Rise in Electricity Consumption Worldwide Creates Opportunities for Sulfur Hexafluoride Market, Emphasizes TMR

-  Sulfur hexafluoride market is expected to reach the valuation of US$ 340.75 Mn by end of forecast period of 2018 to 2026. Consistent growth in the demand for electricity is one of the key drivers of the market. 

-  Increase in population and demand for electricity in Asia Pacific to make it a key regional market

ALBANY, N.Y., Aug. 19, 2021 /PRNewswire/ -- Sulfur hexafluoride finds a wide range of applications in cooling and insulating applications in the electric and power industry. Some of the key reasons driving the demand for the sulfur hexafluoride include its excellent dielectric strength and advanced thermal stability. Technical grade and electronic grade are some of the key product types available in the sulfur hexafluoride market.

According to the Transparency Market Research analysts, the global sulfur hexafluoride market is likely to expand at a CAGR of 6.3% during the forecast period of 2018–2026.

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Sulfur Hexafluoride Market: Key Findings

• Electrical Transmission and Distribution: Prominent Market Segment

The electrical transmission and distribution devices such as gas insulated switchgears and circuit breakers are key applications of sulfur hexafluoride. Sulfur hexafluoride holds superior dielectric strength. As a result, there are no substitutes in medium voltage and high voltage circuit breakers and gas insulated switchgears for this product. Owing to this factor, the market is experiencing high sales opportunities.

• Focus on Sulfur Hexafluoride Re-use Programs Offers Promising Growth Opportunities for Market Players

Sulfur hexafluoride is gaining traction as an important part in the electrical transmission and distribution applications. Some of the key properties supporting product use include chemical inertness, non-toxicity, and non-flammability. However, due to high GWP of sulfur hexafluoride, it is considered responsible for increasing environmental concerns pertaining to the global warming. For this reason, the sulfur hexafluoride gas reclaiming process from electrical installations is essential as well as beneficial due to ecological and economic reasons.

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Sulfur Hexafluoride Market: Growth Boosters

• In the past few years, there has been a significant growth in the demand for electricity from all across the globe, owing to the increasing demand from commercial, residential, and industrial sectors. This factor is expected to translate into increased sales opportunities for players in the global sulfur hexafluoride market in the forthcoming years.
• Sulfur hexafluoride gas holds high performance properties, including superior thermal stability and dielectric strength. As a result, it finds application in leak detection activities. Apart from this, the product is also used as a gaseous dielectric for transformers, condensers, and circuit breakers. Thus, the sulfur hexafluoride market is expected to offer profitable business opportunities in the upcoming years.
• Many developed and developing countries across the globe are witnessing rapid industrialization. As a result, there is an exceptional growth in the installation of high voltage switchgears in these regions. This factor is likely to create high demand for sulfur hexafluoride in the near future.
• Asia Pacific is one of the key regions in the sulfur hexafluoride market. This market market is anticipated to expand at a CAGR of 6.4% during the forecast period

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Sulfur Hexafluoride Market: Key Players

The report profiles key players operating in the global sulfur hexafluoride market. The study offers important data pertaining to company overview, business strategies, recent developments, and financial overview of each player in the market. Some of the key players operating in the sulfur hexafluoride market include:

• AGC Chemicals
• Solvay
• SHOWA DENKO K.K.
• Kanto Denka Kogyo Co., Ltd.
• Air Products and Chemicals, Inc.
• The Linde Group
• Fujian Shaowu Yongfei Chemical Co., Ltd
• Air Liquide
• Axcel Gases
• Wuxi Tianzhi Chemical Technology Co., Ltd.
• Concorde Specialty Gasesc
• Shandong Ruihua Fluoride Industry Co. Ltd

Sulfur Hexafluoride Market: Segmentation

Global Sulfur Hexafluoride Market, by Grade

• Technical
• Electronic
• Other (including Metallurgical and Medical)

Global Sulfur Hexafluoride Market, by Application

• Electrical Transmission and Distribution
• Semiconductor Manufacturing
• Others (including Magnesium Production and Ophthalmological Surgeries)

Global Sulfur Hexafluoride Market, by Region

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Russia & CIS
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• ASEAN
• South Korea
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
• GCC
• South Africa
• Rest of Middle East & Africa

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