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.
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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.
- 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.
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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More Insights into the Elemental Sulphur Market Report
In its latest report, FMI offers an unbiased analysis of the global elemental sulphur market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of source (gas-based, oil-based, and mining), and applications (agrochemicals, chemicals & petroleum refinery, rubber & plastics, mining & metallurgy, and paper & pulp) across seven regions (North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East & Africa).
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Elemental Sulphur Market by Category
- Chemical & Petroleum Refining
- Rubber & Plastics
- Mining & Metallurgy
- Paper & Pulp
- North America
- Latin America
- East Asia
- South Asia
- Middle East & Africa