In the recent years, the sulfur dioxide industry has been in growth mode due to the increasing demand for sulfur dioxide for an array of industrial applications. Although sulfur dioxide is primarily used for the preparation of sulfur trioxide, sulfites, and sulfuric acid, it also used as a disinfectant, refrigerant, food preservative, reducing agent, and bleach.
According to a report by Transparency Market Research, the North America sulfur dioxide market has been projected to be worth US$16.0 bn by 2024 increasing from US$8.2 bn in 2015 at a CAGR of 7.8% therein.
Rising Consumption of Processed Food Pushes Demand for Sulfur Dioxide in Food and Beverages Industry
The North America market for sulfur dioxide has been divided by application into bleaching agents, food preservatives and antioxidants, sulfuric acid, refrigerating agents, and others. Amongst these, sulfuric acid is the dominant application segment, which is followed by refrigerating and bleaching agents. Food preservatives also exhibits a significant demand for sulfur dioxide in North America. Between 2016 and 2024, the food preservation application segment is expected to develop at 8.4% CAGR. The increasing demand for packaged and processed food bodes well for the growth of the sulfur dioxide market to serve the food preservatives application segment. The manufacture of sulfur dioxide for food and beverages is expected to contribute significantly to the growth of the North America sulfur dioxide market.
In 2015, chemicals stood as the largest end-use segment in this market. This end-use segment held nearly 60% of the revenue of the overall market in the same year. However, food and beverages is expected to gain much traction in the North America sulfur dioxide market in the coming years. Also, the textile segment is expected to display a steady growth developing at a CAGR of 6.7% between 2016 and 2024.
Improving U.S. Economy Fuels Demand for Sulfur Dioxide for Newer Applications
Geography-wise, the North America sulfur dioxide market is divided into the U.S. and Canada. In 2015, the U.S. stood as the leading market and is also one of the largest consumers of sulfur dioxide across the world. Although the U.S. is a mature market for sulfur dioxide, however, as the economy improves it is expected to open new avenues for the growth of this market. In 2015, in the U.S., chemicals stood as the largest end-user segment followed by textiles and food and beverages. The food and beverages end-user segment in the U.S. is expected to expand at a CAGR of 7.9% between 2016 and 2024.
Canada also contributes significantly to the North America sulfur dioxide market and held 37% of the market in 2015. The revenue generated by the Canada sulfur dioxide market is expected to rise significantly in the coming years. In Canada, the emergence of small and medium enterprises and favorable government regulations for their growth has contributed to the growth of the North America sulfur dioxide market. The application segment of sulfuric acid is expected to contribute significantly to the Canada sulfur dioxide market in the coming years.
Browse the full North America Sulfur Dioxide Market report http://www.mrrse.com/north-america-sulfur-dioxide-market
Some of the top vendors in the North America market for sulfur dioxide are Boliden Group, Praxair Technology Inc., Kemira Oyj, Calabrian Corporation, PVS Chemicals Inc., INEOS Group AG, The Linde Group, Chemtrade Logistics Inc., Grillo-Werke AG, and Esseco Group Srl.