The sulfur hexafluoride market in APAC is expected to grow from US$ 95. 62 million in 2019 to US$ 147. 28 million by 2027; it is estimated to grow at a CAGR of 5. 5% from 2020 to 2027. Rising demand for sulfur hexafluoride (SF6) in the electronics industry is bolstering the growth of the market.
New York, Oct. 29, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Asia Pacific Sulfur Hexafluoride Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Grade, End-user" - https://www.reportlinker.com/p05978835/?utm_source=GNW
Sulfur hexafluoride possesses excellent properties that make it compatible with electrical appliances.
The thermal stability and high dielectric strength of sulfur hexafluoride offer outstanding cooling and insulating properties.The application of sulfur hexafluoride in the form of a dielectric medium in capacitors, switchgear, circuit breakers, and other electric appliances is a factor driving the growth of the sulfur hexafluoride market.
Sulfur hexafluoride is chemically inert, nonflammable, nontoxic, and noncorrosive and it remains gaseous even at low temperature.This, in turn, rises the demand for sulfur hexafluoride in the electrical segment.
Sulfur hexafluoride allows simplified designs of medium and high voltage switchgear owing to its size & weight reduction, reliable handling, and maintenance. Sulfur hexafluoride can also be used in place of other conventional dielectric providers enables space savings, low weight, and operational safety of the equipment, which is further driving the demand for sulfur hexafluoride. Several applications of sulfur hexafluoride in medical equipment is among the other factors expected to positively influence the demand for sulfur hexafluoride.
Based on grade, the standard grade segment led the sulfur hexafluoride market in 2019.Sulfur hexafluoride is perceived to be a nontoxic, inert, insulating, and cooling gas, which exhibits high dielectric strength and thermal stability.
The production of better equipment with higher capacity and superior performance is possible by deploying the standard grade SF6, which is known to possess excellent electrical, thermal, and chemical properties.It is, therefore, considered ideal to be used in both high-voltage and medium-high voltage power circuit breakers as well as in transformers, transducers, high-voltage cables, particle and electron accelerators, x-ray equipment, and UHF transmission systems.
The standard grade SF6 is the most preferred form of sulfur hexafluoride in the power generation sector as it acts as an electrical insulator and is widely used in the production of high-voltage circuit breakers, switchgears and other power & energy generation purposes.Other than power and energy sector, SF6 finds application in medical technology as a contrast agent in ultrasonic examinations.
They are also used in treatment of ophthalmology, pneumonectomy, and diseases of the middle ears. Rising incidence of such diseases have propelled the utilization of standard grade sulfur hexafluoride. With the surging demand for energy strongly driven by rapid population growth and industrialization, the focus has been shifted toward the use of renewable energy sources and specialty gases in the energy sector. This has bolstered the demand for standard grade sulfur hexafluoride across the APAC region.
Various emerging economies backed by massive industrial presence, huge population, and increase in disposable income are the major factors driving the growth of the sulfur hexafluoride market in APAC.With the outbreak of COVID-19, the APAC region is likely to get affected with respect to the economic growth.
Although, China is the global manufacturing hub and leading raw material supplier for various industries, it is one the worst affected countries due to the COVID-19 outbreak, followed by India, where all business operations are halted due to 10-week nationwide lockdown.Other leading manufacturing hubs, such as South Korea and Japan, are also facing significant impact of COVID-19 outbreak.
Various initiatives, such as travel bans, business shutdowns, and lockdowns, were imposed by the governments across APAC, which is anticipated to affect the expected revenue generation and overall growth opportunities in APAC.
The overall APAC sulfur hexafluoride market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining overview and forecast for the APAC sulfur hexafluoride market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the APAC sulfur hexafluoride market. Key players operating in the market include Air Liquide, Linde plc, Matheson Tri-Gas, Inc., Solvay S.A., Kanto Denka Kogyo Co. Ltd, Fujian Shaowu Yongfei Chemical Co. Ltd., SHOWA DENKO K.K., Chemix Gases, and Itwani Corporation.
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