Sulfur Dioxide Market
Sulfur Dioxide Market (Application - Sulfuric Acid, Bleaching Agent, Refrigerating Agent, and Food Preservative; End Use - Chemical, Textiles, and Food & Beverages) - North America Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024
Press Release :
North America Sulfur Dioxide Market: Snapshot
In the past few years, the demand for sulfur dioxide in several industrial applications has witnessed significant growth. Although the primary applications of sulfur dioxide are in the preparation of sulfuric acid, sulfur trioxide, and sulfites, it also finds application as a refrigerant, disinfectant, reducing agent, food preservative, and bleach.
The sulfur dioxide market has been growing at a gradual pace in North America. The market was valued at US$8.2 bn in 2015 and is projected to reach US$16.0 bn by 2024 at a CAGR of 7.8% therein.
Growing Demand for Processed Food Material Drives Demand for Sulfur Dioxide in F&B Sector
The market for sulfur dioxide in North America has been segmented on the basis of application into sulfuric acid, bleaching agents, refrigerating agents, food preservatives and antioxidants, and others. Sulfuric acid is the leading application segment, followed by refrigerating agents and bleaching agents. Food preservatives is also a prominent application of sulfur dioxide in North America. During the forecast period, the revenue generated by the food preservation application segment is anticipated to rise at a CAGR of 8.4%. The consumption of sulfur dioxide in the food and beverages industry is increasing as the demand for packaged and processed food material is on the rise. The production of sulfur dioxide for the food and beverages sector is projected to display an attractive growth rate by the end of the forecast period.
Chemicals was the leading end-use segment in North America in 2015. The total revenue share of this end-use segment was nearly 60% that year. However, the food and beverages segment is likely to gain much traction in North America between 2016 and 2024. The textile segment is also projected to expand at a steady pace during the forecast period, with the revenue rising at a CAGR of 6.7%.
Recovering U.S. Economy to Present Unexplored Avenues for Sulfur Dioxide Market
Geographically, the North America sulfur dioxide market has been segmented into the U.S. and Canada. The U.S. was the leading market for sulfur dioxide in 2015 and one of the most significant consumers of sulfur dioxide in the world. The U.S. is a mature national market for sulfur dioxide and as the economy improves, the country is expected to provide previously unexplored avenues for the market to grow. Chemicals formed the leading end-user segment in the U.S. in 2015, followed by textiles and the food and beverages industry. The revenue generated by the food and beverages end-use segment toward the sulfur dioxide market is anticipated to expand at a CAGR of 7.9% during the forecast period.
Canada is another flourishing market for sulfur dioxide in North America, with a revenue share of 37% in 2015. Canada is one of the fastest growing economies in the world and favorable government regulations and the emergence of medium and small enterprises have contributed significantly to the sulfur dioxide market in the country. Sulfuric acid is the most prominent application segment in Canada’s sulfur dioxide market. During the forecast period, the sulfuric acid application segment is expected to rise at a steady CAGR of 6.4%, followed by the food preservatives application segment. The total revenue generated by the Canada sulfur dioxide market is anticipated to rise at rapid pace from 2016 to 2024.
Key players in the North America sulfur dioxide market include 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.
North America Sulfur Dioxide Market: Scope and Methodology
This research study analyzes the market for sulfur dioxide in terms of revenue (US$ Mn) and volume (Million tons). The sulfur dioxide market has been segmented on the basis of application, end use, and geography. The geographical segmentation includes countries such as the U.S. and Canada. The report features a detailed regional segmentation with market growth forecasts for the years 2016−2024. 2015 has been considered as the base year and 2016 the estimated year, while all forecasts have been given for the period from 2016 to 2024. Market data for all the segments has been provided at the country-specific levels from 2016 to 2024. The report provides a broad competitive analysis of companies engaged in the development of sulfur dioxide. The report also includes key market dynamics such as the drivers, restraints, and opportunities affecting the North America sulfur dioxide market. These are analyzed in detail and illustrated in the report with the help of supporting graphs and tables. The report also provides a comprehensive analysis of the market with the help of the Porter’s Five Forces Analysis model, which helps in understanding the factors that affect the structure and profitability of the global sulfur dioxide market. These are the bargaining power of buyers, the bargaining power of suppliers, the threat of new entrants, the threat of substitutes, and the degree of competition.
The high-level analysis in the report provides detailed insights into the sulfur dioxide market in North America. There are currently numerous drivers for the market. Prices of sulfur dioxide vary in each country and depend on the demand-supply scenario. Hence, a similar volume-to-revenue ratio does not follow for each individual country. Individual pricing of sulfur dioxide for each application has been taken into account while estimating and forecasting market revenue on the regional level. Regional average price has been considered while breaking down the market into application segments in each country The most prominent drivers include strong growth in bleaching application and rising demand for sulfuric acid (H2SO4). Market attractiveness analysis was carried out for the sulfur dioxide market on the basis of end use, application, region, and country. Market attractiveness was estimated on the basis of common parameters that directly impact the market.
North America Sulfur Dioxide Market: Segmentation
On the basis of end use type, the market has been segmented into chemicals, textiles, food & beverages, and others. By application, the sulfur dioxide market has been segmented by sulfuric acid, bleaching agent, refrigerating agent, food preservative and antioxidant, and others applications. Application segments have been analyzed based on current trends and future potential. Regional segmentation includes current and forecast demand for sulfur dioxide in North America. The region has been further sub-segmented into countries and sub-regions with relevance to the market. Segmentation also includes demand for individual application type in the region
In terms of geography, the market has been segmented into two countries: the U.S. and Canada. The U.S. is expected to remain the dominant market for sulfur dioxide, with demand reaching 2,389.0 million tons by 2024. Canada is one of the fastest growing economies in the world. Favorable government regulations and the emergence of medium and small enterprises in Canada have contributed significantly to the sulfur dioxide market.
Key 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. The report provides an overview of these companies, followed by their financial details, business strategies, and recent developments.
Sulfur Dioxide Market: By End Use
- Food & Beverages
Sulfur Dioxide Market: By Application
- Sulfuric Acid
- Bleaching Agent
- Refrigerating Agent
- Food Preservative and Antioxidant
Sulfur Dioxide Market: By Region
- North America
- The U.S.