Sulfur is utilized in the manufacturing processes of sulfurous gas, sulfite, sulfuric and sulphydric acids, carbon sulfides, and others. Also, it used in the production of black gunpowder, insecticides, pharmaceuticals, detergents, dyestuffs, disinfectants, and also in the vulcanization of rubber. Numerous sulfurous items are utilized as additives in scentless flammable gases, so that the leakage can be identified through the trademark aroma of the element.
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.
The increasing demand from the fertilizer manufacturing sector, coupled with increasing usage of sulfur for vulcanization of rubber are the main factors driving the growth of the global sulfur industry. Moreover, owing to the fall of crude prices, refineries across the globe are engaging in capacity expansion and other brownfield activities, leading to higher demand for sulfur. The demand for sulfur is also anticipated to be driven by the increasing usage of elemental sulfur as a major ingredient in the vulcanization process implemented to manufacture rubber. However, the enactment of stringent environmental regulations restricting the usage of sulfur and the high costs associated with its mining, are the key factors hindering the sulfur market growth.
The sulfur market is expected to register a CAGR of 3.36%, during the forecast period, 2019 – 2024. Major factors driving the growth of the sulfur market are the rising demand from the fertilizer manufacturing sector and increasing usage of sulfur for the vulcanization of rubber. On the flipside, stringent environmental regulations regarding emissions are expected to hinder the market growth.
