REPORT HIGHLIGHT
Insoluble Sulfur Market size was valued at USD 1,708.6 Million in 2022, expanding at a CAGR of 3.9% from 2023 to 2030.
Standard rubber additives include insoluble sulfur. It raises the level of wearability, fatigue resistance, and age resistance in products. It is frequently used to make latex, rubber, rubber parts for cars of all shapes and sizes, rubber tires, rubber pipes, rubber shoes, and cable and wire insulating materials. Additionally, everyone agrees that it is the greatest vulcanizing agent. It is also a crucial component of belt tires.
Insoluble Sulfur Market - Market Dynamics:
- Increasing demand for rubber products drives market growth
- One of the main factors driving the market for insoluble sulfur is the rising demand for rubber goods, notably in the automobile industry. When making tires, insoluble sulfur is frequently employed as a vulcanizing agent to increase the rubber's durability and mechanical qualities. The demand for insoluble sulfur is anticipated to increase along with the development of the automotive sector and the increased popularity of high-performance tires. For instance, the number of vehicles sold in 2021 was 26 million, up 7.1% from the year before, including 21.48 million passenger automobiles, according to data from the Ministry of Industry and Information Technology. Additionally, according to the Bureau of Transportation Statistics, the number of vehicles produced in the US in total (including passenger cars and commercial vehicles) increased by 4.5% from the previous year, from 8.8 million units in 2020 to 9.1 million units in 2019. Thus, this is expected to drive the market growth during the forecast period.
Insoluble Sulfur Market - Key Insights:
- As per the analysis shared by our research analyst, the global Insoluble Sulfur market is estimated to grow annually at a CAGR of around 3.9% over the forecast period (2023-2030).
- The insoluble sulfur industry is projected to grow at a significant rate due to the rising automotive industry.
- Based on the grade, the regular grade segment is expected to dominate the market during the forecast period.
- Based on region, the Asia Pacific is expected to dominate the market during the forecast period.
Insoluble Sulfur Market- Segmentation Analysis:
- The Global Insoluble Sulfur Market is segmented based on grade, application, and Region.
- Based on the grade, the global market is segmented into high dispersion, high stability and regular grade. The regular grade segment is expected to dominate the market during the forecast period. This is due to the product's widespread use across all industries that make rubber compounds. Additionally, the standard grade product-which is often the one without any additional mixtures-is regarded in the industry as the most fundamental type of insoluble sulfur. All significant industry players make regular form, which is extensively utilized as a vulcanizing agent. Despite the material being deemed non-hazardous by EC standards, it is nonetheless urged that anybody handling it at work take some basic safety procedures.
Insoluble Sulfur Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. The Asia Pacific is expected to dominate the market during the forecast period. The expanding automobile industry has been credited for the market expansion in the area. For instance, the Society of Indian Automobile Manufacturers reports that overall passenger car sales increased from 30,69,523 to 38,90,114. Sales of passenger cars increased from 14,67,039 to 17,47,376, utility vehicles from 14,89,219 to 20,03,718 and vans from 1,13,265 to 1,39,020 units in FY-2022-23 compared to the previous year. The overall increase in commercial vehicle sales was from 7,16,566 to 9,62,468 units. Light Commercial Vehicle sales grew from 4,75,989 to 6,03,465 units compared to the previous year, while Medium and Heavy Commercial Vehicle sales rose from 2,40,577 to 3,59,003 units. Thus, the aforementioned stats drive the market growth in the region.
Insoluble Sulfur Market- Competitive Landscape:
To remain competitive in the market the key players adopted various strategies including product launches, acquisitions, partnerships, agreements and others. The key players are SHIKOKU CHEMICALS CORPORATION, Schill + Seilacher "Struktol" GmbH, Grupa Azoty, Shanghai Shangyi Chemical Technology Company, China Sunsine Chemical Holdings Limited., Nynas AB, KUMHO PETROCHEMICAL, Oriental Carbon & Chemicals Limited, Willing New Materials Technology Co. Ltd., SANSHIN CHEMICAL INDUSTRY CO. LTD., Henan Kailun Chemical Co. Ltd., CHEMSPEC LTD., LANXESS, WUXI HUASHENG RUBBER TECHNICAL CO. LTD, Tongnuo Group Co. Ltd., Heze Great Bridge Chemical Co. Ltd., Zhejiang NetSun Co. Ltd., Changde Dingyuan Chemical Industrial Limited, LIONS INDUSTRIES and Eastman Chemical Company.
Recent Developments:
In April 2022, as part of a multi-year strategic partnership with Eastman, Maip Group, a leading worldwide compound maker, presented unique components for new resins in the automotive sector.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL INSOLUBLE SULFUR MARKET KEY PLAYERS
- SHIKOKU CHEMICALS CORPORATION
- Schill + Seilacher "Struktol" GmbH
- Grupa Azoty
- Shanghai Shangyi Chemical Technology Company
- China Sunsine Chemical Holdings Limited.
- Nynas AB
- KUMHO PETROCHEMICAL
- Oriental Carbon & Chemicals Limited
- Willing New Materials Technology Co. Ltd.
- SANSHIN CHEMICAL INDUSTRY CO. LTD.
- Henan Kailun Chemical Co. Ltd.
- CHEMSPEC LTD.
- LANXESS
- WUXI HUASHENG RUBBER TECHNICAL CO. LTD
- Tongnuo Group Co. Ltd.
- Heze Great Bridge Chemical Co. Ltd.
- Zhejiang NetSun Co. Ltd.
- Changde Dingyuan Chemical Industrial Limited
- LIONS INDUSTRIES
- Eastman Chemical Company
GLOBAL INSOLUBLE SULFUR MARKET, BY GRADE
- High Dispersion
- High Stability
- Regular Grade
GLOBAL INSOLUBLE SULFUR MARKET, BY APPLICATION
- Tire Manufacturing
- Industrial Application
- Footwear
- Others
GLOBAL INSOLUBLE SULFUR MARKET, BY REGION
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA