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Sulfur Hexafluoride Market - Forecast(2023 - 2028)
Overview
The Sulfur Hexafluoride Market is
forecast to reach $351 million by 2025, growing at a CAGR of 5.88% during 2020-2025.
Sulfur Hexafluoride is an insulating gas in heavy electrical equipment, such as
high voltage cables and circuit breakers and compact substations. Growing
product demand as an ideal quenching material in distribution voltage
switchgear, linear particle accelerators & generators, high voltage circuit
breakers, and radar equipment is expected to drive demand.
Report Coverage
The report: “Sulfur Hexafluoride Market – Forecast (2020-2025)”, by IndustryARC,
covers an in-depth analysis of the following segments of the Sulfur
Hexafluoride Market.
Key Takeaways
- Asia-Pacific dominates the sulfur hexafluoride market owing to increasing demand from applications such as electronics and power industries.
- Standard grade SF6 was the dominant product segment in 2018 with a percentage share of 75% as it is used in the manufacturing of switchgear and circuit breakers for power & energy generation plants.
- Power & energy application segment accounted for the largest revenue share and is expected to register a CAGR of 6.5% over the forecast period owing to the increasing use of SF6 in high voltage equipment including transformers, switches, and capacitors.
By Product - Segment Analysis
The Standard
Grade segment generated the highest revenue in the market by product. There is
high demand for the product in the power generation segment due to it being an electrical insulator. After more than a
century of rapid growth, global energy demand shows growth slowing and
plateauing around 2030, primarily driven by the penetration of renewable energy
sources into the energy mix. Electrification across key end uses leads to a
doubling of electricity demand by 2050. This is particularly driven by
increased demand in buildings and a shift toward electricity as an energy
source in road transport. Gas is the only fossil fuel which grows its share of
total energy demand until 2035, albeit at declining growth rates, and then plateaus;
even when considering significant sensitivities, gas demand remains robust
within a +/-3% range. Despite a doubling of global GDP (in real terms) between
2016 and 2050, the global primary energy demand will only grows 14%.
Electricity consumption will double until 2050, while renewables make up over
50% of generation by 2035.
By End-Use Industry - Segment Analysis
The power
generation segment was the major one in the overall market. The world continues
to electrify, with around three-quarters of the increase in primary energy
absorbed by the power sector. The strong growth of power demand in developing
economies helps renewables penetrate, but also creates demand for coal, thereby
driving the demand for sulfur hexafluoride. There is growing investment in the power generation
industry with the future electricity demand alone requiring an increase
in power generation capacity of 26-90%, that is, 2 to 6 TW cumulative
installations.
Geography - Segment Analysis
APAC dominated the sulfur
hexafluoride market with a share of more than 45%, followed by North America
and Europe. The economy of APAC is mainly influenced by the economic dynamics of
countries such as China and India, but with growing foreign direct investment for
economic development of South East Asia, the current scenario is changing. Countries
in South East Asia are witnessing high growth in the aviation and automotive
industries. According to OICA, APAC automotive sales witnessed a growth of
over 6.52% during 2012-2018, with South East Asian countries having huge
potential to grow.
Projected actual growth in APEC
is driven primarily by demand growth in China and south-east Asia. In Southeast
Asia, growth nearly doubles (98%) driven by rapid economic development as gross
domestic product (GDP) per capita rises almost fourfold (from USD 12 247 to USD
44 859) over the Outlook period. In 2016, China represented the largest share
(37%) of FED in APEC with 1979 Mtoe, followed by the United States (28%, 1515
Mtoe) and Russia (8.7%, 472 Mtoe). In 2050, China’s share is marginally lower
(35%) but grows in absolute terms to 2 332 Mtoe. The United States also has a
lower share (26%, 1676 Mtoe) despite moderate growth while growth in Russia
barely changes its overall share (8.6%, 565 Mtoe).
