Sulfur Hexafluoride Market Forecasts to 2028 – Global Analysis By Product (Electronic/Technical Grade, Standard Grade, Ultra High Purity (UHP) Grade), Packaging (Cylinders, Drum Tanks), Application, End User and By Geography
According to Stratistics MRC, the Global Sulfur Hexafluoride Market is accounted for $237.94 million in 2020 and is expected to reach $424.37 million by 2028 growing at a CAGR of 7.5% during the forecast period. Increase in electricity consumption, rising demand for homes and infrastructure development are the major factors propelling the market growth. However, huge production & supply costs of raw materials and rise in environmental concerns & regulations to control greenhouse effects are hampering the market growth.
Sulfur hexafluoride (SF₆) is a non-flammable, non-toxic, colorless, odorless, and un-reactive liquefied gas under normal atmospheric conditions. It is typically produced in itemized amounts through the direct fluorination of high-purity sulfur and transported in tube trailers and cylinders under its own vapour pressure across the world. It is an excellent dielectric material, and shows outstanding electric insulating properties. SF6 also has some non-electrical applications such as manufacturing of molten magnesium and aluminum, leak detection, window insulation, plasma etching for semiconductor chip production, shock absorbers, contrasting agent in ultrasound imaging, and a tracer in monitoring air pollution, among others.
Based on end user, the power & energy segment is estimated to have a lucrative growth due to the large-scale use of SF6 in the manufacturing of gas-insulated switchgear (GIS), switchgear, high-voltage circuit breakers, high voltage transformers, gas-insulated power substations, distribution voltage, gas-insulated transmission lines, and particles accelerators, among others which are the major drivers for the product in power & energy industry. SF6 acts as insulation in super-voltage generators present in particle and electron accelerators for property enhancement of polymeric materials.
By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the continued robust economic growth, low production and labor cost, and favorable regulatory framework. These factors are influencing the bulk production of SF6, which in turn is fueling the growth of the product market in the region. China is a highly lucrative country for sulfur hexafluoride in Asia Pacific. Rapid urbanization due to rise in demand for power utilities in the country and presence of a well-established semiconductor manufacturing industry are anticipated to fuel the sulfur hexafluoride market in China during the forecast period. Demand for end-use applications in the electronics industry has been increasing mainly in countries such as Thailand, South Korea, Taiwan, and Malaysia. This, in turn, is projected to fuel the sulfur hexafluoride market during the forecast period.
Some of the key players profiled in the Sulfur Hexafluoride Market include Advanced Specialty Gases, Air Liquide, Air Products and Chemicals, Inc, ChemChina, Concorde Specialty Gases, Fujian Shaowu Yongfei Chemical Co., Ltd, Honeywell International, Kanto Denka Kogyo, Linde Group, Matheson Tri-Gas, Inc, Praxair, Shandong Ruihua Fluoride Industry Co. Ltd, Showa Denko K.K, Solvay, and Wuxi Tianzhi Chemical Technology Co., Ltd.
Estimated Market Size in 2020:
USD 237.94 million
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 424.37 million
Tables, Graphs & Figures
Product, Packaging, Application, End User and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Electronic/Technical Grade
• Standard Grade
• Ultra High Purity (UHP) Grade
• Drum Tanks
• Electrical Transmission and Distribution
• Semiconductor Manufacturing
End Users Covered:
• Medical Technology
• Power & Energy
• Steel and Metal
• Window Insulation
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Sulfur Hexafluoride Market is majorly driven by increase in electricity consumption, rising demand for homes and infrastructure development.
The power & energy segment is growing at a highest CAGR owing to large-scale use of SF6 in the manufacturing of gas-insulated switchgear (GIS), high-voltage circuit breakers, high voltage transformers, particles accelerators, among others.
Asia Pacific dominated with a significant market share due to the factors such as rising disposable income, expanding middle-class population, changing demographics, rising education levels, and rapid urbanization across the region.
South America market is growing at a highest CAGR owing to the increasing manufacturing activities in the region along with rapid urbanization.
Key players in Sulfur Hexafluoride Market include Advanced Specialty Gases, Air Liquide, Air Products and Chemicals, Inc, ChemChina, Concorde Specialty Gases, Fujian Shaowu Yongfei Chemical Co., Ltd, Honeywell International, Kanto Denka Kogyo, Linde Group, Matheson Tri-Gas, Inc, Praxair, Shandong Ruihua Fluoride Industry Co. Ltd, Showa Denko K.K, Solvay, and Wuxi Tianzhi Chemical Technology Co., Ltd.
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