According to MRFR analysis, Sulfur Hexafluoride Market was valued at USD 251 million in 2018 and is projected to register a CAGR of 6.1% during the forecast period, 2019–2025.
SF6 offers dielectric strength (it rapidly quenches electrical discharges), chemical stability during electrical operations, excellent thermal conductivity, and easy synthesis.
Pricing and Regulatory Analysis
- In 2018, sulfur hexafluoride was priced between USD 5 and USD 10 per kg across the globe.
The United Nations Framework Convention on Climate Change (Kyoto Protocol, 1997) considers SF6 as a most potent greenhouse gas with high global warming potential.
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Standard Grade: The segment dominated the global sulfur hexafluoride market by value in 2018 owing to its vast usage in the power & energy sector for applications such as high-voltage circuit breakers, switchgear, gas-insulated switchgear (GIS), and others.
Electronics Grade: It is used in the manufacturing of particle accelerators, integrated circuits, and an etchant for chamber cleaning.
Ultra-high purity Grade: It is the purest form of sulfur hexafluoride with no contamination. It is majorly used in the manufacturing of semiconductors and in non-invasive medical surgeries that require zero contamination.
- Power & Energy: The segment accounted for the largest share of the global sulfur hexafluoride market in 2018. The dielectric property of SF6 allows its use in the manufacturing of high-voltage circuit breakers, switchgear, gas-insulated switchgear (GIS), high voltage transformers, gas-insulated power substations, gas-insulated transmission lines, particles accelerators, and distribution voltage, which are utilized in the power & energy sector. The growth of the power & energy sector in developing economies is expected to augment the demand for sulfur hexafluoride and thus boosting the segment’s growth.
- Electronics: SF6 is used in the manufacturing of electronic components such as semiconductors, integrated circuits, radar equipment, microwave antennas, and generators.
- Medical: SF6 is used in non-invasive medical surgeries. It acts as a plug during retinal detachment surgeries; contrasting agent in ultrasound imaging; helps to determine & examine the exact location & cause of the ailment during the echocardiogram, and increases the visibility of blood vessels during ultrasound imaging. It is also employed to examine various medical conditions, such as tumors, uterine fibroids, and adenomyosis, among others.
- Metal Manufacturing: SF6 is utilized in the foundry and metal casting of magnesium and aluminum. It prevents the formation of harmful byproducts in magnesium casting as well as used as a degassing agent in aluminum casting. The gas reduces molten metal waste by preventing rapid oxidation of metals when they come in contact with the air. This helps the manufacturers to minimize their production costs, which is projected to drive the product demand in metal casting.
- Window Glass: SF6 is utilized for insulating windows to reduce heat transfer and sound dampening.
- Others: The other segment includes leak detection, shock absorbers, and tracer in monitoring air pollution.
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- North America and Europe: Stringent regulatory framework is affecting the growth of the product market in these regions.
- Asia-Pacific: Most opportunistic market, owing to the flexible regulatory framework, large-scale SF6 production and thus availability at low cost, rapid industrialization, and low labor cost, among others.
- Latin America and the Middle East & Africa: These regions held the least market shares of the total market. Moreover, it is expected to register positive growth in the coming years.