Drivers – Sulfur Hexafluoride Market
- Rising demand for power generation using Natural gas
Global
electricity demand in 2018 increased by 4%, or 900 TWh, growing nearly twice as
fast as the overall demand for energy. This was also the fastest increase since
2010, when the global economy recovered from the financial crisis. About a fifth of the growth
in electricity demand last year can be attributed to weather conditions. Demand
for air-conditioning during the summer jumped last year, which ranked as the
fourth hottest year on record. Likewise, colder-than-average winters in North
America increased the call for heating. Natural gas was the second-largest
single source of global electricity generation and grew by almost 240 TWh,
nearly as much as coal. Most of the increase came from the United States, where
gas-fired generation rose by 15% to overtake coal as the largest source of
generation.
Challenges – Sulfur Hexafluoride Market
- Growing demand for solar power generation
By the end of
2018, global cumulative installed PV capacity reached about 512 gigawatts (GW),
of which about 180 GW were utility-scale plants. This represented a growth of
27% from 2017.
Although capacity additions remained flat in 2018, solar PV generation
increased 31% in 2018, and represented the largest absolute generation growth
(+136 TWh) of all renewable technologies, slightly ahead of wind and
hydropower. This is hampering the demand for sulfur hexafluoride in the
non-renewable power generation segment.
Market Landscape
Technology launches, acquisitions and R&D
activities are key strategies adopted by players in the Sulfur Hexafluoride market.
In 2018, the top five players accounted for xx% of the share. Major players in
the Sulfur Hexafluoride Market are Praxair, Honeywell, 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, and
Shandong Ruihua, among others.
1.1 Definitions and Scope
2. Sulfur Hexafluoride Market - Executive summary
2.1 Market Revenue, Market Size and Key Trends by Company
2.2 Key Trends by type of Application
2.3 Key Trends segmented by Geography
3. Sulfur Hexafluoride Market
3.1 Comparative analysis
3.1.1 Product Benchmarking - Top 10 companies
3.1.2 Top 5 Financials Analysis
3.1.3 Market Value split by Top 10 companies
3.1.4 Patent Analysis - Top 10 companies
3.1.5 Pricing Analysis
4. Sulfur Hexafluoride Market - Startup companies Scenario Premium
4.1 Top 10 startup company Analysis by
4.1.1 Investment
4.1.2 Revenue
4.1.3 Market Shares
4.1.4 Market Size and Application Analysis
4.1.5 Venture Capital and Funding Scenario
5. Sulfur Hexafluoride Market - Industry Market Entry Scenario Premium
5.1 Regulatory Framework Overview
5.2 New Business and Ease of Doing business index
5.3 Case studies of successful ventures
5.4 Customer Analysis - Top 10 companies
6. Sulfur Hexafluoride Market Forces
6.1 Drivers
6.2 Constraints
6.3 Challenges
6.4 Porters five force model
6.4.1 Bargaining power of suppliers
6.4.2 Bargaining powers of customers
6.4.3 Threat of new entrants
6.4.4 Rivalry among existing players
6.4.5 Threat of substitutes
7. Sulfur Hexafluoride Market - Strategic analysis
7.1 Value chain analysis
7.2 Opportunities analysis
7.3 Product life cycle
7.4 Suppliers and distributors Market Share
8. Sulfur Hexafluoride Market - Product (Market Size -$Million / $Billion)
8.1 Electronic Grade
8.2 Uhp Grade
8.3 Standard Grade
9. Sulfur Hexafluoride Market - By Type (Market Size -$Million / $Billion)
10. Sulfur Hexafluoride - By Application (Market Size -$Million / $Billion)
10.1 Power Energy
10.2 Medical
10.3 Metal Manufacturing
11. Sulfur Hexafluoride - By Geography (Market Size -$Million / $Billion)
11.1 Sulfur Hexafluoride Market - North America Segment Research
