Owing to application across diverse industries, the sulfur dioxide market in North America has registered tremendous growth in the past few years. Despite its primary usage in the preparation of sulfur trioxides, sulfites, and sulfuric acid, sulfur dioxide also finds application as disinfectant, refrigerant, food preservative, reducing agent, and bleach. On account of the aforementioned factor, the North America sulfur dioxide market is forecast to exhibit a CAGR of 7.8% between 2016 and 2024. At this pace, the market’s valuation will rise from US$8.2 bn in 2015 to US$16.0 bn by 2024.
Browse the full North America Sulfur Dioxide Market Report:http://www.mrrse.com/north-america-sulfur-dioxide-market
This regional market for sulfur dioxide market is characterized by the presence of many local enterprises alongside prominent global brands. While the market is currently witnessing dominance of companies such as Praxair Technology, Inc., INEOS Group AG, Boliden Group, Chemtrade Logistics Inc., Calabrian Corporation, and others, it is also impacted by policies that local players adopt. To counter competitive forces from enterprises running their business locally, dominant companies are focusing on strengthening their distribution channel, to make their products easily accessible across North America.
Application across Diverse Sectors to Boost North America Sulfur Dioxide Market
Sulfur dioxide is used in the production of sodium hydrosulfite, a bleaching agent extensively used in pulp and paper and textile industries. The pulp and paper industry is forecast to witness strong growth driven by the rise of paper recycling industry. Since the technology requires bleaching, rise in paper recycling will consequently create demand for sulfur dioxide.
The paper recycling industry in North America is going strong, which is a key factor fuelling the demand for sulfur dioxide in North America. Besides this, sulfur dioxide is also an important component in sulfuric acid, which has been witnessing high demand especially across developing economies with agriculture as a predominant sector. Fertilizers used in agriculture account for a significant percent of sulfur oxide consumption in the region. Spurred by these factors, the North America sulfur dioxide market will continue exhibiting strong growth over the forthcoming years.
Stringent Regulations may Curb Use of Sulfur Dioxide
Overall, the sulfur dioxide market will continue exhibiting a positive trajectory in North America. However, rising health and environmental concerns might limit the scope of its application to an extent. Prolonged exposure to sulfur dioxide may result in burning sensation in throat and nose, breathing difficulties, and may have adverse effect on lungs. Moreover sulfur dioxide is also a key component of acid rain, which causes harm to aquatic life, deforestation, corrodes building materials and paints, and acidifies waterways. To curb these prominent threats of sulfur dioxide use, countries across North America have various stringent regulations in place, which have negative impact on the market.
U.S. and Canada Emerge as Strongest Market for Sulfur Dioxide in North America
In North America, the U.S. and Canada have emerged as the strongest markets for Sulfur dioxide. Of these, the U.S. held the largest share in the market in 2015 on account of being one of the largest consumers of sulfur dioxide in the world. The chemical industry makes the largest end user for sulfur dioxide in the U.S., trailed by textile and food and beverages industry.
Browse the full Press Release of North America Sulfur Dioxide Market at :http://www.mrrse.com/sulfur-dioxide-market
Canada is also a flourishing market for sulfur dioxide contributing a revenue share of over 37% to the North America sulfur dioxide market in 2015. Being one of the fastest growing economies in the world, Canada maintains the most favorable regulations aimed at catapulting the medium- and small scale industries to the fore. These regulations have offered great scope for the expansion of the sulfur dioxide market as well.