Pune, India, September 2023, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Sulfur Hexafluoride Market.
Market Research Future (MRFR) has published a cooked research report on the “Global Sulfur Hexafluoride Market” that contains information from 2018 to 2030. The Sulfur Hexafluoride market is estimated to register a CAGR of 6.1% during the forecast period of 2023 to 2030.
MRFR recognizes the following companies as the key players in the global Sulfur Hexafluoride market— Solvay (Belgium), SHOWA DENKO K.K. (Japan), Concorde Specialty Gases, Inc (US), The Linde Group (Ireland), Advanced Specialty Gases (US), Matheson Tri-Gas, Inc (US), Air Products and Chemicals, Inc (US), Electronic Fluorocarbons, LLC (US), Praxair Technology, Inc (US), Bengal Gases (India), Ajay Air Products Pvt. Ltd (India), and PURITYPLUS SPECIALTY GASES (US).
Sulfur Hexafluoride Market Highlights
The global Sulfur Hexafluoride market is accounted to register a CAGR of 6.1% during the forecast period and is estimated to reach USD 309.9 million by 2030.
The sulfur hexafluoride market refers to the global industry for the production and distribution of the gas SF6, which is commonly used in electrical equipment as an insulating and cooling medium. Despite its effectiveness, SF6 has a high global warming potential, leading to increasing efforts to find more eco-friendly alternatives.
Segment Analysis
The global Sulfur Hexafluoride market has been segmented based on Product and application.
On the basis of Product, the market is segmented into Electronic Grade, UHP Grade and Standard Grade. In 2018, standard grade sulphur hexafluoride accounted for 85.2% of the overall revenue share, dominating the global product demand. The production of high-voltage circuit breakers, which are used to generate electricity and energy, is expected to see an increase in the demand for standard grade of the product.
Based on application, the global Sulfur Hexafluoride market has been segmented into Power & Energy, Medical, Metal Manufacturing, Electronics and Others. The highest market share for sulphur hexafluoride in 2018 belonged to the power and energy sector, and it is anticipated that this pattern would hold throughout the forecast period. The main consumers of sulphur hexafluoride in the power and energy industries are high-voltage circuit breakers, switchgear and Gas Insulated Switchgear (GIS), all of which are used in power and energy producing plants.
Regional Analysis
The global Sulfur Hexafluoride market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Sulfur Hexafluoride market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Sulfur Hexafluoride market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Sulfur Hexafluoride market comprises of Middle East, Africa, and Latin America.
The Asia-Pacific Sulfur Hexafluoride Market dominated this market in 2022. Because of an increase in the demand for the product as a dielectric medium for electrical and electronic equipment, the Asia-Pacific region is predicted to dominate the sulphur hexafluoride (SF6) market in terms of revenue growth and market share. The increased use of SF6 in flat panel products and MEMS as an etching gas will also help to accelerate market expansion in this area.
Additionally, With a share of 27.2%, Europe was the second-largest market in 2018. The presence of experienced companies and the region's established chemical sector are expected to support the expansion of the sulphur hexafluoride (SF6) market. Low production quantities are a result of strict government rules governing sulphur hexafluoride manufacturing and supply in the European region.
Moreover, Sulphur hexafluoride use and handling are subject to a number of strict rules in the North American region. Standards have been set for this purpose by a number of organisations, including OSHA, NIOSH, the Compressed Gas Association, and the U.S. EPA. Since sulphur hexafluoride is widely used in the manufacturing of magnesium around the world, the International Magnesium Association (IMA) has established regulations for its emission.
Key Findings of the Study
- The global Sulfur Hexafluoride market is expected to reach USD 309.9 million by 2030, at a CAGR of 6.1% during the forecast period.
- The Asia-Pacific Sulfur Hexafluoride Market dominated this market in 2022. Because of an increase in the demand for the product as a dielectric medium for electrical and electronic equipment.
- Based on Product, In 2018, standard grade sulphur hexafluoride accounted for 85.2% of the overall revenue share, dominating the global product demand.
Solvay (Belgium), SHOWA DENKO K.K. (Japan), Concorde Specialty Gases, Inc (US), The Linde Group (Ireland), Advanced Specialty Gases (US), Matheson Tri-Gas, Inc (US), Air Products and Chemicals, Inc (US), Electronic Fluorocarbons, LLC (US), Praxair Technology, Inc (US), Bengal Gases (India), Ajay Air Products Pvt. Ltd (India), and PURITYPLUS SPECIALTY GASES (US)
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Base Year | 2023 |
Companies Covered | 15 |
Pages | 100 |
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