Global Insoluble Sulphur Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Grade, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030

Format: Online | Last Updated: Nov 2020

 
Insoluble Sulphur is a universally recognized vulcanizing agent used widely in the rubber industry for improving product’s elasticity and strength. Insoluble Sulphur is widely used in high quality rubber components requiring high degree of tack and resistance to fatigue and ageing, particularly in radial tires, belting, cable and wire insulating materials and hoses. Due to its non-blooming behavior, role of Insoluble Sulphur is critical for manufacturing high quality radial tires. Anticipating its vast market potential, Global Insoluble Sulphur market is projected to grow at a CAGR of 4% during the period between 2021-2030. 
 
The Insoluble Sulphur market is largely driven by growth in the global tire industry. With increasing number of on-road vehicles across the globe, the demand for convenience and high maintenance tire replacements has been rising. The tire manufacturers across the globe are under intense pressure from regulators and consumers to develop more fuel-efficient tires, while facing technological challenges to get a competitive edge in the highly crowded markets. Competitive pricing offered by automotive manufacturers across the globe has also created a surge in consumer spending on passenger cars in developing economies. This, backed by rising penetration of radialized tires in both passenger cars and commercial vehicles would further strengthen the role of Insoluble Sulphur across the automotive sector of the world. The content of Insoluble Sulfur is about 1.7 times higher in radial tires as compared to the bias tires. Skyrocketing demand for radialized tire with the automotive industry’s strong focus on improving vehicle’s fuel efficiency, better mileage and lightweight characteristics, would further boost the demand for Insoluble Sulphur in the forecast period. In addition to this, with changing consumer preferences and innovation across the global footwear industry, increased role of Insoluble sulfur in the footwear value chain would further accelerate the market growth in the years to come. 
In terms of grade, the regular grade led the global Insoluble Sulphur market owing to its increased usage across versatile rubber producing industries. Regular grade Insoluble Sulphur is majorly the one with no additive mixtures and is commercially considered as the most primary form of insoluble sulfur. Rising requirement for High Stability and High Dispersion grades due to their high level of thermal stability and enhanced characteristics to serve customizable applications would bolster the demand for Insoluble Sulphur in the forecast period.
 
As of 2019, Asia-Pacific dominated the global Insoluble Sulphur market, having more than 50% share in terms of volume. Due to rapid industrialization across China, India, Japan, South Korea and multiple other Asian countries, there has been exponential growth in the consumer spending on automobiles. Moreover, the region also contributes a major portion of footwear produced in the world thereby generating a major portion of the global Insoluble Sulfur demand throughout the year. 
 
The outbreak of COVID-19 triggered an unprecedented slowdown in the global automotive industry which seemed to lose its grip due to waning demand and curtailed plant operating rates due to coronavirus led nationwide lockdowns imposed across several nations to curb spreading of the deadly virus. Renowned tire makers across the world remained shut for more than a quarter which further reflected downfall in their quarterly sales figures. Hit by the demand downturn, the global tyre giant Goodyear announced permanent closure of its tire manufacturing facilities in Europe and North America. Brussels-based Bridgestone announced halt in production at its two major tire plants and decreased production at six others in response to the pandemic. Apollo Tires Ltd.  also stopped production of passenger car tires at its plant in the Netherlands. These factors proportionately impacted operating rates across Insoluble Sulphur manufacturing units, leading to double digit fall in the sales figures of renowned manufacturers such as Oriental Carbon & Chemicals and Eastman. However, with gradual reopening of major economies and restart of production facilities, demand is likely to bounce back within the next half of the year. Furthermore, resilient demand from footwear industry and agricultural tire sector is likely to lend a strong support to the overall market outlook in the forecast period.
 
Years Considered for this Report:
 
Historical Years: 2015 – 2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021 – 2030
 
Objective of the Study: 
 
•The primary objective of the study was to evaluate and forecast Insoluble Sulphur capacity, production, demand, inventory, and demand–supply gap globally. 
•To categorize Insoluble Sulphur demand based on grade, end use, region and distribution channel. 
•To identify major customers of Insoluble Sulphur globally.
•To evaluate and forecast Insoluble Sulphur pricing globally.
•To identify and profile major companies operating globally Insoluble Sulphur market.
•To identify major news, deals and expansion plans globally Insoluble Sulphur market.
  
 
Some of the major players operating in the global Insoluble Sulphur market are Eastman Chemical Company, Shikoku Chemicals Corporation, Oriental Carbon & Chemicals Ltd., Nynas AB, Grupa Azoty S.A., Henan Kailun Chemical Co., Ltd., Jiangxi Hengxingyuan Chemical Co. Ltd., China Sunshine Chemical Co. Ltd. Luoyang Sunrise Industrial Co., Ltd. etc. The Eastman Chemical Company dominates the market with almost 50% market share. Increasing technological investments and merger and acquisitions across the tire industry would further augment the growth of the Insoluble Sulphur market in the foreseeable future. Anticipating healthy demand from the tire industry, China’s leading Insoluble Sulphur manufacturer, Sunshine Chemical Holdings Ltd., added two production lines- a 10,000-tonne high-end accelerator TBBS and 10,000-tonne Insoluble Sulphur - which started operations from January 2019 and December 2018 respectively.  
 
Insoluble Sulphur prices are highly dependent on the prevalent market conditions and the fluctuations in the raw material, elemental Sulphur. Sluggishness in the automotive market hard hit the global Insoluble Sulphur market with prices assessing staggering lows in FY19. The prices tumbled to record breaking lows due to coronavirus led disruptions in the first two quarters of FY20. Average Insoluble Sulphur CFR China prices were assessed around USD XXX per MT on bulk contract basis in FY19 down by about XX per cent compared to its prices in FY18. 
 
To extract data for Global Insoluble Sulphur market, primary research surveys were conducted with Insoluble Sulphur manufacturers, suppliers, distributors, wholesalers and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for Global Insoluble Sulphur market over the coming years. 
 
ChemAnalyst calculated Insoluble Sulphur demand globally by analyzing the historical data and demand forecast which was carried out considering imported styrene prices, a monomer used for production of Insoluble Sulphur. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst. 
 
Key Target Audience
 
•Insoluble Sulphur manufacturers and other stakeholders
•Organizations, forums and alliances related to Insoluble Sulphur distribution
•Government bodies such as regulating authorities and policy makers
•Market research organizations and consulting companies
 
The study is useful in providing answers to several critical questions that are important for industry stakeholders, such as Insoluble Sulphur manufacturers, distributors and policymakers. The report also provides useful insights about which market segments should be targeted over the coming years to strategize investments and capitalize on growth opportunities.
 
Report Scope: 
 
In this report, the Global Insoluble Sulphur market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
 
Market, by Grade
Regular Grades, High Dispersion Grades, High Stability Grades, Special Grades
Market, by End Use
Tire Manufacturing, Industrial, Footwear and Others
Market, by Distribution Channel
Direct/Institutional Sales, Retail Sales, Other Channel Sales
Market, by Region
North America, APAC, Europe, MEA, South America
 
Market, by Region
 
North America
United States, Mexico, Canada
APAC
China, India, Japan, South Korea, Singapore, Indonesia, Thailand
Europe
Germany, Russia, France, United Kingdom, Spain, Italy
MEA
Saudi Arabia, UAE, South Africa
South America
Brazil, Argentina, Chile
 
Competitive Landscape
 
ChemAnalyst offers detailed analysis of major players including basic company details, Segmental/product information, financial matrices, growth strategies, expansion plans, collaborations, SWOT analysis etc.to give a comprehensive and meaningful insights on the respective product market.
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With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
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