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.
Download FREE Sample Copy of Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-3957
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.
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.
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.
Ask for Customization: https://www.futuremarketinsights.com/customization-available/rep-gb-3956
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
Contact Us:
Corporate Headquarter
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
Check Related Links Here :
https://speaknow.tribe.so/home/posts