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The sulfur dioxide market size is forecast to increase by USD 187 million, at a CAGR of 6.68% between 2023 and 2028. The market is driven by the surging demand for sulfuric acid, which is the primary consumer of sulfur dioxide. Sulfuric acid is extensively used in various industries, including fertilizers, chemicals, and oil refining, among others. Additionally, there is a growing trend towards sustainable practices in industries, leading to an increased focus on reducing emissions and adopting cleaner production processes. This has resulted in the exploration of alternatives to sulfur dioxide, such as hydrogen peroxide and ozone, for various applications. Despite this, sulfur dioxide continues to hold a significant market share due to its cost-effectiveness and proven efficiency. However, stringent regulations regarding sulfur dioxide emissions and the increasing availability of alternatives pose significant challenges to the market's growth.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The gas segment is estimated to witness significant growth during the forecast period. The market encompasses the production and consumption of sulfur dioxide in various forms, including gas and liquid. In the industrial sector, sulfur dioxide gas plays a significant role in numerous applications. Notably, it is extensively used in chemical manufacturing for the production of sulfuric acid, a versatile chemical employed in various industries such as fertilizers, metal processing, and detergent production.
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The gas segment was the largest segment and valued at USD 274.40 million in 2018. The electronic industry, specifically in semiconductor and PCB screens, utilizes sulfur dioxide as a cleaning agent. Furthermore, sulfur dioxide is employed as an antioxidant and preservative in food additives, particularly in packaged and processed foods. Beyond industrial applications, sulfur dioxide is also used in environmental sustainability efforts, such as waste water treatment and pollution control technologies. In the pulp and paper industry, sodium bisulphite production relies on sulfur dioxide. Hence, such factors are fuelling the growth of this segment during the forecast period.
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APAC is estimated to contribute 47% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Sulfur dioxide is a versatile chemical substance with various applications in different industries. It serves as a crucial bleaching agent in the paper and pulp industry, enhancing the whiteness and brightness of paper products. In food and beverages, it functions as a preservative and reducing agent, particularly in winemaking and alcoholic beverages. Sulfur dioxide is also employed as a food additive, ensuring freshness and prolonging the shelf life of various food items. Hence, such factors are driving the market in APAC during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Aarti Industries Ltd: The company offers sulfur dioxide chemical-7446-09-5.
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Market structure |
Fragmented |
YoY growth 2023-2024 |
5.98 |
The market is driven by its extensive applications in various industries, including chemical manufacturing, food processing, and environmental regulations. In the chemical industry, sulfur dioxide is primarily used in the production of sulfuric acid, which is a key raw material in the manufacturing of semiconductors, electronic components, and cleaning chemicals. In the electronic industry, sulfur dioxide is used as a reducing agent in the manufacturing of integrated circuits and PCB screens. Moreover, sulfur dioxide is also used as an antioxidant and preservative in the food industry, particularly in winemaking, processed foods, and packaged foods. In the environmental sector, sulfur dioxide is used in emission control technologies to reduce air pollutants and improve air quality. Health concerns and regulatory compliance are major factors influencing the market. Sulfur dioxide is a respiratory system irritant and can cause health issues when inhaled in large quantities. Therefore, strict regulations are in place to limit its emission and usage in various industries. Furthermore, sulfur dioxide is also used in waste water treatment and as a reducing agent in biochemical processes. Its volatility makes it suitable for use in cold storage and alcoholic beverages production. Overall, the market is expected to grow due to its diverse applications and increasing demand from various industries.
Surging demand for sulfuric acid is notably driving market growth. Sulfur dioxide plays a significant role in the production of sulfuric acid, an essential industrial chemical used in various sectors. The process of oxidizing sulfur dioxide and subsequently hydrating it results in the production of sulfuric acid.
Moreover, this versatile chemical is extensively utilized in fertilizer manufacturing, accounting for over 55% of its global production. In agriculture, sulfuric acid's efficiency in producing phosphoric acid and phosphate fertilizers is indispensable. The electronic industry, specifically in semiconductors and PCB screens, relies on sulfuric acid as a cleaning agent. Thus, such factors are driving the growth of the market during the forecast period.
