Global Sulfur Market 2017-2021
Sulfur is a non-metallic, multivalent, and tasteless naturally occurring element. It is usually lemon yellowish in color and found in various mineral springs, water bodies, iron pyrites, gypsum, zinc blende, Epsom salts, barites, and other minerals and ores. Sulfate and sulfide minerals are the most available sources of sulfur on Earth. Apart from mining operations, sulfur is also produced as a byproduct during several chemical, crude oil, and petrochemical refining operations such as tar sands recovery, petroleum refining, coking and metallurgical plants, and heavy oil and natural gas processing. Sulfur is one of the most abundantly available natural elements found on Earth. It is an important nutrient for animals, human beings, and crops. It is one of the key basic chemicals that is widely used as a raw material in the chemical industry. It is used in the production of sulfuric acid as a derivative, which is further used in several industrial and chemical processes, especially in the production of phosphate fertilizers.
Technavio’s analysts forecast the global sulfur market to grow at a CAGR of 3.69% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global sulfur market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price of the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Sulfur Market 2017-2021
Technavio recognizes the following companies as the key players in the global sulfur market: Abu Dhabi National Oil Company, Chemtrade Logistics, China Petroleum & Chemical Corporation (Sinopec), Enersul Limited Partnership, and Gazprom
Other Prominent Vendors in the market are: Marathon Petroleum Corporation, National Est. for Agricultural & Industrial Sulphur, Oxbow Corporation, and Royal Dutch Shell.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Rising applications in medical and healthcare sector. Sulfur is widely used in the healthcare and medical sectors as well as therapeutic applications mainly due to its low toxicological profile and promising therapeutic effects. It is the third most available mineral found in human beings by body weight. Various amino-acids which contain sulfur are cystine, methionine, homocysteine, cysteine, homocysteine, and taurine. Nutritional supplements are given to vegans, children, athletes, and HIV patients to mitigate SAA deficiency.”
According to the report, one of the major drivers for this market is Granting subsidies for sale of fertilizers in developing economies. In most of the countries in sub-Saharan Africa and Southeast Asia, the market prices of fertilizers are strictly regulated by implementing the levy of duties and granting subsidies. Agrarian economies like India and Bangladesh are deficient in potash reserves and phosphate rocks and, therefore, import fertilizers or their feedstocks. This often results in huge price disruptions in the market and affects the purchase of fertilizers by farmers. Most of these economies highly rely on the retail price administration of fertilizers and also incentivize fertilizer manufacturers, sometimes to the extent of 50%-60% to ensure affordability to farmers and promote the smooth flow of crop cultivation. This helps the countries achieve food security.
Further, the report states that one of the major factors hindering the growth of this market is Growing use of alkaline-based process technology. Papermaking under acid conditions was restricted by corrosion failure and was unsuccessful in producing robust products. The neutral/alkaline papermaking activity in Europe was stimulated by the need to recover and recycle secondary fibers as well as reduce water consumption and abrasiveness of the process due to mineral fillers such as china clays. In North America, the neutral/alkaline papermaking process was exercised to manufacture more permanent paper products, reuse a significant amount of processed water, and significantly reduce the total cost.
Abu Dhabi National Oil Company, Chemtrade Logistics, China Petroleum & Chemical Corporation (Sinopec), Enersul Limited Partnership, Gazprom, Marathon Petroleum Corporation, National Est. for Agricultural & Industrial Sulphur, Oxbow Corporation, and Royal Dutch Shell.
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