Summary

Global sulfur reached 62.15 Mt of sales in 2024 with industry-level revenue of about US$11.16bn and an implied average price near US$180/t, placing the market in a “tight-enough demand, normalized pricing” regime after the 2022 spike and 2023 reset. By 2024 sales volume, Saudi Aramco (~10.9%) and Sinopec (~10.2%) lead, followed by ADNOC, Gazprom, and Canadian Natural Resources; the Top 5 account for ~42.3% combined. At the same time, the long-tail “Others” still represents ~30.7%, leaving the market structurally tradable and highly sensitive to logistics and downstream operating rates rather than producer concentration alone.
Supply behaves like a compliance-driven by-product: sulfur is recovered as an unavoidable outcome of sour gas treating and refinery desulfurization. In 2024, the source split highlights this reality—Natural Gas ~35.51 Mt (~57%), Crude Oil ~22.00 Mt (~35%), and Other sources ~4.64 Mt (~7%). Regionally, the Middle East contributes ~32.8% of output, with China and CIS each around ~21%, aligning production with high-sulfur feedstock systems and large-scale processing infrastructure.
Demand is dominated by the sulfuric acid chain. In 2024, fertilizer-linked sulfuric acid consumed ~27.47 Mt (~44%), metals-related sulfuric acid ~20.68 Mt (~33%), and chemical processing ~14.00 Mt (~22%). Asia-Pacific is the demand center at ~34.65 Mt (~56%), effectively anchoring trade flows and marginal pricing dynamics.

Report Scope
This report aims to provide a comprehensive presentation of the global market for Sulphur, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Sulphur.
The Sulphur market size, estimations, and forecasts are provided in terms of output/shipments (k Tons) and revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. This report segments the global Sulphur market comprehensively. Regional market sizes, concerning products by Source, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Sulphur manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, production, and average price for the overall market and the sub-segments across the different segments, by company, by Source, by Application, and by regions.

Market Segmentation
By Company
 Saudi Aramco
 Canadian Natural Resources
 Gazprom
 Abu Dhabi National Oil Company (ADNOC)
 Shell
 Tengizchevroil
 Kuwait Petroleum Corporation (KPC)
 Suncor Energy
 Pemex
 National Petrochemical Company (NPC)
 Egyptian General Petroleum Corporation (EGPC)
 Freeport-McMoRan (FCX)
 Petrobras
 Qatar Petrochemical Company (QAPCO)
 Indian Oil Corporation Limited (IOCL)
 Petroliam Nasional Berhad (PETRONAS)
 Sinopec
 CNPC
 Rongsheng Petrochemical
 Sinochem
 China National Offshore Oil Company (CNOOC)

Segment by Source
 Natural Gas
 Crude Oil
 Others

Segment by Application
 Sulfuric Acid (fertilizer field)
 Sulfuric Acid (metal manufacturing field)
 Chemical Processing

Production by Region
 Middle East
 CIS
 Americas
 China
 Europe
 Others

Consumption by Region
 North America
 U.S.
 Canada

 Asia-Pacific
 China
 Japan
 South Korea
 Southeast Asia
 India
 Others

 Europe
 Germany
 France
 U.K.
 Italy
 Russia
 Others

 Latin America, Middle East & Africa
 Mexico
 Brazil
 Saudi Arabia
 UAE
 Egypt
 South Africa
 Others

Chapter Outline:
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, by Source, by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Detailed analysis of Sulphur manufacturers competitive landscape, price, production and value market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Production/output, value of Sulphur by region/country. It provides a quantitative analysis of the market size and development potential of each region in the next six years.
Chapter 4: Consumption of Sulphur in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and production of each country in the world.
Chapter 5: Provides the analysis of various market segments by Source, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 6: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product production/output, value, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 10: The main points and conclusions of the report.