11.2 North America Market Research (Million / $Billion)
11.2.1 Segment type Size and Market Size Analysis
11.2.2 Revenue and Trends
11.2.3 Application Revenue and Trends by type of Application
11.2.4 Company Revenue and Product Analysis
11.2.5 North America Product type and Application Market Size
11.2.5.1 U.S
11.2.5.2 Canada
11.2.5.3 Mexico
11.2.5.4 Rest of North America
11.3 Sulfur Hexafluoride- South America Segment Research
11.4 South America Market Research (Market Size -$Million / $Billion)
11.4.1 Segment type Size and Market Size Analysis
11.4.2 Revenue and Trends
11.4.3 Application Revenue and Trends by type of Application
11.4.4 Company Revenue and Product Analysis
11.4.5 South America Product type and Application Market Size
11.4.5.1 Brazil
11.4.5.2 Venezuela
11.4.5.3 Argentina
11.4.5.4 Ecuador
11.4.5.5 Peru
11.4.5.6 Colombia
11.4.5.7 Costa Rica
11.4.5.8 Rest of South America
11.5 Sulfur Hexafluoride- Europe Segment Research
11.6 Europe Market Research (Market Size -$Million / $Billion)
11.6.1 Segment type Size and Market Size Analysis
11.6.2 Revenue and Trends
11.6.3 Application Revenue and Trends by type of Application
11.6.4 Company Revenue and Product Analysis
11.6.5 Europe Segment Product type and Application Market Size
11.6.5.1 U.K
11.6.5.2 Germany
11.6.5.3 Italy
11.6.5.4 France
11.6.5.5 Netherlands
11.6.5.6 Belgium
11.6.5.7 Denmark
11.6.5.8 Spain
11.6.5.9 Rest of Europe
11.7 Sulfur Hexafluoride - APAC Segment Research
11.8 APAC Market Research (Market Size -$Million / $Billion)
11.8.1 Segment type Size and Market Size Analysis
11.8.2 Revenue and Trends
11.8.3 Application Revenue and Trends by type of Application
11.8.4 Company Revenue and Product Analysis
11.8.5 APAC Segment - Product type and Application Market Size
11.8.5.1 China
11.8.5.2 Australia
11.8.5.3 Japan
11.8.5.4 South Korea
11.8.5.5 India
11.8.5.6 Taiwan
11.8.5.7 Malaysia
11.8.5.8 Hong kong
11.8.5.9 Rest of APAC
11.9 Sulfur Hexafluoride - Middle East Segment and Africa Segment Research
11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
11.10.1 Segment type Size and Market Size Analysis
11.10.2 Revenue and Trend Analysis
11.10.3 Application Revenue and Trends by type of Application
11.10.4 Company Revenue and Product Analysis
11.10.5 Middle East Segment Product type and Application Market Size
11.10.5.1 Israel
11.10.5.2 Saudi Arabia
11.10.5.3 UAE
11.10.6 Africa Segment Analysis
11.10.6.1 South Africa
11.10.6.2 Rest of Middle East & Africa
12. Sulfur Hexafluoride Market - Entropy
12.1 New product launches
12.2 M&A s, collaborations, JVs and partnerships
13. Sulfur Hexafluoride Market - Industry / Segment Competition landscape Premium
13.1 Market Share Analysis
13.1.1 Market Share by Country- Top companies
13.1.2 Market Share by Region- Top 10 companies
13.1.3 Market Share by type of Application - Top 10 companies
13.1.4 Market Share by type of Product / Product category- Top 10 companies
13.1.5 Market Share at global level - Top 10 companies
13.1.6 Best Practises for companies
14. Sulfur Hexafluoride Market - Key Company List by Country Premium
15. Sulfur Hexafluoride Market Company Analysis
15.1 Market Share, Company Revenue, Products, M&A, Developments
15.2 Advanced Specialty Gas
15.3 Air Liquide S A
15.4 Air Product And Chemicals, Inc
15.5 Chongqing Daan Yingde Speciality Gas Co , Ltd
15.6 Concorde Specialty Gases, Inc
15.7 Honeywell International
15.8 Kanto Denka Kogyo Co , Ltd
15.9 Matheson Tri-Gas, Inc
15.10 Praxair Technology, Inc
15.11 Showa Denko K K
15.12 Solvay S A
15.13 The Linde Group
15.14 Company 13
15.15 Company 14 & More
16.1 Abbreviations
16.2 Sources
17. Sulfur Hexafluoride Market - Methodology
17.1 Research Methodology
17.1.1 Company Expert Interviews
