Is String.Format more efficient than StringBuilder?

public static string Format(IFormatProvider provider, string format, params object[] args)
{
    if ((format == null) || (args == null))
    {
        throw new ArgumentNullException((format == null) ? "format" : "args");
    }

    StringBuilder builder = new StringBuilder(format.Length + (args.Length * 8));
    builder.AppendFormat(provider, format, args);
    return builder.ToString();
}

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