DUBLIN--(BUSINESS WIRE)--The "Sulfur Hexafluoride Market Size, Share & Trends Analysis Report By Product (Electronic, UHP, Standard), By Application (Power & Energy, Medical, Manufacturing), And Segment Forecasts, 2019 - 2025" report has been added to ResearchAndMarkets.com's offering.
The global sulfur hexafluoride market size is anticipated to reach USD 309.9 million by 2025, registering a CAGR of 6.0%.
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.
The market is primarily driven by the growing use of sulfur hexafluoride in Gas Insulated Substation (GlS) equipment designed to contain the gas in sealed pressure systems. Strong tendency to absorb free electrons and highly electronegative nature renders SF6 suitable for switchgears used in high or ultra-high voltage transmission lines.
OSHA and National Institute for Occupational Safety and Health (NIOSH) have categorized sulfur hexafluoride as a harmful element on account of its negative impact on the environment and the human body. The hazardous nature of the product along with high maintenance and handling costs is expected to hamper the product demand.
Companies are actively investing in R&D to develop innovative cost saving manufacturing processes. Companies such as Kanto Denka Kogyo Co., Ltd., Air Products & Chemicals, Inc., and Showa Denko K.K., are investing in the R&D activities in order to come up with environment-friendly manufacturing processes and gain competitive edge in the market.
Further key findings from the report suggest:
- Standard grade SF6 was the dominant product segment in 2018 with a percentage share of 85.8% as it is used in the manufacturing of switchgear and circuit breakers for power & energy generation plants
- UHP grade SF6 was the fastest growing segment with a CAGR of 7.4% from 2019 to 2025 owing to its extensive use in medical surgeries and manufacturing of electrical appliances
- Power & energy application segment accounted for the largest revenue share and is expected to register a CAGR of 5.9% over the forecast period owing to the increasing use of SF6 in high voltage equipment including transformers, switches, and capacitors
- Asia Pacific dominated the industry demand in 2018 accounting for 34.3% of the revenue share and is projected to continue its dominance owing to the high demand of the product in electronics manufacturing
- Solvay S.A.
- Honeywell International
- Kanto Denka Kogyo Co., Ltd.
- Showa Denko K.K.
- Praxair Technology
- Concorde Specialty Gases
- Air Liquide S.A.
- The Linde Group
- Advanced Specialty Gases
- Chongqing Daan Yingde Speciality Gas Co., Ltd.
- Matheson Tri-Gas, Inc.
- Air Products and Chemicals, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/date9z