Sulfur Hexafluoride Market Size, Share & Trends Estimation Report By Product (Electronic Grade, UHP Grade, Standard Grade),By Application (Power & Energy, Medical, Metal Manufacturing, Electronics,), By Region, And Segment Forecasts, 2023 - 2030
The Global Sulfur Hexafluoride Market Was Valued At US$ 259.6 Mn in 2022, It Is Expected To Reach Value Of US$ 418.7 Mn By 2030, At A CAGR Of 5.5% From 2022 To 2030.
Sulfur Hexafluoride Market Overview
Over the next seven years, the market is expected to grow a lot because more and more electrical and electronic appliances need it as a dielectric medium. Sulfur hexafluoride is used a lot in the medical field for surgeries that don't hurt the patient. It is used in echocardiograms to find out where the problem is and what's causing it. The market will also grow because there is more demand for high voltage transformers, switchgear, and circuit breakers in the power and energy industry.
Sulfur, fluorine, Sulfur Hexafluoride, and cobalt (III) fluoride are the raw materials that are used to make sulphur hexafluoride. Since making these raw materials is so complicated, it costs a lot to make them and get them to people who need them. Also, because the raw materials are dangerous, it costs a lot to handle them. Because of this, the high cost of raw materials has made competition between suppliers very tough.
Manufacturers of sulphur hexafluoride are using new product development, joint ventures, partnerships, collaborations, and agreements, among other methods, to increase their market share and meet the changing technological needs of different end-use applications.
Compared to other parts of the world, the price of sulphur hexafluoride has changed less in the Asia-Pacific region. This trend is seen because local businesses are making more in bulk to meet the growing demand from developing countries. But more SF6 will be exported, which is expected to raise prices over the next few years.
In Europe, the production and supply of sulphur hexafluoride are limited by rules set by the government about how it can be used. These policies have hurt the market, which means that manufacturers aren't making as much as they used to. But only a few companies still make SF6, which has greatly raised the price of the product.
The electronics and electrical industry is one of the most important things that drive demand in the market. The developing world has a lot of electricity needs. Also, as the economy grows, more electricity is needed by people and businesses. For an economy to grow, it needs a lot of energy that can be used over and over again. The use of semiconductors and the growth of the electronics market both lead to high growth.
Sulfur hexafluoride is a chemical that can help save energy because it is a good insulator. By using this chemical, a lot of energy is saved. A lot of electrical plants and semiconductors use this product. All of these changes will help the income rates on the market. The medical field is also using sulphur hexafluoride more and more. In the health care field, this chemical or gas is used in many ways.
In the past few years, there has been a huge need for medical care. The covid 19 outbreak is making the medical market very busy. But the market is changing because more and more people want good care. Many medical treatments use sulphur hexafluoride, which has helped the market grow quickly. Since more and more people are using it, sulphur hexafluoride will have a big market share.
The number of uses for Sulfur hexafluoride is expected to grow. As the product is used more in the electronics industry, it will open up a lot of growth opportunities. In electronics, sulphur hexafluoride is used to make dielectric mediums that are used in switchgear, circuit breakers, and capacitors. In the coming years, more and more electronic products will use this product. It will give the market a lot of chances to grow quickly.
Sulfur hexafluoride is a suitable dielectric medium for circuit breakers. It can work with voltages from 33 kV to 800 kV, which makes it a great option. Sulfur hexafluoride can be used to make many different kinds of appliances that work in many different ways. Because of these things, the product will be used and sold more in the coming years.
As economies in emerging countries improve and living standards rise, so does the amount of electricity they use. The market is also affected by the growing demand for cell phones, TVs, and other home goods. When the product is used in the consumer electronics market, it will make a lot of money.
Some developing countries may need more sulphur hexafluoride if they switch to direct current transmission at high voltage. Sulfur hexafluoride will be used in high-tech ways that will make a lot of supply and money for the market.
The market is held back by the high price of sulphur hexafluoride. It is a chemical or gas that takes up a lot of space and can be used in high-end ways. Some end users may use less sulphur hexafluoride if it costs too much. There are cheaper alternatives to the chemical that is usually used.
The cost is high to use, store, and work with sulphur hexafluoride. Because of these things, the market is making less money. The big players in the market are taking steps to cut costs. But the costs of storing and putting pressure on the market are high. All of these things make the final rate go up. These things can make it harder for people to join the market.
