Sulfur hexafluoride Market Analysis, Size, and Share by 2027

[Research Report] The sulfur hexafluoride 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% from 2019 to 2027.

Sulfur hexafluoride 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. Sulfur hexafluoridehas high demand in power, energy, electronic, medical, aerospace, and meteorology industries, among others. Owing to its chemical inertness, and nontoxic, noncombustible, and noncorrosive nature, sulfur hexafluoride is largely used as an insulating and arc interruption agent in the power transmission and distribution industries as well as an etching agent in the electronics & semiconductors sector.

The global sulfur hexafluoride market in North America is expected to grow at the highest CAGR of 6.2%during 2019-2027. The abundant availability of raw materials, coupled with risein the commercial farming activities, is expected to boost the growth of the market.

The recent COVID-19 outbreak, whichbegan in Wuhan (China) in December 2019, has spread around the globe at a fast pace. As of June 2020, the US, Russia, India, China, Italy, France, and Germany are amongthe worst-affected countries in terms of positive cases and reported deaths. According to the WHO figures updated in June 2020, ~7,482,952 confirmed cases and ~419,497 deaths have been reported globally. The outbreak has affected economies and industries due to lockdowns, travel bans, and business shutdowns imposed by governments. Chemicals and materials is one the world’s major industries suffering serious disruptions in the form of supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak. China is the global manufacturing hub and is the largest raw material supplier for various industries in the world; it is also one of the worst-hit countries by the COVID-19 pandemic. The lockdown of various plants and factories in China is adversely affecting the global supply chains, and manufacturing and sales of various chemical and materials. The overall market collapse due to this outbreak is also restraining the sulfur hexafluoride market growth due to shutdown of factories, obstacle in supply chains, and down turn in world economy.

Sulfur hexafluoride Market: Strategic Insights

Market Insights

High Use of Sulfur Hexafluoride in Electronics Industry Favors Global Market Growth

Sulfur hexafluoride is inert, nontoxic, noncombustible, and noncorrosive gas, and these excellent properties make it suitable for various electrical applications. The thermal stability and high dielectric strength of sulfur hexafluoride provide it 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 key factor driving the growth of the sulfur hexafluoride market. The gas can be used in many appliances having an operating range of 33–800 KV. Such appliances are utilized in the power and energy generation plants, which further propels the demand for sulfur hexafluoride in the energy and power industries. The use of sulfur hexafluoride as an alternative to other conventional dielectric media enables space-saving, and ensures low weight and operational safety of equipment. The gas can transfer heat effectively due to high molar heat capacity and low viscosity. Besides this, it can retain its gas form at low temperatures, which further adds to its demand in the electrical segment.

Grade Insights

The sulfur hexafluoride market, based on grade, is segmented into electronic grade, UHP grade, and standard grade.The standard grade segment accounted for the largest share of the global market in 2018, whereas the market for electronic-gradesulfur hexafluoride is expected to grow at the highest CAGR during the forecast period. The electronic-grade gas is highly pure and is considered to be suitable electronic etchant that is increasingly being deployed in the field of microelectronics. Electronic-grade sulfur hexafluorideis used in the production of particle accelerators, semiconductors, and integrated circuits. The gas creates optimal quantity of F radicals to eliminate Si-based layers from plasma chamber walls. Moreover, fluorinated gasses, such as sulfur hexafluoride, are known for their better insulation and arc extinguishing performance. In semiconductors industry, the electronic-grade sulfur hexafluoride is being widely used in the manufacturing of devices, integrated circuits (ICs), flat panels, photovoltaic panels, and microelectromechanical systems (MEMS). High density and large molecular size make it a suitable alternative to be used as etching gas in flat panel and MEMS production processes.

End-User Insights

The sulfur hexafluoride market, based on end-users, is segmented into power and energy, electronics, metal manufacturing, medical, and others. The power and energy segment accounted for the largest share of the market in 2018, where as the electronics segment is expected to register the highest CAGR during the forecast period. Sulfur hexafluorideis mainly used as an insulating medium in a diverse range of high-voltage electrical and electronic equipment, including circuit breakers, switch gears, and particles accelerators. The gas is also being used extensively to insulate electrical installations such as wind turbines. Its superior arc-quenching and insulating characteristics allow the production of different types of high-voltage circuit breakers and switching stations with compact designs, better features, reduced noiselevels, etc. The conventional gas-insulated transmission lines are packed with sulfur hexafluoride gas to offer insulation during high-voltage power transmissions. The focus has now shifted to gas-insulated, high-voltage cables as well as tubular transmission lines for distribution high-power in heavily concentrated industrial areas.

Sulfur Hexafluoride

The regional trends and factors influencing the Sulfur hexafluoride Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Sulfur hexafluoride Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Sulfur hexafluoride Market Report Scope

Sulfur hexafluoride Market Players Density: Understanding Its Impact on Business Dynamics

The Sulfur hexafluoride Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Report Spotlights

• Progressive industry trends in the global sulfur hexafluoride market that help players develop effective long-term strategies
• Business growth strategies adopted by developed and developing markets
• Quantitative analysis of the sulfur hexafluoride market from 2017 to 2027
• Estimation of global sulfur hexafluoridede market and across various industries
• PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
• Recent developments to underst and the competitive market scenario and global sulfur hexafluoride demand
• Market trends and outlook, and factors driving and restraining the growth of the market
• Understanding of strategies that underpin commercial interest with regard to global sulfur hexafluoride market growth, which facilitates effective decision-making process
• Sulfur hexafluoride market size at various nodes of market
• Detailed overview and segmentation of the market, as well as dynamics in the industry
• Global sulfur hexafluoride market size in various regions with promising growth opportunities in the these regions

Sulfur hexafluoride Market, by Grade

• Electronic Grade
• UHP Grade
• Standard Grade

Sulfur hexafluoride Market, by End-Users

• Power and Energy
• Electronics
• Metal Manufacturing
• Medical
• Others

Company Profiles

• 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
• Matheson Tri-Gas, Inc