Elemental Sulfur Market Size Analysis
According to a recent survey conducted by ChemView Consulting, the Global Elemental Sulfur Market grew at a CAGR of 2.9% between 2017-2021 and is estimated to be US$ 5,743.9Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 4.1% and is expected to reach a valuation of US$ 8,584.5Mn by 2032 end.
Sulfur is a common ingredient in black gunpowder, fungicides for use in agriculture, and the vulcanization of black rubber. Elemental sulfur is used more frequently to make sulphuric acid in the chemical and petroleum refining industries. In addition, it produces phosphoric acids, which are used to create phosphates for fertilizers.
As a result, the market for elemental sulfur will continue to be primarily driven by application across various industries. To quickly identify gas leaks, mercaptans, which are present in elemental sulfur, are added to natural gas sources. This factor encourages its applications even more in the oil and gas industry. In packaged food goods, sulfites from elemental sulfur are used as preservatives.
Market Dynamic
INCREASING APPLICATIONS OF FERTILIZERS DRIVE THE ELEMENTAL SULPHUR MARKET
Demand for efficient fertilizers to boost crop productivity and product quality is rising as food production increases globally. Farmers in the agricultural industry are becoming aware of the requirement for sufficient plant nourishment. As a result, fertilizer sales are increasing, which is anticipated to fuel the growth of the elemental sulfur market.
One of the 17 nutrients plants require to flourish is sulfur. However, a steady sulfur supply is necessary for crop maturity because it is immobile inside the plant. Reduced yields can occur when crops lack sulfur at any stage of growth.
The increase in the cultivation of crops that consume a lot of sulfur, including canola and alfalfa, causes the amount of organic sulfur in soil to decrease gradually. Oil synthesis is encouraged by sulfur in fertilizers, which is essential for oilseeds. It effectively stimulates protein synthesis while activating the enzymes needed for photosynthesis and metabolic processes. Plants that produce more protein and oil have better cereal quality for baking and milling, and forages have higher nutritional value.
HIGH COSTS MAY HAMPER THE GLOBAL ELEMENTAL SULFUR MARKET
High mining costs and stringent government regulations regarding sulfur use may hamper the global market for elemental sulfur.
RUBBER AND PLASTICS INDUSTRY PROPELLING DEMAND FOR ELEMENTAL SULPHUR
The rubber and plastics industries rely heavily on the sulfur vulcanization process. Vehicle tires, water hoses, electronic wires, conveyor belts, and shoe bottoms are a few items made from vulcanized rubber.
One of the biggest consumers of natural and synthetic rubber is the automotive industry, which uses it for tires and other parts like wires and cables used in engines. The electronics industry’s expanding use of vulcanized rubber is also anticipated to boost elemental sulfur sales. Thus, rising consumer electronics, wire, and cable sales will keep driving up demand for elemental sulfur.
Market Segments Covered in Report
By Application:
By Source:
By Region and Country:
Segment-Wise Analysis
Which is the preferred source of elemental sulfur?
Depending on the source, it is anticipated that demand for gas-based elemental sulphur will increase over the assessment period. In the global market for elemental sulfur, natural gas reservoirs with high sulfur concentrations are becoming more popular sources.
Sulfur dioxide is produced industrially by burning off air or oxygen in sulfur or other sulfur compounds, such as those found in iron and copper pyrite, which are found in volcanic gases and warm water springs. The burning of fuels containing sulfur produces significant amounts of sulfur dioxide.
Most firms now extract elemental sulfur using this technique. Throughout the assessment period, this is anticipated to increase sales of gas-based elemental sulfur.
Which is the leading application of elemental sulfur?
As it relates to the application, sales of elemental sulfur are predicted to increase in the agrochemicals market. Sales of elemental sulfur are anticipated to rise as agrochemicals, particularly phosphate fertilizers, embrace it more widely.
The benefits of the elemental sulfur found in fertilizers are numerous. It improves the formulations of chlorophyll, which boosts plant photosynthesis. The building blocks of protein, methionine, cystine, and cysteine, are present. Combining these nutrients may increase crop yields and product quality, driving demand for elemental sulfur in the agrochemicals market.
Region-Wise Analysis
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
Competition Analysis
Leading companies in the market for elemental sulfur are concentrating on mergers, acquisitions, and partnerships to expand their reach internationally. Players are also engaging in partnerships and acquisitions to increase their production capabilities and meet the rising demand for elemental sulfur from various industries.
The key developments in the Global Elemental Sulfur Market:
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
Research Scope | Details |
Forecast period | 2022-2032 |
Historical data available for | 2017-2021 |
Market analysis | USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032 |
Key regions covered | North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa |
Key countries covered | US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt |
Key segments covered | By Application, Source, and Region |
Customization scope | Available upon Request |
Pricing and purchase options | Available upon Request |
Frequently Asked Questions
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 4.1%.
Increasing applications of fertilizers drive the elemental sulfur market
Major global Elemental Sulfur Market players are The Saudi Arabian Oil Company, Marathon Petroleum Corporation, Exxon Mobile Corporation, Tengizchevroil, Valero Energy Corporation, Sinopec Corp., Royal Dutch Shell Plc., Pemex, OAO Gazprom, Abu Dhabi National Oil Company, Motiva Enterprises LLC, ConocoPhillips Company, Oxbow Corporation, PotashCorp, Suncor Energy Inc.
High mining costs and stringent government regulations regarding sulfur use may hamper the global market for elemental sulfur.
Asia Pacific Region is expected to account for the largest market revenue share in the Global Elemental Sulfur market.
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