Sulfur Dioxide Market 2024-2033 : Demand, Trend, Segmentation, Forecast, Overview And Top Companies

The sulfur dioxide market size has grown steadily in recent years. It will grow from $5.64 billion in 2023 to $5.89 billion in 2024 at a compound annual growth rate (CAGR) of 4.4%. The growth in the historic period can be attributed to the increasing demand for fertilizers, the growth of the chemical industry, particularly in the production of detergents and soaps, rise in demand for food preservation and packaging, growth of the textile industry, particularly in the production of synthetic fibers, and increasing demand for sulfur dioxide as a byproduct of crude oil refining and natural gas processing.

Aug 31, 2024 - 14:06

Sulfur Dioxide Market 2024-2033 : Demand, Trend, Segmentation, Forecast, Overview And Top Companies

Sizing and Forecast
The sulfur dioxide market size has grown steadily in recent years. It will grow from $5.64 billion in 2023 to $5.89 billion in 2024 at a compound annual growth rate (CAGR) of 4.4%. The growth in the historic period can be attributed to the increasing demand for fertilizers, the growth of the chemical industry, particularly in the production of detergents and soaps, rise in demand for food preservation and packaging, growth of the textile industry, particularly in the production of synthetic fibers, and increasing demand for sulfur dioxide as a byproduct of crude oil refining and natural gas processing.

The sulfur dioxide market size is expected to see steady growth in the next few years. It will grow to $7.03 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. The growth in the forecast period can be attributed to growing demand for sustainable fertilizers, growing need for food security and food preservation, rise of the electric vehicle industry, growing demand from biotechnology industry, increasing demand for renewable energy sources, such as wind and solar power, and growing demand for personal care products. Major trends in the forecast period include adoption of digital technologies, such as artificial intelligence and data analytics, adoption of sustainable production methods, emergence of new applications, such as the use of sulfur dioxide in fuel cells and hydrogen production, and development of new technologies, such as membrane separation and electrochemical reduction.

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Segmentation & Regional Insights
The sulfur dioxide market covered in this report is segmented –

1) By Type: Gas, Liquid
2) By Application: Preservatives, Winemaking, Reducing Agent, Refrigerant, Bleaching Agent, Food Additives, Other Applications
3) By End-Use: Chemicals, Textiles, Food And Beverages, Oil And Gas, Pharmaceuticals, Agriculture, Other End-Uses

North America was the largest region in the sulfur dioxide market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sulfur dioxide market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The increasing demand for fertilizer is expected to propel the growth of the sulfur dioxide market going forward. Fertilizer refers to a substance added to the soil to provide one or more plant nutrients essential for plant growth and development. With urbanization and a declining agricultural workforce, there is a need for more intensive and efficient farming practices, including the increased use of fertilizers to boost crop yields. Fertilizers containing sulfuric acid can effectively provide plants with sulfur, a vital nutrient for their growth and development while aiding in the acidification of alkaline soils to improve nutrient availability and enhance plant health. For instance, in December 2023, according to a report published by the International Fertilizer Association (IFA), a France-based fertilizer association that provides plant nutrition solutions, global fertilizer consumption (N + P2O5 + K2O) is projected to increase by 3% to 191.5 million metric tons (Mt) of nutrients in fiscal year 2023, compared to previous years. Moreover, global fertilizer consumption is expected to rise by 2% in FY 2024 to reach 195.4 Mt. Therefore, increasing fertilizer demand drives the sulfur dioxide market.

Key Industry Players
Major companies operating in the sulfur dioxide market are Royal Dutch Shell plc, BASF SE, The Dow Chemical Company, Thermo Fisher Scientific Inc., Nutrien Ltd., Linde plc, Air Liquide S.A., INEOS Group, Sumitomo Chemical Co. Ltd., Andersons Inc, Air Products and Chemicals Inc., Arkema SA , Israel Chemicals Limited, LANXESS AG, Tosoh Corporation, Agilent Technologies Inc., Solvay SA, PerkinElmer Inc., Sigma Aldrich Chemicals Pvt Ltd., Shimadzu Corporation, Hydrite Chemical Co., PVS Chemicals Solutions Inc., Thatcher Chemical Co., Calibration Technologies, LLC, Toshniwal Systems And Instruments Pvt Ltd

The sulfur dioxide market report table of contents includes:

1. Executive Summary

2. Sulfur Dioxide Market Characteristics

3. Sulfur Dioxide Market Trends And Strategies

4. Sulfur Dioxide Market - Macro Economic Scenario

5. Global Sulfur Dioxide Market Size and Growth
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32. Global Sulfur Dioxide Market Competitive Benchmarking

33. Global Sulfur Dioxide Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Sulfur Dioxide Market

35. Sulfur Dioxide Market Future Outlook and Potential Analysis

36. Appendix

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