Bromo Trifluoro Propene Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Application (Pharmaceuticals, Fire Extinguishers, and Flouro Silicone Polymers), By Region, and by Competition
Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Chemicals | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationBromo Trifluoro Propene Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Application (Pharmaceuticals, Fire Extinguishers, and Flouro Silicone Polymers), By Region, and by Competition
Global Bromo trifluoro propene market is anticipated to grow appreciably in the forecast period of 2028 due to the growing demand from pharmaceutical industry for API production, increasing demand from the end-user industry, and growing demand of fire protection systems.
According to a new ValuePenguin survey in the United States, almost one out of four Americans has faced a fire incident and don’t have access to fire extinguishers where 20 percent have experienced a fire in their house, and 9 percent said that there was a fire in a neighboring house.
Bromo Trifluoro Propene, also known as 3-Bromo-1,1,1-trifluoropropene or BTCP, is a specialty chemical that is primarily used as an intermediate or building block in various industries. Bromo Trifluoro Propene is used as a key component in the synthesis of agrochemicals, such as insecticides and herbicides. It can be used as a starting material to produce compounds that have pesticidal properties.
The chemical is utilized in the pharmaceutical industry as an intermediate in the synthesis of active pharmaceutical ingredients (APIs). It can be employed in the production of drugs for various therapeutic applications. Bromo Trifluoro Propene finds application in the electronics industry for the manufacturing of specialty chemicals used in electronic components. It can be used in the production of materials like fluoropolymers and fluorinated surfactants, which are used in electrical insulation and as coatings. Additionally, BTCP is used as a building block in the synthesis of various specialty chemicals. These chemicals can have diverse applications, ranging from solvents and surfactants to lubricants and polymer additives. Hence, all the above-mentioned factors are expected to propel the global bromo trifluoro propene market growth in the forecast period.
Growing Demand for BTFP in the pharmaceutical industry is Driving Global Bromo Trifluoro Propene Market
The growing demand for Bromo Trifluoro Propene (BTFP) in the pharmaceutical industry can be a significant driver for the global bromo trifluoro propene market. Bromo trifluoro propene serves as an intermediate in the synthesis of various active pharmaceutical ingredients (APIs). APIs are the key components in pharmaceutical formulations that have a therapeutic effect. As the pharmaceutical industry constantly develops and introduce new drugs, the demand for bromo trifluoro propene as an intermediate for API synthesis is likely to increase.
The pharmaceutical industry constantly strives to discover and develop new drugs to address unmet medical needs. During the drug development process, chemical intermediates like BTFP are often required for the synthesis of specific drug compounds. The increasing focus on drug discovery and development can drive the demand for the bromo trifluoro propene market.
In 2021, the investment in the pharmaceutical sector was estimated to be more than USD 41,500 million in R&D in Europe
The pharmaceutical industry is highly regulated, with strict quality and safety standards. BTFP may be preferred over other chemicals in certain pharmaceutical applications due to its specific properties, which can enhance the safety or efficacy of the final drug product. Regulatory compliance and safety considerations can drive the demand for bromo trifluoro propene as a preferred chemical choice in pharmaceutical manufacturing processes.
In 2020, pharmaceutical R&D expenditure in Europe, the USA, Japan, and China rose by almost 220%, 300%, 180%, and 400% compared to the investment
Increasing Demand for Bromo Trifluoro Propene from End User Industry is the Key Reason Thrusting the Market Demand
The increasing demand for Bromo Trifluoro Propene (BTFP) from various end-user industries is a key driver for the growth of the global BTFP market. Here are some factors explaining how the demand from end-user industries contributes to market growth
Bromo trifluoro propene is used as a crucial intermediate in the synthesis of agrochemicals, including insecticides and herbicides. The agricultural sector's constant need to protect crops from pests and weeds drives the demand for agrochemicals. As a result, the demand for bromo trifluoro propene as a key component in agrochemical production is expected to grow in the forecasted period.
Bromo trifluoro propene finds application in the electronics industry to produce specialty chemicals used in electronic components. It can be used in the manufacturing of materials like fluoropolymers and fluorinated surfactants, which are essential for electrical insulation, coatings, and other electronic applications. The growing electronics sector, driven by advancements in technology and increasing consumer demand for electronic devices, contributes to the demand for the global bromo trifluoro propene market.
