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Triflic Acid Market (3.8% CAGR): Global Size & Growth Analysis By Credence Research
The global Triflic Acid market generated revenue of around USD 120 million in 2020 and anticipated to grow at a CAGR of over 3.8% during the forecast period from 2021 to 2027 to reach around USD 360 million in 2027.
By: Credence Research
Key Trends in Global Triflic Acid Market
Higher Demand in Pharmaceutical Industries
It is used to produce a variety of drug groups in the pharmaceutical industry, including nucleosides, antibiotics, hormones, proteins, and glycosides, and this is one of the primary factors driving the use of triflic acid. Vitamin synthesis, silicon rubber alteration, and catalyst isomerization and alkylation are some of its other uses. Triflic acid's production is rapidly increasing as a result of its widespread use in the pharmaceutical and chemical industries. Over the forecast period, the expanding application spectrum of silicon rubber is expected to provide numerous growth factors.
Global Triflic Acid Market by Type Insights
99.5% Type, 99.9% Type and Others are some of the major types of metal extracted through Triflic Acid process. 99.9% Type segment accounted for the largest share in 2020 of the Triflic Acid markets in 2020. 99.9% Triflic Acid is in great demand among pharmaceutical applications as well as fine chemical industries.
99.9% Type Segment to Dominate the global Triflic Acid market
Global Triflic Acid Market by Application Insights
Global Triflic Acid market is segmented based on application as Chemical Industry, Pharmaceutical Industry, Electronics Industry and Other. Pharmaceutical Industry accounted for the largest share of the Triflic Acid market in 2020. Triflic Acid is growing in demand as a catalyst of choice among the chemical synthesis and pharmaceutical applications.
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