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Triflic Acid Market By Type (99.5% Type, 99.9% Type, Others), By Application (Chemical Industry, Pharmaceutical Industry, Electronics Industry, Other): Growth, Future Prospects & Competitive Analysis, 2015 - 2027

Market Insights

Colorless, extremely viscous, and hygroscopic triflic acid is a hygroscopic solvent. It's known as the acid's strong cone. Triflic acid is well-known for its use as an etherification catalyst in science. Since triflic acid is one of the strongest acids, it causes extreme burns and tissue damage when it comes into contact with the skin. Furthermore, it causes deadly spasms and edema when inhaled. Triflic Acid is growing in consumption at a moderate yet steady pace and is likely to bystander CAGR of over 3.75% during analysis time. The total revenue generated by the global Triflic Acid industry was valued at around USD 120 million in 2020 and most probably will touch the USD 360 million markets by the end of 2027.

Global Triflic Acid Market

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Ever Increasing Consumption of Organic Chemical

Organic synthesis is growing at a rapid pace around the world. Many organic synthesis Applications are carried out using Triflic Acid. Various chemical and physical properties of Triflic Acid made it a perfect aid in carrying out organic synthesis reactions. Triflic Acid has a very low boiling point, firm acidity, and high dielectric constant, making it a perfect catalyst in pharmaceutical intermediates and agrochemicals preparations. Moreover, Triflic Acid acts as an excellent leaving group compared to tosylate, hence growing in its adoption across various organic synthesis Applications. Triflic acid applications range from esterification to reductions, oxidations, condensations, hydroacylations, etherification, alkylation, acylation, cationic rearrangement, functional group deprotection, etc. Chemical manufacturing is the leading application industry for Triflic Acid, with over 40% share in total volume consumption and revenue generated in 2020.  

Adverse Effects on Human Health   

Triflic Acid is one of the strongest acids in use on an industrial scale. However, it can cause severe burns when it gets into contact with the skin. Moreover, it results in edema and inflammation if inhaled. Hence, it should be used with great caution, and human involvement in handling Triflic Acid should be minimum.     

Impact of COVID 19

Chemical manufacturing has been affected to a great extent over the last few months owing to the disruption that occurred in the supply chain. This has resulted in a considerable downturn in the production and consumption of organic chemicals worldwide. The impact was so severe on the organic chemicals industry that it is expected to take several months to reach pre-COVID 19 levels. Meanwhile, the cumulative losses fetched by the industry can be recovered and may prove to be fatal for the future growth of this industry. However, with the increasing speed of vaccination and restoration of supply chains, the industry is expected to be back on track slowly.

Global Triflic Acid Market

Asia-Pacific to Dominate the global Triflic Acid market

The Asia Pacific has emerged as a chemical manufacturing hub of the world over the past two decades, which can be simply attributed to the huge growth of the chemical manufacturing industry in China, India, South Korea, and Japan. Backed by a strong Application industry, the Triflic Acid industry garnered most of its revenue from the region and counted to over 45% in 2020. However, with a considerable stake in global revenue generation, Europe is also getting traction in demand for Triflic Acid. North America is expected to grow at a slow but steady pace over the forecast period, while Asia Pacific will continue to rally with a comparatively higher CAGR over the span of the time frame considered in this report. Vietnam, Egypt, South Africa, the East African Community, the Philippines, etc., are some of the major target markets for the growth of the Triflic Acid industry in the near future.

Global Triflic Acid Market

Electronic and Pharma Industry to Push the Demand for 99.9% Purity Triflic Acid

The strong presence of the electronic industry and pharmaceutical manufacturing activities in the Asia Pacific is also mobilizing the demand for Triflic Acid in the region. Electronic manufacturing is highly concentrated in China, Japan, and Southeast Asia. This, in turn, generates demand for electronic chemicals. Triflic Acid is one of the leading chemicals used in various applications in the electronic industry, likely to push the demand for Triflic Acid at a rapid pace. 99.5%, 99.9%, and Others are some of the major types of Type extracted through Triflic Acid Application. 99.5% segment accounted for the largest share 2020 of the Triflic Acid market 2020. This is largely due to the high demand for 99.9% in various pharmaceutical and chemical industries.                         

Rhodia, Groupchem, QING YUN, Central Glass, Shandong Feiyuan, etc., are some of the leading manufacturers of Triflic Acid. The Asia Pacific hosts the largest installed capacity base for Triflic Acid. Moreover, China, South Korea, and Japan are leading exporters to Europe and North America.    

Frequently asked questions about global Triflic Acid industry

The market is impacted considerable to Triflic Acid industry owing to sharp decline in its production as well as demand to stringent measures adopted by various national government to arrest the spread of COVID 19

99.5%, 99.9% and other are the types of Triflic Acid and market is being dominated by the 99.9% purity level

Chemical Industry, Pharmaceutical Industry, Electronics Industry and Other are the applications of Triflic Acid

Groupchem, QINGYUN, Nanjing Wisdom, Rhodia, Shandong Feiyuan, Central Glass, Tianjin Elite, Highchem, Worldyang, Zhongxin and HuBEI hengxin

Asia-Pacific has the largest share owing thriving pharmaceutical industry owing to presence of large Application industry and strong production activities in the field of chemical electronics as well as pharma industry

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Published Date:  Apr 2021
Category:  Chemicals
Report ID:   60329
Report Format:   PDF
Pages:   120
Rating:    4.4 (58)
Delivery Time: 24 Hours to 48 Hours   
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