Sulfur Dioxide Market Will Reach USD 12560 Million By 2028 With A CAGR of 4.4% - Valuates Reports
BANGALORE, India, April 26, 2022 /PRNewswire/ -- Sulfur Dioxide market is segmented by Type - Gas Sulfur Dioxide, Liquid Sulfur Dioxide, by Application - Chemicals, Textiles, Food & Beverages, Petroleum. Global Opportunity Analysis and Industry Forecast 2021 - 2028. It is published in Valuates Reports under the Chemicals Industry Category.
The global Sulfur Dioxide market size is estimated to be worth USD 9699.8 million in 2022 and is forecast to be a readjusted size of USD 12560 million by 2028 with a CAGR of 4.4% during the review period.
Major factors driving the growth of the sulfur dioxide market are
The sulfur dioxide market is expected to be driven by rising demand for sulfur dioxide from various end-user segments such as Chemicals, Textiles, Food & Beverages, and Petroleum Refining.
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TRENDS INFLUENCING THE GROWTH OF THE SULFUR DIOXIDE MARKET
Due to its properties as a preservative and antioxidant in many foods, such as shrimp, pickled foods, and, in particular, dried fruit, sulfur dioxide is widely used in the food and beverage industries. As a result, rising food industry demand, as well as organic expansions and investments, is expected to have a significant impact on sulfur dioxide market growth.
Sulfur dioxide has traditionally been used to make sodium hydrosulfite, which is used primarily as a bleaching agent in the textile and pulp and paper industries, as well as in the manufacture of other chemicals. Stabilizing recycled pulp after hydrogen peroxide bleaching is a promising growth application in the pulp and paper industry. Sulfur dioxide is used to keep the pulp bright by destroying excess hydrogen peroxide, which can cause brightness reversion later on. Thus the increasing use of sulfur dioxide in the pulp and paper industry is expected to drive the sulfur dioxide market growth.
Due to the fact that sulfur dioxide is a major component in the production of sulfuric acid, the significant increase in demand for sulphuric acid as a result of its use in the electronic industry is expected to accelerate sulfur dioxide market growth. Sulfuric acid of electronic grade is used in a variety of applications, including semiconductors, PCB screens, and IC manufacturing. It is the most widely used specialty wet chemical in the semiconductor industry, where it is used in complex and tailored electronic applications, driving the segment's growth during the forecast period.
Furthermore, for extremely oxidizing salts, sulfur dioxide is used as a solvent. Sulfur dioxide is also used in wastewater treatment as a dipping agent. Sulfur dioxide is also used in winemaking as an antibiotic and antioxidant. These applications are expected to further fuel the sulfur dioxide market growth.
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SULFUR DIOXIDE MARKET SHARE ANALYSIS
The food & beverages segment is expected to be the most lucrative segment. Sulfur dioxide is used as a fumigant, a preservative, a bleach, and a grain steeping agent in the food and beverage industry.
Based on region, Asia-Pacific is expected to be the most lucrative. Rapid urbanization, changing lifestyles, and the hectic schedules of working people have increased the demand for ready-to-eat food and beverages in the region, which is a major factor driving the sulfur dioxide market growth.
The liquid segment is expected to be the most lucrative. Sulfur dioxide in liquid form is used in a variety of industries, including pulp and paper, water treatment, and the production of sodium bisulfite.
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Market By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
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Key players profiled in the report include, BASF SE, Bayer AG, Saint-Gobain S.A, Rockwool International, Huntsman Corporation, Atlas Roofing Corporation, Bridgestone, Evonik Industries AG, GAF Materials Corporation, Kingspan Group PLC, and The DoW Chemical Company.
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SIMILAR REPORTS
- The global Sodium-Sulfur Battery market was valued at USD 228 million in 2020 and it is expected to reach USD 850.1 million by the end of 2027, growing at a CAGR of 18.5% during 2021-2027.
- The global Secondary Alkane Sulfonates market size is estimated to be worth USD 1074.9 million in 2022 and is forecast to a readjusted size of USD 1288 million by 2028 with a CAGR of 3.1% during the review period.
- The global Flue Gas Desulfurizer (FGD) market was valued at USD 3636 million in 2020 and it is expected to reach USD 6422.7 million by the end of 2027, growing at a CAGR of 6.8% during 2021-2027.
- The global Sodium Hydrosulfite market size is estimated to be worth USD 310.9 million in 2022 and is forecast to a readjusted size of USD 283.9 million by 2028 with a CAGR of -1.5% during the review period.
- The global Sodium Dithionite market size is estimated to be worth USD 1426.7 million in 2022 and is forecast to a readjusted size of USD 2583.1 million by 2028 with a CAGR of 10.4% during the review period.
- In 2020, the global Elemental Sulfur market size was USD 9328.5 Million and it is expected to reach USD 10720 Million by the end of 2027, with a CAGR of 2.0% during 2021-2027.
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