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Insoluble Sulfur Market Size, Share, Trends and Outlook 2023-2030
Insoluble Sulfur Market-DataM Intelligence 4Market Research
Global Insoluble Sulfur Market reached USD 995.0 million in 2022 and is expected to reach USD 1,303.9 million by 2030, growing with a CAGR of 3.5% during the forecast period 2023-2030.
Insoluble sulfur is created by rapidly cooling the polymer to a low temperature, preventing the ring from returning and resulting in a metastable polymer structure at room temperature. Insoluble sulfur is primarily employed in the tire and automotive sectors, which is a significant market driver for the chemical.
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Market Drivers: Tire Manufacturing Industry Product Demand Rising
The worldwide market for insoluble sulfur is developing due to increased product demand from tire manufacturers due to a rise in on-road automobiles, rapid automotive and manufacturing growth, and growing industrialization. The global market is expected to grow as insoluble sulfur is used to transform raw rubber into full rubber at high temperatures and improve its strength and flexibility.
Due to increased uses in wire, cable, pipeline, and other well-established sectors, the insoluble sulfur market might be profitable throughout the projection period.
Tire production drives demand for basic materials and additives such insoluble sulfur. The International Organisation of Motor Vehicle Manufacturers predicts 2.53 billion tyres in 2020. The increased output of tires reflects the continuing requirement for tire additives, notably insoluble sulfur.
Market Segmentation:
Growing Demand for Regular Grade in Versatile Rubber Producers
Regular grade insoluble sulfur accounts for 45.2% of the worldwide market. Rubber uses insoluble sulfur extensively. Expanding sectors including tire, industrial rubber, and footwear need regular quality insoluble sulfur. As industrial, construction, and car sectors utilize more rubber, the regular grade category grows.
Insoluble Sulfur Market Companies
The major global players include Eastman Chemical Company, Shikoku Chemicals Corporation, Sinorgchem Co., Ltd., Henan Kailun Chemical Co., Ltd, Wuxi Huasheng Rubber Technical Co., Ltd, China Sunshine Chemical Co. Ltd., Sennics Co, Nynas AB, Oriental Carbon & Chemicals Limited and Lions Industries.
By Product
• Non-Oil-Filled Insoluble Sulfur
• Oil-Filled Insoluble Sulfur
By Grade
• Regular Grade
• High Stability Grade
• Special Grade
• High Dispersion Grade
By Application
• Tire Manufacturing
• Footwear
• Industrial Application
• Cable and Wire
• Pipes
• Others
By End-User
• Automotive
• Medical
• Consumer Goods
• Others
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa
Geographical Share:
Asia-Pacific Rubber Manufacturing Industries Expanding in Developing Countries
The Asia-Pacific Insoluble Sulfur Market has grown significantly and will account for more than 56.7% of the market in 2022. Rapid expansion of the rubber manufacturing business in emerging nations such as South Korea, Japan, China, and India. Because of the availability of inexpensive and skilled labor, land for industrial growth, easy regulatory requirements, and advantageous work possibilities with economically strong nations, the region's insoluble sulfur market is increasing.
Recent Developments:
On July 29, 2022, Lion Industries Corporation Bhd's unit Amsteel Mills Sdn Bhd (AMSB) entered into a sale and purchase agreement with Yinson Corporation Sdn Bhd for the proposed acquisition of land together with buildings erected thereon worth RM47.13 million.
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