Elemental Sulfur Market Size To Reach $16.78 Billion By 2030

Elemental Sulfur Market Growth & Trends

The global elemental sulfur market size is expected to reach USD 16.78 billion by 2030, according to a new report by Grand View Research, Inc, expanding at a CAGR of 1.8% over the forecast period. The market is projected to witness significant growth in the coming years owing to the increasing demand for high-quality fertilizers. Elemental sulfur is a chemically simpler form and is not combined with other elements in compounds such as sulfur dioxide and sulfates. The market is segmented based on source, end-use, and region. On basis of source, it is segmented into refineries, gas processing plants, and others.

Refineries is one of the major sources to obtain elemental sulfur. The segment is witnessing rising investments by research institutions and major refiners to enhance the sulfur content in crude oil & gas and carry the extraction efficiently and cost-effectively. For instance, in October 2022, India’s Council of Scientific and Industrial Research (CSIR) announced the development of a new single-step hydrogen-free desulphurization process. This process is performed in just one step without the use of hydrogen and has the capability to eliminate as much as 90% of the sulfur content.

Based on end-use, market is segmented into agriculture, chemicals, rubber, metallurgy, and others. Agriculture dominates the market as elemental sulfur is widely utilized in fertilizers owing to its potent acidic properties and ability to convert raw materials into essential plant nutrients. This process involves blending sulfuric acid with other substances, such as ammonia, resulting in products like ammonium sulfate and various nitrogen- and phosphate-based fertilizers.

Based on region, Asia Pacific is anticipated to dominate the market over the forecast period. The rising investment in various industries, such as agriculture, chemical, metallurgy, and rubber, is expected to drive market growth in the region. For instance, in July 2023, Yokohama Rubber Company announced about investment of USD 80 million in expanding tire production in India. The expansion is expected to finish by the fourth quarter of 2024.

The market is competitive and fragmented in nature. As a result, key players in the market are devising strategies to enhance their capacities. Further, expansion in the sulfuric acid market is also anticipated to create lucrative opportunities for market players. For instance, in December 2022, Chemtrade Logistics announced USD 50 million expansion of its UltraPure Sulfuric Acid production unit in Ohio.

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Elemental Sulfur Market Report Highlights

• Based on source, the gas processing plant segment is expected to register a CAGR of 3.3%, in revenue terms, across the forecast period. The growth of the segment is attributed to rising investment in new gas processing plants worldwide.

• Based on end-use, the chemical segment is expected to register a growth rate of 2.2% in terms of revenue across the forecast period.The rising consumption of sulfuric acid products for chemical processes is projected to drive the segment growth.

• North America held a revenue share of over 8.0% in 2022 of the global market. The increasing demand for agricultural fertilizers is primarily driving the demand for elemental sulfur in the region.

• Middle East & Africa is anticipated to register fastest growth rate across the forecast period. The development of oil refineries and petrochemical projects facilitates the growth of the market in the Middle East and African countries.

• Integration is a key aspect of the industry wherein several players have a hold over the operations from raw materials such as sulfur, equipment required in production, and finished products like fertilizer.

Elemental Sulfur Market Segmentation

Grand View Research has segmented the global elemental sulfur market on the basis of source, end-use, and region.

Elemental Sulfur Source (Revenue, USD Million, Volume, Kilotons, 2018 - 2030)

• Refineries

• Gas Processing Plant

• Others

Elemental Sulfur End-Use (Revenue, USD Million, Volume, Kilotons, 2018 - 2030)

• Agriculture

• Chemical

• Rubber

• Metallurgy

• Others

Elemental Sulfur Regional Outlook (Revenue, USD Million, Volume, Kilotons, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Spain

  • Poland

• Asia Pacific

  • China

  • Japan

  • India

  • Singapore

  • Indonesia

• Central & South America

  • Brazil

• Middle East & Africa

  • South Africa

  • UAE

List of Key Players in the Elemental Sulfur Market

• ADNOC Group

• Arabian Oil Co.

• China Petrochemical Corporation

• Georgia Gulf Sulfur Corporation

• Intrepid Potash

• JOHN H. CARTER COMPAY

•  Motiva Enterprises LLC

• Shell plc.

• Suncor Energy Inc.

• Valero, Grupa