Sulphur Dioxide Market Anticipated to Grow with High Single Digit CAGR over Forecast Period 2032

Business Industry Insights

Sulphur Dioxide Market: Overview and Dynamics

Sulphur dioxide is a gaseous chemical compound with the formula SO2. The primitive use of Sulphur dioxide is the contact process used in conversion to sulfuric acid. With the increasing global demand scale of sulfuric acid in the fertilizer industry, the Sulphur dioxide market is expected to have a higher single-digit CAGR over the assessment period.

The global market players are consistently adding efforts to come up with innovative sulfuric acid solutions in the production of chemical fertilizers, this has been identified as a recent trend within the industry. For instance, BASF SE, Du-Pont amongst others are witnessed to launch products with more efficiency in the desulfurization process with formic acid. Furthermore, the food & beverage industry is a consumer of Sulphur dioxide products used in alcoholic drinks, preservatives, antioxidants etc.

Based on industry requirements, Sulphur dioxide is used in a variety of applications. Fertilizer industries accounted to hold the highest market share under the Sulphur dioxide market. Furthermore, demand from unconventional industries such as wastewater etc. is fueling the global sulphur dioxide market. Food & Beverages along with the textile industry accounted to hold for over one-fourth of the market share in 2019.

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COVID-19 Impact Insights

COVID-19 pandemic has forced countries to impose lockdowns and strict social distancing measures across the globe, flattening the global economic curve. This in result has disrupted almost every market and Sulphur dioxide market has also been affected largely.

COVID-19 pandemic has presented massive disruptions in the demand-supply equilibrium across multiple industries, leading towards economic losses at a global level. The plant shutdowns in Europe, Asia and North America in the second quarter of 2020 have reduced the production scale of Sulphur dioxide. However, the market is expected to bounce back strongly by first quarter of 2021.

Sulphur Dioxide Market: Key Players

The global market of the Sulphur dioxide is fairly distributed, players have a dominant presence across regions through streamlined distribution networks. BASF SE, Du-Pont, Mosaic, Maaden etc. are amongst the prominent players in Sulphur dioxide market accounting for over 45% of the market revenues.

The demand of the Sulphur and the chlorofluorocarbon with low chemical oxygen demand, low toxic, inflammable, low pungent odour and other associated properties have been witnessed across the regional players.

However, regional clusters including Asia and Africa backing the local manufacturers are presenting challenges to global players offering their products at higher price points which in turn is significantly disturbing the overall Sulphur dioxide market revenues.

Sulphur Dioxide Market: Regional Outlook

Based on the regional split, the report “Sulphur dioxide market” takes into account six prominent regions including North America, Europe, Latin America, East Asia, South Asia and Oceania and Middle East & Africa. Of these, Asia Pacific claims for over half of the consumption due to well-established end-use industries.

Further, India is expected to turn out as the most promising country in Sulphur dioxide market owing to increasing demand from textile and food & beverage industries. North America accounts for nearly 35% of the Sulphur dioxide market share.

Further, Europe is expected to turn out as the most promising region under Sulphur dioxide market is projected to rise demand at an annual growth rate of over 4%.

Segmentation Analysis of Sulphur Dioxide Market

The global Sulphur dioxide market is divided into four major segments: function, form type, end-use, and region.

Based on function, Sulphur dioxide market has been segmented as follows:

  • Preservative
  • Anti-oxidant
  • Refrigerant
  • Reducing agent & solvent

Based on the form type, Sulphur dioxide market has been segmented as follows:

  • Gaseous
  • Liquefied

Based on end-use industry, Sulphur dioxide market has been segmented as follows:

  • Chemical
  • Textile
  • Food & Beverages
  • Pharmaceutical
  • Others

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