(MENAFN- PR Newswire)
NEW YORK, June 27, 2024 /PRNewswire/ -- The global sulfur hexafluoride (SF6) market
size is estimated to grow by USD 111.9 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of
7.45%
during the forecast period.
Rising demand for electricity in developing nations
is driving market growth,
with a trend towards
increasing interest in Semiconductor devices. However,
hazardous impact of sulfur hexafluoride on environment
poses a challenge. Key market players include Advanced Specialty Gases LLC, AGC Inc., Air Liquide SA, Air Products and Chemicals Inc., ATCO Atmospheric And Speciality Gases Pvt. Ltd., Axcel Gases, Concorde Specialty Gases Inc., DILO Co. Inc., Electronic Fluorocarbons LLC., Fujian Shaowu Yongfei Chemical Co. Ltd., Kanto Denka Kogyo Co. Ltd., Linde Plc, Mitsubishi Chemical Group Corp., Qingdao Ruiming Blue Sky Energy Co. Ltd., Resonac Holdings Corp., SEMA Gases, Shouguang Weidong Chemical Co. Ltd., SicgilSol India Pvt. Ltd., Solvay SA, and Vizag Chemical International.
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Technavio has announced its latest market research report titled Global sulfur hexafluoride (SF6) market 2024-2028
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| Forecast period |
2024-2028 |
| Base Year |
2023 |
| Historic Data |
2018 - 2022 |
| Segment Covered |
Product (Electronic grade, UHP grade, and Standard grade), End-user (Power and energy, Metal manufacturing, Medical, Electronics, and Others), and Geography (APAC, North America, Europe, Middle East and Africa, and South America) |
| Region Covered |
APAC, North America, Europe, Middle East and Africa, and South America |
| Key companies profiled |
Advanced Specialty Gases LLC, AGC Inc., Air Liquide SA, Air Products and Chemicals Inc., ATCO Atmospheric And Speciality Gases Pvt. Ltd., Axcel Gases, Concorde Specialty Gases Inc., DILO Co. Inc., Electronic Fluorocarbons LLC., Fujian Shaowu Yongfei Chemical Co. Ltd., Kanto Denka Kogyo Co. Ltd., Linde Plc, Mitsubishi Chemical Group Corp., Qingdao Ruiming Blue Sky Energy Co. Ltd., Resonac Holdings Corp., SEMA Gases, Shouguang Weidong Chemical Co. Ltd., SicgilSol India Pvt. Ltd., Solvay SA, and Vizag Chemical International |
Key Market Trends Fueling Growth
Sulfur hexafluoride (Sf6) is a crucial gas in the semiconductor industry, particularly for manufacturing ICs, flat panels, photovoltaic panels, and MEMS. Its high density and large molecule size make it ideal for etching in flat-panel displays and MEMS production. The semiconductor sector demands high gas purity to prevent contamination and ensure high resolution. Market growth is driven by increasing customer demand for ICs, smartphones, and flat-panel devices. Sf6 helps address challenges like electrical losses, poor reliability, and stress in IC manufacturing, ensuring efficient production and minimizing wafer damage.
The Sulfur Hexafluoride (SF6) market has seen significant growth in recent years due to its unique properties. This compound is used primarily as an electrical insulator and as a cooling agent in various industries. The demand for SF6 is driven by the power generation sector, particularly in the production of high voltage electrical equipment. The use of SF6 in the petroleum industry is also on the rise, as it is an effective agent for enhancing oil recovery. The trend towards more efficient and sustainable energy solutions is expected to continue driving the demand for SF6 in the coming years. The market for SF6 is expected to grow steadily, with increasing demand from the power and petroleum industries. The use of SF6 in other applications, such as in the semiconductor industry, is also expected to contribute to the market growth. The market for SF6 is expected to remain strong, with continued growth in the power and petroleum sectors.
Research report provides comprehensive data on impact of trend. For more details-
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Market
Challenges
The Sulfur
Hexafluoride (Sf6) market focuses on reducing emissions from the electrical power industry due to Sf6's high global warming potential and long atmospheric lifetime. The US EPA and California Air Resources Board have initiated programs to manage Sf6 emissions, with the US EPA promoting cost-effective solutions like leak detection and repairs, and recycling. Regulations, such as those imposed by the California Air Resources Board, aim to phase out Sf6 use in gas-insulated equipment. Despite these efforts, the toxicity of Sf6 makes employee training challenging, potentially hindering market growth.
The Sulfur Hexafluoride (SF6) market faces several challenges. Electric utilities and power generation industries rely on SF6 for its excellent electrical insulating properties. However, its high global warming potential is a significant concern. Regulations aim to limit its usage due to its impact on the environment. Additionally, the high cost of SF6 compared to alternative gases is a challenge for some industries. The complex manufacturing process also adds to the cost. Furthermore, the handling and disposal of SF6 require specialized knowledge and equipment, posing safety and logistical challenges. Despite these challenges, SF6 continues to be a preferred choice for high-voltage electrical applications due to its unique properties.
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Segment Overview
This sulfur hexafluoride (sf6) market report extensively covers market segmentation by
Product
1.1 Electronic grade
1.2 UHP grade
1.3 Standard grade
End-user
2.1 Power and energy
2.2 Metal manufacturing
2.3 Medical
2.4 Electronics
2.5 Others
Geography
3.1 APAC
3.2 North America
3.3 Europe
3.4 Middle East and Africa
3.5 South America
1.1 Electronic grade-
The Sulfur Hexafluoride (SF6) market is significant due to its extensive usage in various industries. It is a potent insulating gas, primarily employed in electrical equipment and switchgears. SF6 offers excellent electrical insulation properties, making it an indispensable component in high-voltage power transmission. Additionally, its low toxicity and non-flammability make it a preferred choice in industrial applications. The global SF6 market is expected to grow steadily, driven by increasing demand for reliable and efficient electrical infrastructure.
For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 - 2022)
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Research Analysis
The Sulfur Hexafluoride (Sf6) market encompasses the production, application, and trade of this odorless, colorless, nontoxic gas in various industries. Sf6 is extensively used in the electric power sector for insulating gas-insulated substations and switchgear due to its superior dielectric properties and ability to withstand high voltages. In generating stations, Sf6 is employed as a warming gas to maintain equipment reliability and reduce emissions. The automotive sector also procures Sf6 at the procurement level for its use in refrigeration systems. Sf6's unique properties, such as being odorless, colorless, nontoxic, and non-reactive with water, make it an ideal choice for numerous applications. Silicides are sometimes used in the production of Sf6, further expanding its industrial relevance.
Market Research Overview
The Sulfur Hexafluoride (Sf6) market refers to the global trade of this essential industrial gas. Sulfur Hexafluoride is a colorless, odorless, and non-flammable gas, primarily used as an electrical insulator and as a refrigerant. Its unique properties, such as high thermal stability and excellent dielectric strength, make it an indispensable component in various industries, including power generation, semiconductor manufacturing, and MRI systems. The global Sulfur Hexafluoride market is driven by the increasing demand for efficient electrical insulation and refrigeration systems. Additionally, the growing adoption of Sulfur Hexafluoride in the semiconductor industry due to its excellent insulating properties further boosts market growth. The market is expected to witness significant growth in the coming years due to these factors and the ongoing technological advancements in the field of gas technology.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Product
Electronic Grade
UHP Grade
Standard Grade
End-user
Power And Energy
Metal Manufacturing
Medical
Electronics
Others
Geography
APAC
North America
Europe
Middle East And Africa
South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
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Media & Marketing Executive
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SOURCE Technavio
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