The market is segmented by Product Type (Electronic/Technical Grade and Ultra-high Purity Grade), Application (Power & Energy, Electronics, Metal Manufacturing, Medical, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East & Africa).
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Scope of the Report
Key Market Trends
TABLE OF CONTENTS
Fastest Growing Market:
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The market for sulfur hexafluoride is anticipated to register a CAGR of over 5% during the forecast period. Growing demand for electricity in developing countries is expected to drive the demand for sulfur hexafluoride during the forecast period.
Environmental impact, such as increasing global warming and pollution, is likely to hinder the market’s growth.
Adoption of HVDC transmission in developing nations is projected to act as an opportunity for the market in the future.
Scope of the Report
The sulfur hexafluoride market report includes:
Ultra-high Purity Grade
Power & Energy
Rest of Asia-Pacific
Rest of Europe
Rest of South America
Middle-East & Africa
Rest of Middle-East & Africa
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Key Market Trends
Electronics Segment to Drive the Market Growth
The second-biggest application of sulfur hexafluoride is as a dielectric medium in switchgear, capacitors, circuit breakers, and other electric appliances.
Sulfur hexafluoride is suitable for operating in a range of 33 KV to 800 KV, which makes it an ideal dielectric medium for circuit breakers. A large number of appliances with varied operating conditions and operating ranges can be made with the help of sulfur hexafluoride.
The demand for electricity has been steadily increasing in developing nations due to their economic development and increasing living standards. One of the major reasons for this is the increasing demand for mobile, television, and other household appliances.
The adoption of HVDC transmission in some of the developing nations can further increase the demand for sulfur hexafluoride, as it is useful in manufacturing of high voltage transmission systems and equipment.
All the aforementioned factors are expected to drive the demand for the sulfur hexafluoride during the forecast period.
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Asia-Pacific to Dominate the Market
Asia-Pacific accounted for the largest share of the market, followed by North America and Europe.
In Asia-Pacific, there has been a noticeable growth in the capacity additions and installations of new power plants so as to meet the growing demand for electricity.
Over the last few years, while the number of coal-based power plants built worldwide declined, Asia led the world in building new coal-based power plants.
In contrast to North America and Europe, where there has been a sluggish growth in the addition of power generation capacity, countries in Asia are planning and building new power generation plants, to meet their demand for electricity.
The continuing trend of capacity additions and planned projects is driving the market for sulfur hexafluoride in the region.
Moreover, China has the world’s largest electronics production base. Electronic products, such as smartphones, OLED TVs, tablets, wires, and cables, recorded the highest growth in the electronics segment. The country not only serves the domestic demand for electronics, but also exports electronic output to other countries. Owing to the increase in the disposable incomes of the middle-class population in China and the rising demand for electronic products in the countries that import electronic products from China, the production of electronics is estimated to grow further during the forecast period.
China has one of the largest healthcare sectors across the world. Moreover, the country’s 13th Five-year Plan prioritizes health and innovation, which is expected to increase investments in the medical device manufacturing sector during the forecast period. This is expected to raise the production of high-tech medical devices to treat chronic and age-related diseases in the country, which may increase the demand for sulfur hexafluoride in the coming years.
The aforementioned factors are expected to boost the demand for sulfur hexafluoride in the region, in the coming years
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The sulfur hexafluoride market is partially fragmented. Key players in the sulfur hexafluoride market include Solvay, The Linde Group, SHOWA DENKO K.K., Concorde Specialty Gases Inc., and Air Products and Chemicals Inc., among others.