Overview and Scope
Sulfur is the process of mining sulfur and sulfur compounds that are used in manufacturing black gunpowder, matches, and fireworks.
Sizing and Forecast
The sulfur market size has grown strongly in recent years. It will grow from $17.44 billion in 2023 to $18.97 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to fertilizer production, chemical manufacturing, petroleum refining, mining industry, pharmaceuticals and healthcare.
The sulfur market size is expected to see strong growth in the next few years. It will grow to $25.73 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to growing agriculture and fertilizer demand, environmental regulations, expanding chemical industry, energy sector developments, technological advances in healthcare. Major trends in the forecast period include demand for elemental sulfur in agriculture, sulfur in pharmaceuticals and personal care products, growth in vulcanization processes, increased exploration of sulfur deposits, sulfur as a cathode material in batteries.
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Segmentation & Regional Insights
The sulfur market covered in this report is segmented –
1) By Type: Fertilizers, Chemical Processing, Sulfur-Metal Manufacturing, Petroleum Refining, and Other Types- Sulfur
2) By Mining Type: Underground Mining, Surface Mining
Asia-Pacific was the largest region in the Sulfur market in 2023. The regions covered in the sulfur market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Increasing demand for mining and emerging markets is expected to propel the growth of sulfur market going forward. Mining involves extracting valuable minerals or geological materials from the earth's surface or subsurface. Sulfur is a crucial component in many mining explosives, particularly those used in coal mines. Its properties like detonation velocity, density, and water resistance make it ideal for controlled blasting operations. For instance, in February 2023, according to a report published by the United States Geological Survey, a US-based government agency, mines in the United States yielded non-fuel mineral commodities with a total estimated value of approximately $98.2 billion in 2022, marking a $3.6 billion increase from the revised 2021 total of $94.6 billion. The production value of all industrial minerals in the U.S. for 2022 was estimated at $63.5 billion, constituting roughly 65% of the overall mine production value in the country. Therefore, increasing demand for mining and emerging markets is driving the growth of sulfur market.
Key Industry Players
Major companies operating in the sulfur market report are China Petroleum & Chemical Corporation, Shell plc, Coromandel International Ltd., GAZPROM PAO, Koch Industries Inc., Nutrien Ltd., The Abu Dhabi National Oil Company, Yara International ASA, The Mosaic Company, Israel Chemicals Ltd., K+S Aktiengesellschaft, Yellow Rock Resources Ltd., Deepak Fertilisers and Petrochemicals Corporation Ltd., Globe Specialty Metals Inc., Merafe Resources Ltd., Largo Resources Ltd., Treibacher Industrie AG, Haifa Group, Gulf Chemical and Metallurgical Corporation, Lyten Inc., Reed Resources Ltd., Williams & Companies Ltd., Core Metals Group Ltd., Essel Mining and Industries Limited, Bear Metallurgical Company LLC, AUROX Resources Ltd., Tremond Alloys & Metals Corporation, Ohio Sulfur Mining Company, Freeport Sulfur Company, Texas Gulf Sulfur Company, low sulphur fuels limited, Ecospec Noveltech Pte. Ltd., BASF SE, China National Chemical Corporation
The sulfur market report table of contents includes:
- Executive Summary
- Sulfur Market Characteristics
- Sulfur Product/Service Analysis -Product/Service Examples
- Sulfur Market Trends And Strategies
- Sulfur Market – Macro Economic Scenario
- Global Sulfur Market Size and Growth
- Sulfur Market Segmentation
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- Key Mergers And Acquisitions In The Sulfur Market
- Sulfur Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Sulfur Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Sulfur Market, Segmentation By Mining Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Sulfur Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 121: China Petroleum & Chemical Corporation Financial Performance
Table 122: Shell plc Financial Performance
Table 123: Coromandel International Ltd. Financial Performance
Table 124: GAZPROM PAO Financial Performance
Table 125: Koch Industries Inc. Financial Performance
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