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“Growth in solid sulphur demand majorly driven by huge consumption in agriculture industry”
The solid sulphur market size is estimated to be USD 3.2 billion in 2020 and is projected to reach USD 3.7 billion by 2025, at a CAGR of 3.0 %. The high growth witnessed in the fertilizers sector in the developing economies of APAC is a key factor driving the solid sulphur market. APAC is the fastest-growing market in the fertilizer industry. With the boost in the economy, the APAC market has witnessed the fastest growth with respect to electronic chemicals and materials, thus fueling the demand for solid sulphur. However, the high cost of extraction through mining is a restrain.
“Fertilizer segment is largest and fastest-growing application of solid sulphur”
Sulphur, being a by-product of oil and gas refineries is very economical and is widely consumed in the production of fertilizer such as calcium sulphate, which is a well-known fertilizer for preventing nutrient runoff as well as soil erosion. Growing adoption of sulphur in organic farming as an important chemical is a major factor driving the growth of the global sulphur market. Less precipitation of sulphur dioxide on agricultural fields due to stringent emission norms on oil and gas refineries has led to physical application of sulphur on agricultural lands. These factors have increased the demand for solid sulphur in the fertilizer application.
“APAC is largest and fastest-growing market for solid sulphur”
APAC is projected to register the fastest growth during the forecast period. China is expected to be one of the major markets for solid sulphur. The growing demand from fertilizers and chemical processing applications is expected to drive the market in China during the forecast period.
Extensive primary interviews were conducted in the process of determining and verifying the market size of different grades and applications of solid sulphur gathered through secondary research.
The breakdown of primary interviews is given below:
- By Company Type: Tier 1 – 55%, Tier 2 – 30%, and Tier 3 – 15%
- By Designation: C-Level Executives – 21%, Director-Level – 23%, and Others – 56%
- By Region: North America – 20%, Europe – 20%, Central Europe- 20%, APAC – 20%, South America – 10%, and Middle East & Africa – 10%
The key companies profiled in this report for the solid sulphur market include Abu Dhabi National Oil Company (UAE), Marathon Petroleum Corporation (US), Qatar Petroleum (Qatar), Gazprom (Russia), Saudi Aramco (Saudi Arabia), and Chemtrade Logistics (Canada).
The solid sulphur market has been segmented based on manufacturing process, application, and region. This report covers the solid sulphur market and forecasts its size until 2025. It also provides detailed information on company profiles and competitive strategies adopted by the key players to strengthen their position in the market. The report also provides insights into the drivers and restraints, along with opportunities and challenges, in the market. The report also includes profiles of top manufacturers in the market.
Reasons To Buy the Report
The report is expected to help market leaders/new entrants in the following ways:
- This report segments the solid sulphur market and provides the closest approximations of revenue numbers for the overall market and its segments across different verticals and regions.
- This report is expected to help stakeholders understand the pulse of the market and provide information on key market drivers, restraints, challenges, and opportunities influencing the market growth.
- This report is expected to help stakeholders obtain an in-depth understanding of the competitive landscape of the solid sulphur market and gain insights to improve the position of their businesses. The competitive landscape section includes detailed information on strategies, such as expansion and merger & acquisition.