Sulfur Dioxide Market is Projected to Reach US$16.0 billion by 2024 at a CAGR of 7.8%: North America Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024: TMR

ALBANY, New York, October 4, 2016 /PRNewswire/ --

Transparency Market Research has released a new market report entitled "Sulfur Dioxide Market By Application (Sulfuric Acid, Bleaching Agent, Refrigerating Agent, Food Preservative and Others), By End Use (Chemical, Textiles, Food & Beverages and Others)   - North America Industry Analysis, Size, Share, Growth, Trends, and Forecast - 2016-2024." According to this report, the North America sulfur dioxide market was valued at US$ 8,247.9 Mn in 2015 and is projected to reach US$ 16,095.0 Mn by 2024, at a CAGR of 7.8% from 2016 to 2024.

Sulfur dioxide is a chemical compound with formula SO2. At standard atmosphere, sulfur dioxide is a toxic gas and has a pungent, irritating odor. Sulfur dioxide is released naturally in the atmosphere by volcanic activity. Production of sulfuric acid is the main application of sulfur dioxide. It is used as intermediate for the manufacturing of sulfuric acid. Sulfuric acid is witnessing huge demand, especially in developing countries as these countries majorly depend on agriculture that requires phosphate fertilizers. These fertilizers are major consumers of sulfuric acid, accounting for about 50% of the sulfuric acid consumption in 2014.  Sulfuric acid is typically consumed by steel, fertilizer, and petroleum industries and the demand for sulfuric acid is projected to grow strongly in the future. Sulfur dioxide forms an important component in the production of sulfuric acid (H2SO4).

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Thus, rising demand for sulfuric acid will also result in the growth of sulfur dioxide production in North America. Sulfur dioxide is widely used for food preservation in food and beverage industries. Food preservation is among the significantly growing applications of sulfur dioxide across North America. Of the various sulfur dioxide end use industries, the pulp & paper industry has a strong potential for growth owing to the expanding paper recycling industry. The paper recycling process requires bleaching, which in turn paves the way for enhanced production of sulfur dioxide in North America.

The market for sulfur dioxide in North America has been segmented into application and end use. Sulfuric acid is followed by refrigerating agent and bleaching agent application. Food preservative is one of the leading application segments of the sulfur dioxide market in North America. During the forecast period, the revenue of the food preservation application segment is anticipated to rise at a CAGR of 8.4%.

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Chemicals was the largest end use segment in North America during 2015. The total revenue share of this end use segment in 2015 was nearly 60%. However, food and beverages end use segment is likely to grow at a significant pace in North America between 2016 and 2024. During the forecast period, revenue of textile segment is anticipated to expand at a CAGR of 6.7%.

Major players of the sulfur dioxide market are Boliden Group, INEOS Group AG, Praxair Technology, Inc., The Linde Group, Kemira Oyj, Chemtrade Logistics Inc., Calabrian Corporation, Grillo-Werke AG, PVS Chemicals Inc., and Esseco Group Srl.

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Sulfur Dioxide Market: By End Use 

• Chemicals
• Textiles
• Food & Beverages
• Others

Sulfur Dioxide Market: By Application 

• Sulfuric Acid
• Bleaching Agent
• Refrigerating Agent
• Food Preservative and Antioxidant
• Others

Sulfur Dioxide Market: By Region 

• North America
  • The U.S.
  • Canada

Browse other Research Report: 

Global Sulfur Market: http://www.transparencymarketresearch.com/sulphur-market.html

About TMR 

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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SOURCE Transparency Market Research