Insoluble Sulfur Market to Grow with a CAGR of 5.33% through 2028
Increasing demand from tire
manufacturing & footwear sector are factors driving the Global Insoluble
Sulfur Market in the forecast period 2024-2028.
According to
TechSci Research report, “Insoluble Sulfur Market – Global Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2028”, the
Global Insoluble Sulfur Market stood at USD 298.45 thousand tonnes in 2022 and
is anticipated to grow with a CAGR of 5.33% in the forecast period, 2024-2028. Insoluble
sulfur represents a unique form of elemental sulfur characterized by its
limited solubility in various solvents and rubber formulations. Its primary
utilization resides within the realm of the rubber industry, where it assumes
the role of a vulcanizing agent. This transformative procedure imbues rubber
with heightened durability and thermal resilience. The integration of insoluble
sulfur offers a range of advantages over the conventional soluble sulfur
approach in rubber compounding, ultimately enhancing the quality and overall
performance of the final products. The surge in insoluble sulfur demand can be
attributed to the expansion of the rubber sector, amplified focus on tire
safety and performance, progressive innovations in rubber compounding
techniques, and the transition toward sustainable and environmentally conscious
solutions. With the worldwide requisition for top-tier rubber goods on the
upswing, insoluble sulfur assumes a pivotal role in fulfilling the standards
set across diverse industries like automotive, manufacturing, and
infrastructure development.
Moreover,
the insoluble sulfur market is experiencing a surge in demand from the tire
manufacturing sectors, propelled by the escalating number of vehicles on the
roads worldwide, rapid expansion within the automotive and manufacturing
sectors, and the growing pace of industrialization. A key driving force for the
market's growth is the heightened utilization of insoluble sulfur in the
process of converting raw rubber into its final form, accomplished at elevated
temperatures to enhance the rubber's strength and flexibility. This trend is
expected to fuel the global market's growth trajectory over the forecast
period.
Additionally,
the versatile nature of insoluble sulfur is finding increasing applications in
diverse industries, including wire production, cable manufacturing, pipelines,
and other sectors characterized by well-established companies. This
diversification of applications not only underscores the adaptability of
insoluble sulfur but also presents lucrative opportunities for the market's
expansion throughout the projected timeframe. Therefore, the upward trajectory
of the Insoluble Sulfur market inherently contributes to the advancement of the
Insoluble Sulfur market.
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Furthermore, the
product has several characteristics, which make it suitable for a range of
applications, such as in the manufacturing of insulating material for wires
& cables and for pipe and tire manufacturing. The product is added in
desired volumes across these materials to improve resistance to aging &
fatigue and to enhance the overall product quality. Major market
participants have been investing heavily in research activities to capture a
larger market share on a global scale. The intense competition has led to
product innovation, in terms of quality, competitive pricing, etc.
The Global Insoluble
Sulfur Market is segmented into grade, application, regional distribution, and
company
Based on its grade,
the regular grade sector took the lead as the prevailing force in the global
Insoluble Sulfur market. This prominence can be ascribed to the widespread
application of the product across various facets of rubber compound production.
Furthermore, the standard-grade variant primarily pertains to the form devoid
of any additive amalgamations and is widely recognized as the foundational type
of commercially available insoluble sulfur. Players throughout the industry
engage in the manufacturing of the regular form, which assumes a pivotal role
as a vulcanizing agent. It is noteworthy that as per EC regulations, the
substance holds a non-hazardous classification. However, individuals handling
the substance within workplace environments are advised to adhere to
preliminary safety protocols.
Moreover, in the
projected timeframe, a significant segment of the market's pie is anticipated
to be commanded by the high dispersion grade. This phenomenon is primarily
propelled by its extensive utilization in tire manufacturing processes. The
preference for this grade is underscored by its indispensable attributes,
including exceptional dispersibility and impressive thermal stability.
Characteristically, this grade incorporates roughly 20% of insoluble sulfur in
powder form, subsequently undergoing oil treatment. In comparison to
alternative grades, its concentration of insoluble sulfur tends to be
relatively lower. The composition usually encompasses polymers, integrating a
range of dispersing agents, SBR, EPDM, and analogous constituents.
Based on application,
the tire manufacturing segment commands the highest share of revenue. tire
manufacturing took center stage as the dominant force in the global Insoluble
Sulfur market. This phenomenon can be attributed to a significant upswing in
the demand for the product within the rapidly expanding global tire
manufacturing sector. Tire manufacturers have increasingly turned to insoluble
sulfur formulators, recognizing it as a crucial raw material essential to
produce top-tier performance tire products. Moreover, several enterprises,
including prominent names like Eastman Chemical Company and Oriental Carbon
& Chemicals Ltd., are directing their efforts towards the production of
high-quality products that offer ease of use to tire manufacturers. This
strategic pursuit aims not only to streamline the manufacturing process,
potentially resulting in reduced production times, but also to yield products
with superior performance characteristics. The increased efficiency and
shortened timelines eventually translate into reduced operational expenditures
for these companies, making this aspect a critical consideration in the
adoption of the product.
Based on region,
Asia Pacific took center stage as the leading contender in the global Insoluble
Sulfur market. Throughout the forecast period, the region is anticipated to
uphold its significant stance, largely attributed to the increasing number of
rubber processors operating in countries including China, India, Thailand,
Japan, and South Korea. It's noteworthy that major corporations are
strategically shifting their production bases to the Asia Pacific region. This
migration is fueled by a combination of factors such as more lenient
regulations, the availability of abundant land resources, a skilled and
cost-efficient workforce, and favorable trade agreements with economically
robust nations.
Major companies
operating in Global Insoluble Sulfur Market are:
- Lanxess AG
- Nynas AB
- Oriental Carbon and Chemicals Ltd
- Eastman Chemical Company
- China Sunsine Chemical Holdings Ltd.
- Lions Industries s.r.o
- Grupa Azoty S.A.
- Schill+Seilacher "Struktol"
GmbH
- Sennics Co., Ltd.
- Henan Kailun Chemical Co., Ltd.
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“The demand for
insoluble sulfur is gaining momentum due to the rapid urbanization and economic
expansion observed in emerging economies. As urban populations swell and
disposable incomes increase, there is a corresponding uptick in the consumption
of automobiles, consumer goods, and industrial products. This heightened demand
across various sectors indirectly propels the need for insoluble sulfur, given
its pivotal role in elevating the performance and longevity of these products.
Furthermore, the process of urbanization often triggers increased investments
in infrastructure and construction endeavors, thereby further amplifying the
requirement for top-notch rubber materials create a lucrative opportunity in
the market growth,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“Insoluble
Sulfur Market - Global Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028 Segmented By Grade (High dispersion, High stability, Regular grade),
By Application (Tire manufacturing, Industrial, Footwear, Others), By Region
and Competition, has evaluated the future growth potential of Global Insoluble
Sulfur Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Insoluble Sulfur
Market.
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