Global Dielectric Gases Market Overview
The global dielectric gases market has been on a steady course at a CAGR of 6% over the past half-decade. However, a decline has been observed in the 1st and 2nd quarter of the fiscal year 2020 owing to the COVID-19 pandemic. In the aftermath, with a resurrection in global demand, the dielectric gases market is forecast to witness an upswing at a dexterous 7% during the forecast period (2020-2030).
Dielectric gases are insulating gases used to quench electric discharges, which tends to shorten equipment lifespan, negatively impacting profit margins in the long-run. Dielectric gases have also been mobilized in the oil & gas and power utilities industry, extensively used in extra and ultra-high voltage applications. Muted power utilization and demand shock amidst COVID-19 has contracted supply of dielectric gases in the global market.
Global Dielectric Gases Market Application Insights
High Voltage has emerged as a profitable application area for the dielectric gases market. This surging popularity has been observed owing to its wider scope in power utilities. Based on this trend, market players are leveraging their footprints by providing dielectric gases such as SF6 and dry air to be suitable for its utilization in switch gear, transformers and gas insulated lines applications.
Accentuated demand for dielectric gases has also been stimulated by high voltage, extra and ultra-high voltage applications, contributing to market expansion in the mid-term forecast period. However, an uptick in power utilities adoption coupled with recessionary trends amid the COVID-19 pandemic have set supply-demand askew.
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Global Dielectric Gases Market End-Use Industry Insights
Dielectric gases have been primarily consumed in power utilities (~50% of total market). Dielectric gases are witnessing high demand growth in these industries for its gradual quenching and insulation properties. This is followed by transportation, where dielectric gases are used in switch gears and transformers in train stations and other key locations that require high amounts of energy.
Based on the aforementioned factors, the dielectric gases market is set to witness an upward trend during the forecast period. Short-term demand aberrations observed in the dielectric gases market are expected to diminish once end-use industries recover from the scourge of the COVID-19 pandemic.
Global Dielectric Gases Market Regional Insights
East Asia accounted for the largest market share in 2019. This trend is anticipated to continue throughout the forecast period. Currently, East Asia accounts for more than one fourth of the dielectric gases demand. Consumption of dielectric gases in East Asia is mainly backed by accelerating demand from industries utilizing power utilities for energy generation applications.
The dielectric gases market was the fastest growing in East Asia during the historical period. This is attributed to the enhanced uptake of dielectric gases in high voltage applications. However, the COVID-19 pandemic has contracted demand, thus affecting the production of dielectric gases. Coupled with COVID-19, recent recession reported in Mid-May in Japan is set to further suppress market growth. It is estimated that many regions are set to undergo a prolonged recession, which is anticipated to generate a slump in this market.
These trends are projected to continue for more than 18 months. By the end of the 4th quarter of 2021, the market is set to rebound, gaining momentum once the manufacturing sites and transportation utilization ratio reaches its maximum capacity.
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Global Dielectric Gases Market Manufacturers: Key Strategies
The global dielectric gases market is fairly consolidated in nature. 3M Company, Solvay S.A., Showa Denko K.K, Linde AG are among the Tier 1 players. Together, they are anticipated to account for more than 80% of the global market share in 2020. Key manufacturers are involved in pioneering research and development and material optimization.
Inorganic strategies have been observed amongst prominent manufacturers. For instance, in 2017, Linde group & Praxair merged to become the world’s largest supplier of Industrial gases. This merger helped it capture more than 70% of the global dielectric gases market
“Prevailing headwinds in the market owing to the COVID-19 pandemic coupled with recessionary trends in the aftermath is set to contract the dielectric gases market until the 1st quarter of 2022” says a Fact.MR analyst.
COVID-19 Impact Insights
The coronavirus pandemic has brought the whole world to a standstill. Business activities have registered a downturn in the form of dwindling sales due to reduced production and demand. The same is true for the dielectric gases market. One of the prominent end uses of dielectric gases is in high voltage applications. The ongoing pandemic has led to a decline in all industrial activities, in the wake of disrupted supply chains.