Sulfur hexafluoride is a strong gas that has some unusual properties. This product is being used more and more in electronics, cars, and medical equipment. It is 2,000,000,000 times stronger than gases like CO2.
Its use of gas can cause the Earth to warm up. One thing that makes the market hard is that the product is bad for the environment. Using a lot of the product can have effects on both people and the environment. Because sulphur hexafluoride is so dangerous, the number of people who want it may go down. All of these things can make it hard for this market to grow.
In 2019, 85.2% of the total revenue came from standard grade sulphur hexafluoride, which was the most popular product around the world. Market growth is likely to be helped by the growing need for standard grade of the product to make high-voltage circuit breakers, which are used to make power and energy.
Electronic grade sulphur hexafluoride is used to make integrated circuits, semiconductors, and particle accelerators. In the semiconductor industry, it is also used as a gas to clean the chambers. The demand 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.
Due to the size and density of its molecules, sulphur hexafluoride is used as an etching gas in the making of MEMS and flat-panel displays. Because SF6 ions are very active and have a lot of energy, they etch at a faster rate. Because of this, the demand for SF6 in these uses is expected to grow over the next few years.
Most of the time, UHP grade sulphur hexafluoride is used to make electronic devices and for non-invasive medical procedures. UHP grade is the most pure and contaminant-free form of sulphur hexafluoride. This is a requirement in the medical field to make sure that patients are safe. It is also used in medicine to look at things like tumours, uterine fibroids, and adenomyosis, which is what drives its demand in medical applications.
In 2018, power and energy was the biggest market for sulphur hexafluoride, and this is likely to stay the case over the next few years. Sulfur hexafluoride is used to make high-voltage circuit breakers, switchgear, and Gas Insulated Switchgear (GIS). These are used in power and energy generation plants, which are the main markets for the product in the power and energy industry.
SF6 is used to insulate the high-voltage generators in particle and electron accelerators that are used to improve the properties of polymeric materials. Also, sulphur hexafluoride is used to make circuit breakers, which are used in power generation and distribution stations to stop electric currents from flowing when a safety relay trips.
With a CAGR of 7.0% over the next few years, the medical segment is expected to grow the fastest as a whole. Sulfur hexafluoride is used a lot in the medical field to help surgeons do their jobs. During surgery to separate the retina, the chemically stable gas is used as a plug. It makes it easier to find deformities by making blood vessels easier to see during ultrasound imaging.
Sulfur hexafluoride is used to cast magnesium and aluminium in foundries and other places. It is used as a degassing agent in magnesium casting and to stop harmful by-products from forming in magnesium casting. The gas cuts down on molten metal waste by stopping metals from rusting quickly when they come into contact with air. This helps manufacturers cut down on their production costs, which drives the demand for metal casting products.
In 2021, about half of the market for sulphur hexafluoride was in Asia and the Pacific. In Asia-Pacific in 2021, the technical grade segment was the most valuable part of the market. During the time frame of the forecast, the electrical T&D application segment is expected to grow by about 6.5% in Asia Pacific.
During the forecast period, the market for sulphur hexafluoride in North America and Europe is expected to grow at a CAGR of nearly 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 of the growing demand for semiconductors in electric cars in the automotive industry there.
Compared to the Middle East and Africa, the sulphur hexafluoride market in Latin America is growing quickly. When it comes to consumption, however, the Middle East and Africa have a bigger share than Latin America.
|Units||Value (USD Billion)
|Growth Rate||CAGR of 5.5% from 2023 to 2030|
|Reasons to Purchase this Report||
- 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.
This portion of the study on the Sulfur Hexafluoride Market gives detailed data on the segments at the country and regional level, thereby aiding the strategist in determining the target demographics for the relevant product or service and the impending opportunities.
- Electronic Grade
- UHP Grade
- Standard Grade
- Power & Energy
- Metal Manufacturing
- Linde Group
- Advanced Specialty Gases
- Concorde Specialty Gases
- Kanto Denka Kogyo
- Qinghai Xinhe
- Showa Denko
- Fujian Shaowu Yongfei
- Huaneng Fluorin
- Yingde Gases
- Chengdu Kemeite
- Fluoride Liming Research Institute
- Shandong Ruihua