Europe Sulfur Hexafluoride Market Forecast to 2027 –COVID-19 Impact and Europe Analysis by Grade (Electronic Grade, UHP Grade, and Standard Grade), End-user (Power and Energy, Electronics, Metal Manufacturing, Medical and Others)
Number of Pages: 82
Market Introduction
Sulfur hexafluoride (SF6) is defined as a non-toxic, inert, potent greenhouse gas which possesses superior electrical insulation characteristics. The chemical formula of sulfur hexafluoride is SF6 and constitutes of one sulphur atom surrounded by six fluorine atoms. On the basis of grade, the standard grade is expected to dominate the market due to growing demand for standard grade of the SF6 gas in the production of circuit breakers utilized in power & energy generation industry is likely to complement market growth. Further, rising application of the gas in the manufacturing of high voltage equipment such as transformers, switches, and capacitors is further expected to propel the demand for standard grade sulfur hexafluoride gas. SF6 is extensively being demanded in power energy, electronic, medical, aerospace, meteorology and other industrial bases as it.Thus, the growth in electronics sector is expected to create a significant demand for sulfur hexafluoride in the coming years, which is further anticipated to drive the sulfur hexafluoride market.
Market Overview and Dynamics
The sulfur hexafluoride market in Europe is expected to grow from US$ 39.12 million in 2019 to US$ 57.35 million by 2027; it is estimated to grow at a CAGR of 4.9% from 2020 to 2027. Mitigating options pertaining to Sulfur hexafluoride emissions. The electric power industry utilizes about 80% of Sulfur hexafluoride produced worldwide. There are several factors affecting the Sulfur hexafluoride emissions, such as the type and age of equipment containing Sulfur hexafluoride, handling and maintenance methods, or procedures practiced by electric utilities. As Sulfur hexafluoride is characterized by a long life span and high global warming potential, it can pose serious harm to the environment. Even a significant leak from the aging equipment or gas losses during the servicing or maintenance of equipment can cause great damage. The electric power industry has decided to reduce the nationwide emission of Sulfur hexafluoride by upgrading equipment and adoption of cost-effective operational improvements. The emissions can be mitigated by improving the leak rate of new equipment, refurbishing older equipment and using more efficient maintenance and operation techniques. Under the Carbon Mitigation Scenario (CMS) and Deep Mitigation Scenario (DMS), the absolute scale of peak emissions of Sulfur hexafluoride could be reduced by more than 60% and by the year 2050, the total emission will get reduced by more than 80%. The reduction in emission is expected to fuel the demand for Sulfur hexafluoride across APAC region in the near future. This is bolstering the growth of the sulfur hexafluoride market.
The presence of emerging economies backed by industrialization, large population, and increasing disposal income in Europe are the major factors propelling the growth of the sulfur hexafluoride market. However, the outbreak of COVID-19 is expected to affect the economic growth of the Europe region. Although, Germany is the leading manufacturing hub and raw material supplier of various industries, it is one the worst hit countries in Europe followed by Italy, where business activities were ceased due to nationwide lockdown. Other leading manufacturing economies like UK and France were also hit severely. Various measure such as travel bans, business shutdowns, and lockdown are taken by the governments across Europe to control the COVID-19 outbreak.
Key Market Segments
In terms of grade type, the electronic grade segment accounted for the largest share of the Europe sulfur hexafluoride market in 2019. Further, the power and energy segment held a larger share of the market based on end user in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the sulfur hexafluoride market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Air Liquide, Iwatani Corporation, Linde plc, Matheson Tri-Gas, Inc, SHOWA DENKO K.K., Solvay S.A., and Fujian Shaowu Yongfei Chemical Co., Ltd. among others.
Reasons to buy report
Europe Sulfur Hexafluoride Market Segmentation
Europe Sulfur Hexafluoride Market - by Grade
Europe Sulfur Hexafluoride Market- by End User
Europe Sulfur Hexafluoride Market - by Country
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 39.12 Million |
| Market Size by 2027 | US$ 57.35 Million |
| CAGR (2020 - 2027) | 4.9% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Grade
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Sulfur Hexafluoride Market is valued at US$ 39.12 Million in 2019, it is projected to reach US$ 57.35 Million by 2027.
As per our report Europe Sulfur Hexafluoride Market, the market size is valued at US$ 39.12 Million in 2019, projecting it to reach US$ 57.35 Million by 2027. This translates to a CAGR of approximately 4.9% during the forecast period.
The Europe Sulfur Hexafluoride Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Sulfur Hexafluoride Market report:
The Europe Sulfur Hexafluoride Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
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