Apr 20, 2021 (Market Stats News via COMTEX) -- The global sulfur market size is likely to reach USD 17.13 billion by 2030 USD 12.75 billion in 2020 and is anticipated to grow with a healthy growth rate of 3% over the forecast period. The base year considered for the study is 2020, and the forecast has been provided for the period from 2021 to 2030.
This report represents the global sulfur market size (value, consumption, and production), splits the breakdown (data status 2017-2021 and forecast to 2030), by manufacturers, end-use industry and regions.
Sulfur is solid non-metal having chemical symbol 'S'. Naturally occurring sulfur is pale yellow in color and poor conductor of heat. Additionally, it is insoluble in the water and exists in two major crystalline forms including monoclinic sulfur and rhombic sulfur. It is odorless, colorless element with less conductor of electricity. Sulfur primarily occurs in the solid state typically at the 20�C and is the widely used chemical in commercial sectors. Sulfur is used as basic raw material in the manufacturing of match sticks, fungicides, insecticides, detergents, batteries, and black gunpowder. Sulfur plays vital role in the vulcanization of black rubber. Sulfur dioxide as well as sulfuric acids is also produced from the sulfur. The demand for the sulfur is growing across the globe in order to produce fertilizers. Key fertilizer which is used in preventing soil erosion as well as nutrient runoff is calcium sulfate, which is broadly produced from sulfur. However, it can effect on human health such as behavioral changes, heart damage, and neurological effects, among others.
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Increasing adoption of the sulfur in agriculture industry for the manufacturing of fertilizers is major factor driving growth of the global sulfur market. In addition to this, growing demand for the sulfur based chemical elements in the commercial industries including pharmaceutical, chemical, and rubber industry is anticipated to fuel growth of the target industry over the forecast period. Calcium sulphate is fertilizer know to prevent the soil erosion and sulfur is largely used in the production of calcium sulphate owing to its cost-effectiveness.
This is among major factors projected to augment growth of the global market in the next few years. However, harmful effects to the sulfur on human health, coupled with high costs associated with extraction of sulfur are expected to hinder growth of the target market during the forecast time frame. Nevertheless, emerging applications of sulfur is anticipated to create potential opportunities for the growth of the target market. Countries in the Asia Pacific region are focusing on the agricultural growth and intern the demand and production of the sulfur is anticipated to increase in the near future and boost the market growth in the near future.
Among the end-use industry, chemical processing segment accounted for the largest revenue with significant share in 2020. This is growth is due to the increasing demand for sulfur from the chemical processing industries across the globe. Fertilizer is expected to grow at a significant CAGR during the forecast time-frame.
Royal Dutch Shell PLC, accounted for a significant share of the global sulfurs market. The growth is attributed to various business strategies adopted by the company.
Key Market Players and Strategies
The major companies functioning in the worldwide sulfurs industry are Royal Dutch Shell PLC, Gulf Sulphur Services Ltd., LLLP, Merafe Resources Ltd. Chemtrade Logistics Inc. Marathon Petroleum Corporation, Enersul Limited Partnership, Freeport-McMoRan Sulphur L.L.C. Abu Dhabi National Oil Company, Ohio Sulphur Mining Company, and China Petroleum & Chemical Corporation among others. Investment in the research and development of the sulfurs along with strategic collaborations are the crucial business strategies undertaken by the major players operating in the global sulfurs market.
The report covers data for North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. In 2020, Asia Pacific dominated the global market with a market share of more than 30%. Chin is presented the highest share in the Asia Pacific region primarily due to increasing energy production, along with the favorable government policies for the sulfur production in the region. Further increasing adoption of sulfur based fertilizers and presence of key companies in the country are other important factors to contribute the high market share of the Asia Pacific over the forecast period.
Further North America is an important market in the sulfur. The growth of the sulfur industry in the countries of the North America is attributed to growing adoption of the sulfurs in the various end use applications such as phosphate fertilizers, various chemical elements, and rubber, among others in the United States and Canada. North America anticipated growing at the maximum CAGR in the forecast period due increasing investments in agricultural activities, coupled with rising production of vulcanized rubber in the countries of the region especially in the United States.
Also, increased deficiency of the sulfur, in the soils is another factor expected to fuel growth of the sulfur industry in the developed as well as emerging economies across the globe. Further, strict regulations by the regulatory bodies for the sulfur emission regulations can have positive impact on the target industry growth in the future. Latin America and the African and Middle Eastern region will show perceptible growth over the forecast period owing to growing preferences for the production of high-quality crops in the regions.
By End-use Industry
North America (United States, Canada)
Europe (Germany, France, UK, Italy, Russia and Rest of Europe)
Asia-Pacific (China, Japan, India, Southeast Asia, Korea and Rest of Asia Pacific)
Latin America (Brazil and Rest of Latin America)
The Middle East and Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
Why should you invest in this report?
If you are aiming to enter the global sulfur market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for sulfur are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2020-2027 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
Key Questions Answered by the Report:
What will be the size of the global sulfur market in 2030?
What is the expected CAGR for the sulfur market between 2021 and 2030?
Which are the top players active in this global market?
What are the key drivers of this global market?