Sulfur Hexafluoride Market Size was valued at USD 0.27 billion in 2022. The Sulfur Hexafluoride market industry is projected to grow from USD 0.29 Billion in 2023 to USD 0.44 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.35% during the forecast period (2023 - 2030).
There are many uses for the colorless chemical sulfur hexafluoride. It is also inflammable-free. This possible chemical contains an inorganic greenhouse gas. The chemical is ideal for a wide range of applications due to its outstanding electrical insulator characteristics. Fluorine particles frequently contain sulfur hexafluoride, which has an octahedral geometry. It can be purchased as compressed liquefied gas. Sulfur hexafluoride is offered in a variety of grades on the market. The end-users have a huge need for the chemical's pure grade.
Several industries manufacture this component on a huge basis. Large-scale production is done through the direct fluorination of sulphur that is of the highest quality. Hexafluoride can be transported using vapour pressure in cylinders and tube trucks. It possesses remarkable electric insulating qualities as well as excellent dielectric properties. These characteristics make a wide range of electrical applications possible. Transformers and high-voltage circuit breakers are used in these applications.
Also, a lot of gas-insulated power substations include sulphur gas installations. Microwave antennas, transmission lines, voltage switchgear, radar equipment, accelerators, and generators are a few other applications for sulphur hexafluoride 6. Sulfur hexafluoride has numerous non-electrical uses, according to six. Among of the common uses of the items include the usage of sulphur hexafluoride six in ultrasound technology and monitoring systems. The market value for sulphur hexafluoride will rise overall as a result of all these factors.
A key demand generator in the market is the demand from the electronics and electrical sector. The demand for power is very strong in emerging countries. Also, the requirement for energy in residential and commercial places is rising as a result of expanding economic activities. Any developing economy needs sustainable energy. High growth is being caused by the use of semiconductors and the electronics industry.
A substance with high insulation properties, sulphur hexafluoride, can lower energy use. Due to the use of this chemical, energy efficiency is great. This product is heavily used in electrical facilities and semiconductors. All of these trends will have a positive effect on market revenue rates. Also, the use of sulphur hexafluoride in the medical field is expanding. This substance or gas has a wide range of applications in the medical field.
The need for medical services has increased dramatically in recent years. The medical market is under a lot of strain as a result of the COVID 19 epidemic. But the market is being impacted by this growing demand for quality care. High market increase has resulted from the usage of sulphur hexafluoride in numerous medical advances. Due to growing usage, the sulphur hexafluoride product will have a high penetration rate.
Sulfur hexafluoride is used as a dielectric medium in switchgear, capacitors, circuit breakers, and other electric appliances, among other electronics applications. Sulfur hexafluoride is a perfect dielectric material for circuit breakers since it can operate in a range of 33 kV to 800 kV. Sulfur hexafluoride can be used to create a wide range of appliances with various operating conditions and operating ranges.
Due to their economic progress and rising living standards, emerging countries have seen a steady rise in the need for power, which is in turn driving up demand for household gadgets like televisions, mobile phones, and other equipment.
Sulfur hexafluoride is required for the production of high voltage transmission systems and equipment, therefore its adoption in some developing countries could boost demand even more.
The Energy Information Administration (EIA) predicts that between 2018 and 2050, energy consumption would rise by over 50%. Also, between 2018 and 2050, it is predicted that the amount of electricity consumed will rise by 79%.
The demand for appliances and personal items rises along with the populations and living standards of non-OECD countries, driving up residential electricity usage. As more plug-in electric cars enter the fleet and rail electrification increases, there is also a rise in the consumption of electricity in the transportation sector.
Throughout the projection period, all of the aforementioned elements are anticipated to increase demand for sulphur hexafluoride for electronic applications.
Figure 2: SULFUR HEXAFLUORIDE MARKET, BY APPLICATION, 2022 & 2030 (USD BILLION)
Asia Pacific, Europe, and North America make up the major segments of the regional sulphur hexafluoride market. With a large number of shares, the Asia Pacific region is the largest market. The market is seeing a sharp increase in demand from different user ends. Due to increasing investments and power plants, there is a large market for the product in the Asia-Pacific region.
Another element that boosts sulphur output is the market's low cost of labour. The product is in significant demand in North America, the second-largest market. Sulphur is in high demand in the electronics industry. The sulphur market has a lot of potential in Europe, which is also the second-largest region. The product is widely used in the medical sector. High review rates will be influenced by all worldwide players.
Figure 2: SULFUR HEXAFLUORIDE MARKET, BY REGION, 2022 & 2030 (USD BILLION)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
A few number of large-scale vendors control the majority of the market share for sulphur hexafluoride on a basis. The majority of businesses are making large investments in thorough research and development to increase equipment reliability and lower emissions. Product portfolio diversification and mergers and acquisitions are the two main techniques used by market participants.
In June 2021: For the provision of sulphur hexafluoride gas, the Indian Department of Atomic Energy (DAE) published a request for proposals. The switchgear industry in India is expected to grow significantly, which will increase demand for SF6 gas. Since SF6 cannot be produced in India, it must be imported. BARC has acquired process expertise for the production of SF6 gas at the level of a semi-pilot plant. This includes the creation of fluorine, a vital component of fundamental substances.
In January 2021 In the Xuancheng, Anhui Province, China, area known as the Anhui Xuancheng Hi-Tech Industrial Development District, Kanto Denka Kogyo has started building its first gas production facility. For the purpose of developing the new factory, a 5% investment was obtained from Hangzhou Hengyuan Engineering Management to launch a new company called Xuancheng KDK Technology. In the end of 2021, the first phase of development was completed. The People's Government of Xuancheng intends to build two production buildings, its headquarters, and storage facilities. Moreover, 7,700 tonnes of fluorinated gases will be produced annually.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 0.27 billion |
| Market Size 2023 | USD 0.29 billion |
| Market Size 2030 | USD 0.44 billion |
| Compound Annual Growth Rate (CAGR) | 5.35% (2023-2030) |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019 & 2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Grade, Application and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
| Countries Covered | U.S., Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, Brazil, Argentina, Mexico, South Africa, Turkey, GCC. |
| Key Companies Profiled | Solvay (Belgium), The Linde Group (Ireland), SHOWA DENKO K.K. (Japan), Concorde Specialty Gases, Inc (US), Air Products and Chemicals, Inc (US), Advanced Specialty Gases (US), Matheson Tri-Gas, Inc (US), Praxair Technology, Inc (US), Electronic Fluorocarbons, LLC (US), Bengal Gases (India), PURITYPLUS SPECIALTY GASES (US), Ajay Air Products Pvt. Ltd (India) |
| Key Market Opportunities | Expansion of the Sulfur Hexafluoride Applications. |
| Key Market Dynamics | Increasing Demand from Electronics and Electrical Industry |
Sulfur Hexafluoride Market Highlights:
Frequently Asked Questions (FAQ) :
The Sulfur Hexafluoride market size was valued at USD 0.27 Billion in 2022.
The Sulfur Hexafluoride market is projected to grow at a CAGR of 5.35% during the forecast period, 2023-2030.
Asia Pacific had the largest share of the Sulfur Hexafluoride market.
The key players in the Sulfur Hexafluoride market are Solvay (Belgium), The Linde Group (Ireland), SHOWA DENKO K.K. (Japan), Concorde Specialty Gases, Inc (US), Air Products and Chemicals, Inc (US), Advanced Specialty Gases (US), Matheson Tri-Gas, Inc (US), Praxair Technology, Inc (US), Electronic Fluorocarbons, LLC (US), Bengal Gases (India), PURITYPLUS SPECIALTY GASES (US), Ajay Air Products Pvt. Ltd (India)
The electronics grade dominated the Sulfur Hexafluoride market in 2023
Research Analyst Level I In her 3 years of experience in the market research field, she has handled critical cross-domain projects. she has an in-depth knowledge of market estimation & analysis, problem-solving, primary as well as secondary research, and team management.she holds an engineering degree and is an mba professional from a well-known university, capable of evaluating the market and competitive conditions. an exceptional strategist with excellent communication skills and a passion for delivering cutting-edge & practical insights for the market. proficient in multi-tasking, and can successfully deal with competing demands, while maintaining complete confidentiality. generated business through active client and project development, networking, and high-quality responses. her knowledge and skills have helped in making solid business decisions, securing funding from investors, and avoiding business failures.
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