(MENAFN- EIN Presswire) Solid Sulfur Market Size Study, Leading Company Analysis and Forecasts Analysis 2021-2031| Alfa Aesar, ChemPoint
PORTLAND, OREGON, UNITES STATE, November 16, 2023 /EINPresswire / -- Allied Market Research published a report, titled, " by Application (Sulfuric Acid Synthesis, Sulphonate Surfactants Synthesis, Agrochemicals, Metal Extraction, Oil Refining, Others), by End-Use Industry (Chemical, Agriculture, Rubber, Pulp and Paper, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031. The report provides an in-depth analysis of the drivers & opportunities, wavering market trends, competitive market landscape, and market size & estimates. The global solid sulfur market was valued at $3.4 billion in 2021, and is projected to reach $4.9 billion by 2031, growing at a CAGR of 3.7% from 2022 to 2031.
Growth in population coupled with rapid urbanization has surged the growth of the construction sector in both developed and developing economies, where solid sulfurs are popularly used in construction industry as an alternative substitute over cement. In addition, sulfur act as a binding agent in its molten states and replaces conventional concrete like water and cement. This is expected to boost the demand for solid sulfur in the growing building & construction sector. In addition, strong economic growth has surged the establishments of industries where sulfur is used in metal casting industry.
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The solid sulfur segment generated the lion's share in 2031-
The solid sulfur market is segmented on the basis of by application, end use industry, and region. On the basis of application, the market is categorized into manufacturing of sulfuric acid (about 90% is used), synthesis of sulphonates surfactants, agrochemicals, metal extraction, oil refining, and others. On the basis of end use industry, it is divided into chemical, agriculture, rubber, pulp & paper, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. The global solid sulfur market report provides in-depth competitive analysis as well as profiles of these major players.
The thermoset segment to lead the trail till 2031-
Based on type, the Solid Sulfur segment held the major share in 2018, accounting for 91% of the total market and is anticipated to be dominant during the study period. This is attributed to the increase in usage of these coatings in appliances & automotive industry as it provides high level of corrosion, temperature, and impact resistance. The same segment is also predicted to cite the fastest CAGR of 3.7% throughout the forecast period.
The U.S. to retain its top status during 2021-2031
Based on geography, the U.S. region contributed to more than half of the total market share and would rule the roost during the estimated period. Rapid development in the automotive manufacturing sector in the U.S. and rise in demand for powder coating in numerous applications including door handles, rims, and under hood components of vehicles are expected to spur the growth of the U.S. powder coating market.
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Frontrunners in the industry-
The key market players analyzed in the report include Abu Dhabi National Oil Company, Alfa Aesar, Thermo Fisher Scientific, Inc., Bharat Petroleum Corporation Ltd, ChemPoint, Enersul Limited Partnership, Georgia Gulf Sulfur Corporation, H.J. Baker, kuwait petroleum corporation, Merck KGaA, motiva enterprises llc, Repsol, Shell Plc., sinopec shanghai petrochemical co., ltd., TCI America, Valero Energy Corporation Incorporating a number of high-end strategies including expansions, mergers & acquisitions, partnerships, joint ventures, collaborations, and others, these market players have become able to heighten their stand in the industry.
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