The Insoluble Sulfur Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Insoluble Sulfur Global Market Report 2024, The insoluble sulfur market size has grown strongly in recent years. It will grow from $1.02 billion in 2023 to $1.08 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to demand from tire manufacturing, automotive industry growth, focus on rubber quality, global economic trends, raw material availability.
The insoluble sulfur market size is expected to see strong growth in the next few years. It will grow to $1.35 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to green initiatives in rubber industry, rise in automotive production, advancements in vulcanization processes, shift towards high-performance rubber products, stringent environmental regulations. Major trends in the forecast period include increasing demand in end-use industries, technological advancements in production, global economic factors, market consolidation and strategic alliances, fluctuations in raw material prices.
The increasing number of on-road vehicles is expected to boost the growth of the insoluble sulfur market going forward. An on-road vehicle refers to an automobile that is self-propelled and intended for usage on a road. Insoluble sulfur is a necessary raw material for tire manufacturing since it increases tire quality, wearability, and resistance to aging and fatigue; hence, the increasing number of on-road vehicles is expected to boost the insoluble sulfur market. For instance, according to a report published by the Government of Jersey, a UK-based organization responsible for the governance of the biggest of the Channel Islands, the Driver and Vehicle Standards (DVS) registration listed 127,661 automobiles as of 2021.Also, around 5,181 new registrations and 1,775 hybrid vehicles altogether were registered in 2021. Therefore, the increasing number of on-road vehicles is driving the growth of the insoluble sulfur market.
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The insoluble sulfur market covered in this report is segmented –
1) By Product: Non-Oil-Filled Insoluble Sulfur, Oil-Filled Insoluble Sulfur
2) By Grade: Regular Grades, High Dispersion Grades, High Stability Grades, Special Grades
3) By Application: Tire Manufacturing, Footwear, Industrial Application, Cable And Wire, Pipe, Other Applications
4) By End-User: Automotive, Medical, Consumer Goods, Other End-Users
Top Major Players:
Eastman Chemical Company
Grupa Azoty S.A.
KUMHO PETROCHEMICAL
China Sunsine Chemical Holdings Limited
Nynas AB
Asia-Pacific was the largest region in the insoluble sulfur market in 2023.
Major companies operating in the insoluble sulfur market are adopting capacity expansion, such as Oriental Carbon and Chemicals Limited, to increase their foothold in the tire industry. Oriental Carbon and Chemicals Limited's expansion ambitions are consistent with the company's objective of meeting the demands of big tire manufacturers growing their operations in Asia and other high-growth countries. For instance, in November 2021, Oriental Carbon and Chemicals Limited, an India-based manufacturing company of insoluble sulfur, announced capacity expansion. The capacity for insoluble sulfur will be increased by 11,000 metric tons in two stages of 5,500 metric tons, respectively. Phase one of Dharuhera's 5,500 metric tons of insoluble sulfur line and 42,000 metric tons of sulfuric acid line is anticipated to be completed in November 2021. With the completion of the capacity increase, Oriental Carbon and Chemicals Limited is confident about winning new orders based on long-standing client relationships. With a leading position in the industry, Oriental Carbon and Chemicals Limited is well-positioned to generate sustainable and profitable long-term growth.
The insoluble sulfur market report table of contents includes:
1. Executive Summary
2. Insoluble Sulfur Market Characteristics
3. Insoluble Sulfur Market Trends And Strategies
4. Insoluble Sulfur Market - Macro Economic Scenario
5. Global Insoluble Sulfur Market Size and Growth
….
32. Global Insoluble Sulfur Market Competitive Benchmarking
33. Global Insoluble Sulfur Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Insoluble Sulfur Market
35.Insoluble Sulfur Market Future Outlook and Potential Analysis
36. Appendix
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