Surge in demand for SF6 gases from the power industry is expected to remarkably contribute towards the expansion of the di-electric gases market, finds Future Market Insights (FMI) in a study. According to the report, the market is forecast to exhibit 7.6% CAGR by 2031. Growth will continue especially as the demand from power utilities continues rising. As per FMI, SF6 gases will account for over 85% of sales in 2021. Bullish growth is on cards despite a period of temporary lull following curbs imposed amid COVID-19.
Globally, the di-electric gases market is driven by the increasing demand for SF6 gas in power utilities, transportation, and chemicals & petrochemicals industries. The power utilities and transportation industries among them have emerged as key end users, with power utilities accounting for over 50% of di-electric gases sold. Promising growth is on cards as there is unavailability of any substitute products for SF6. The application of SF6 as an insulating medium in gas insulated products, such as switchgears, transformers, and gas insulated lines will therefore gain momentum in the coming years.
Dielectric gases are dielectric materials that exist in the gaseous state. These gases are generally used as insulating medium in high voltage transmission units, such as transformers, switchgears and gas insulated lines. The gas used as an insulating media must have chemical inertness, good dielectric strength, high thermal stability, non-flammability, and low boiling point. The most common gases used across the globe for insulation purpose in dielectric gases are dry air, Nitrogen, SF6, fluoroketones (FK), fluoronitrile (FN) and others. In the others segment perfluorcarbon (PFC), fluoroxirane (FO), and all the remaining combinations used as dielectric medium in gas insulated transmission units.
These factors will prove crucial for continued growth of the global di-electric gases market.
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Key Takeaways from Di-electric Gases Market Study
- Driven by the rising demand from power utilities, the di-electric gases market will continue expanding, reaching a valuation of US$ 241.4 Mn by 2031
- Expansion of power utilities and the oil and gas sectors is giving tailwinds to growth in the U.S., which will continue account for over 75% of sales by 2031
- Increasing investment is identified as a chief driver of the U.K. market, enabling y-o-y growth at 7% in 2021
- Germany and France too will report impressive recovery following a period COVID-19 induced slowdown in the di-electric gases market
- China’s contribution towards East Asia market will continue rising, trailed by South Korea
“Dielectric gases market has a consolidated vendor landscape, primarily dominated by the manufacturers of SF6 gases. Competition however is likely to increase and to gain edge market players are expected to focus on expanding their production capacity. Besides this, some are even undertaking strategic collaborations to expand their footprint globally,” said a lead analyst at FMI.
Di-electric Gases Market: Participant Insights
Key manufacturers in the Di-electric Gases market, like The 3M Company ,Solvay S.A. ,General Electric, The Linde Group, KPL International Limited, Matheson Tri-Gas, Inc., Kanto Denka Kogyo Co., Ltd., Showa Denko K.K., ABB Inc., Messer Group GmbH and others. are focused on strengthening their product portfolio and expanding their market footprint through acquisition of smaller companies in the market.
Want to Know More?
Future Market Insights has published a market research report on the Di-electric Gases market that contains global analysis for 2016–2020 and opportunity assessment for 2021–2031. The report provides insightful analysis of the Di-electric Gases market through five different segments- Gas type, by End Use Equipment, by application, By End Use and region.
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Key Questions Answered in the Report
- Which is the Most Lucrative Market for Di-electric Gases?
China is estimated to remain one of the leading markets for Di-electric Gases owing to strong presence of various end-use industries.
- Which Are The Top-Selling Di-electric Gases?
SF6 di-electric gases along with Fluoronitrile (FN) di-electric gases are top-selling products in the market. The demand for SF6 is expected to remain high in the assessment period, from 2021 to 2031, especially due to its properties such as chemically stability, non-flammability, high electronegativity, and excellent dielectric property of approximately 2.5 times more than air.
- Who is the Leading End User of Di-electric Gases?
High voltage di-electric gases are widely used in the power utility industry. Their usage in chemicals and petrochemicals, and transportation sectors is rising day-by-day.
- Which are some of the Leading Companies Providing Di-electric Gases?
Some of the leading companies manufacturing Di-electric Gases are the 3M Company, Solvay S.A., General Electric, The Linde Group, KPL International Limited, Matheson Tri-Gas, Inc., Kanto Denka Kogyo Co., Ltd., Showa Denko K.K., ABB Inc., Messer Group GmbH and others.
- Which is Preferred End-use Equipment for Di-electric Gases?
The switchgear segment is driving sales of di-electric gases.