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Sulfur Hexafluoride (SF6) - Global Strategic Business Report

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    Report

  • 382 Pages
  • February 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 5304040

Global Sulfur Hexafluoride (SF6) Market to Reach $357.3 Million by 2030

The global market for Sulfur Hexafluoride (SF6) estimated at US$214 Million in the year 2022, is projected to reach a revised size of US$357.3 Million by 2030, growing at a CAGR of 6.6% over the analysis period 2022-2030. Standard, one of the segments analyzed in the report, is projected to record 6.4% CAGR and reach US$301.4 Million by the end of the analysis period. Growth in the Ultra High Purity segment is estimated at 7.9% CAGR for the next 8-year period.

The U.S. Market is Estimated at $42.1 Million, While China is Forecast to Grow at 7.8% CAGR

The Sulfur Hexafluoride (SF6) market in the U.S. is estimated at US$42.1 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$80.7 Million by the year 2030 trailing a CAGR of 7.8% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.9% and 6.2% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 5.5% CAGR.

Select Competitors (Total 47 Featured)

  • ABB Ltd.
  • Merck KGaA
  • Solvay SA
  • Showa Denko K.K.
  • Kanto Denka Kogyo Co., Ltd.
  • Airgas, Inc.
  • China National Chemical Corporation
  • Matheson Tri-Gas, Inc.
  • BOC Ltd.
  • Mil-Spec Industries Corporation
  • Advanced Specialty Gases
  • A-Gas International
  • Fujian Shaowu Yongfei Chemical Co., Ltd.
  • Avanschem
  • Air Products Inc.

Economic Outlook

The global economic outlook is improving, and growth recovery, albeit on the lower side, is expected for this year and the next. The United States although witnessing slowing GDP growth in response to tight monetary and financial conditions, has nevertheless overcome the recession threat. Easing of headline inflation in Euro area is helping boost real incomes and is contributing to pick-up in economic activity. China is expected to see strong increases in GDP in the coming year as the pandemic threat recedes and the government sheds its zero-COVID policy. With optimistic GDP projections, India remains on-course to emerge into a US trillion economy by 2030, surpassing Japan and Germany.

The upturn, however, remains fragile and a number of interlocking challenges continue to run in parallel, such as continued uncertainty around the war in Ukraine; slower than expected decline in global headline inflation; continuation of food and fuel inflation as a persistent economic problem for most developing countries; and still high retail inflation and its impact on consumer confidence and spending. Countries and their governments are showing signs of weathering these challenges, which helps lift market sentiments. As governments continue to combat inflation to get it down to more economically conformable levels by raising interest rates, new job creation will slowdown and impact economic activity. Stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.

Although corporate investments can likely be held back by inflation worries and weaker demand, rise of new technologies will reverse partially this prevailing investment sentiment. Rise of generative AI; applied AI; industrializing machine learning; next-generation software development; Web3; cloud and edge computing; quantum technologies; electrification and renewables and climate technologies beyond electrification and renewables, will open up the global investment landscape. The technologies hold the potential to drive sizeable incremental growth and value to global GDP in the coming years. The short-term is expected to be a mixed bag of challenges and opportunities for both consumers and investors alike. There is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

What`s New?

  • Special discussions on the global economic climate and market sentiment
  • Coverage on global competitiveness and key competitor percentage market shares
  • Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and trademarked research platform
  • Complimentary updates for one year
  • Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Frequently Asked Questions about the Sulfur Hexafluoride (SF6) Market

What is the estimated value of the Sulfur Hexafluoride (SF6) Market?

The Sulfur Hexafluoride (SF6) Market was estimated to be valued at $214 Million in 2022.

What is the growth rate of the Sulfur Hexafluoride (SF6) Market?

The growth rate of the Sulfur Hexafluoride (SF6) Market is 6.6%, with an estimated value of $357.3 Million by 2030.

What is the forecasted size of the Sulfur Hexafluoride (SF6) Market?

The Sulfur Hexafluoride (SF6) Market is estimated to be worth $357.3 Million by 2030.

Who are the key companies in the Sulfur Hexafluoride (SF6) Market?

