Sulfur Hexafluoride Market Estimations, Business Competitors, Cost Structure, Key Companies

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Sulfur Hexafluoride Market - Snapshot

Sulfur hexafluoride is a non-toxic inert gas that is widely used for insulating and cooling applications in the electric & power industry owing to its superior thermal stability and excellent dielectric strength. Sulfur hexafluoride has key applications in electric power transmission and distribution systems such as gas insulated switchgears (GISs), circuit breakers (CBs), and load break switches due to its electrical insulation property and arc interruption capability. The product has applications in power & energy, metal manufacturing, and electronics industries. The sulfur hexafluoride is an excellent electrical interrupter due to properties such as high dielectric strength, high thermal stability, high density, low heat transfer, non-toxic, and chemically inertness. In terms of grade, the global sulfur hexafluoride market has been bifurcated into electronic and technical. The technical grade segment accounts for a significant share of the market due to its key applications in high voltage and medium voltage circuit breakers and switchgears devices. The grade has purity of 99.9%.Electronic grade of sulfur hexafluoride has purity grade of (>99.999%). It has applications as an etching agent in plasma processing of semiconductor manufacturing industry. 

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Sulfur hexafluoride gas is utilized in leak detection applications and as a gaseous dielectric for circuit breakers, transformers, and condensers. Moreover, sulfur hexafluoride gas has applications in the semiconductor industry, as an effective etchant. Electrical transmission and distribution is a major segment of the global sulfur hexafluoride market. Sulfur hexafluoride is extensively employed in electrical transmission and distribution applications such as circuit breakers and switch gear devices. Direct substitute, having similar dielectric strength and nontoxic properties, of sulfur hexafluoride is unavailable in the market. In terms of volume and value, the technical grade segment accounted for market share of 60%  in 2017. It is a rapidly expanding segment of the market. Growth of the electricity sector to cater to ever-increasing demand for electricity across the globe drives the market. 

Improvements in electricity production due to high demand from residential, commercial, and industrial segments is likely to fuel the sulfur hexafluoride market during the forecast period. Rising demand for homes and infrastructure due to rapid increase in population in countries such as India and China has propelled the need for power utilities. This, in turn, is anticipated to drive the demand for sulfur hexafluoride in the electrical transmission & distribution segment during the forecast period. High demand for end-use applications from the semiconductor manufacturing industry is increasing in countries such as Taiwan, South Korea, Malaysia, and Thailand. This, in turn, is projected to fuel the sulfur hexafluoride market during the forecast period. 

Sulfur hexafluoride has a greenhouse potential (GWP) of 23500 for 100 years. It is a key greenhouse gas; therefore, regulations have been implemented in the international policy to regulate its emissions. Sulfur hexafluoride was included in the 1997 Kyoto Protocol. According to this protocol, many countries mainly in North America and Europe are imposing stringent regulations on emissions of greenhouse gases. Rising environment-related concerns and increase in the number of regulations and their strict implementation are hampering the usage of sulfur hexafluoride across the globe. 

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In terms of volume, Asia Pacific constituted more than 40.0% share of the global sulfur hexafluoride market in 2017. China is a major country for the sulfur hexafluoride market. Various key players and unorganized local players are operating in the country. Based on demand, China constitutes a prominent share of the sulfur hexafluoride market in Asia Pacific due to rapid urbanization, which is increasing the need for power utilities in the country. Sulfur hexafluoride is likely to be phase-out in the near future due to its high GWP value. However, a direct alternative for SF6 in key applications such as medium voltage switchgears is not commercially available Hence, the market is projected to expand at a sluggish pace during the forecast period. The market in Latin America is estimated to expand during the forecast period due to the growth of the magnesium production industry in countries such as Brazil. The market in North America, Europe, and Asia Pacific is projected to expand at a rapid pace, while that in Latin America and Middle East & Africa is anticipated to expand at a sluggish pace between 2018 and 2026. 

The global sulfur hexafluoride market is fragmented with the presence of regional and local players. For instance, Solvay offers sulfur hexafluoride reuse program worldwide, which offers reclaiming of used sulfur hexafluoride gas, analytical services for used sulfur hexafluoride, packaging and transport of used sulfur hexafluoride, and environmental consultation. Prominent players operating in the market include Solvay, AGC Chemicals, Kanto Denka Kogyo Co., Ltd., SHOWA DENKO K.K., The Linde Group, Air Products and Chemicals, Inc., Air Liquide, Axcel Gases, Fujian Shaowu Yongfei Chemical Co., Ltd, Concorde Specialty Gasesc, Shandong Ruihua Fluoride Industry Co. Ltd, and Wuxi Tianzhi Chemical Technology Co., Ltd.

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