Pune, India, Feb. 21, 2022 (GLOBE NEWSWIRE) -- The growing demand for fertilizers in the plantation of sugarcane and oil palm is predicted to boost the sulfur market growth during the forecast period, states Fortune Business Insights in a report, titled “Sulfur Market Size, Share & Industry Analysis By End-Use Industry (Agro-chemicals, Chemical, Metal, Petroleum, Rubber, Others) Others and Regional Forecast, 2022-2029” the increasing consumption of rubber is likely to enable healthy growth of the market in the forthcoming years.
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The Report Lists the Key Companies in the Sulfur Market:
- SINOPEC
- Oxbow Corporation
- Marathon Petroleum Company LLC
- Saudi Aramco
- GAZPROM
- PVS Chemicals
- Qatar Petroleum
- Abu Dhabi National Oil Company
- Tengizchevroil LLP
- Chemtrade
Completive Landscape:
Construction of New Sulphur Pipeline by ADNOC to Accelerate Growth Prospects
ADNOC Sour Gas, a market leader in sour gas field development, and a major international sulfur producer announced that it has started to construct a new Sulphur pipeline, to carry molten Sulphur produced by its Shah field sour gas operations, as it maximizes the value of its resources. The supplementary pipeline will carry the liquid Sulphur from the main processing plant to the granulation Sulphur plant located 11 kilometers away, where the Sulphur is granulated, stockpiled, and finally transported, via rail, to a Sulphur handling terminal at ADNOC’s Ruwais Downstream hub.
The construction of the new Sulphur pipeline is expected to aid the sulfur market trends due to the production expansion to cater to the demand of sour gas, thus, boosting the existential operations and flexibility in processes. Moreover, the growing deals and partnerships among major companies are expected to spur opportunities for the sulfur market share in the forthcoming years.
For instance, ACWA Power, Saudi Aramco, and Air Products signed a partnership agreement to form an over $8 Billion Gasification/Power joint venture (JV) located at Jazan Economic City (JEC) in Saudi Arabia. The 25-year contract will include the supply of feedstock by Saudi Aramco to the JV, and the JV will produce power, hydrogen and other utilities for Saudi Aramco. Whereas Air Products will own at least 55 percent of the JV, with Saudi Aramco and ACWA Power owning the balance.
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Market Restraint:
Adverse Effects of Sulfur to Restrict Market Revenue
The harmful effects of sulfur and its derivatives is a key factor predicted to dwindle the growth of the market during the forecast period. Sulfur derivatives such as sulfur dioxide and hydrogen sulfide are known for their adverse effects on the environment as well as humans and animals. The inhalation and consumption of sulfur can cause heart damage, neurological effects, damage to the immune system, effect on eyesight, suffocation, and others. These factors together are predicted to dampen the sulfur market size. However, the growing application of sulfur in insecticides, and fungicides are expected to encourage the growth of the market
Regional Analysis:
Rising Production of Metal to Spur Opportunities for the Market in North America
Geographically, the global sulfur market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the market during the forecast period owing to the rising demand for sulfur in the fertilizer and rubber processing industries in emerging nations such as China, India, and others.
Moreover, increasing demand fertilizers in plantations of oil palm, rubber and sugarcane is expected to have a tremendous impact on the market in Asia Pacific. North America is likely to hold the largest market share due to the growing demand for Sulfur in the production and leaching of metals form oxides.
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