Beifang TeQi, Matheson, Airgas, and Juhua Group are the key players operating in this market
- Which is the fastest growing Application segment for global industry?
Ans: Semiconductor Devices have high application
- Which is the leading regional market for global industry?
Ans: Asia-Pacific has the largest share owing to various developments happening in this space
- What will be the CAGR (2021 - 2027) of in global industry?
Ans: The market is anticipated to grow at a CAGR of 12.1% throughout the forecast period
