Steady Growth: Elemental Sulfur Market Projected to Reach USD 9,135.4 Million by 2033, with a CAGR of 3.2% | FMI Reports

                                                                                     elementor sulfer market

 

The elemental sulfur market is predicted to be worth USD 6,667 million in 2023 and rise to USD 9,135.4 million by 2033. Demand was initially expanding at a market CAGR of 2.9% between 2018 and 2022.

The agricultural sector is anticipated to fuel the market’s expansion throughout the projected period due to its strong growth rate and rising investments and production. A significant problem connected with sulfur recovery is the release of undesirable hydrogen sulfide and sulfur dioxide emissions, restraining the market’s expansion over the projection period.

Production must maintain pace with consumption’s ongoing expansion. The expanding world population is likely to increase future demand for elementary sulfur. Eventually, food prices must be high enough to encourage spending and production growth. The generation of H2SO4, primarily used to create fertilizer, is one of the many industrial uses for elemental sulfur.

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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.

Key Players

  • 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

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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.

Key Segmentations

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, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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