Research Nester published a report titled “OctofluoropropaneMarket. GlobalDemand Analysis & Opportunity Outlook 2031,” which delivers a detailed overview of the global octofluoropropane market in terms of market segmentation by product grade, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion of current and future market trends associated with the market’s growth.
The global octofluoropropane market is projected to attain considerable revenue by the end of 2031 by growing at a CAGR of ~4% over the forecast period, i.e., 2022 – 2031. The market is segmented and analyzed for demand and supply by application into semiconductors, liquid crystals & LEDs, optical fibers, refrigerants, medical, transformers, and others. Among them, the semiconductor segment is expected to grow during the forecast period owing to its increasing production of semiconductor chips worldwide.
The increasing production of smartphones, the growing automobile industry, and the use of octofluoropropane in eye surgeries are significant growth drivers of the market. Every year, approximately 2.5 million eye injuries occur in the United States alone, which is anticipated to boost the growth of the global octofluoropropane market.
Regionally, the global octofluoropropane market is studied in five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in the Asia Pacific region is projected to hold the largest share by the end of 2031, owing to the presence of key market players and some of the prominent electronic component manufacturers in the region. Moreover, a considerable amount of electronics export is expected to surge the market’s growth in the Asia Pacific region.
The research is global and covers a detailed analysis of the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa). In addition, unified communication the research report has covered and displayed the analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc.
Growing Automobile Industry to Drive the Growth of the Market
For instance, in 2022, India exported more than 5 million vehicles, according to the India Brand Equity Foundation (IBEF).
Octofluoropropane is likely widely used in the automobile industry to manufacture intelligent vehicles. Therefore, it is expected to drive the octofluoropropane market growth.
However, stringent government regulations for use in some countries, inhaling fumes may cause health hazards, and the requirement of well-trained personnel in handling and storage are expected to operate as key restraints to the growth of the global octofluoropropanemarket over the forecast period.
This report also provides the existing competitive scenario of some of the key players in the global octofluoropropane market, which includes company profiling of Linde plc, Messer Industries GmbH, Praxair, Inc., Showa Denko K.K., Kanto Denka Kogyo Co., Ltd., F2 Chemicals Ltd., Electronics Fluorocarbons, LLC., Guangdong Huate Gas Co., Ltd, and others. The profiling enfolds critical information of the companies, which encompasses business overview, products and services, key financials, and recent news and developments. Overall, the report depicts a detailed overview of the global octofluoropropane market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players exploring possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future. Home