Elemental Sulfur Market Outlook, Current and Future Industry Landscape Analysis 2031
As per Future Market Insights (FMI), the global elemental sulphur market will total US$ 6.27 Bn in 2021. The demand for elemental sulphur is expected to grow by 3% CAGR between 2021 and 2031. The report projects the total volume sold in the market to total 106 Mn Tons by 2031.
Demand for elemental sulphur slumped to an extent due to the
onset of the COVID-19. Suspension of production activities and disruptions in
supply chains further dampened sales prospects. However, FMI has projected
steady recovery of the market, with sales forecast to grow year-over-year by
3.30% between 2020 and 2021.
Growing demand for elemental sulphur in the agrochemicals
industry is expected to bode well for the market. Sulphur is an essential
nutritive element that improves plant growth and overall crop yield. A majority
of crop plants go through sulphur deficiency. Sulphur is utilized in
phosphate-based fertilizers to maintain a consistent supply of nutrients in
crops. This will act as a chief growth driver for the elemental sulphur market.
Besides this, increasing adoption of sulphur for rubber
vulcanization in the automotive and electronic sectors is expected to spur
demand for elemental sulphur. Vulcanized rubber is used in the production of
tires, cables, hoses, and other rubber components in consumer goods.
Ongoing expansions of the automotive and consumer goods
sectors is expected to propel the demand for vulcanized rubber, which in turn
will augment growth of the elemental sulphur market.
“Favorable
government policies and subsidies to support the expansion of the mining
industry in various countries are expected to create conducive environment for
elemental sulphur market growth. In addition to this, growing adoption of
sulphuric acid for wastewater treatment will continue driving sales of
elemental sulphur over the forecast period,” says an FMI analyst.
Key Takeaways:
- Based
on source, the gas-based segment is expected to hold a dominant share in
the global elemental sulphur market.
- In
terms of applications, sales of elemental sulphur in the agrochemicals
segment are anticipated to gain traction over the forecast period.
- The
U.S. is expected to dominate the North America elemental sulphur market.
Sales of elemental sulphur are projected to increase at a 2.60% CAGR in
North America.
- The
U.K. will emerge as a lucrative pocket in the global elemental sulphur
market. Demand for elemental sulphur in Europe is expected to soar at a
2.30% CAGR.
- China
is expected to command a lion’s share in the East Asia elemental sulphur
market, due to increasing applications of elemental sulphur in the
production of fertilizers.
- Japan
and South Korea are projected to hold 3.30% of the global elemental
sulphur market n 2021.
Competitive Landscape
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., Flint Hills Resources,
Montana Sulphur & Chemical Co., Jordan Sulphur, and National Est. for
Agricultural & Industrial Sulphur are among the leading players operating
in the global elemental sulphur market.
Read Full Research
Report@ https://www.futuremarketinsights.com/reports/elemental-sulfur-market
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