North America Sulfur Hexafluoride Market
Sulfur hexafluoride is defined as a colorless and odorless gas which has a chemical formula of SF6. The gas is composed of one sulfur atom is surrounded by six fluorine atoms and possesses excellent characteristic features which is quite compatible for diversified application bases. The gas is known for its chemical inertness, non-toxicity, non-combustibility and non-corrosiveness largely used as an insulating and arc interrupting agent in the power transmission & distribution sector and as an etching agent in the electronics & semiconductor sector. North America is the fastest growing market for the sulfur hexafluoride on account of rising applications of sulfur hexafluoride across several end use application bases backed by positive government measures to support the growth of the industry. Further, increase in the disposable income coupled with increased investment in advancement of technology is also likely to drive the demand for sulfur hexafluoride in North America market. Thus, the mitigating options pertaining to sulfur hexafluoride emissions in electric power sector is expected to create a significant demand for electronic grades in the coming years, which is further anticipated to drive the North America Sulfur Hexafluoride market.
Strategic insights for the North America Sulfur Hexafluoride provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 49.56 Million |
| Market Size by 2027 | US$ 80.37 Million |
| Global CAGR (2020 - 2027) | 6.2% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Grade
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Sulfur Hexafluoride refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The Sulfur Hexafluoride market in North America is expected to grow from US$ 49.56 million in 2019 to US$ 80.37 million by 2027; it is estimated to grow at a CAGR of 6.2% from 2020 to 2027. Developing nations are adopting HDVC transmission. In HDVC transmission the systems are connected with the help of power grids in a particular area, which eliminates the issues related to the loss of electricity in that area. HDVC systems can also control the magnitude and direction of power flow with the help of switchgear and other switching elements of the converter. The physicochemical properties, discharge characteristics of Sulfur hexafluoride, and its gap breakdown characteristics under non-uniform electric fields make it suitable for use in HDVC transmission systems. HDVC transmission is gaining importance in North America due to an upsurge in demand for power consumption. Thus, the HDVC transmission offer future growth opportunities for market players operating in the North American market as the need for higher electric power over long distances are increasing in several industries. 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 North America 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 North America region. Although, US is the leading manufacturing hub and raw material supplier of various industries, it is one the worst hit countries in North America. Other leading manufacturing economies like Canada and Mexico were also hit severely. Various measure such as travel bans, business shutdowns, and lockdown are taken by the governments across North America to control the COVID-19 outbreak.
In terms of grade type, the electronic grade segment accounted for the largest share of the North America Sulfur Hexafluoride market in 2019. Further, the Power and Energy segment held a larger share of the market based on end user in 2019.
A few major primary and secondary sources referred to for preparing this report on the Sulfur Hexafluoride market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Air Liquide, Linde plc, Matheson Tri- Gas, Inc, Solvay S.A., Concorde Speciality Gases Inc., and Fujian Shaowu Yongfei Chemical Co. Ltd. among others.
The List of Companies - North AmericaSulfur Hexafluoride Market
The North America Sulfur Hexafluoride Market is valued at US$ 49.56 Million in 2019, it is projected to reach US$ 80.37 Million by 2027.
As per our report North America Sulfur Hexafluoride Market, the market size is valued at US$ 49.56 Million in 2019, projecting it to reach US$ 80.37 Million by 2027. This translates to a CAGR of approximately 6.2% during the forecast period.
The North America 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 North America Sulfur Hexafluoride Market report:
The North America Sulfur Hexafluoride Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Sulfur Hexafluoride Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Sulfur Hexafluoride Market value chain can benefit from the information contained in a comprehensive market report.
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