Tungsten Hexafluoride Market Size, Share, Growth, and Industry Analysis, By Type (0.9998 and 0.9999, and more than 99.99%), By Application (Semiconductor Industrial, Production of Tungsten Carbide, and Others), and Regional Forecast to 2031

Updated On: 08 April 2024

Tungsten Hexafluoride Market Report Overview

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global tungsten hexafluoride market size was USD 495 million in 2021  and market is projected to touch USD 805.05 Million By 2031, exhibiting a CAGR of 17.6% during the forecast period.

Tungsten Hexafluoride (CAS 7783-82-6) is a colourless gas or light-yellow liquid, solid as a deliquescent white crystals smoking in the humid air. Mainly used for chemical vapor deposition of tungsten, is used as a fluorinating agent.

This chemical compound is also used in the production of tungsten metal powder and in the manufacture of tungsten wire and filaments for incandescent light bulbs and other high-temperature applications. Additionally, it has some niche applications in the nuclear industry, as a potential fuel for nuclear reactors or as a precursor for the production of radioactive isotopes. However, its use is highly regulated due to its toxicity and reactivity.

The tungsten hexafluoride market is expected to grow in the coming years, driven by the increasing demand for tungsten-based products and the growth of the electronics and aerospace industries. The market is segmented based on by type, by application, by regional expansion of the market. Further, more than 99.99%. type of chemical is the leading segment. On the other hand, semiconductor industrial and production of tungsten carbide is the most popular application segment in the market that influence the demand for the chemical which is anticipated to contribute to the expansion of the market over the forecast between 2022-2028.

COVID-19 Impact: Pandemic Reduces the Production and Sales of the Chemical based Products

The COVID-19 pandemic has had a significant impact on the tungsten hexafluoride market. The pandemic has disrupted global supply chains, leading to a decrease in production and sales of tungsten-based products, including tungsten hexafluoride. This has been mainly due to the closure of manufacturing facilities, restrictions on the movement of goods, and a decrease in demand from end-use industries. However, the market is predicted to overcome financial discrepancies in the coming years as restrictions have been lifted from the marketplace.

Latest Trends

"Rising Trend of Sustainability Practices Expand the Market Outlook"

The latest development in the tungsten hexafluoride industry is the increasing focus on sustainability and responsible sourcing practices. Many companies are now taking steps to ensure that their tungsten-based products, including tungsten hexafluoride, are sourced in an ethical and sustainable manner, with minimal impact on the environment and local communities which is likely to support the demand for the chemical in the application industries. Along with this, some companies are using innovative chemical processes and advanced equipment to produce tungsten hexafluoride with higher purity and at lower cost, which could potentially drive down prices and increase demand for the chemical. Such expansions are predicted to contribute to the tungsten hexafluoride market growth during the forecast period. 

Tungsten Hexafluoride Market Segmentation

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• By Type Analysis

According to type, the market can be bifurcated into 0.9998 and 0.9999, and more than 99.99%.

• By Application Analysis

Based on application, the market can be divided into Semiconductor Industrial, Production of Tungsten Carbide, and Others.

Driving Factors

"Growing Demand for Tungsten-based Products Uplift the Market Growth"

The market is mainly driven by the growing demand for tungsten-based products. The increasing demand for high-temperature materials and electronic devices is driving the demand for tungsten-based products, including tungsten hexafluoride. The electronics industry, in particular, is a major consumer of tungsten hexafluoride, as it is used in the production of microchips and other semiconductor devices which will contribute to the growth of the market.

"Increasing Industrialisation and Urbanisation Propel the Growth of the Market"

Another driving factor of the market is industrialization and urbanization. The rapid industrialization and urbanization in emerging economies are aiding the demand for tungsten-based products, including tungsten hexafluoride, in a wide range of applications such as semiconductor industrial product manufacturing industries around the world, are attributed to propel the growth of the market throughout the projection timeframe.

Restraining Factors

"Increasing Environmental Regulations Can Obstruct the Market Progress"

The production and use of tungsten hexafluoride can have negative impacts on the environment, including air pollution, water pollution, and soil contamination. Therefore, increasing environmental regulations and concerns could limit the growth of the tungsten hexafluoride market which can affect the overall growth and profitability of the industry.

Tungsten Hexafluoride Market Regional Insights

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"Asia Pacific leads the Market due to the Existence of Several Electronic and Semiconductor Manufacturers"

According to market research, the Asia-Pacific is the dominating region in the global market, accounting for the largest tungsten hexafluoride market shares in terms of revenue. This is mainly due to the presence of a large number of electronic and semiconductor manufacturers in countries such as China, South Korea, Japan, and Taiwan. These countries are major consumers of tungsten hexafluoride, as it is an essential material for the production of microchips, LEDs, and other electronic devices. 

Moreover, the rapid industrialization and urbanization in the Asia-Pacific region are driving the demand for tungsten-based products, including tungsten hexafluoride, in applications, such as the semiconductor industrial and production of tungsten carbide industries. 

Key Industry Players

"Key Players Develop Expertise in Production to Maintain their Market Leadership"

With regard to key players, the notable companies in the tungsten hexafluoride market have established strong market positions, with extensive experience in producing and supplying tungsten hexafluoride to a wide range of industries. These companies have developed expertise in the production process, quality control, and customer service, which has helped them to maintain their market leadership. Additionally, the production of tungsten hexafluoride requires specialized knowledge and expertise in chemical engineering and materials science. Resulted, the key players in the market have invested heavily in research and development to develop new and more efficient production methods, and to improve the quality and purity of their products.

List of Market Players Profiled

• Linde
• Air Products and Chemicals
• CSIC
• SK Materials
• Taiyo Nippon Sanso 

Report Coverage

This report defines the tungsten hexafluoride market. It emphasizes the market value, expected CAGR, and USD value over the forecast period, before and after the impact of the COVID-19 pandemic restrictions on the international market, and how the industry is going to turn the corner is also stated in the report. The report provides significant market data with its product type and product applications, end-use details, and an idea of the market growth in the future. This report also provides an understanding of the growing market trends and developments and their effects on the market growth, driving factors along with restraining factors that impact the market dynamics. Along with this, the leading region, key players of the market, and their tactics to beat the market competition, sustainable policies, their collaboration, mergers, companies’ profile, previous years’ revenue, profit & loss, and market position based on their share value in the market, are also explained in the report.