Elemental Sulfur Market -New Research Report Announced with business priorities in order to assist companies to realign their business strategies.
Los Angeles, CA -- (SBWIRE) -- 01/22/2020 -- IIn a recent report by QY Research, titled, "Global Elemental Sulfur Market Insights, Forecast to 2025" analysts have provided an in-depth understanding of the growing elemental sulfur market. This e elemental sulfur market was valued at US$ 8557.5 mn in 2018. QY Research predicts that the market size will increase to US$10260 mn by the end of 2015, growing at a rate of CAGR of 2.01%.
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Agrochemical industry holds the largest share in the global elemental sulfur market as it is used to produce insecticides, detergents, fertilizers, disinfectants, and pharmaceuticals. Sulfur is also known for its good bacterial defence molecules. Therefore elemental sulfur is majorly used in agrochemical industry. Thus, the rise of the agrochemical industry will have a direct impact on the rise of the global elemental sulfur market during the forecast period.
Elemental Sulphur Market to Expand as Demand for Sulfuric Acid in Automotive Industry Increases
Sulfur is mainly used in manufacturing process of sulfuric acid, carbon sulphides, sulfhydryl, sulphites and sulphurous gas. Amongst these, sulfuric acid is likely to be the key driver for element sulfur market in the coming years. Sulfuric acid is commonly used in automotive industry. It is used as an electrolyte in car batteries, which helps an automobile to work efficiently. Sulfuric acid used in cars not only helps the car to start but also helps the car batteries to recharge as the car is running. Moreover, rise in electric and hybrid vehicles have boosted the sulfuric acid market as it is used as a key element in manufacturing and running batteries.
Sulfuric Acid is also used to manage water waste activities it helps in pH neutralization. Its high effectiveness and strong acidic nature has won it an indisputable spot in waste water treatment plants. Other uses of sulfuric acid is to manufacture phosphatic fertilizer, oil refining, and mineral extraction. Increasing industrialization and developing economies have significantly given a rise to the sulfur market and is anticipated to grow more in future.
China to Lead the Elemental Sulfur Market due to the Increase in Sulfur Mining
The elemental sulfur market is segmented into United States, Europe and China. It is extracted by the method known as Frasch method, where hot compressed air is used in concentric pipes to create pressure and foam. This method is mostly carried out in China. Therefore, it is anticipated that China will be the largest producers of elemental sulfur. Also rising agricultural industry in China will boost the elemental sulfur market.
Competitive Analysis for the Elemental Sulfur Market
Major key players for the elemental sulfur market are Gazprom, Abu Dhabi National Oil Company, Valero Energy Corporation, Tengizchevroil, CNPC, Exxon Mobile, Suncor, Sinopec Corp., Montana Sulfur & Chemical Company and Jordan Sulfur.
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