Key companies in the Sulfur Hexafluoride (SF6) Market include ABB Ltd., Merck KGaA, Solvay SA, Showa Denko K.K., Kanto Denka Kogyo Co., Ltd., Airgas, Inc., China National Chemical Corporation, Matheson Tri, Gas, Inc. and BOC Ltd..

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Impact of COVID-19 Pandemic and Looming Global Recession
  • 2020: A Year of Disruption & Transformation
  • As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021?
  • World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • Energy Sector: COVID-19 Pandemic Brings Numerous Challenges
  • Global Energy Market Growth Outlook (In %) for Years 2019 through 2025
  • Opportunities for the Power & Energy Sector in the Post-Pandemic Era
  • Industrial Activity Remains Subdued, Inducing Weakness into SF6 Market
  • Global PMI Index Points for the Years 2018, 2019 & 2020
  • Sulfur Hexafluoride (SF6) - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • An Introduction to Sulfur Hexafluoride (SF6)
  • Various Uses of SF6
  • Global Market Prospects & Outlook
  • Standard-grade SF6 Leads, UHP-grade SF6 Poised for High Growth
  • Electronic-Grade SF6 - Steady Growth Outlook
  • Power & Energy: The Largest Application Market
  • Developing Regions to Spearhead Long-term Growth
  • Competition
  • Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Rising Demand for Electricity Worldwide to Fuel Need for SF6
  • Projected Global Demand for Electricity (MWh): 2015, 2020, 2025, 2030 & 2035
  • Global Primary Energy Consumption (Billion toe): Growth Trajectory for the Period 1990-2040
  • Global Electricity Generation in Billion kWh by Fuel Type for the Years 2010, 2020, 2030, 2040 and 2050
  • China and India Lead the Global Rise in Demand for Electricity: Change in Gross Electricity Demand in TWh for 2017-50
  • Pandemic’s Impact on Utilities Affects Demand for SF6
  • COVID-19 Impacts Electricity Consumption: Average Annual Growth Rate of Electricity Demand by Select Region/Country for 2001-06, 2006-10, 2011-15 and 2020
  • Growing Use of SF6 in Various Electrical Equipment
  • Growth of Gas-Insulated Switchgear Market to Drive Opportunities for SF6: Global Gas-Insulated Switchgear Market (in US$ Billion) for the Years 2020, 2023 and 2025
  • Focus on Increasing Renewable Energy Contribution to Global Energy Mix Augurs Well for SF6 Market
  • Global Energy Mix: 1990 Vs 2020 Vs 2030
  • Global Renewable Energy Breakdown by Type: 2010 Vs 2030
  • Global Energy Production: Breakdown of Electricity (Billion Kilowatt Hours) and Percentage Share by Energy Source (2030 & 2040)
  • SF6 Circuit Breakers Market Poised for Strong Growth
  • Expanding Use of SF6 in Medical Applications Bodes Well for Market Growth
  • COVID-19 Pandemic Impacts Ophthalmology Procedures
  • US Ophthalmology Procedures Monthly Growth: 2020 Vs 2019
  • Global Burden of Eye Diseases (In Millions): 2020
  • Global Causes of Visual Impairment: Percentage Breakdown by Number of Cases
  • Global Population with Glaucoma and Age-Related Macular Degeneration (AMD) in Millions for 2016-2030
  • Demographic Shift Drives Demand for Ophthalmology Procedures, Presenting Opportunities for SF6 Market
  • Global Aging Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
  • Fluorination of Medical-Grade PMMA by SF6 Plasma Treatment
  • SF6 Holds Prominence in Foundry and Metal Casting Applications
  • Global Metal Stampings, Forgings, and Castings Market Breakdown by Product Segment (in %): 2020 and 2027
  • Global Primary Production of Magnesium (in Thousand Metric Tons) by Country for 2018 and 2019
  • Growing Demand for Electronics Products and Subsequent Rise in Electronic Production Activities Enhances Need for SF6
  • Global Opportunity for Consumer Electronics (In US$ Million) for Years 2020, 2022, 2024, 2026 and 2028
  • Global MEMS Market Size (in US$ Million) by Region/Country for 2020 and 2027
  • Global Semiconductor Sales (in $ Billions) by Region/Country for Oct-2020 and Oct-2021
  • Concerns Over Environmental and Health Implications of SF6: A Key Hurdle
  • Controlling SF6 Usage
  • With Use and Emissions of SF6 on the Rise, Efforts to Create Effective Alternatives Growing
4. GLOBAL MARKET PERSPECTIVE
  • TABLE 1: World Recent Past, Current & Future Analysis for Sulfur Hexafluoride (SF6) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 2: World Historic Review for Sulfur Hexafluoride (SF6) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 3: World 16-Year Perspective for Sulfur Hexafluoride (SF6) by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2023 & 2030
