The Business Research company’s Global Sulfur Market Forecast to Reach $25.73 Billion By 2028 With 7.9% Annual Growth
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The sulfur market will increase from $17.44 billion in 2023 to $18.97 billion in 2024, reflecting a CAGR of 8.8%. Fertilizer production, chemical manufacturing, petroleum refining, mining industry demand, and pharmaceuticals are key contributors to this growth.
How Big Is the Global Sulfur Market Expected to Grow, and What Is Its Annual Growth Rate?
The market size is expected to grow steadily, reaching $25.73 billion by 2028 at a CAGR of 7.9%. Key drivers include rising demand in agriculture and fertilizers, environmental regulations, chemical industry expansion, energy sector growth, and advances in healthcare technology. Major trends involve sulfur use in agriculture, pharmaceuticals, vulcanization, sulfur deposit exploration, and sulfur-based battery materials.
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What Is Driving the Growth of the Sulfur Market?
The market is expected to grow due to rising demand from mining and emerging markets. Sulfur is a vital component in various mining explosives, especially in coal extraction, owing to its favorable properties like detonation velocity and water resistance. According to a report from the United States Geological Survey, U.S. mines yielded non-fuel mineral commodities valued at approximately $98.2 billion in 2022, marking a $3.6 billion increase from 2021. The overall production value of industrial minerals in the U.S. for 2022 was estimated at $63.5 billion, representing around 65% of the total mine production value. This demand from the mining sector is expected to propel the growth of the market.
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Which Leading Companies Are Driving The Growth Of The Sulfur Market Share?
Major companies operating in the 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
What Are The Key Trends Driving The Growth Of The Sulfur Market Size?
The sulfur industry is increasingly utilizing satellite imagery to monitor operations, a significant trend in the sector. Satellite images are essential tools for supporting sulfur projects, aiding in infrastructure planning, environmental impact studies, grassroots exploration, and ground access.
How Is the Global Sulfur Market Segmented?
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: The Leading Region in the Sulfur Market
Asia-Pacific was the largest region in the market in 2023. The regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is the Sulfur Market?
Sulfur refers to the mining of sulfur and its compounds, which are essential in the production of items such as black gunpowder, matches, and fireworks.
The Sulfur Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Sulfur Market Report: Trends, Opportunities, Strategies, and More
The Sulfur Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into sulfur market size, sulfur market drivers and trends, sulfur market major players, sulfur competitors’ revenues, sulfur market positioning, and sulfur market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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Sulfur Mining Global Market Report 2019
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Oliver Guirdham
The Business Research Company
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