The global boron trifluoride & complexes market sales are anticipated to be valued at ~US$ 233 Mn by the end of 2019, witnessing a strong Y-O-Y growth of ~4.5% over the year 2018, finds a recent study published by Future Market Insights. Asia Pacific excluding Japan is projected to hold more than half of the market value share by end of 2019 and grow with a significant CAGR in the near future, opines the study.
Boron trifluoride is amongst the strongest Lewis acids (electron pair acceptor), and therefore, it finds application as a catalyst for a number of organic synthesis reactions including polymerization, alkylation, isomerization, and other chemical synthesis reactions.
A number of polymer derivatives are being made in the presence of boron trifluoride as a catalyst such as polypropylene and polyethylene. Boron trifluoride gas and its complexes are also being used for manufacturing rubber and other elastomeric polymers, which are increasingly being used across a number of end-use industries. Moreover, boron trifluoride is also used for the synthesis of different range of hydrocarbons such as aromatic hydrocarbons, unsaturated hydrocarbons, alcohols, phenols, and many others.
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With growth in oil and gas and petrochemical industries in the region, through shale gas extraction, there has been tremendous growth in hydrocarbons synthesis and other chemicals, which use BF3 as a major catalyst during reaction. This, in turn, is driving the demand for boron trifluoride & complexes in the market, opines the FMI study.
The study also finds that the demand for boron trifluoride (BF3) gas and di ethyl etherate are anticipated to grow with significant CAGRs in terms of value during the forecast period. Furthermore, the applications of boron trifluoride & complexes as catalysts are projected to grow with a healthy CAGR owing to the huge demand generated from synthetic reactions such as polymerization, alkylation, isomerization, and other chemical synthesis.
Stringent Regulations on Manufacturing of Boron Trifluoride & Complexes Could Hinder Growth
Boron trifluoride, especially in the gaseous form, is considered to be a hazardous, toxic, and very corrosive substance. Therefore, there are a number of regulations pertaining to its manufacturing, transportation, labelling, exposure limit, labelling, and others.
Packaging and transportation of the gas is done under extremely high pressure and is a major challenge for manufacturers, distributors, and end users as well. Moreover, for using boron trifluoride in the gaseous form, there must be an appropriate unloading facility at the consumers’ end, which is leading to many of the end users using boron trifluoride in the complexes form. This factor is estimated to hinder the global boron trifluoride market by the end of the forecast period.
Boron Trifluoride & Complexes Market: Vendor Insights
The boron trifluoride & complexes market is fairly fragmented due to the presence of manufacturers at the regional level. Few of them included in the global boron trifluoride & complexes market report are – BASF SE, Air Liquide, Praxair Technology, Inc., Honeywell International Inc., Matheson Tri-Gas Inc., Gulbrandsen, Entegris, Inc., The Linde Group, Stella Chemifa Corporation, Hunan Heaven Materials Development Co., Arkema, ZIbo Shuanglian Petroleum & Chemical Co., Ltd., NAVIN FLUORINE INTERNATIONAL LIMITED, Qingzhou Chenkai Chemical Co., Ltd., ZIbo Shuanglian Petroleum & Chemical Co., Ltd., and Tanfac Industries Ltd.
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Companies are focusing on mergers and acquisitions of big and small players in the market for expansion of sales and to gain competitive leverage over other players. For instance, in October 2016, the Honeywell International Inc. acquired the Research Chemicals Business from Sigma-Aldrich. The acquisition enabled the company to offer a broad line of inorganic chemicals and solvents for demanding applications.
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About appeal user-guideThis user-guide has been prepared to assist Licensees in submitting an appeal request to the Federal Tax Authority (National Assessment Authority) related to Administrative Penalties levied concerning Economic Substance Regulations.
This guide will also assist the Licensees in following:How to submit an appeal caseHow to provide supporting documentsCommon Mistakes When Submitting an AppealList of penalties based on Cabinet Resolution No 57 of 2020Appeal timeframeThis user-guide designed for the use of all persons who would like to submit an application to the National Assessment Authority to appeal against decisions of Economic Substance Regulations administrative penalties issued to the licensee or the exempted licensee.If you have any further inquiries about Economic Substance Regulations, please contact usPlease note that the National Assessment Authority does not provide advice on Economic Substance Regulations.
For any questions related to the scope and application of regulations for relevant activities, you should review the information on the Ministry of Finance page, or obtain professional advice.The Objective of appealWhat is appeal?The appeal request is one of the services provided based on Article (17) of the Cabinet of Ministers Resolution No 57 of 2020 concerning Economic Substance Requirements.
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Please note that the FTA will not accept any other form of submission of appeals related to Economic Substance Regulations.Step 2: After logging in, you will be forwarded to licensee’s dashboard – HomeStep 3: An appeal must be submitted for each administrative penalty separately.
To submit an appeal request Click on “File Appeal”The system shows the deadline for submitting appeal request and payment of the penaltyThe deadline for submitting an appeal is (40) forty working days from the date on which such administrative penalty is leviedThe final deadline for paying the penalty is (40) forty working days from the date on which such administrative penalty is levied, the calculation of the final deadline for paying the penalty is stopped upon submitting the appeal request, and it will be resumed if the appeal request is rejected or withdrawn.Step 4: On the Appeal request page, the applicant must add a simplified explanation of the reason for submitting the appeal request and Attach the supporting documents to the appeal request.
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