Elemental Sulphur Market to Reach 106 Million Tons by 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.
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2016-2020 Elemental Sulphur Market Outlook in Comparison to 2021-2031 Growth Forecast
Sales in the elemental sulphur market grew at 2.30% CAGR between 2016 and 2020. Sales prospects were dampened to an extent due to suspension of production activities due to COVID-19-induced restrictions in 2020.
However, FMI projects recovery of the market in the forthcoming years, with demand for elemental sulphur growing at a 3% CAGR. Volume sales will reach 106 Million Tons between 2021 and 2031.
Sulphur is widely used in the vulcanization of black rubber, as a fungicide in the agricultural sector, and in black gunpowder. Elemental sulphur uses in the production of sulphuric acid, which is utilized in the chemical & petroleum refining industry, also is rising. Besides this, it is production of phosphoric acids to make phosphates for fertilizers.
Application across diverse sectors will therefore remain a chief driver of the elemental sulphur market. In addition to this, mercaptans, found in elemental sulphur, are added to natural gas supplies to easily detect gas leaks. This factor is further driving its applications in the oil & gas sector.
Sulphites obtained from elemental sulphur are used as preservatives in packaged food products. Ongoing expansion of the packaged food industry and increasing sales of ready-to-eat meals are therefore to result in higher demand for elemental sulphur powder.
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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 in 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.
As per FMI’s analysis, top 5 players operating in the elemental sulphur market are anticipated to account for 23% of the total market share in 2021.
Leading players operating in the elemental sulphur market are actively investing in mergers, acquisitions, joint ventures, and collaborations to strengthen their product portfolios and global footprint.
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Elemental Sulphur Market by Category
By Application:
- Agrochemicals
- Chemical & Petroleum Refining
- Rubber & Plastics
- Mining & Metallurgy
- Paper & Pulp
By Source:
- Gas-Based
- Oil-Based
- Mining
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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