Priority Survey, recently published report on “Sulfur Size, Share, Sulfur Growth Market Analysis, Trends, Scope, Regional Outlook and Segment Forecasts 2021-2030”.
OTTAWA, February 15, 2021 (GLOBE NEWSWIRE) – Global the size of the sulfur market exceeded $ 12.75 billion in 2020 and is projected to be worth about $ 17.13 billion by 2030, with a significant CAGR of 3% over the projected period 2021 to 2030.
Sulfur is a solid nonmetal that has the chemical symbol ‘S’. Naturally occurring sulfur is pale yellow in color and a poor conductor of heat. In addition, it is insoluble in water and exists in two main crystalline forms, including monoclinic sulfur and rhombic sulfur. It is a colorless, odorless element and less conductive electricity. Sulfur primarily occurs in the solid state usually at 20 ° C and is a widely used chemical in the commercial sectors. Sulfur is used as a basic raw material in the production of matches, fungicides, insecticides, detergents, batteries and black powder. Sulfur plays a vital role in the vulcanization of black rubber. Sulfur dioxide is also produced from sulfur, as well as sulfuric acids. Demand for sulfur is growing worldwide to produce fertilizers. The key fertilizer used in the prevention of soil erosion, as well as nutrient leakage, is calcium sulfate, which is mainly produced from sulfur. However, it can affect human health, such as behavioral changes, heart damage, and neurological effects, among other things.
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The growing acceptance of sulfur in the agricultural fertilizer industry is a major factor driving the growth of the global sulfur market. In addition, the growing demand for sulfur-based chemical elements in commercial industries, including the pharmaceutical, chemical and rubber industries, is expected to spur the growth of the target industry over the forecast period. Calcium sulfate is a fertilizer that is known to prevent soil erosion, and sulfur is widely used in the production of calcium sulfate because of its cost-effectiveness. This is among the main factors that are predicted to increase the growth of the global market in the next few years. However, the detrimental effects of sulfur on human health, together with the high costs associated with sulfur extraction, hamper the growth of the target market over the projected time frame. Nevertheless, new sulfur applications are expected to create potential growth opportunities for the target market. The countries in the Asia-Pacific region are focusing on agricultural growth, and it is expected that demand and sulfur production will increase in the near future, and market growth will be stimulated in the near future.
- Among end-use industries, the chemical processing sector represents the largest revenue with a significant share in 2020. This growth is the result of growing demand for sulfur from the chemical processing industry worldwide. The fertilizer is expected to grow at a significant CAGR over the projected time frame.
- Royal Dutch Shell PLC, represented a significant share of the global sulfur market. The growth is attributed to various business strategies adopted by the company.
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The report covers data for North America, Europe, the Asia-Pacific region, Latin America and the Middle East and Africa. In 2020, the Asia-Pacific region dominated the global market with a market share of more than 30%. Chin represents the largest share in the Asia-Pacific region, primarily due to increased energy production, along with favorable government sulfur production policies in the region. A further increase in sulfur-based fertilizer adoption and the presence of key companies in the country are other important factors contributing to the high market share of the Asia-Pacific region over the forecast period. Furthermore, North America is an important sulfur market. The growth of the sulfur industry in North American countries is attributed to the increasing adoption of sulfur in various end-use applications such as phosphate fertilizers, various chemical elements, and rubber, among others in the United States and Canada. North America expected growth from the maximum CAGR over the forecast period due to increasing investment in agriculture, along with an increase in vulcanized rubber production in countries in the region, particularly in the United States. Also, the increased lack of sulfur in the soil is another factor that is expected to stimulate the growth of the sulfur industry in developed economies and developing countries around the world. Further, strict regulatory regulations for sulfur emission regulations may have a positive impact on the industry’s target growth in the future. Latin America and the Africa and Middle East region will show noticeable growth over the forecast period thanks to growing preferences for the production of high quality crops in the regions.
Key market players and strategies:
The main companies operating in the global sulfur industry are Royal Dutch Shell PLC, Gulf Sulfur Services Ltd., LLLP, Merafe Resources Ltd. Chemtrade Logistics Inc. Marathon Petroleum Corporation, Enersul Limited Partnership, Freeport-McMoRan Sulfur LLC Abu Dhabi National Oil Company, Ohio Sulfur Mining Company and China Petroleum & Chemical Corporation, among others. Investing in sulfur research and development, along with strategic collaboration, are key business strategies undertaken by major players operating in the global sulfur market.
According to the end-use industry
- Chemical treatment
- Metal production
- Rubber processing
- The others
- North America
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
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