Global sulfur chemicals market is expected to grow at a substantial rate over the forecast period on account of increasing demand from food industry. Food industry extensively uses sulfur as a food preservative owing to its anti-oxidant property, which reduces the bacterial content in food. Increasing sulfur dioxide utility in wine industry for lengthening wine preservation process is anticipated to complement the global sulfur chemicals demand. Sulfur chemicals excellent oxidizing property makes it an indispensible medicine for curing fungal, bacterial and skin related diseases. Hence, increasing sulfur demand in pharmaceutical industry is projected to be a key factor driving sulfur chemicals market growth over the forecast period. Sulfur provides extra nourishment to fertilizers, owing to insolvency of calcium sulfate in water that prevents absorption by plants, which may boost product demand over the forecast period. Moreover, growing sulfur utility in agriculture industry for manufacturing fertilizers is expected to further drive the global sulfur chemicals market in the upcoming years. Growing consumer awareness for cleanliness coupled with increasing sulfur utilization as an anti-bacterial agent in detergents are predicted to have a positive impact on sulfur chemicals market. Sulfur chemicals have widely been used in oil & gas industry during oil refining process. This trend is expected to augment sulfur chemicals market growth over the forecast period. Additionally, rising sulfur application in construction industry for plaster production is further predicted to drive global market demand.
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However, sulfuric acid reaction with the atmosphere leads to acid rains and causes respiratory & health hazards. This can be a major factor restraining sulfur chemicals market growth over the forecast horizon.
Asia Pacific is expected to emerge as a major player in regional market with highest sulfur chemicals demand in by China, India, Malaysia and Indonesia. Rapid industrialization coupled with increasing disposable income in emerging economies such as China and India is anticipated to drive Asia Pacific sulfur chemicals market growth over the forecast period. North America sulfur chemicals market is projected to witness significant growth in the upcoming years owing to increasing fertilizer consumption in the region. Middle East, Africa and Latin America are predicted to observe increasing sulfur chemicals demand over the forecast horizon.
Key players operating in sulfur chemicals market includes Indian Oil Corporation Limited, Eastman Chemical Company, Valero, Hydrite Chemical Company and Georgia Gulf Sulfur Corporation.
Information Source: Grand View Research