Shift towards sustainable practices is the key trend in the market. The market is witnessing significant attention due to its extensive applications in various industries. Sulfuric Acid production is a major end-user, where sulfur dioxide is used as a raw material. In the Electronic Industry, sulfur dioxide is utilized in the production of semiconductors and PCB screens. Sulfur dioxide finds use as a cleaning chemical in numerous applications, including waste water treatment and pulp and paper processing.
Moreover, autonomous vehicles and antioxidants and preservatives in food additives are other emerging applications. Environmental concerns and regulations are driving the demand for sulfur dioxide in emission control technologies. Thus, such trends will shape the growth of the market during the forecast period.
Availability of alternatives for sulfur dioxide is the major challenge that affects the growth of the market. The market faces challenges due to the availability of various substitutes for sulfur dioxide in numerous applications, including wastewater management, food preservation, and others. Hydrogen peroxide, ozone, sodium bisulfite, and potassium metababisulfite are some of the commonly used alternatives.
Moreover, hydrogen peroxide, in particular, is gaining popularity due to its eco-friendly nature, as it decomposes into water and oxygen, thereby reducing pollution and health risks associated with sulfur dioxide exposure. In the textile and paper industries, hydrogen peroxide is utilized as a bleaching agent, while it functions as a disinfectant and oxidizer in various chemical processes. Moreover, in the electronic industry, sulfur dioxide is replaced by nitrogen oxides as a reducing agent in semiconductor manufacturing. Hence, the above factors will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Sulfur dioxide (SO2) is a versatile gas and liquid chemical compound with various applications in different industries. It is primarily produced as a byproduct in the manufacturing of sulfuric acid, which is widely used in various sectors such as electronics, pulp and paper, and chemicals. In the electronics industry, SO2 is used in the production of semiconductors and PCB screens as a cleaning agent. Sulfur dioxide also finds applications as an antioxidant and preservative in food additives, particularly in packaged and processed foods. In the automotive industry, SO2 is used as a component in refrigerants. Sodium bisulphite is produced using SO2, which is used in water treatment and wastewater treatment. Environmental concerns and regulations have led to the development of emission control technologies to reduce SO2 emissions from various industries, including power generation and chemical manufacturing.
Moreover, SO2 is a major contributor to air pollution and acid rain, which can lead to respiratory issues and other health concerns. In the pulp and paper industry, SO2 is used in the production of sulfite pulp. In agriculture, it is used as a fungicide and herbicide. Sustainability and environmental responsibility are key considerations in the use of SO2, and efforts are being made to reduce its emissions through the use of renewable energy sources and the reduction of reliance on fossil fuels. Overall, the market is expected to grow due to its diverse applications in various industries, including the food industry, textiles, and agriculture. However, the market is subject to regulations and environmental concerns, and the development of emission control technologies will continue to be a key driver in the market.
Market Scope |
|
Report Coverage |
Details |
Page number |
211 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.68% |
Market growth 2024-2028 |
USD 187 million |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 47% |
Key countries |
China, US, India, Japan, and South Korea |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aarti Industries Ltd., Air Liquide SA, Axcel Gases, Boliden Group, Chemtrade Logistics Income Fund, EGas Depot, ESSECO Srl, Grillo Werke AG, INEOS GROUP HOLDINGS S.A., Jaysons Chemical Industries., Kemira Oyj, Linde Plc, Manufacturas Quimicas Juan Messina SA, PVS Chemicals Inc., Sarex Chemicals Ltd., Shiva Pharmachem Ltd., Sigma Aldrich Chemicals Pvt Ltd, Sumitomo Seika Chemicals Co. Ltd., Tokyo Chemical Industry Co., Ltd., and WeylChem International GmbH |
Market dynamics |
Parent market analysis, market trends, market research and growth, market report, market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Technavio Analysis
3 Market Landscape
4 Market Sizing
5 Historic Market Size
6 Qualitative Analysis
7 Five Forces Analysis
8 Market Segmentation by Type
9 Market Segmentation by End-user
10 Customer Landscape
11 Geographic Landscape
12 Drivers, Challenges, and Opportunity/Restraints
13 Competitive Landscape
14 Competitive Analysis
15 Appendix
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