FEATURED COMPANIES
- ABB Ltd.
- AGC Inc.
- Air Products Inc.
- Linde Plc
- Matheson Tri-Gas Inc.
- SHOWA DENKO K.K.
Global Sulfur Hexafluoride (SF6) Market to Reach US$277.4 Million by the Year 2026
SF6 or sulfur hexafluoride is an inorganic, colorless, inflammable, and potent greenhouse gas and an extraordinary electrical insulator. SF6 possesses an octahedral geometry comprising six fluorine particles of a central sulfur atom and is usually transported as the liquefied, compressed gas. Thus SF6 is generally utilized in electrical transformers, substations, and switchgear as arc quenching, cooling medium, and electrical insulation. Growth in the global market is set to be driven by increased demand for SF6 as the dielectric medium for electronic and electrical appliances. In the medical sector, SF6 is excessively used in non-invasive surgeries and in echocardiograms for examining and determining the exact cause and location of an ailment. SF6`s growing demand as the perfect quenching material in linear particle generators & accelerators, distribution voltage switchgear, radar equipment, and circuit breakers of high-voltage are anticipated to drive the SF6 demand. SF6 market is majorly propelled by SF6`s increased usage in GIS or gas insulated substation equipment created to contain gas using sealed pressure systems. A strong inclination towards absorbing free electrons and high electronegative nature proclaims SF6 ideal for switchgear utilized in ultra-high or high voltage transmission lines.
Amid the COVID-19 crisis, the global market for Sulfur Hexafluoride (SF6) estimated at US$195.8 Million in the year 2020, is projected to reach a revised size of US$277.4 Million by 2026, growing at a CAGR of 6% over the analysis period. Standard, one of the segments analyzed in the report, is projected to grow at a 5.8% CAGR to reach US$248.8 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Ultra High Purity segment is readjusted to a revised 7.1% CAGR for the next 7-year period. This segment currently accounts for a 9.3% share of the global Sulfur Hexafluoride (SF6) market. The demand for standard grade SF6 continues to grow driven by rise in production of high-voltage circuit breakers, which are used for energy & power generation purposes. Standard grade SF6 is also used in electronic equipment such as high voltage & switchgear circuit breakers due to exceptional properties such as high dielectric strength, thermal stability, and excellent cooling properties. On the other hand, ultra-high purity (UHP) grade SF6 is extensively utilized in non-invasive medical surgeries and electronic appliances, as UHP grade is the SF6`s purest form without any contamination, which is essential in the medical industry to ensure patient safety.
The U.S. Market is Estimated at $40.2 Million in 2021, While China is Forecast to Reach $60 Million by 2026
The Sulfur Hexafluoride (SF6) market in the U.S. is estimated at US$40.2 Million in the year 2021. The country currently accounts for a 19.76% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$60 Million in the year 2026 trailing a CAGR of 7.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.4% and 5.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.8% CAGR while Rest of European market (as defined in the study) will reach US$19.1 Million by the end of the analysis period. Asia-Pacific represents a major regional market for SF6. Th region`s growth is attributed to capacity installations and additions of new power plants to satisfy the growing electricity demand. Asia-Pacific benefits from less fluctuations in SF6 pricing in comparison with other regions, because of local industry manufacturers` bulk manufacturing to satisfy the growing SF6 demand from emerging nations. North American SF6 market is anticipated to be driven by different developing economies supported by a huge industrial presence, rising disposable income, and growing population.
Electronic Segment to Reach $14.2 Million by 2026
Electronic grade SF6 is witnessing growth led by the increased deployment of highly pure electronic grade SF6 gas, which is considered an ideal electronic etchant in the microelectronics segment. The electric grade SF6 is excessively utilized in the refrigeration industry as the refrigerant has a cooling range of -45°C to 0°C for supporting the production process, due to which the electronic grade SF6 demand is growing and in turn propelling the growth of SF6 market. In the global Electronic segment, USA, Canada, Japan, China and Europe will drive the 6.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$7.3 Million in the year 2020 will reach a projected size of US$11.4 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.5 Million by the year 2026, while Latin America will expand at a 6.8% CAGR through the analysis period.
Select Competitors (Total 47 Featured) -
- ABB Ltd.
- Air Products Inc.
- AGC Inc.
- Concorde Specialty Gases Inc.
- Kanto Denka Kogyo Co., Ltd.
- Linde Plc
- Matheson Tri-Gas Inc.
- SHOWA DENKO K.K.,
- Solvay S.A.
Frequently Asked Questions about the Global Market for Sulfur Hexafluoride (SF6)
What is the estimated value of the Global Market for Sulfur Hexafluoride (SF6)?
What is the growth rate of the Global Market for Sulfur Hexafluoride (SF6)?
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FEATURED COMPANIES
- ABB Ltd.
- AGC Inc.
- Air Products Inc.
- Linde Plc
- Matheson Tri-Gas Inc.
- SHOWA DENKO K.K.
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
SPAIN
RUSSIA
REST OF EUROPE
ASIA-PACIFIC
AUSTRALIA
INDIA
SOUTH KOREA
REST OF ASIA-PACIFIC
LATIN AMERICA
ARGENTINA
BRAZIL
MEXICO
REST OF LATIN AMERICA
MIDDLE EAST
AFRICA
IV. COMPETITION
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A selection of companies mentioned in this report includes:
- ABB Ltd.
- Air Products Inc.
- AGC Inc.
- Concorde Specialty Gases Inc.
- Kanto Denka Kogyo Co., Ltd.
- Linde Plc
- Matheson Tri-Gas Inc.
- SHOWA DENKO K.K.
- Solvay S.A.
Note: Product cover images may vary from those shown