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.
Rising demand for sulfur hexafluoride (SF6) in the electronics industry is bolstering the growth of the market. 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. Several appliances having an operating range of 33 KV to 800 KV can be made with the help of sulfur hexafluoride. These appliances are utilized in the power and energy generation plants, which further propels the demand for sulfur hexafluoride in the energy and power industries. Various uses of sulfur hexafluoride in medical equipment is among the other factors expected to positively influence the demand for sulfur hexafluoride.
Based on end user, the power and energy segment led the sulfur hexafluoride market in 2019. The power & energy sector is considered to be one of the largest consumers of sulfur hexafluoride in several application bases. SF6 is mainly used as an insulating medium for a diversified range of high voltage electrical and electronic equipment, including circuit breakers, switch gears, and particles accelerators. This attracts a significant number of consumers across the world. Increasing adoption of SF6 in the power and energy industry ensures the growth of sulfur hexafluoride market. In the current era, focus has been shifted over use of gas insulated high-voltage cables as well as tubular transmission lines for distribution of high-power in heavily concentrated industrial areas. Owing to this, the demand for power and energy is high, thereby catalyzing the growth of the sulfur hexafluoride market. Sulfur hexafluoride is regarded as the most powerful greenhouse gas. Applications of this gas have been rising rapidly in recent years, with the boom in the green energy, which ultimately drives the growth of the sulfur hexafluoride market.
The COVID-19 pandemic has been hampering the businesses related to the chemical industry; it has also affected the sulfur hexafluoride market in Europe. The major countries in the European region are under lockdown. The governments of countries that have experienced high infection spread have imposed isolation and social distancing measures to contain disease transmission. The lesser production of goods and commodities is hampering the growth of the Europe sulfur hexafluoride market. Germany has the largest number of COVID-19 cases in Europe, followed by Italy and France. Italy was the first country in this region to report a confirmed case of COVID-19 infection.
The overall Europe 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 Europe 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 Europe sulfur hexafluoride market. Major players operating in the market include Air Liquide; Iwatani Corporation; Linde plc; Matheson Tri-Gas, Inc.; SHOWA DENKO K.K.; Solvay S.A.; and Fujian Shaowu Yongfei Chemical Co., Ltd.