PUBLISHER: Allied Market Research | PRODUCT CODE: 1179729
PUBLISHER: Allied Market Research | PRODUCT CODE: 1179729
The global solid sulfur market was valued at $3.4 billion in 2021, and is projected to reach $4.9 billion by 2031, growing at a CAGR of 3.7% from 2021 to 2031.
Solid sulfur is the most essential raw material in the chemical industry. It occurs in the three forms such as odorless, tasteless, brittle solid, and pale yellow in color. The properties of solid sulfur include poor conductor of electricity, insoluble in nature, and has great stability.
Factors such as rise in global population, increase in the demand for food, growing import and export trade, advancement of technology, and booming agriculture sector have witnessed the significant growth of agriculture industry. For instance, according to an article published by India Brand Equity Foundation in August 2022, the Indian agricultural sector is predicted to increase to US$ 24 billion by 2025. These factors are enhancing the performance of sulfur in the agriculture sector. Furthermore, sulfur is an essential element for growth functions in plants including enzyme activity, protein, oil synthesis, nitrogen metabolism, and others owing to which it is employed widely on crops as a fertilizer and an essential nutrient in plant and thus, helps in maintaining the crop yields. This is projected to enhance the demand for the solid sulfur market during the forecast period. In addition, government ban and regulation on plastic use have enhanced the performance of rubber industry. Furthermore, rise in demand for synthetic rubber in various end use industry including, automotive, consumer products, industrial, and others have enhanced the growth of rubber industry. For instance, according to an article published by IBIS World in April 2022, the synthetic rubber manufacturing industry is expected to grow by $2.4bn in 2022. Solid sulfurs are extensively used as an essential ingredient for the formation of cross-links between the rubber and rubber chain in the vulcanization process thus, increasing the elasticity and mechanical properties of rubber. These factors together escalate the growth and potential sales of solid sulfur in the rubber industry.
However, there is numerous side effect linked with using solid sulfur. The exposure comes mainly by absorption of solid sulfur through the skin and the lining of the mouth leading to such exposure has various side effects such as dermatitis, skin irritation, and it may develop allergic reactions. Furthermore, government of developed and developing nations have set up norm and regulation of sulfur production limit has hampered the market. For instance, the IMO 2020 sets regulation limits on sulfur carrying in ships' fuel oil to a maximum 0.50%. The regulation has been in force globally since 1 January 2020, under IMO's MARPOL treaty, with benefits for the environment and human health from a reduction in sulfur oxides in the air. These factors together are predicted to hamper the overall growth of the solid sulfur market.
The increase in the usage of integrated circuits, microchips, transistors, solar cells, and the impact of digitalization across the globe has led to an increase in the production rate of semiconductors. For instance, according to an article published by Semiconductor Industry Association in January 2022, worldwide sales of semiconductors totaled $152.5 billion during the second quarter of 2022, an increase of 13.3% over the second quarter of 2021 and 0.5% more than the first quarter of 2022. Furthermore, Solid sulfurs are extensively used as adhesive tape in the production and processing of semiconductor components, and helps in protecting the surface of semiconductor wafer during back grinding process. Additionally, it holds semiconductor wafer with ring frame during dicing process. These factors are boosting the Solid sulfurs during the forecast period; thus, offering most lucrative opportunities for the market.
The solid sulfur market is segmented on the basis of by application, end use industry, and region. On the basis of application, the market is categorized into manufacturing of sulfuric acid synthesis, sulphonates surfactants synthesis, agrochemicals, metal extraction, oil refining, and others. On the basis of end use industry, it is divided into chemical, agriculture, rubber, pulp and paper, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in this report include Abu Dhabi National Oil Company, Alfa Aesar, Thermo Fisher Scientific, Bharat Petroleum Co. Ltd, ChemPoint, Enersul Limited Partnership, Georgia Gulf Sulfur Corporation, H.J. Baker, Kuwait petroleum corporation, Merck KGaA, Motiva Enterprises LLC, Repsol, Shell Plc, Sinopec Shanghai Petrochemical Co., Ltd., TCI America, and Valero Energy Corporation. The global solid sulfur market report provides in-depth competitive analysis as well as profiles of these major players.
Key Benefits For Stakeholders
By Application
By End-Use Industry
By Region