Bromo trifluoro propene serves as a building block in the production of various specialty chemicals used across different industries. These chemicals can have diverse applications, including solvents, surfactants, lubricants, and polymer additives. The demand for specialty chemicals, influenced by industrial growth and evolving consumer needs, contributes to the rise in demand for bromo trifluoro propene.
Advances in manufacturing processes and technologies can drive the demand for BTFP. Improved production methods and cost-effective manufacturing techniques can make BTFP more accessible to end-user industries, leading to increased adoption and market growth. Hence, all these factors are expected to drive the demand for global bromo trifluoro propene market growth.
Favorable Environmental Regulations in Driving the Demand for Global Bromo Trifluoro Propene Market Growth
Favorable environmental regulations can indeed drive the demand for Bromo Trifluoro Propene (BTFP) and contribute to the growth of the global BTFP market. Environmental regulations often target the phase-out or restriction of hazardous substances that pose risks to human health or the environment. If certain chemicals are being phased out due to their adverse effects, bromo trifluoro propene may be considered a safer alternative. As a result, the demand for bromo trifluoro propene can increase as industries seek to replace restricted or banned substances with more environmentally friendly alternatives.
Bromo trifluoro propene may have certain properties that make it a preferred choice in terms of environmental impact compared to other chemicals. For example, it may have a lower ozone depletion potential (ODP) or global warming potential (GWP) compared to alternative chemicals. If Bromo trifluoro propene demonstrates favorable environmental attributes, it can gain preference in industries striving to meet regulatory requirements and sustainability goals.
Green chemistry principles aim to develop and promote environmentally friendly chemical processes and products. If Bromo trifluoro propene will produce through greener manufacturing processes or used in eco-friendly applications, can align with these initiatives. This led to an increase in the demand for BTFP may increase as industries adopt green chemistry practices and seek sustainable solutions.
Environmental regulations often encourage waste minimization and promote recycling practices. The Bromo trifluoro propene can be effectively recycled or has a minimal impact on waste generation, this is led favorably by industries seeking to comply with such regulations. The demand for bromo trifluoro propene may grow as industries strive for more sustainable waste management practices.
Compliance with environmental regulations is crucial for companies to access certain markets or secure business partnerships. If Bromo trifluoro propene meets regulatory requirements and is considered a compliant chemical, it can gain a competitive advantage in the marketplace. This can drive demand as companies prioritize sourcing environmentally compliant materials.
Recent Developments
- In March 2023, the European Union (EU)announced that it would be phasing out the use of Halon fire extinguishers by2030. This is expected to boost the demand for BTFP as a replacement for Halon.
- In April 2023, the U.S. Environmental Protection Agency(EPA) announced that it would be granting a waiver to allow the use of BTFP infire extinguishers. This is expected to further boost the demand for BTFP inthe U.S. market.
Market Segmentation
Global
Company Profiles
Skyrun Industrial Co. Limited, Beyond Industries (China) Limited, Daming Changda Co, Ltd, Weihai New Era Chemical Co., Ltd., Central Glass Co.Limited, Zhejiang Huanxin Fluoro Material Co., Ltd., Capot Chemical Co. Ltd., JiaXing SiCheng Chemical Co. Ltd., Tokyo Chemical Industry (India) Pvt. Ltd., and Henan Aochuang Chemical Co.,Ltd. are some of the key players of global bromo trifluoro propene market.
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028 |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments covered | Application |
| Regional scope | North America, Europe, Asia Pacific, South America, Middle East & Africa |
| Country scope | United States, Mexico, Canada, France, Germany, United Kingdom, Spain, Italy, France, China, India, South Korea, Japan, Australia, Brazil, Argentina, Colombia, South Africa, Saudi Arabia, UAE |
| Key companies profiled | Skyrun Industrial Co. Limited, Beyond Industries (China) Limited, Daming Changda Co, Ltd, Weihai New Era Chemical Co., Ltd., Central Glass Co.Limited, Zhejiang Huanxin Fluoro Material Co., Ltd., Capot Chemical Co. Ltd., JiaXing SiCheng Chemical Co. Ltd., Tokyo Chemical Industry (India) Pvt. Ltd., and Henan Aochuang Chemical Co.,Ltd. |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy