The insoluble sulfur market size is expected to see strong growth in the next few years. It will grow to $1.35 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to green initiatives in rubber industry, rise in automotive production, advancements in vulcanization processes, shift towards high-performance rubber products, stringent environmental regulations. Major trends in the forecast period include increasing demand in end-use industries, technological advancements in production, global economic factors, market consolidation and strategic alliances, fluctuations in raw material prices.
The insoluble sulfur market size has grown strongly in recent years. It will grow from $1.02 billion in 2023 to $1.08 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to the demand from tire manufacturing, growth in the automotive industry, a focus on rubber quality, global economic trends, and the availability of raw materials. These factors have contributed to the expansion of the industry during that time.
The insoluble sulfur market size is expected to see strong growth in the next few years. It will grow to $1.35 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The anticipated growth in the forecast period can be attributed to green initiatives within the rubber industry, an increase in automotive production, advancements in vulcanization processes, a shift towards high-performance rubber products, and the enforcement of stringent environmental regulations. Major trends expected in this period include rising demand in end-use industries, technological advancements in production processes, the influence of global economic factors, market consolidation, strategic alliances, and fluctuations in raw material prices.
The increasing number of on-road vehicles is expected to drive the growth of the insoluble sulfur market. Insoluble sulfur is a critical component in tire manufacturing, enhancing tire quality and durability. With a growing number of on-road vehicles, especially with the registration of new and hybrid vehicles, there is a rising demand for tires and, consequently, for insoluble sulfur. For example, the Government of Jersey reported a significant number of automobile registrations in 2021, indicating a growing market for insoluble sulfur driven by the increasing number of vehicles on the road.
The anticipated rise in demand from the tire industry is set to drive the growth of the insoluble sulfur market in the forthcoming years. The tire industry encompasses the design, production, distribution, and sale of tires for diverse vehicles, including automobiles, trucks, motorcycles, bicycles, and specialized vehicles. Insoluble sulfur plays a crucial role in this sector by enhancing the durability and performance of rubber compounds used in tires. Its application leads to improved resistance against heat, aging, and weathering, thereby enhancing tire quality. For instance, as per the US Tire Manufacturers Association in March 2021, tire shipments in the United States were projected to increase from 335.2 million units in 2021 to 340.2 million units in 2022. Consequently, the growing demand stemming from the tire industry is expected to act as a catalyst in propelling the growth of the insoluble sulfur market.
In the insoluble sulfur market, product innovation stands as a prominent trend driving industry growth. Key players in this sector are dedicated to crafting novel solutions to fortify their market presence. One notable example occurred in March 2021, when NTCS Group, a granulated sulfur manufacturer based in Uzbekistan, introduced polymer insoluble sulfur specifically designed for rubber vulcanization. This innovative product surpasses existing analogs in terms of quality, boasting a sulfur content ranging from 97% to 98% in its granulated form.
Major companies in the insoluble sulfur market, such as Oriental Carbon and Chemicals Limited, are expanding their capacities to strengthen their presence in the tire industry. This expansion aligns with Oriental Carbon and Chemicals Limited's goal of meeting the growing demands of major tire manufacturers expanding their operations in Asia and other high-growth regions. For example, in November 2021, Oriental Carbon and Chemicals Limited, an India-based manufacturer of insoluble sulfur, announced plans to increase its capacity. The company aims to raise its insoluble sulfur capacity by 11,000 metric tons in two stages of 5,500 metric tons each. The first phase, which includes a 5,500 metric tons insoluble sulfur line and a 42,000 metric tons sulfuric acid line in Dharuhera, is expected to be completed by November 2021. Upon completion, Oriental Carbon and Chemicals Limited is confident in its ability to secure new orders due to its strong relationships with longstanding clients. With its prominent position in the industry, the company is well-positioned to achieve sustainable and profitable long-term growth.
In November 2021, One Rock Capital Partners, LLC, a US-based private equity firm, acquired the tire additives business of Eastman Chemical Company for an undisclosed amount. This strategic acquisition is part of One Rock's efforts to provide the necessary strategic and operational resources for the transition of the business from a corporate subsidiary to a strong, independent firm. The acquired business is expected to operate under the name Flexsys. Eastman Chemical Company, the seller, is a US-based company operating in the chemical industry, particularly in the insoluble sulfur market.
Major companies operating in the insoluble sulfur market report are Eastman Chemical Company, Grupa Azoty S.A., KUMHO PETROCHEMICAL, China Sunsine Chemical Holdings Limited, Nynas AB, Rongcheng Chemical General Factory, Willing New Materials Technology Co. Ltd., Oriental Carbon and Chemicals Limited, Henan Kailun Chemical Co. Ltd., Shikoku Chemical Industry Co. Ltd., Lions Industries s.r.o, Tianjin Kemai Chemical Co. Ltd., Hubei Xiangyun Chemical Co. Ltd., Zhengzhou Double Vigour Chemical Product Co. Ltd., Ningbo Actmix Rubber Chemicals Co. Ltd., Shanghai Shangyi Chemical Technology Company, Sennics Co. Ltd., Eastar Chemical Corporation, Luoyang Sunrise Industrial Co. Ltd., Weifang Jiahong Chemical Co. Ltd., Changde Dingyuan Chemical Industrial Limited, Leader Technologies Co. Ltd., Kemai Chemical Co. Ltd., Puyang Willing Chemicals Co. Ltd., Jiangxi Shengchang Technology Co. Ltd., Hebi Hengli Chemical Co. Ltd., Jingcheng Chemical Co. Ltd., Chongqing Huayi Chemical Co. Ltd., Jining Fortune Biotech Co. Ltd., Wuhan Jiehong International Trading Co. L. Asia-Pacific was the largest region in the insoluble sulfur market in 2023. The regions covered in the insoluble sulfur market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The primary products of insoluble sulfur are non-oil-filled insoluble sulfur and oil-filled insoluble sulfur, available in regular grades, high dispersion grades, high stability grades, and special grades for various applications including tire manufacturing, footwear, industrial applications, cable and wire, pipes, and others. These products are utilized by industries such as automotive, medical, consumer goods, and others.
The insoluble sulfur market size has grown strongly in recent years. It will grow from $1.02 billion in 2023 to $1.08 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to demand from tire manufacturing, automotive industry growth, focus on rubber quality, global economic trends, raw material availability.
The countries covered in the insoluble sulfur market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The insoluble sulfur market consists of sales of barium sulfate (BaSO4) and lead sulfate (PbSO4). Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The insoluble sulfur market size has grown strongly in recent years. It will grow from $1.02 billion in 2023 to $1.08 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to the demand from tire manufacturing, growth in the automotive industry, a focus on rubber quality, global economic trends, and the availability of raw materials. These factors have contributed to the expansion of the industry during that time.
The insoluble sulfur market size is expected to see strong growth in the next few years. It will grow to $1.35 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The anticipated growth in the forecast period can be attributed to green initiatives within the rubber industry, an increase in automotive production, advancements in vulcanization processes, a shift towards high-performance rubber products, and the enforcement of stringent environmental regulations. Major trends expected in this period include rising demand in end-use industries, technological advancements in production processes, the influence of global economic factors, market consolidation, strategic alliances, and fluctuations in raw material prices.
The increasing number of on-road vehicles is expected to drive the growth of the insoluble sulfur market. Insoluble sulfur is a critical component in tire manufacturing, enhancing tire quality and durability. With a growing number of on-road vehicles, especially with the registration of new and hybrid vehicles, there is a rising demand for tires and, consequently, for insoluble sulfur. For example, the Government of Jersey reported a significant number of automobile registrations in 2021, indicating a growing market for insoluble sulfur driven by the increasing number of vehicles on the road.
The anticipated rise in demand from the tire industry is set to drive the growth of the insoluble sulfur market in the forthcoming years. The tire industry encompasses the design, production, distribution, and sale of tires for diverse vehicles, including automobiles, trucks, motorcycles, bicycles, and specialized vehicles. Insoluble sulfur plays a crucial role in this sector by enhancing the durability and performance of rubber compounds used in tires. Its application leads to improved resistance against heat, aging, and weathering, thereby enhancing tire quality. For instance, as per the US Tire Manufacturers Association in March 2021, tire shipments in the United States were projected to increase from 335.2 million units in 2021 to 340.2 million units in 2022. Consequently, the growing demand stemming from the tire industry is expected to act as a catalyst in propelling the growth of the insoluble sulfur market.
In the insoluble sulfur market, product innovation stands as a prominent trend driving industry growth. Key players in this sector are dedicated to crafting novel solutions to fortify their market presence. One notable example occurred in March 2021, when NTCS Group, a granulated sulfur manufacturer based in Uzbekistan, introduced polymer insoluble sulfur specifically designed for rubber vulcanization. This innovative product surpasses existing analogs in terms of quality, boasting a sulfur content ranging from 97% to 98% in its granulated form.
Major companies in the insoluble sulfur market, such as Oriental Carbon and Chemicals Limited, are expanding their capacities to strengthen their presence in the tire industry. This expansion aligns with Oriental Carbon and Chemicals Limited's goal of meeting the growing demands of major tire manufacturers expanding their operations in Asia and other high-growth regions. For example, in November 2021, Oriental Carbon and Chemicals Limited, an India-based manufacturer of insoluble sulfur, announced plans to increase its capacity. The company aims to raise its insoluble sulfur capacity by 11,000 metric tons in two stages of 5,500 metric tons each. The first phase, which includes a 5,500 metric tons insoluble sulfur line and a 42,000 metric tons sulfuric acid line in Dharuhera, is expected to be completed by November 2021. Upon completion, Oriental Carbon and Chemicals Limited is confident in its ability to secure new orders due to its strong relationships with longstanding clients. With its prominent position in the industry, the company is well-positioned to achieve sustainable and profitable long-term growth.
In November 2021, One Rock Capital Partners, LLC, a US-based private equity firm, acquired the tire additives business of Eastman Chemical Company for an undisclosed amount. This strategic acquisition is part of One Rock's efforts to provide the necessary strategic and operational resources for the transition of the business from a corporate subsidiary to a strong, independent firm. The acquired business is expected to operate under the name Flexsys. Eastman Chemical Company, the seller, is a US-based company operating in the chemical industry, particularly in the insoluble sulfur market.
Major companies operating in the insoluble sulfur market report are Eastman Chemical Company, Grupa Azoty S.A., KUMHO PETROCHEMICAL, China Sunsine Chemical Holdings Limited, Nynas AB, Rongcheng Chemical General Factory, Willing New Materials Technology Co. Ltd., Oriental Carbon and Chemicals Limited, Henan Kailun Chemical Co. Ltd., Shikoku Chemical Industry Co. Ltd., Lions Industries s.r.o, Tianjin Kemai Chemical Co. Ltd., Hubei Xiangyun Chemical Co. Ltd., Zhengzhou Double Vigour Chemical Product Co. Ltd., Ningbo Actmix Rubber Chemicals Co. Ltd., Shanghai Shangyi Chemical Technology Company, Sennics Co. Ltd., Eastar Chemical Corporation, Luoyang Sunrise Industrial Co. Ltd., Weifang Jiahong Chemical Co. Ltd., Changde Dingyuan Chemical Industrial Limited, Leader Technologies Co. Ltd., Kemai Chemical Co. Ltd., Puyang Willing Chemicals Co. Ltd., Jiangxi Shengchang Technology Co. Ltd., Hebi Hengli Chemical Co. Ltd., Jingcheng Chemical Co. Ltd., Chongqing Huayi Chemical Co. Ltd., Jining Fortune Biotech Co. Ltd., Wuhan Jiehong International Trading Co. L. Asia-Pacific was the largest region in the insoluble sulfur market in 2023. The regions covered in the insoluble sulfur market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The primary products of insoluble sulfur are non-oil-filled insoluble sulfur and oil-filled insoluble sulfur, available in regular grades, high dispersion grades, high stability grades, and special grades for various applications including tire manufacturing, footwear, industrial applications, cable and wire, pipes, and others. These products are utilized by industries such as automotive, medical, consumer goods, and others.
The insoluble sulfur market size has grown strongly in recent years. It will grow from $1.02 billion in 2023 to $1.08 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to demand from tire manufacturing, automotive industry growth, focus on rubber quality, global economic trends, raw material availability.
The countries covered in the insoluble sulfur market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The insoluble sulfur market consists of sales of barium sulfate (BaSO4) and lead sulfate (PbSO4). Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Table of Contents
1. Executive Summary2. Insoluble Sulfur Market Characteristics3. Insoluble Sulfur Market Trends and Strategies32. Global Insoluble Sulfur Market Competitive Benchmarking33. Global Insoluble Sulfur Market Competitive Dashboard34. Key Mergers and Acquisitions in the Insoluble Sulfur Market
4. Insoluble Sulfur Market - Macro Economic Scenario
5. Global Insoluble Sulfur Market Size and Growth
6. Insoluble Sulfur Market Segmentation
7. Insoluble Sulfur Market Regional and Country Analysis
8. Asia-Pacific Insoluble Sulfur Market
9. China Insoluble Sulfur Market
10. India Insoluble Sulfur Market
11. Japan Insoluble Sulfur Market
12. Australia Insoluble Sulfur Market
13. Indonesia Insoluble Sulfur Market
14. South Korea Insoluble Sulfur Market
15. Western Europe Insoluble Sulfur Market
16. UK Insoluble Sulfur Market
17. Germany Insoluble Sulfur Market
18. France Insoluble Sulfur Market
19. Italy Insoluble Sulfur Market
20. Spain Insoluble Sulfur Market
21. Eastern Europe Insoluble Sulfur Market
22. Russia Insoluble Sulfur Market
23. North America Insoluble Sulfur Market
24. USA Insoluble Sulfur Market
25. Canada Insoluble Sulfur Market
26. South America Insoluble Sulfur Market
27. Brazil Insoluble Sulfur Market
28. Middle East Insoluble Sulfur Market
29. Africa Insoluble Sulfur Market
30. Insoluble Sulfur Market Competitive Landscape and Company Profiles
31. Insoluble Sulfur Market Other Major and Innovative Companies
35. Insoluble Sulfur Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Insoluble Sulfur Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on insoluble sulfur market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
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- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
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- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
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- Report will be updated with the latest data and delivered to you with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for insoluble sulfur? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered:1) By Product: Non-Oil-Filled Insoluble Sulfur; Oil-Filled Insoluble Sulfur
2) By Grade: Regular Grades; High Dispersion Grades; High Stability Grades; Special Grades
3) By Application: Tire Manufacturing; Footwear; Industrial Application; Cable and Wire; Pipe; Other Applications
4) By End-user: Automotive; Medical; Consumer Goods; Other End-Users
Key Companies Mentioned: Eastman Chemical Company; Grupa Azoty S.A.; KUMHO PETROCHEMICAL; China Sunsine Chemical Holdings Limited; Nynas AB
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Eastman Chemical Company
- Grupa Azoty S.A.
- KUMHO PETROCHEMICAL
- China Sunsine Chemical Holdings Limited
- Nynas AB
- Rongcheng Chemical General Factory
- Willing New Materials Technology Co. Ltd.
- Oriental Carbon and Chemicals Limited
- Henan Kailun Chemical Co. Ltd.
- Shikoku Chemical Industry Co. Ltd.
- Lions Industries s.r.o
- Tianjin Kemai Chemical Co. Ltd.
- Hubei Xiangyun Chemical Co. Ltd.
- Zhengzhou Double Vigour Chemical Product Co. Ltd.
- Ningbo Actmix Rubber Chemicals Co. Ltd.
- Shanghai Shangyi Chemical Technology Company
- Sennics Co. Ltd.
- Eastar Chemical Corporation
- Luoyang Sunrise Industrial Co. Ltd.
- Weifang Jiahong Chemical Co. Ltd.
- Changde Dingyuan Chemical Industrial Limited
- Leader Technologies Co. Ltd
- Kemai Chemical Co. Ltd.
- Puyang Willing Chemicals Co. Ltd.
- Jiangxi Shengchang Technology Co. Ltd.
- Hebi Hengli Chemical Co. Ltd.
- Jingcheng Chemical Co. Ltd.
- Chongqing Huayi Chemical Co. Ltd.
- Jining Fortune Biotech Co. Ltd.
- Wuhan Jiehong International Trading Co. L
Methodology
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