Ferric Fluoride Market Size, Share & Industry Analysis, By Type (Anhydrous Ferric Fluoride, Ferric Fluoride Trihydrate), By End-Use (Ceramics, Chemical, Others) and Regional Forecast, 2024-2032
KEY INDUSTRY INSIGHTS
Ferric fluoride also known as Iron (III) Fluoride, an inorganic compound derived from Iron. Iron (III) Fluoride is a water insoluble Iron compound which acts as source of iron for use in oxygen-susceptible uses, like metal production. The compound is found in two forms named anhydrous and trihydrate. The anhydrous ferric fluoride is white in color whereas the trihydrate is pink in color. The compound is anti-ferromagnetic and hygroscopic in nature. The anhydrous ferric fluoride is prepared by treating any anhydrous iron compound with Fluorine. It is widely used to produce ceramics and derive other chemicals.
The increasing demand for ceramics from end-use sectors like Aerospace, Building and Construction, and medical is expected to drive the market for ferric fluoride. Moreover, the use of ferric fluoride and its derivatives in cross-coupling reactions particularly the biaryl compounds is expected to create positive impact on the market.
However, the compound is acutely toxic in nature and highly corrosive and can cause severe burns and eye damage which can hamper the market growth.
Key Market Driver -
Increasing demand for ceramics from various end-use sectors.
Key Market Restraint -
Toxic, corrosive nature of the compound
Market Segmentation:
Based on type, the market is segmented into anhydrous ferric fluoride and ferric fluoride trihydrate. Based on end-use, the market is segmented into ceramics, chemicals, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Key Players Covered:
The global ferric fluoride market consists of global & regional players operating. Some of the key players in the market include American Elements, Advance Research Chemicals, Inc. (ARC), Alfa Aesar, ThermoFisher Scientific, Sigma-Aldrich (Merck) and Others.
Key Insights
- New Advancements in Production Technologies
- Key Trends in the Ferric Fluoride Market
- New Product Launches, Expansions, Key Players
- Ranking of Key Players in the Market
Regional Analysis:
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is estimated to dominate the market for Ferric Fluoride attributed to the highest numbers of iron ores in Australia, China, and India. Moreover, the large chemical and Ceramics manufacturing sector of these countries is raising the demand for ferric fluoride. The technological advancements and extensive R&D in ceramics and materials for aerospace applications is expected to drive the market for ferric fluoride. Europe is expected to showcase moderate growth attributed to use of ceramics in automobiles. Latin America and Middle East and Africa are expected to show sluggish growth by the end of the forecast period.
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Segmentation
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Ferric Fluoride Industry Developments
- In June 2015, ThermoFisher Scientific acquired Alfa Aesar, a global manufacturer of research chemicals. The acquisition enhanced the product portfolio of solvents, chemicals, and reagents for laboratory application
- Ongoing
- 2023
- 2019-2022
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