Sulfur Dioxide Market Size To Hit US$280.5 Million By 2026 | Exhibit A CAGR Of 1.6% (2021-2026)

2022-10-27 02:01:01

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Usage of sulphur dioxide as preservatives in food industry alongside the growing expansions and investments is set to majorly impact the sulfur dioxide market.

HYDERABAD, TELANGANA, INDIA, October 27, 2022 / / -- IndustryARC, in its latest report, predicts that the size is forecast to reach US$280.5 million by 2026, after growing at a CAGR of 1.6% during 2021-2026. Sulfur dioxide is primarily used in the production of sulfuric acid. It serves as a catalyst in the synthesis of sulfuric acid. Sulfur dioxide is first turned to sulfur trioxide, after which it is converted to oleum, and finally to sulfuric acid. The chemical interaction of sulfur with oxygen produces the sulfur dioxide required for this purpose. The Sulfur Dioxide industry is seeing an increase in demand as people consume more food and beverages. Over the forecast period, the worldwide sulfur dioxide market is expected to increase significantly. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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Key Takeaways:

This IndustryARC report on the sulfur dioxide market highlights the following areas -

Asia-Pacific dominates the sulfur dioxide market, owing to the high demand of sulfur dioxide from food & beverages, chemical, and oil & gas sector in this region.

The significant usage of Sulfur dioxide in food and beverage industry, pharma, chemical and medical sector is analyzed to contribute to the demand for the market during forecast period 2021-2026.

Adding to this, production of sulphuric acid from the SO2 alongside its rising demand in the electronics sector is majorly boosting the market growth rate.

Government bodies have stated that sulfur dioxide affects the respiratory system, particularly lung function, and can irritate the eyes, which may restrain the usage of sulfur dioxide and hinder with its market growth.

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Segmental Analysis:

Sulfur Dioxide Market Segment Analysis – By Form: The liquid segment held the largest share in the sulfur dioxide market in 2020 up to 84.2% by revenue and is estimated to grow at a CAGR of 1.9% during 2021-2026. Liquid sulfur dioxide has numerous applications in many industries including pulp & paper, water treatment, and in the production of Sodium Bisulphite. It can function as a reducing agent, an oxidizing agent, a pH controller, purifying agent, preservative, leaching in the mining industry, lithium battery recycling and so on. Therefore, the significant growth in these industries is set to boost the market growth rate during the forecast period 2021-2026.

Sulfur Dioxide Market Segment Analysis – By Application: The refrigerant segment held the largest share in the sulfur dioxide market in 2020 and is forecasted to grow at a CAGR of 1.4% during 2021-2026. In cold storage plants sulfur dioxide is used as refrigerants. Hence the usage of large storage units in chemical storage, food storage and so on is analyzed to contribute to the market growth rate.

Sulfur Dioxide Market Segment Analysis – By End-Use Industry: The food & beverages segment held the largest share in the sulfur dioxide market in 2020 and is forecasted to grow at a CAGR of 1.9% during 2021-2026. In food and beverage industry, sulfur dioxide has a wide range of applications as a fumigant, preservative, bleach and steeping agent for grain. With increased disposable income, the middle class and urban society in general are more likely to dine out and try new wines which would eventually boost its market growth. The growing inclination of millennial towards favor snacks to traditional sit-down meals, the demand for savory snacks in the United States is growing. Hence, the growing demand of ready to eat snacks is another factor fueling its market growth.

Sulfur Dioxide Market Segment Analysis – By Geography: Asia-Pacific held the largest share in the sulfur dioxide market in 2020 up to 52% by revenue. Rapid urbanization, changing lifestyle along with the hectic schedules of working population has increased the demand of ready to eat food products and beverages in the region is a vital factor fueling the sulfur dioxide market growth.

Competitive Landscape:
The top 5 players in the sulfur dioxide industry are -
1. Boliden Group
2. Ineos Group Ltd.
3. Linde plc
4. Kemira Oyj
5. Chemtrade Logistics Inc.

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Similar Reports:

A. Sulfur Fertilizers Market

B. Elemental Sulfur Market

Venkat Reddy
IndustryARC

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