  • TABLE 4: World Recent Past, Current & Future Analysis for Standard by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 5: World Historic Review for Standard by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 6: World 16-Year Perspective for Standard by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 7: World Recent Past, Current & Future Analysis for Ultra High Purity by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 8: World Historic Review for Ultra High Purity by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 9: World 16-Year Perspective for Ultra High Purity by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 10: World Recent Past, Current & Future Analysis for Electronic by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 11: World Historic Review for Electronic by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 12: World 16-Year Perspective for Electronic by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 13: World Recent Past, Current & Future Analysis for Power & Energy by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 14: World Historic Review for Power & Energy by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 15: World 16-Year Perspective for Power & Energy by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 16: World Recent Past, Current & Future Analysis for Medical by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 17: World Historic Review for Medical by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 18: World 16-Year Perspective for Medical by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 19: World Recent Past, Current & Future Analysis for Metal Manufacturing by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 20: World Historic Review for Metal Manufacturing by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 21: World 16-Year Perspective for Metal Manufacturing by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 22: World Recent Past, Current & Future Analysis for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 23: World Historic Review for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 24: World 16-Year Perspective for Other Applications by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 25: World Sulfur Hexafluoride (SF6) Market Analysis of Annual Sales in US$ Thousand for Years 2014 through 2030
III. MARKET ANALYSIS
  • UNITED STATES
  • Sulfur Hexafluoride (SF6) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2023 (E)
  • CANADA
  • JAPAN
  • Sulfur Hexafluoride (SF6) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2023 (E)
  • CHINA
  • Sulfur Hexafluoride (SF6) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2023 (E)
  • EUROPE
  • Sulfur Hexafluoride (SF6) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2023 (E)
  • FRANCE
  • Sulfur Hexafluoride (SF6) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2023 (E)
  • GERMANY
  • Sulfur Hexafluoride (SF6) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2023 (E)
  • ITALY
  • UNITED KINGDOM
  • Sulfur Hexafluoride (SF6) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2023 (E)
  • SPAIN
  • RUSSIA
  • REST OF EUROPE
  • ASIA-PACIFIC
  • Sulfur Hexafluoride (SF6) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2023 (E)
  • AUSTRALIA
  • Sulfur Hexafluoride (SF6) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2023 (E)
  • INDIA
  • Sulfur Hexafluoride (SF6) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2023 (E)
  • SOUTH KOREA
  • REST OF ASIA-PACIFIC
  • LATIN AMERICA
  • Sulfur Hexafluoride (SF6) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2023 (E)
  • ARGENTINA
  • BRAZIL
  • MEXICO
  • REST OF LATIN AMERICA
  • MIDDLE EAST
  • Sulfur Hexafluoride (SF6) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2023 (E)
  • AFRICA
  • Sulfur Hexafluoride (SF6) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2023 (E)
IV. COMPETITION

Companies Mentioned

A selection of companies mentioned in this report includes:

  • ABB Ltd.
  • Merck KGaA
  • Solvay SA
  • Showa Denko K.K.
  • Kanto Denka Kogyo Co., Ltd.
  • Airgas, Inc.
  • China National Chemical Corporation
  • Matheson Tri-Gas, Inc.
  • BOC Ltd.
  • Mil-Spec Industries Corporation
  • Advanced Specialty Gases
  • A-Gas International
  • Fujian Shaowu Yongfei Chemical Co., Ltd.
  • Avanschem
  • Air Products Inc.