New York, June 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Insoluble Sulfur Global Market Report 2023" - https://www.reportlinker.com/p06464190/?utm_source=GNW
Ltd., Luoyang Sunrise Industrial Co. Ltd., Sennics Co. Ltd., Weifang Jiahong Chemical Co. Ltd., China Sunsine Chemical Holdings Limited, Shanghai Shangyi Chemical Technology Company, Grupa Azoty S.A., Willing New Materials Technology Co. Ltd., Changde Dingyuan Chemical Industrial Limited, and Leader Technologies Co. Ltd.
The global insoluble sulfur market is expected to grow from $0.97 billion in 2022 to $1.03 billion in 2023 at a compound annual growth rate (CAGR) of 5.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many markets across the globe. The insoluble sulfur market is expected to reach $1.24 billion in 2027 at a CAGR of 4.8%.
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.
Insoluble sulfur refers to a form of sulfur that cannot dissolve in carbon disulfide. It allows more solid adhesion of the rubber, prevents the rubber from breaking apart, and improves resistance to heat and tire wear.
Asia-Pacific was the largest region in the insoluble sulfur market in 2022. The regions covered in insoluble sulfur report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main products of insoluble sulfur are non-oil-filled insoluble sulfur and oil-filled insoluble sulfur. It is available in regular grades, high dispersion grades, high stability grades, and special grades for tire manufacturing, footwear, industrial application, cable and wire, pipe, and others used by automotive, medical, consumer goods, and others.
The increasing number of on-road vehicles is expected to boost the growth of the insoluble sulfur market going forward.An on-road vehicle refers to an automobile that is self-propelled and intended for usage on a road.
Insoluble sulfur is a necessary raw material for tire manufacturing since it increases tire quality, wearability, and resistance to aging and fatigue; hence, the increasing number of on-road vehicles is expected to boost the insoluble sulfur market. For instance, according to a report published by the Government of Jersey, a UK-based organization responsible for the governance of the biggest of the Channel Islands, the Driver and Vehicle Standards (DVS) registration listed 127,661 automobiles as of 2021.Also, around 5,181 new registrations and 1,775 hybrid vehicles altogether were registered in 2021. Therefore, the increasing number of on-road vehicles is driving the growth of the insoluble sulfur market.
Product innovation is a key trend gaining popularity in the insoluble sulfur market.Major companies operating in the insoluble sulfur market are focusing on developing new products to strengthen their position in the market.
For instance, in March 2021, NTCS Group, an Uzbekistan-based granulated sulfur manufacturer, launched the production of polymer insoluble sulfur for rubber vulcanization with greater quality than other analogs. The sulfur content in the granulated sulfur is 97-98%.
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.Through the acquisition of Eastman Chemical Company, One Rock is excited to provide the strategic and operational resources required for an effective shift from a corporate subsidiary to a strong, independent firm.
The business is anticipated to go by the name Flexsys. Eastman Chemical Company is a US-based chemical industry company operating in the insoluble sulfur market.
The countries covered in the insoluble sulfur market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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 research report is one of a series of new reports that provides insoluble sulfur market statistics, including insoluble sulfur industry global market size, regional shares, competitors with a insoluble sulfur market share, detailed insoluble sulfur market segments, market trends, and opportunities, and any further data you may need to thrive in the insoluble sulfur industry. This insoluble sulfur market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06464190/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
