Global High-purity Sulfur Hexafluoride Market Size By Grade, By End-use Industry, By Distribution Channel, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Global High-purity Sulfur Hexafluoride Market Size By Grade, By End-use Industry, By Distribution Channel, By Geographic Scope And Forecast
High-purity Sulfur Hexafluoride Market Size And Forecast
High-purity Sulfur Hexafluoride Market size was valued at USD 168.50 Million in 2023 and is projected to reach USD 179.98 Million by 2030, growing at a CAGR of 4.4% during the forecast period 2024-2030.
Global High-purity Sulfur Hexafluoride Market Drivers
The market drivers for the High-purity Sulfur Hexafluoride Market can be influenced by various factors. These may include
Increasing Demand from the Electronics Sector The electronics sector is a major user of high-purity sulphur hexafluoride for plasma etching operations in semiconductor fabrication, which is propelling market expansion.
Growing Use in Medical Imaging One factor driving market expansion is the growing usage of high-purity sulphur hexafluoride in medical imaging applications, such as contrast agents in ultrasound imaging.
Growing Need for Magnesiumion The magnesium business uses high-purity sulphur hexafluoride in the Kroll process to produce magnesium, which increases market demand.
Growing Use in Power Generation The power generation industry’s market growth is driven by the use of high-purity sulphur hexafluoride as an insulating gas in high-voltage power equipment, such as circuit breakers and switchgear.
Growing Aerospace Industry The aerospace industry’s increasing need for high-purity sulphur hexafluoride due to its use in satellite propulsion systems and aircraft manufacture propels the market’s expansion.
Research and Development Advancements Continual research and development initiatives to investigate novel uses for high-purity sulphur hexafluoride, such as cryogenics and superconductivity, encourage market growth.
Tight Environmental Regulations The need for high-purity sulphur hexafluoride as a transitional solution is driven by regulatory regulations encouraging the adoption of alternatives to sulphur hexafluoride owing to environmental concerns.
Growing Need for High-Performance Insulating Materials High-purity sulphur hexafluoride is in greater demand due to the growing need for high-performance insulating materials in a variety of industries, including electrical, automotive, and construction.
Growth of the Chemical Industry The need for high-purity sulphur hexafluoride as a feedstock for chemical synthesis processes is driven by the growth of the chemical industry, especially in emerging economies.
Growing Infrastructure Development Investments The need for high-purity sulphur hexafluoride in construction applications is driven by growing infrastructure development projects, such as urbanisation programmes and smart city initiatives.
Global High-purity Sulfur Hexafluoride Market Restraints
Several factors can act as restraints or challenges for the High-purity Sulfur Hexafluoride Market. These may include
High manufacturing Cost The use of high-purity sulphur hexafluoride is restricted, especially in cost-sensitive applications, by the high manufacturing and purifying costs, which also impede market expansion.
Availability of Alternatives One obstacle to the market expansion of high-purity sulphur hexafluoride is the availability of substitute gases and materials with similar qualities, such as perfluorocarbons and nitrogen trifluoride.
Environmental Impact Concerns Growing worries about sulphur hexafluoride’s effects on the environment, particularly its high global warming potential (GWP), have resulted in regulations being placed in place that impede market expansion.
Health and Safety Risks High-purity sulphur hexafluoride handling and use may pose health and safety risks, including toxicity and asphyxiation dangers. These concerns have the potential to impede market acceptance, especially in sensitive applications.
Volatility in Raw Material Prices Price fluctuations for sulphur and fluorine, two raw materials used to produce high-purity sulphur hexafluoride, have an effect on manufacturing costs and threaten the stability of the market.
COVID-19 Pandemic Effects The pandemic has caused supply chain disruptions, decreased industrial activity, and slower economic growth. These factors have had a detrimental effect on the demand for high-purity sulphur hexafluoride in a variety of end-use sectors.
Complicated Regulatory Environment Market participants face difficulties adhering to the complex regulatory frameworks that control the manufacture, transportation, and use of sulphur hexafluoride. These frameworks include safety requirements and emissions laws.
Limited Education and Awareness Market expansion and uptake are hampered by end users’ lack of knowledge about the advantages and uses of high-purity sulphur hexafluoride, particularly in developing nations.
Technological Developments in Alternative Technologies The market for high-purity sulphur hexafluoride is threatened by technological developments in alternative technologies like solid-state electronics and renewable energy sources.
Prolonged Lead Times for Regulatory Approvals Prolonged lead times hinder market expansion by delaying market entry and commercialization efforts for high-purity sulphur hexafluorides. These requirements also require certifications.
Global High-purity Sulfur Hexafluoride Market Segmentation Analysis
The Global High-purity Sulfur Hexafluoride Market is Segmented on the basis of Grade, End-use Industry, Distribution Channel, and Geography.
By Grade
Electronic Grade Used in the electronics industry for plasma etching processes in semiconductor manufacturing.
UHP (Ultra High Purity) Grade Employed in critical applications, including medical imaging and aerospace industries.
By End-use Industry
Electronics Semiconductor manufacturing, plasma etching, and cleaning processes.
Medical Contrast agents in medical imaging, particularly ultrasound.
Aerospace Satellite propulsion systems, aircraft manufacturing, and testing.
Power Generation Insulating gas in high-voltage power equipment, such as switchgear and circuit breakers.
Chemical Feedstock for chemical synthesis processes.
Others Magnesiumion, superconductivity, and cryogenics.
By Distribution Channel
Direct Sales Sales directly from manufacturers to end-users or industrial consumers.
Distributors Sales through intermediary distributors or suppliers.
Global High-purity Sulfur Hexafluoride Market Keyplayers
The major players in the High-purity Sulfur Hexafluoride Market are
Air Liquide
Linde plc
Matheson Tri-Gas, Inc.
Praxair, Inc. (Subsidiary of Linde plc)
Showa Denko K.K.
Honeywell International Inc.
Kanto Denka Kogyo Co., Ltd.
Airs and Chemicals, Inc.
Fujian Shaowu Yongfei Chemical Co., Ltd.
Concorde Specialty Gases, Inc
Report Scope
REPORT ATTRIBUTES
DETAILS
Study Period
2020-2030
Base Year
2023
Forecast Period
2024-2030
Historical Period
2020-2022
Unit
Value (USD Million)
Key Companies Profiled
Air Liquide, Linde plc, Matheson Tri-Gas, Inc., Praxair, Inc. (Subsidiary of Linde plc), Showa Denko K.K., Honeywell International Inc., Kanto Denka Kogyo Co., Ltd., Airs and Chemicals, Inc., Fujian Shaowu Yongfei Chemical Co., Ltd., Concorde Specialty Gases, Inc
Segments Covered
By Grade, End-use Industry, By Distribution Channel, and By Geography.
Customization Scope
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