ASEAN Sulfur Market Insights By Growth, Research Methodology, Emerging Trends and Forecast 2022-2031

The market for Sulfur in ASEAN region is expected to grow at a CAGR of over 3% during the forecast period. Major factors driving the market studied are rising demand from the fertilizer manufacturing sector and increasing usage of sulfur for the vulcanization of rubber. On the flipside, stringent environmental regulations regarding emissions and unfavorable conditions arising due to COVID-19 outbreak are the major restraints, which are expected to hinder the growth of market.

– Usage of sulfur in cement polymer concrete is expected to offer lucrative opportunities for the growth of market in the future.
– By end-user industry, fertilizer segment accounted for the largest share.
– By country, Indonesia is expected to dominate the market during the forecast period.

Key Market Trends

Growing Demand from Fertilizer Industry

– Sulfur is considered as a fourth macronutrient along with nitrogen, phosphorus, and potassium in agriculture industry.
– Sulfur has various functions in plants. Some of these major roles are synthesis of proteins and chlorophyll formation. It is also essential in the synthesis of oils, especially in oil crops, and is an active component in the metabolism of nitrogen.

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– Oil palm, rubber, and sugarcane account for almost 95% of the ASEAN fertilizers demand. Plantations are expected to be the main driver for the fertilizer demand increase in the next few years, and, in turn, this may drive the global sulfur market for fertilizer use.
– Additionally, due to emission controls in the past ten years, sulfur deposition has dropped below the requirement for many crops, widespread sulfur deficiencies resulted in the development of a wide range of sulfur-containing crop and pasture fertilizers.
– The increase in oilseed rape production, used for biofuels, has resulted in an increased demand for sulfur fertilizers, which is used to counter the risk of sulfur deficiency.
– Strong market for soybean, corn, and sugarcane, which are used for biofuel production, have resulted in increased demand for sulfate fertilizers, such as, ammonium thiosulphates.
– Indonesia GDP from agriculture increased from USD 3.21 billion in the fourth quarter of 2019 to USD 5.05 billion in first quarter of 2020. Also, Indonesian fertilizers market is expected to grow at a CAGR of 4% during the forecast period. These factors are expected to positively impact the sulfur market in the country.

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