Sulphur Market Size, Share | Global Industry Analysis Report, 2030
Posted by ChemAnalyst on October 25th, 2021
According to ChemAnalyst report, “Sulphur Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Regional Demand, 2015-2030”, Sulphur market has grown significantly in the last five years and is anticipated to achieve a CAGR of 3.81% in the forecast period until 2030. Growing demand of Sulphur due to the rising consumption by chemical processing and fertilizer industry across the globe is likely to boost the global Sulphur market in upcoming years. The production of Sulphur is highly associated with the safety standards on human health as well as environment before it can be further manufactured by the industries which also enhances the compliance standards.
Sulphur is basically a multivalent, non-metallic chemical compound which is present abundantly in the environment. It is Pale yellow, tasteless and odourless in nature. Sulphur is a poor conductor of electricity and insoluble in water. Sulphur is extensively used for the manufacturing of sulfuric acid, which is widely used for numerous industrial applications. Few applications include the production of petroleum products, pigments, detergents, fibres, sheet metal, explosives, storage batteries, and others. Sulphur in its raw form is used in making fungicides, paper, insecticides, dyestuffs, and numerous other products.
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Paper and bleaching industry has increased the demand of Sulphur for the bleaching purposes and is likely to augment the growth of the global Sulphur market in upcoming years. Surging demand from these downstream manufacturing industries will accelerate the growth of global Sulphur demand. However, its usage in chemical processing account for the largest share as it is mainly used to produce sulphuric acid and other chemicals as of 2020 globally. The demand of Sulphur for the manufacturing of Phosphate Fertilizers, as it is the single largest end-use of Sulphur will boost the Sulphur market across the globe in the next ten years. Use of Sulphur for the processing of metal and cement polymer concrete for construction industry is another important application which will further drive the Sulphur market in upcoming years. Plantations happens to be the main driver for the growing demand of fertilizers in the next few years, and in turn, will drive the global sulphur market. Rising demand of fertilizers from the main agricultural regions will bolster the market growth of Sulphur in upcoming years.
Global Sulphur Market is segmented based on end-use industry, manufacturing process, distribution channel and region. Based on end-use industry, market is segregated into fertilizer, chemical processing, metal manufacturing, rubber processing, and others. Among which, the chemical processing industry holds the share of total Sulphur demand, which is more than 85% in 2020 followed by fertilizer industry which is expected to be growing rapidly during the forecast period. In terms of the manufacturing process, the global sulphur market is segmented into Claus Process and Frasch Process. Many companies use the Frasch process to extract sulphur from underground deposits as it is the only industrial method of present for recovering sulphur from elemental deposits.
In 2020, Due to the outbreak of COVID-19, the coronavirus pandemic triggered an unprecedented decline in several manufacturing industries due to the global crises which led to nationwide lockdowns and government restrictions across several nations to contain the spread of deadly virus. The demand of Sulphur from major end-user industries reported a steep decline due to producers as well as consumer’s plant turnarounds in order to suppress or prevent the disease spread. This has a negative impactive in the demand from across all the downstream sectors such as automotive, construction and other.
Region wise, Asia Pacific Region dominates the global Sulphur market. The Asia Pacific Region is expected to maintain its dominance in the forecast period due to the increasing demand for sulphur in fertilizer and rubber processing from emerging economies including India and China.
“Linked to the downstream applications in the automotive, fertilizer, construction and other industries, the Global Sulphur Industry has shown a considerable growth in historic period and is anticipated to boost the market in the forecast period. The high demand of Sulphur is due to the important industrial and chemical manufacturing processes. It is expected that India will witness a robust growth in the Sulphur Market due to its high demand in the agriculture sector and is expected to become one of the biggest consumer markets of Sulphur until 2030. With upcoming competitors across the Sulphur market, it is extremely important to be focused on the market and which region will grab the biggest market share in the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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Joined: August 3rd, 2021
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