Copper Grade Segment to Dominate Europe Sulfur Hexafluoride Market during 2019–2027

According to a new market research study on “Europe Sulfur Hexafluoride Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Grade Type, and End User,” is expected to reach US$ 57.35 million by 2027 from US$ 39.12 million in 2019. The market is estimated to grow at a CAGR of 4.9% from 2020 to 2027. The report provides trends prevailing in the Europe Sulfur Hexafluoride market along with the drivers and restraints pertaining to the market growth. Different implementation of sulfur hexafluoride in medical industry are the major factor driving the growth of the Europe Sulfur Hexafluoride market. However, issues associated with the dangerous effect on environment and humans hinder the growth of Europe Sulfur Hexafluoride market.

The Europe Sulfur Hexafluoride market is segmented into grade, end user, and country. Based on grade, the market is segmented into electronic grade, UHP Grade and standard grade. In 2019, the electronic grade segment held the largest share Europe Sulfur Hexafluoride market.  Similarly, based on end user, the market is bifurcated into power and energy, electronics, metal manufacturing, medical, and others. The Power and Energy segment contributed a substantial share in 2019.

Europe is characterized by numerous developing economics backed by high industrial presence, large population, and increasing disposable income, which majorly drive the growth of the sulfur hexafluoride market. However, the outbreak of COVID-19 and lockdown imposed by the governments across Europe is anticipated to have a huge disruption in the growth of various industries across Europe. The chemicals industry is likely to feel the effect of the coronavirus COVID-19 widespread from each course. Just as supply chains are being disturbed by outbreaks in key districts, demand may fall due to instability in the worldwide economy and capital markets. Workforces are facing the risk of disease, and governments are beginning to enact limitations on development and both include an unpredictable dimension to the crisis. The governments across Europe are taking measure like travel bans, business shutdowns, and lockdown, which is expected to hamper the anticipated revenue generation and growth opportunities for coming months.

Air Liquide, Iwatani Corporation, Linde plc, Matheson Tri-Gas, Inc, SHOWA DENKO K.K., Solvay S.A., and Fujian Shaowu Yongfei Chemical Co., Ltd. are among the leading companies in the Europe Sulfur Hexafluoride market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2018, Air Liquide announced its climate objectives and aims to reduce its carbon emissions by 30% by 2025. Among the measures stated: increase renewable electricity purchases by nearly 70%, improve the energy efficiency of production units and reduce the carbon footprint of products by 10%, by influencing both production and transport.

Europe Sulfur Hexafluoride Market, By Country, 2019 and 2027 (%)

The Report Segments the Europe Sulfur Hexafluoride market as Follows:

Europe Sulfur Hexafluoride Grade Market – By Grade

• Electronic Grade
• UHP Grade
• Standard Grade

Europe Sulfur Hexafluoride Grade Market – By End User

• Power and Energy
• Electronics
• Metal Manufacturing
• Medical
• Others

Europe Sulfur Hexafluoride Grade Market – By Country

• Germany
• France
• Italy
• UK
• Russia
• Rest of Europe