Sulfur hexafluoride Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Grade (Electronic Grade, UHP Grade, and Standard Grade), End Users (Power and Energy, Electronics, Metal Manufacturing, Medical, and Others), and Geography
The global sulfur hexafluoride market was valued at US$ 221.69 million in 2018 and is projected to reach US$ 354.04 million by 2027; it is expected to grow at a CAGR of 5.4% from 2019 to 2027.
Sulfur hexafluoride (Sulfur hexafluoride) is non-toxic, inert, and potent greenhouse gas that possesses superior electrical insulation characteristics. Owing to its chemical inertness, and nontoxic, noncombustible, and noncorrosive nature, sulfur hexafluoride is largely used as an insulating and arc interruption agent in the power transmission and distribution industries as well as an etching agent in the electronics & semiconductors sector. This colorless and odorless gas is five-times heavier than air and exhibits a high dielectric strength and thermal stability. Sulfur hexafluoride has high demand in power, energy, electronic, medical, aerospace, and meteorology industries, among others.
The sulfur hexafluoride market, based on end-user, is segmented into power and energy, electronics, metal manufacturing, medical, and others. The power and energy segment accounted for the largest share of the global market in 2018, whereas the market for electronics is expected to grow at the highest CAGR during the forecast period. Sulfur hexafluoride is mainly used as an insulating medium in a diverse range of high-voltage electrical and electronic equipment, including circuit breakers, switch gears, and particles accelerators. The conventional gas-insulated transmission lines are packed with sulfur hexafluoride gas to offer insulation during high-voltage power transmissions. The focus of the power and energy sector has now shifted to gas-insulated, high-voltage cables as well as tubular transmission lines for distribution high-power in heavily concentrated industrial areas.
The Sulfur hexafluoride market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East and Africa. Asia Pacific held the largest share of the market in 2018, followed by North America. Continuous industrial development, coupled with rising government investments in upgrading the electrical and electronics infrastructure, fuels the sulfur hexafluoride market growth in Asia Pacific countries. Also, increasing investments in research and development pertaining to sulfur hexafluoride production would further boost the market growth in this region. India, China, and Japan are the frontrunners in the of sulfur hexafluoride market in Asia Pacific.
Fujian Shaowu Yongfei Chemical Co., Ltd; SHOWA DENKO K.K.; Chemix Gases; Solvay S.A; Kanto Denka Kogyo Co., Ltd; Air Liquide; Concorde Specialty Gases Inc; Iwatani Corporation; Linde plc; and Matheson Tri-Gas, Inc.; are among the well-established players in the global sulfur hexafluoride market.
The sulfur hexafluoride market size has been derived in accordance with to both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants typically involved in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the sulfur hexafluoride market.
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