Octafluoropropane Market Analysis

Application (Semiconductor, Liquid Crystals & LEDs, Optical Fibers, Refrigerant, Medical, Transformers)

The global octafluoropropane market is segmented and analyzed for demand and supply by application segment into the semiconductor, liquid crystals & LEDs, optical fibers, refrigerants, medical, transformers, and others. Out of the seven segments, the semiconductor segment is estimated to gain the largest market share of about 28% in the year 2037. The growth of the segment can be attributed to the growing manufacturing of semiconductor chips. The demand for consumer goods is growing, which has had a significant impact on the manufacture of semiconductor chips. Moreover, octofluoropropane gas is used to etch and clean the surfaces of semiconductor devices. As of 2021, worldwide shortages of semiconductor chips were caused by an over 10% rise in demand. Also, the rising investment in the automotive semiconductor sector is estimated to create a positive outlook for both segment growth and market expansion in the upcoming future.

The global octafluoropropane market is also segmented and analyzed for demand and supply by application segment into the semiconductor, liquid crystals & LEDs, optical fibers, refrigerants, medical, transformers, and others. Amongst these segments, the refrigerant segment is expected to garner a significant share. Octofluoropropane gas is a component of several refrigerator mixes, which are used for refrigeration. It can be compressed at high pressure into a liquid that can be used as a coolant in a variety of industries, including electricity generation, the food and beverage industry, the medical and pharmaceutical industry, and computer and data storage facilities. As per the recent statistics, it has been calculated that approximately 215 million refrigerators are sold each year across the globe which is responsible for generating around USD 125 billion in the industry.

Our in-depth analysis of the global market includes the following segments: