Report : 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
High Use of Sulfur Hexafluoride in Electronics Industry to Drive Sulfur HexafluorideMarket Growth at 5.4%CAGR during2019-2027
According to our latest market study on "COVID-19 Impact and Global SulfurHexafluoride Market to 2027 - Analysis by Grade (Electronic Grade, UHP Grade, and Standard Grade), End User (Power and Energy, Electronics, Metal Manufacturing, Medical, and Others), and Geography," the 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% from2019 to 2027.The report highlightskey factors driving the market growth, and prominent players along with their developmentsin the market.
Sulfur hexafluoride (SF6) is non-toxic, inert, and potent greenhouse gas that possesses superior electrical insulation characteristics. This colorless and odorless gas is five-times heavier than air and exhibits a high dielectric strength and thermal stability. There is strong focus in developing countries on improving and strengthening the industrialsector through increased investments and supportive government measures, which is expected to boost the demand of the gas across several industrial bases. Sulfur hexafluoride has high demand in power, energy, electronic, medical, aerospace, and meteorology industries,among others.
The thermal stability and high dielectric strength of sulfur hexafluoride proffer outstanding cooling and insulating properties. Its use in the form of a dielectric medium in capacitors, switchgears, circuit breakers, and other electric appliances is a major factor driving the growth of the market. The use of sulfur hexafluoride instead of other conventional dielectric media saves space in equipment, along with lowering its weight and ensuring its operational safety. The high molar heat capacity and low viscosity enable effective heat transfer through sulfur hexafluoride medium. Besides this, it is chemically inert, nonflammable, nontoxic, and noncorrosive, and it retains its gas form at low temperatures, which further support its growing demand in the electrical segment.
The COVID-19 outbreak has been affecting economies and industries in various countries,including the US, Brazil, Russia,India, Italy,the UK, Iran, and Spain. Chemicals and materials is one the world's major industries suffering serious disruptions in the form of supply chain breaks, events cancellations, and office shutdowns as a result of the lockdowns imposed in various countries to contain the disease spread.China is the global manufacturing hub and is the largest raw material supplier for various industries; it is also one of the worst-affected countries by the COVID-19 pandemic. The lockdown of various plants and factories in China is affecting the global supply chains and adversely impacting the manufacturing and sales of various chemical and materials. These factors are likely to restrain the growth of various markets related to the chemicals and materials industry in next few financial quarters.
Fujian ShaowuYongfei 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.