27-Jul-2022 | Facts and Factors
According to Facts and Factors, the global Trifluoroacetic Acid market size was valued at USD 287.4 million in 2021 and is predicted to increase at a CAGR of 2.9% to USD 341.1 million by 2028. The study examines the market in terms of revenue in each of the major regions, which are classified into countries.
The increased use of chemicals in multiple industries is expected to drive demand for Trifluoroacetic Acid over the forecast period. Trifluoroacetic Acid is an odorless, pungent-smelling organic chemical solution that has seen an exponential increase in demand over the past few years and is expected to see steady growth over the forecast period. Increasing demand for solvents in multiple industries like pharmaceutical, manufacturing, pesticide, etc. is expected to positively impact the Trifluoroacetic Acid market potential over the coming years.
Browse the full “Trifluoroacetic Acid Market Size, Share, Growth Analysis Report By Type (99.5% Trifluoroacetic Acid, 99.9% Trifluoroacetic Acid, Other), By Application (Medical Intermediates, Pesticide Intermediates, Others), and By Region - Global Industry Insights, Comparative Analysis, Trends, Statistical Research, Market Intelligence, and Forecast 2022 – 2028" report at https://www.fnfresearch.com/trifluoroacetic-acid-market
Rising demand for organic solvents in the pharmaceutical sector is projected to be a major trend driving the Trifluoroacetic Acid market growth and will provide lucrative opportunities for Trifluoroacetic Acid manufacturers in the coming years. However, the toxic and non-biodegradable nature of Trifluoroacetic Acid is expected to have a hampering effect on the global market potential as multiple nations are banning the use of toxic chemicals in order to maintain the sustainability trend and minimize environmental impact on a global level.
Segmental Overview
In terms of type, the Trifluoroacetic Acid market is further segmented into 99.5% Trifluoroacetic Acid, 99.9% Trifluoroacetic Acid, and Others. Of these three the 99.9% Trifluoroacetic Acid segment will lead the Trifluoroacetic Acid market growth and will continue this trend over the forecast period. Increasing demand for highly pure Trifluoroacetic Acid is expected to bolster growth in this segment through 2028
The demand in the medical sector will be high as it is being used as a medical intermediate in pharmaceutical manufacturing. Rising demand for pharmaceuticals will also further aid the sector and hence drive the Trifluoroacetic Acid market potential in the long run.
Regional Overview
The Trifluoroacetic Acids market in the Asia Pacific region will record good growth over the forecast period owing to rising investments in the industrial sector of this region and the rising establishment of chemical manufacturing. Owing to low operational costs and increasing support from governments to establish industries or verticals such as oil & gas, chemical, and steel the market in this region will see good growth opportunities for Trifluoroacetic Acid manufacturers. Rapid industrialization will be the most prominent trend in the global Trifluoroacetic Acid marketplace for the Asia Pacific. India, Japan, and China are anticipated to be the most rewarding countries for Trifluoroacetic Acids market players over the coming years.
Report Scope
Report Attribute |
Details |
Market Size in 2021 |
USD 287.4 Million |
Projected Market Size in 2028 |
USD 341.1 Million |
CAGR Growth Rate |
2.9% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2028 |
Key Market Players |
Solvay, Halocarbon, SRF, Sinochem, Bluestar, Shandong Xingfu, and others |
Key Segment |
By Type, Application, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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The report contains qualitative and quantitative research on the global Trifluoroacetic Acid Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.
Some of the major companies operating in the trifluoroacetic acid market are Solvay, Halocarbon, SRF, Sinochem, Bluestar, Shandong Xingfu, and others.
The Global Trifluoroacetic Acid Market is segmented as follows:
By Type
- 99.5% Trifluoroacetic Acid
- 99.9% Trifluoroacetic Acid
- Other
By Application
- Medical Intermediates
- Pesticide Intermediates
- Others
By Region
- North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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