SAN FRANCISCO, February 14, 2018 /PRNewswire/ —
The global sulfur hexafluoride market is expected to reach USD 309.9 million by 2025, according to a new report by Grand View Research, Inc. Rising demand for the product for use as an ideal quenching material in circuit breakers and switchgear manufacturing is expected to have a positive impact on the industry growth.
Key industry participants, have integrated their operations across the value chain by indulging in raw material manufacturing as well as distribution sectors in order to gain a competitive edge in the industry. Active investments in the R&D of the product to reduce the environmental impact and boost efficiency are projected to increase the competitive rivalry among the manufacturers.
In June 2014, ABB developed a patented technology to recycle contaminated SF6 gas based on the energy proficient cryogenic process. The use of recycled sulfur hexafluoride gas is expected to mitigate carbon emissions by about 30% and save costs. These factors are, therefore, expected to fuel the industry growth over the forecast period.
The stringent regulations imposed on the manufacturing and use of sulfur hexafluoride (SF6) are expected to be a key threat to the industry players. Moreover, the high initial investments and operational costs associated with the machinery are further expected to trigger the entry barrier, thereby lowering the threat of new entrants over the forecast period.
Browse full research report with TOC on “Sulfur Hexafluoride (SF6) Market Size Report By Product (Electronic, UHP, Standard), By Application (Power & Energy, Medical, Metal Manufacturing, Electronics), And Segment Forecasts, 2014 – 2025“ at: https://www.grandviewresearch.com/industry-analysis/sulfur-hexafluoride-sf6-market
Further Key Findings From the Report Suggest:
- Standard grade SF6 is expected to register a CAGR of 5.7% over the projected period, owing to its high demand for the manufacturing of circuit breakers and switchgear for power & energy generation plants
- Power & energy was the dominant application segment in 2016 with over 75% SF6 utilized in the manufacturing of high voltage equipment including coaxial cables, transformers, switches, and capacitors
- The product is expected to grow at a CAGR of 6.0% in metal manufacturing application, owing to its high demand for prevention of burning and rapid oxidation of molten metals in magnesium manufacturing industry
- Asia Pacific held the largest market share of over 34% in 2016 and is expected to dominate the market over the forecast period on account of high investments in energy & power sector in the region
- Solvay S.A., Air Liquide S.A., The Linde Group, Air Products and Chemicals, Inc., and Praxair Technology, Inc. have adopted production capacity expansion strategies to serve increasing consumer demand and gain larger market shares
Browse related reports by Grand View Research:
- Waterproofing Chemicals Market – Global waterproofing chemicals market is expected to witness growth on account of rising demand from various end-use industries including building & construction of residential and commercial buildings and landfills & tunnels.
- Colored Polyurethane (PU) Foams Market – Global colored polyurethane (PU) foams market size was estimated at 4,437.7 kilo tons in 2014. Automobile manufacturers are finding alternatives to metal in vehicles in order to reduce overall vehicle weight and therefore enhance fuel efficiency.
- Flexible Packaging Market – Global flexible packaging market size was estimated at 19,893.8 kilo tons in 2014. Growing food requirement on account of increasing population in Asia Pacific, particularly in India and China is expected to have a positive impact on the industry over the next seven years.
- Wetsuits Market – The global wetsuits market size was valued at over USD 800 million in 2014.wetsuit apparels, constituted of foamed neoprene, are frequently worn by deep-sea divers, surfers, canoeists, windsurfers, and others involved in water and wind related sports activities, as they offer abrasion resistance, thermal insulation and buoyancy.
Grand View Research has segmented the global sulfur hexafluoride market on the basis of application and region:
- Sulfur Hexafluoride Product Outlook (Revenue, USD Thousands; 2014 – 2025)
- Electronic Grade
- UHP Grade
- Standard Grade
- Sulfur Hexafluoride Application Outlook (Revenue, USD Thousands; 2014 – 2025)
- Power & Energy
- Metal Manufacturing
- Sulfur Hexafluoride Regional Outlook (Revenue, USD Thousands; 2014 – 2025)
- North America
- Asia Pacific
- Central & South America
- The Middle East & Africa
Read Our Blog By Grand View Research: https://www.grandviewresearch.com/blogs/specialty-and-fine-chemicals
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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Grand View Research, Inc
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SOURCE Grand View Research, Inc.
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