17.1.2 Industry Databases
17.1.3 Associations
17.1.4 Company News
17.1.5 Company Annual Reports
17.1.6 Application Trends
17.1.7 New Products and Product database
17.1.8 Company Transcripts
17.1.9 R&D Trends
17.1.10 Key Opinion Leaders Interviews
17.1.11 Supply and Demand Trends
LIST OF TABLES
1.Global Sulfur Hexafluoride Market:Product Estimate Trend Analysis Market 2019-2024 ($M)1.1 Electronic Grade Market 2019-2024 ($M) - Global Industry Research
1.2 Uhp Grade Market 2019-2024 ($M) - Global Industry Research
1.3 Standard Grade Market 2019-2024 ($M) - Global Industry Research
2.Global Sulfur Hexafluoride Market:Application Estimate Trend Analysis Market 2019-2024 ($M)
2.1 Power Energy Market 2019-2024 ($M) - Global Industry Research
2.2 Medical Market 2019-2024 ($M) - Global Industry Research
2.3 Metal Manufacturing Market 2019-2024 ($M) - Global Industry Research
2.4 Electronics Market 2019-2024 ($M) - Global Industry Research
3.Global Sulfur Hexafluoride Market:Product Estimate Trend Analysis Market 2019-2024 (Volume/Units)
3.1 Electronic Grade Market 2019-2024 (Volume/Units) - Global Industry Research
3.2 Uhp Grade Market 2019-2024 (Volume/Units) - Global Industry Research
3.3 Standard Grade Market 2019-2024 (Volume/Units) - Global Industry Research
4.Global Sulfur Hexafluoride Market:Application Estimate Trend Analysis Market 2019-2024 (Volume/Units)
4.1 Power Energy Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 Medical Market 2019-2024 (Volume/Units) - Global Industry Research
4.3 Metal Manufacturing Market 2019-2024 (Volume/Units) - Global Industry Research
4.4 Electronics Market 2019-2024 (Volume/Units) - Global Industry Research
5.North America Sulfur Hexafluoride Market:Product Estimate Trend Analysis Market 2019-2024 ($M)
5.1 Electronic Grade Market 2019-2024 ($M) - Regional Industry Research
5.2 Uhp Grade Market 2019-2024 ($M) - Regional Industry Research
5.3 Standard Grade Market 2019-2024 ($M) - Regional Industry Research
6.North America Sulfur Hexafluoride Market:Application Estimate Trend Analysis Market 2019-2024 ($M)
6.1 Power Energy Market 2019-2024 ($M) - Regional Industry Research
6.2 Medical Market 2019-2024 ($M) - Regional Industry Research
6.3 Metal Manufacturing Market 2019-2024 ($M) - Regional Industry Research
6.4 Electronics Market 2019-2024 ($M) - Regional Industry Research
7.South America Sulfur Hexafluoride Market:Product Estimate Trend Analysis Market 2019-2024 ($M)
7.1 Electronic Grade Market 2019-2024 ($M) - Regional Industry Research
7.2 Uhp Grade Market 2019-2024 ($M) - Regional Industry Research
7.3 Standard Grade Market 2019-2024 ($M) - Regional Industry Research
8.South America Sulfur Hexafluoride Market:Application Estimate Trend Analysis Market 2019-2024 ($M)
8.1 Power Energy Market 2019-2024 ($M) - Regional Industry Research
8.2 Medical Market 2019-2024 ($M) - Regional Industry Research
8.3 Metal Manufacturing Market 2019-2024 ($M) - Regional Industry Research
8.4 Electronics Market 2019-2024 ($M) - Regional Industry Research
9.Europe Sulfur Hexafluoride Market:Product Estimate Trend Analysis Market 2019-2024 ($M)
9.1 Electronic Grade Market 2019-2024 ($M) - Regional Industry Research
9.2 Uhp Grade Market 2019-2024 ($M) - Regional Industry Research
9.3 Standard Grade Market 2019-2024 ($M) - Regional Industry Research
10.Europe Sulfur Hexafluoride Market:Application Estimate Trend Analysis Market 2019-2024 ($M)
10.1 Power Energy Market 2019-2024 ($M) - Regional Industry Research
10.2 Medical Market 2019-2024 ($M) - Regional Industry Research
10.3 Metal Manufacturing Market 2019-2024 ($M) - Regional Industry Research
10.4 Electronics Market 2019-2024 ($M) - Regional Industry Research
