--- title: "Donghai Securities: International giants exit the nitrogen trifluoride business, China's electronic specialty gas competitiveness is expected to strengthen" type: "News" locale: "en" url: "https://longbridge.com/en/news/242361527.md" description: "Donghai Securities released a research report stating that Mitsui Chemicals of Japan will exit the nitrogen trifluoride (NF3) business in 2026, which may enhance China's international competitiveness in this field. With the increase in China's nitrogen trifluoride production capacity and customer certifications, this product has become a net export product. Donghai Securities recommends paying attention to related listed companies, such as NATA OPTO-ELECT and PERIC. It is expected that the global electronic specialty gas market will reach USD 6.023 billion by 2025, while the domestic market is expected to be around RMB 20 billion in 2024" datetime: "2025-05-29T09:22:03.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/242361527.md) - [en](https://longbridge.com/en/news/242361527.md) - [zh-HK](https://longbridge.com/zh-HK/news/242361527.md) generator: "portal-rs" --- # Donghai Securities: International giants exit the nitrogen trifluoride business, China's electronic specialty gas competitiveness is expected to strengthen According to the Zhitong Finance APP, Donghai Securities released a research report stating that recently, Japanese giant Mitsui Chemicals announced its decision to exit the nitrogen trifluoride (NF3) business produced by its wholly-owned subsidiary, Shimonoseki Mitsui Chemicals. Production will cease by the end of March 2026, and sales will end within the same year. The firm indicated that this may suggest that related products in China have gained international competitiveness and are expected to take over the market left by Mitsui's exit, further expanding their international market share. It is recommended to pay attention to representative listed companies related to electronic-grade gases: NATA OPTO-ELECT, PERIC, Haohua Technology, and Yake Technology. ## Key points from Donghai Securities: **Nitrogen Trifluoride: The "Invisible Key Material" in Semiconductor Manufacturing** Nitrogen trifluoride (NF3) is typically considered a colorless and odorless gas in its pure state. It appears as an opaque solid at low temperatures, becoming transparent at -216.54℃, with a melting point of -206.79℃ and a boiling point of -129.01℃, and a relative density of 1.537 (-129℃). It exhibits good stability at high temperatures, withstanding temperatures up to 627℃. It is usually produced by molten salt electrolysis, but can also be obtained by directly fluorinating sodium amide or ammonia gas. **Using Glow Discharge Method to Directly React Nitrogen and Ammonia to Prepare Nitrogen Trifluoride** Nitrogen trifluoride serves as an excellent plasma etching gas in the microelectronics industry, decomposing into reactive fluorine ions during ion etching. These fluorine ions have excellent etching rates and selectivity (for silicon and tungsten compounds) with high-purity nitrogen trifluoride, leaving no residues on the etched surface, making it an excellent cleaning agent. It has also been widely used in chip manufacturing and high-energy lasers. **Electronic Gases Benefit from Emerging Industry Development Demand, While Four Major Overseas Giants Remain in Monopoly Position** According to relevant data from ACMI, the global electronic specialty gas market is expected to reach USD 6.023 billion by 2025. According to Zhuochuang Information, the domestic electronic gas market is expected to be around RMB 20 billion in 2024, with electronic bulk and electronic specialty gases accounting for 55% and 45%, respectively. Broadly speaking, electronic gases refer to specialty gases with electronic-grade purity, mainly divided into electronic bulk gases and electronic specialty gases, widely used in semiconductor-related industries including integrated circuits, display panels, semiconductor lighting, and photovoltaics. Electronic bulk supplies are limited, with high stability and supply requirements; electronic specialty gases number in the hundreds and are mainly used in processes such as photolithography, etching, doping, and deposition. In terms of competitive landscape, there are over 60 major international suppliers, mainly distributed in the US, Europe, Japan, and South Korea. Through mergers and acquisitions, four major gas companies have formed: Air Products, Linde, Air Liquide, and Taiyo Nippon Sanso. In the field of electronic gases for chips, these four companies build gas stations and supply facilities simultaneously when constructing chip factories, providing a complete gas solution, accounting for nearly 70% of the global market share. **China's Electronic Gas Localization Level Improves, Nitrogen Trifluoride Has Become a Net Export Product** With the rapid development of emerging industries prioritized by the country in recent years, such as integrated circuits, LCD panels, LEDs, optical fiber communication, photovoltaics, high-end equipment manufacturing, and healthcare, China's localization in the field of electronic-grade gases has improved rapidly. Taking nitrogen trifluoride as an example, in 2023, the global nitrogen trifluoride production capacity is 47,000 tons/year, with a production volume of 44,000 tons and an operating rate of 93%; China's nitrogen trifluoride production capacity is 25,000 tons/year, with an output of approximately 24,000 tons. Major Chinese producers include PERIC, China National Chemical (HaoHua Gas), and NATA OPTO-ELECT. China's nitrogen trifluoride production capacity and output are gradually increasing, and with the growing number of customer certifications, nitrogen trifluoride has become a net export product. In 2023, the import volume was 344.23 tons, while the export volume was 2,545.42 tons, with the export volume being 7.39 times that of the import volume. **Risk Warning:** Risks of downstream electronic and other industries' demand falling short of expectations; risks of domestic electronic gas companies' downstream market expansion falling short of expectations; risks of overseas trade protection policies ### Related Stocks - [300346.CN](https://longbridge.com/en/quote/300346.CN.md) - [688146.CN](https://longbridge.com/en/quote/688146.CN.md) - [600378.CN](https://longbridge.com/en/quote/600378.CN.md) - [002409.CN](https://longbridge.com/en/quote/002409.CN.md) - [301299.CN](https://longbridge.com/en/quote/301299.CN.md) - [CP00062.US](https://longbridge.com/en/quote/CP00062.US.md) ## Related News & Research - [North Sea Crude-WTI weakens on lower offer](https://longbridge.com/en/news/296813963.md) - [Oil Refineries (TASE:ORL) Earnings Turnaround Puts Its Cheap Looking Valuation In Focus](https://longbridge.com/en/news/297122714.md) - [JinkoSolar CEO Warns Solar Industry Profits Remain Under Pressure](https://longbridge.com/en/news/297063262.md) - [Quebec to hold Oct 5 election, separatists favored to win](https://longbridge.com/en/news/297209080.md) - [Nampak director associate buys shares worth R 35.17 million](https://longbridge.com/en/news/296932706.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**