[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.
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Sulfur hexafluoride Market: Strategic Insights
Market Size Value in US$ 221.69Million in 2018 Market Size Value by US$ 354.04Million by 2027 Growth rate CAGR of 5.4% from 2019-2027 Forecast Period 2019-2027 Base Year 2019
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Sulfur hexafluoride Market: Strategic Insights
| Market Size Value in | US$ 221.69Million in 2018 |
| Market Size Value by | US$ 354.04Million by 2027 |
| Growth rate | CAGR of 5.4% from 2019-2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
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Global Sulfur Hexafluoride Market
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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.
Sulfur Hexafluoride Market, by Grade - 2018 and 2027
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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.
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
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Grade , End Users , and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Growing adoption of sulfur hexafluoride from in electronics industry is expected to drive the market in coming years. Sulfur hexafluoride possesses excellent properties that make it compatible with electrical appliances. The thermal stability and high dielectric strength of sulfur hexafluoride proffer outstanding cooling and insulating properties. The application of sulfur hexafluoride in the form of a dielectric medium in capacitors, switchgear, circuit breakers, and other electric appliances is a factor driving the growth of sulfur hexafluoride market. Many appliances having an operating range of 33 KV to 800 KV can be made with the help of sulfur hexafluoride. These 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 electronic grade emerged as the fastest growing segment in the global market. Electronic grade SF6 helps 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. This has stipulated the demand for electronic grade sulfur hexafluoride gas.
The Standard grade segment led the market for sulfur hexafluoride in 2020. Sulfur Hexafluoride (SF6) is perceived to be non-toxic, inert, insulating and cooling gas which exhibits high dielectric strength and thermal stability. The production of better equipment with higher capacity and superior performance is possible by deploying the standard grade SF6 which is known to possess excellent electrical, thermal and chemical properties. It is, therefore, considered ideal to be used in both high-voltage and medium-high voltage power circuit breakers as well as in transformers, transducers, high-voltage cables, particle and electron accelerators, X-ray equipment and UHF transmission systems.
Based on end-users, the plastic sulfur hexafluoride segment is anticipated to account for the largest share in the global sulfur hexafluoride market. The power & energy sector is considered to be one of the largest consumers of sulfur hexafluoride in several application bases. SF6 is mainly used as an insulating medium for a diversified range of high voltage electrical and electronic equipment including circuit breakers, switch gears and particles accelerators. The gas is extensively used to insulate electrical installations such as wind turbines.
The major players operating in the global sulfur hexafluoride market are Companies such as 3M, Brady Corporation, Oil-Dri Corporation of America, Cellcomb, Gelok international, Novipax LLC.
During the forecast period, Asia Pacific is anticipated to account for the largest share in the global sulfur hexafluoride market, followed by Europe. Enhanced electrical conductivity and high thermal stability have increased its application which has great usage in semiconductor applications. It is widely utilized in electronic devices to manufacture various components. Electrical appliances contain semiconductor devices such as photovoltaic panels, IC (integrated circuits), flat panels, and MEMS (Micro-Electro-Mechanical-Systems) that are prepared using sulfur hexafluoride. The flourishing electronics industry across regions like India, Japan, China, and South Korea, are propelling the market growth of sulfur hexafluoride.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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