11.APAC Sulfur Hexafluoride Market:Product Estimate Trend Analysis Market 2019-2024 ($M)
11.1 Electronic Grade Market 2019-2024 ($M) - Regional Industry Research
11.2 Uhp Grade Market 2019-2024 ($M) - Regional Industry Research
11.3 Standard Grade Market 2019-2024 ($M) - Regional Industry Research
12.APAC Sulfur Hexafluoride Market:Application Estimate Trend Analysis Market 2019-2024 ($M)
12.1 Power Energy Market 2019-2024 ($M) - Regional Industry Research
12.2 Medical Market 2019-2024 ($M) - Regional Industry Research
12.3 Metal Manufacturing Market 2019-2024 ($M) - Regional Industry Research
12.4 Electronics Market 2019-2024 ($M) - Regional Industry Research
13.MENA Sulfur Hexafluoride Market:Product Estimate Trend Analysis Market 2019-2024 ($M)
13.1 Electronic Grade Market 2019-2024 ($M) - Regional Industry Research
13.2 Uhp Grade Market 2019-2024 ($M) - Regional Industry Research
13.3 Standard Grade Market 2019-2024 ($M) - Regional Industry Research
14.MENA Sulfur Hexafluoride Market:Application Estimate Trend Analysis Market 2019-2024 ($M)
14.1 Power Energy Market 2019-2024 ($M) - Regional Industry Research
14.2 Medical Market 2019-2024 ($M) - Regional Industry Research
14.3 Metal Manufacturing Market 2019-2024 ($M) - Regional Industry Research
14.4 Electronics Market 2019-2024 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Sulfur Hexafluoride Market Revenue, 2019-2024 ($M)2.Canada Sulfur Hexafluoride Market Revenue, 2019-2024 ($M)
3.Mexico Sulfur Hexafluoride Market Revenue, 2019-2024 ($M)
4.Brazil Sulfur Hexafluoride Market Revenue, 2019-2024 ($M)
5.Argentina Sulfur Hexafluoride Market Revenue, 2019-2024 ($M)
6.Peru Sulfur Hexafluoride Market Revenue, 2019-2024 ($M)
7.Colombia Sulfur Hexafluoride Market Revenue, 2019-2024 ($M)
8.Chile Sulfur Hexafluoride Market Revenue, 2019-2024 ($M)
9.Rest of South America Sulfur Hexafluoride Market Revenue, 2019-2024 ($M)
10.UK Sulfur Hexafluoride Market Revenue, 2019-2024 ($M)
11.Germany Sulfur Hexafluoride Market Revenue, 2019-2024 ($M)
12.France Sulfur Hexafluoride Market Revenue, 2019-2024 ($M)
13.Italy Sulfur Hexafluoride Market Revenue, 2019-2024 ($M)
14.Spain Sulfur Hexafluoride Market Revenue, 2019-2024 ($M)
15.Rest of Europe Sulfur Hexafluoride Market Revenue, 2019-2024 ($M)
16.China Sulfur Hexafluoride Market Revenue, 2019-2024 ($M)
17.India Sulfur Hexafluoride Market Revenue, 2019-2024 ($M)
18.Japan Sulfur Hexafluoride Market Revenue, 2019-2024 ($M)
19.South Korea Sulfur Hexafluoride Market Revenue, 2019-2024 ($M)
20.South Africa Sulfur Hexafluoride Market Revenue, 2019-2024 ($M)
21.North America Sulfur Hexafluoride By Application
22.South America Sulfur Hexafluoride By Application
23.Europe Sulfur Hexafluoride By Application
24.APAC Sulfur Hexafluoride By Application
25.MENA Sulfur Hexafluoride By Application
26.Solvay S A, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Honeywell International, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Kanto Denka Kogyo Co , Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Showa Denko K K, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Praxair Technology, Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Concorde Specialty Gases, Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Air Liquide S A, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.The Linde Group, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Advanced Specialty Gas, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Chongqing Daan Yingde Speciality Gas Co , Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
36.Matheson Tri-Gas, Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
37.Air Product And Chemicals, Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)