Extended lockdowns in different countries have nullified the production of dielectric gases for the past month, as key manufacturing units and factories are shut. Even after the lockdown is lifted, it will take at least a couple of months to restore production to normal. Thus, contracting demand from allied industries in second quarter of 2020 will have prolonged effects on the global dielectric gases market.
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About the Report
Fact.MR published an exclusive forecast report for Dielectric gases market between 2020 and 2030. The foremost objective of this report on Dielectric gases market is to pitch spearhead insights on market scenario, demand generators and technological advancements in the dielectric gases market. Also, the study on dielectric gases market addresses key dynamics, which are expected to diversify the sales and future prominence of Dielectric gases market.
The report on dielectric gases market begins with an executive overview in which product definition has been provided. The report further proceeds with taxonomy of Dielectric gases market elaborating on the key segments. Also, the report outlines visionary insights on dynamics dielectric gases market including drivers, restraints, opportunities and trends and pricing analysis along with the key buying factors for Dielectric gases.
Supply chain analysis and pricing analysis of dielectric gases market along with the difference between dielectric gases used as per applications have also been included in the report to help the readers clearly understand the product framework map in dielectric gases market.
Dielectric gases Market Segmentation
Fact.MR has studied the dielectric gases market with detailed segmentation on the basis of gas type, application, end-use equipment, end-use industry, and key regions.
By Gas Type
- Dry Air
- Medium Voltage
- High Voltage
- Extra & Ultra High Voltage
- Switch Gears
- Gas Insulated Lines
- Heavy Metals
- Oil & gas
- Chemicals & Petrochemicals
- Power utilities
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than the addressee(s) is unauthorized and prohibited.”
Dielectric gases Market- Scope of the Report
The recent study by Fact.MR on dielectric gases market offers a 10-year forecast between 2020 and 2030. The study analyzes crucial trends that are currently determining the growth of dielectric gases market. This report explicates on vital dynamics such as the drivers, restraints and opportunities for key market players along with key stakeholders as well as emerging players associated with the manufacturing of dielectric gases. The study also provides dynamics that are responsible for influencing the future status of the dielectric gases market over the forecast period.
A detailed assessment of dielectric gases value chain analysis, business execution, and supply chain analysis across the regional markets has been covered in the report. A list of prominent companies operating in the dielectric gases market along with their product portfolio enhances the reliability of this comprehensive research study.
Dielectric gases Market: Report Summary
The study offers a comprehensive analysis on diverse features including production capacities, demand, product developments, revenue generation and sales in dielectric gases market across the globe.
A comprehensive estimate on dielectric gases market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of dielectric gases during the forecast period. Price point comparison by region with global average price is also considered in the study.
Dielectric gases Market: Analysis on Market Size Evaluation
Dielectric gases market has been analyzed for each market segment, in terms of volume (Kilo tons) and value (US$ Mn).
Market estimates at global and regional levels for Dielectric gases is available in terms of “US$ Mn” for value and in “Kilo tons” for volume. A Y-o-Y growth contrast on prominent dielectric gases market segments, along with market attractiveness evaluation has been incorporated in the report. Furthermore, the absolute dollar opportunity analysis of all the segments adds prominence to the report.
Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve along with identifying potential resources, considering sales and distribution perspective in the global dielectric gases market.
Dielectric Gases Market: Inspected Assessment on Regional Segments
Key sections have been elaborated in the dielectric gases report, which have helped to deliver projection on the regional markets. These chapters include the regional macros (political-economic, and business environment outlook), which are expected to have a momentous influence on the growth of dielectric gases market during the forecast period.
Country-specific valuation on demand for dielectric gases has been offered for each regional market, along with the market scope estimate and forecast, price index, and impact analysis of dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value & volume for emerging countries has also been included in the report.
Dielectric gases Market: In-Depth Analysis on Competitive Landscape
The report sheds light on the leading manufacturers of dielectric gases along with their detailed profiles. Essential and up-to-date data information related to the market performers, who are principally engaged in the production of the dielectric gases, has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permit the report readers to take preemptive steps in advancing their businesses.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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