The elemental sulfur market is predicted to be worth US$ 6,667 million in 2023 and rise to US$ 9,135.4 million by 2033. Demand was initially expanding at a market CAGR of 2.9% between 2018 and 2022.
Due to its strong growth rate and expanding investments and production, the agriculture sector is expected to fuel the market’s rise throughout the forecast period. The production of unfavorable hydrogen sulfide and sulfur dioxide emissions from sulfur recovery is a significant issue that will limit market growth over the forecast period.
Production must keep up with the continual growth in consumption. The growing global population will almost certainly raise future demand for elementary sulfur. Food costs must eventually rise to promote increased expenditure and production. One of the many industrial applications for elemental sulfur is the production of H2SO4, which is mostly used to make fertilizer.
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The Middle East and the mainland now have new facilities for the elemental sulfur process. Due to China’s growing coal chemical industry and the strict environmental regulations it has spawned, multiple recovery plants have been built, increasing production by 8%.
Key Takeaways
- By 2033, the elemental sulfur market in the United Kingdom is likely to expand, with a CAGR of 2.2%.
- In 2023, the United States is projected to dominate the market share of 12% in the elemental sulfur sector.
- The elemental sulfur market was significantly expanding, with a size of US$ 6,467 million in 2022.
- By 2033, the elemental sulfur market in China is projected to expand, with a CAGR of 3.9%.
- In 2023, Germany is expected to expand significantly in the elemental sulfur business, with an expected share of 4.1%.
- By 2033, India is projected to grow considerably in the Elemental sulfur market, with a share of 4.5%.
- In 2023, Australia is likely to develop substantially in the elemental sulfur business, with an expected share of 1.2%.
- Japan’s elemental sulfur industry share is likely to expand significantly, with a 4.6% share in 2023.
- In 2023, the oil segment is expected to lead the market with a share of 49.6% and is likely to hold a top spot in the market in terms of source by 2033.
- Agrochemicals are predicted to hold the top rank in the market in terms of application by 2033 and to have a market share of 53.5% in 2023.
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Competitors Winning Strategies
Elementary sulfur manufacturers are introducing cutting-edge sulfur-based fertilizers to take advantage of the rising demand as knowledge of the value of sulfur in fertilizers continues to increase. Key elemental sulfur businesses compete with several local players and emerging start-ups regarding production capacity, technical improvements, and customer connections to obtain a competitive edge in the market.
Recent Developments:
- Northern Nutrients stated in June 2021 that it intended to construct a new plant using Shell Thiogro technology to produce improved urea fertilizer utilizing elemental sulfur. When it became operational in 2022, this production plant enabled the corporation to manufacture its elemental sulfur urea fertilizer brand in Canada.
- In August 2020, Gazprom Export, a sizable division of Gazprom, boosted export volume in August 2020. The business provided over 1.3 million tonnes to customers abroad.
Top Key Player in the Global Market
- The Saudi Arabian Oil Company
- Marathon Petroleum Corporation
- Exxon Mobil 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
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Key Segmentation
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
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