Farmington, Jan. 26, 2023 (GLOBE NEWSWIRE) -- The Global Sulfur Hexafluoride Market Was Valued At US$ 259.6 Million in 2022, It Is Expected To Reach Value Of US$ 418.7 Million By 2030, At A CAGR Of 5.5% From 2022 To 2030. The market is expected to grow a lot over the next seven years because more and more electrical and electronic devices need it as a dielectric medium. Sulfur hexafluoride is used a lot in surgery to keep the patient from getting hurt. It is used in echocardiograms to figure out where and what the problem is. The power and energy industry needs more high voltage transformers, switchgear, and circuit breakers. This is another reason why the market will grow.
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Recent Developments:
- In June 2021, India's Department of Atomic Energy (DAE) put out a call for bids to supply sulphur hexafluoride gas. India is likely to need more SF6 gas because the switchgear industry is growing quickly. Since India doesn't make SF6, it has to be brought in. BARC has developed the process know-how for making SF6 gas in a semi-pilot plant. This includes making fluorine, which is an important basic ingredient.
- In January 2021, Kanto Denka Kogyo started building its first gas production centre in Xuancheng, Anhui Province, China, in the Anhui Xuancheng Hi-Tech Industrial Development District. About 5% of the money for building the new factory came from Hangzhou Hengyuan Engineering Management. This money was used to start a new business called Xuancheng KDK Technology. At the end of 2021, the first stage of building was done. The People's Government of Xuancheng wants to build a headquarters, a place to store things, and two places to make things. It also plans to make 7,700 tonnes of fluorinated gases every year.
Segment Overview
Product Insights
In 2019, standard grade sulphur hexafluoride brought in 85.2% of all revenue. This was because it was the most popular product around the world. The growing need for standard grade of the product to make high-voltage circuit breakers, which are used to make power and energy, is likely to help the market grow.
With sulphur hexafluoride for electronics, people can make integrated circuits, semiconductors, and particle accelerators. It is also used as a gas to clean the chambers in the semiconductor business. The need for electronic grade sulphur hexafluoride is driven by the fact that SF6 gas makes the right amount of F radicals to remove Si-based layers from the walls of plasma chambers.
Application Insights
In 2018, the biggest market for sulphur hexafluoride was the power and energy industry, and this is likely to stay true for the next few years. High-voltage circuit breakers, switchgear, and Gas Insulated Switchgear are all made with sulphur hexafluoride (GIS). These are used in power plants, which are the main places where the product is sold in the power and energy industry.
In particle and electron accelerators, which are used to improve the properties of polymeric materials, SF6 is used to insulate the high-voltage generators. Also, sulphur hexafluoride is used to make circuit breakers, which are used in power stations to stop electric currents from flowing when a safety relay trips.
Regional Outlook:
In 2021, Asia and the Pacific made up about half of the market for sulphur hexafluoride. In Asia-Pacific in 2021, the most valuable part of the market was the technical grade segment. In Asia Pacific, the electrical T&D application segment is expected to grow by about 6.5% during the time frame of the forecast.
During the forecast period, the market for sulphur hexafluoride in North America and Europe is expected to grow at a CAGR of almost 6%. In the near future, North America is likely to have a big share of the market, while Europe's market is likely to grow a lot because the automotive industry there is using more and more semiconductors in electric cars.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 5.5% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 418.7 Million |
| By Product | Electronic Grade, UHP Grade, Standard Grade, Other |
| By Application | Power & Energy, Medical, Metal Manufacturing, Electronics, Others |
| By Companies | Matheson, Linde Group, Advanced Specialty Gases, Concorde Specialty Gases, Kanto Denka Kogyo, Qinghai Xinhe, Showa Denko, Fujian Shaowu Yongfei, Huaneng Fluorin, Solvay, Yingde Gases, Airgas, Chengdu Kemeite, Fluoride Liming Research Institute, Shandong Ruihua |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Drivers:
One of the drinks that people around the world drink the most is Sulfur Hexafluoride. The Sulfur Hexafluoride market is big in North America. Nearly 71% of people in the US use Sulfur Hexafluoride every day. In Europe, the Sulfur Hexafluoride market is growing because single-serve and specialty Sulfur Hexafluoride methods are becoming more popular. The number of Sulfur Hexafluoride bags exported around the world rose from 10.83 million in February 2019 to 11.11 million in February 2020, according to the International Sulfur Hexafluoride Organization (ICO). In one year, this is a gain of 2.6%. According to the latest data from the International Sulfur Hexafluoride Organization (ICO), Europe was the place where people bought the most. Asia-Pacific and North America are two other important places where Sulfur Hexafluoride is used the most.
Opportunity:
Sulfur hexafluoride is likely to be used for more and more things. As the product is used more in the electronics industry, it will create a lot of growth opportunities. In electronics, sulphur hexafluoride is used to make dielectric mediums, which are used in switchgear, circuit breakers, and capacitors. In the years to come, this product will be used in more and more electronic items. The market will have a lot of chances to grow quickly.
Key Segments Covered:
Top Market Players:
Matheson, Linde Group, Advanced Specialty Gases, Concorde Specialty Gases, Kanto Denka Kogyo, Qinghai Xinhe, Showa Denko, Fujian Shaowu Yongfei, Huaneng Fluorin, Solvay, Yingde Gases, Airgas, Chengdu Kemeite, Fluoride Liming Research Institute, Shandong Ruihua, and others.
By Product
- Electronic Grade
- UHP Grade
- Standard Grade
- Other
By Application
- Power & Energy
- Medical
- Metal Manufacturing
- Electronics
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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