Research Nester published a report titled “Octofluoropropane Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers 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, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
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 segment into semiconductor, liquid crystals & LEDs, optical fibers, refrigerant, 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.
Increasing production of smart phones, growing automobile industry, and the increasing use of octofluoropropane in eye surgeries are some of the major 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 into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is projected to hold the largest share by the end of 2031 owing to the presence of key market players as well as some of the prominent electronic component manufacturers in the region. Moreover, a huge amount of electronics export is expected to surge the growth of the market in the Asia Pacific region.
The research is global in nature and covers detailed analysis on 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 Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Automobile Industry to Drive the Growth of the Market
For instance, in the year 2022, India exported more than 5 million vehicles, according to the India Brand Equity Foundation (IBEF).
Octofluoropropane is likely to be widely used in the automobile industry in the manufacture of smart 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 requirement of well-trained personnel in handling and storage are expected to operate as key restraints to the growth of global octofluoropropane market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of 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 key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global octofluoropropane market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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