The market for sulphur hexafluoride is valued at US$ 288.37 million in 2023 and is expected to climb to US$ 487.93 million by 2033. During the projection period, the market will rise at a substantial CAGR of 5.4%. Favorable chemical properties and variegated end-use applications particularly electronic devices continue to supplement the growth of sulphur hexafluoride market.
Key Takeaways of Sulphur Hexafluoride Market Study
- Role of sulphur hexafluoride in developing electronic circuits is the growth engine of the market.
- Chemical inertness, non-toxicity, high density, and high dielectric strength are highly sought-after attributes of sulphur hexafluoride.
- Electronic grade sulphur hexafluoride contributes substantially to the overall demand.
- Asia Pacific carves out approximately 45.8% revenue share in the global sulphur hexafluoride market.
- Europe will exhibit relatively sluggish market growth owing to stringent government regulations.
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Key players must adopt multipronged strategies such as joint ventures and product development for competitive leadership. These strategies are fundamental to fortifying their foothold in the global sulphur hexafluoride market.
Asia Pacific Accounts for 45.8% Share in Sulphur Hexafluoride Market
On account of enormous regional population, power and energy demand is soaring in Asia Pacific. Being a leading end-use application of sulphur hexafluoride, power & energy generation industry is supporting the growth of regional market. Hence, Asia Pacific sulphur hexafluoride market garnered approximately 45.8% market share in 2018.
The sulphur hexafluoride market is Europe will relatively be slow during the forecast period owing to environmental implications associated with the product. Moreover, stricter norms set down by governing bodies are limiting the sulphur hexafluoride market growth in the region. However, improved sustainable practices in certain domestic markets such as the United States will contribute to steady market growth in the country.
Sustainable Practices Remain Key Agenda of Industry Leaders
Some of the key players featured in this FMI study include, but are not limited to, Advanced Specialty Gases, Air Liquide, Electronic Fluorocarbons, LLC, Axcel Gases, American Gas Products, Solvay S.A., Praxair Technology, Inc., Honeywell International, Fujian Shaowu Yongfei Chemical Co. Ltd., Air Products and Chemicals, Inc., Chengdu Kemeite, Concorde Specialty Gases Inc., and Liming Research Institute.
The global sulphur hexafluoride market is fragmented in nature. Reusing sulphur hexafluoride and incorporating latest technology is the key forte of market leaders. For instance, Solvay reclaims and reuses sulphur hexafluoride gas worldwide to comply with stringent environmental norms. Other players opt for collaborations to strengthen their market presence.
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Sulphur Hexafluoride Market: Segmentation
The global sulphur hexafluoride market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to readers.
By Grade
- Technical
- Electronic
By Application
- Electrical Transmission and Distribution
- Semiconductor Manufacturing
More about the Report
FMI’s study offers an in-depth market forecast and analysis on the global sulphur hexafluoride market. The major categories encompassed by the report include grade (technical, electronic), application (electrical transmission and distribution, semiconductor manufacturing) across five regions (North America, Latin America, Europe, Middle East & Africa, Asia Pacific).
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Frequently Asked Questions
- What is the Growth Outlook for Sulphur Hexafluoride Market?
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About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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