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Table of Contents

1 Sulphur Market Overview 1
1.1 Product Definition 1
1.2 Sulphur by Source 1
1.2.1 Global Sulphur Market Value Growth Rate Analysis by Source: 2024 VS 2031 2
1.2.2 Natural Gas 3
1.2.3 Crude Oil 4
1.2.4 Others 4
1.3 Sulphur by Application 5
1.3.1 Global Sulphur Market Value Growth Rate Analysis by Application: 2024 VS 2031 5
1.3.2 Sulfuric Acid (fertilizer field) 7
1.3.3 Sulfuric Acid (metal manufacturing field) 8
1.3.4 Chemical Processing 9
1.4 Global Market Growth Prospects 10
1.4.1 Global Sulphur Production Value Estimates and Forecasts (2020-2031) 10
1.4.2 Global Sulphur Production Capacity Estimates and Forecasts (2020-2031) 11
1.4.3 Global Sulphur Production Estimates and Forecasts (2020-2031) 12
1.4.4 Global Sulphur Market Average Price Estimates and Forecasts (2020-2031) 13
1.5 Assumptions and Limitations 13
2 Market Competition by Manufacturers 16
2.1 Global Sulphur Production Market Share by Manufacturers (2020-2025) 16
2.2 Global Sulphur Production Value Market Share by Manufacturers (2020-2025) 18
2.3 Global Key Players of Sulphur, Industry Ranking, 2024 VS 2025 21
2.4 Global Sulphur Company Type and Market Share by Company Type (Tier 1, Tier 2, and Tier 3) 22
2.5 Global Sulphur Average Price by Manufacturers (2020-2025) 24
2.6 Global Key Manufacturers of Sulphur, Manufacturing Sites & Headquarters 24
2.7 Global Key Manufacturers of Sulphur, Founded Date 25
2.8 Global Sulphur Market Competitive Situation and Trends 26
2.8.1 Global Sulphur Market Concentration Rate 26
2.8.2 Global 5 and 10 Largest Sulphur Players Market Share by Revenue 27
2.9 Mergers & Acquisitions, Expansion 28
3 Sulphur Production by Region 30
3.1 Global Sulphur Production Value Estimates and Forecasts by Region: 2020 VS 2024 VS 2031 30
3.2 Global Sulphur Production Value by Region (2020-2031) 32
3.2.1 Global Sulphur Production Value Market Share by Region (2020-2025) 32
3.2.2 Global Forecasted Production Value of Sulphur by Region (2026-2031) 32
3.3 Global Sulphur Production Estimates and Forecasts by Region: 2020 VS 2024 VS 2031 33
3.4 Global Sulphur Production by Region (2020-2031) 35
3.4.1 Global Sulphur Production Market Share by Region (2020-2025) 35
3.4.2 Global Forecasted Production of Sulphur by Region (2026-2031) 35
3.5 Global Sulphur Market Price Analysis by Region (2020-2025) 36
3.6 Global Sulphur Production and Value, Year-over-Year Growth 37
3.6.1 Middle East Sulphur Production Value Estimates and Forecasts (2020-2031) 37
3.6.2 CIS Sulphur Production Value Estimates and Forecasts (2020-2031) 37
3.6.3 Americas Sulphur Production Value Estimates and Forecasts (2020-2031) 38
3.6.4 China Sulphur Production Value Estimates and Forecasts (2020-2031) 39
3.6.5 Europe Sulphur Production Value Estimates and Forecasts (2020-2031) 39
4 Sulphur Consumption by Region 41
4.1 Global Sulphur Consumption Estimates and Forecasts by Region: 2020 VS 2024 VS 2031 41
4.2 Global Sulphur Consumption by Region (2020-2031) 43
4.2.1 Global Sulphur Consumption by Region (2020-2031) 43
4.2.2 Global Sulphur Forecasted Consumption by Region (2026-2031) 43
4.3 North America 44
4.3.1 North America Sulphur Consumption Growth Rate by Country: 2020 VS 2024 VS 2031 45
4.3.2 North America Sulphur Consumption by Country (2020-2031) 45
4.3.3 U.S. 46
4.3.4 Canada 47
4.4 Europe 47
4.4.1 Europe Sulphur Consumption Growth Rate by Country: 2020 VS 2024 VS 2031 48
4.4.2 Europe Sulphur Consumption by Country (2020-2031) 48
4.4.3 Germany 49
4.4.4 France 50
4.4.5 U.K. 50
4.4.6 Italy 51
4.4.7 Russia 52
4.5 Asia Pacific 52
4.5.1 Asia Pacific Sulphur Consumption Growth Rate by Country: 2020 VS 2024 VS 2031 53
4.5.2 Asia Pacific Sulphur Consumption by Region (2020-2031) 53
4.5.3 China 55
4.5.4 Japan 55
4.5.5 South Korea 56
4.5.6 Southeast Asia 56
4.5.7 India 57
4.5.8 Australia 57
4.6 Latin America 58
4.6.1 Latin America Sulphur Consumption Growth Rate by Country: 2020 VS 2024 VS 2031 58
4.6.2 Latin America Sulphur Consumption by Country (2020-2031) 59
4.6.3 Mexico 60
4.6.4 Brazil 60
4.7 Middle East & Africa 61
4.7.1 Middle East & Africa Sulphur Consumption Growth Rate by Country: 2020 VS 2024 VS 2031 61
4.7.2 Middle East & Africa Sulphur Consumption by Country (2020-2031) 62
4.7.3 Saudi Arabia 63
4.7.4 UAE 64
4.7.5 Egypt 64
4.7.6 South Africa 65
5 Segment by Source 66
5.1 Global Sulphur Production by Source (2020-2031) 66
5.1.1 Global Sulphur Production by Source (2020-2025) 66
5.1.2 Global Sulphur Production by Source (2026-2031) 66
5.1.3 Global Sulphur Production Market Share by Source (2020-2031) 66
5.2 Global Sulphur Production Value by Source (2020-2031) 67
5.2.1 Global Sulphur Production Value by Source (2020-2025) 67
5.2.2 Global Sulphur Production Value by Source (2026-2031) 68
5.2.3 Global Sulphur Production Value Market Share by Source (2020-2031) 68
5.3 Global Sulphur Price by Source (2020-2031) 69
6 Segment by Application 71
6.1 Global Sulphur Production by Application (2020-2031) 71
6.1.1 Global Sulphur Production by Application (2020-2025) 71
6.1.2 Global Sulphur Production by Application (2026-2031) 71
6.1.3 Global Sulphur Production Market Share by Application (2020-2031) 71
6.2 Global Sulphur Production Value by Application (2020-2031) 72
6.2.1 Global Sulphur Production Value by Application (2020-2025) 72
6.2.2 Global Sulphur Production Value by Application (2026-2031) 73
6.2.3 Global Sulphur Production Value Market Share by Application (2020-2031) 73
6.3 Global Sulphur Price by Application (2020-2031) 74
7 Key Companies Profiled 76
7.1 Saudi Aramco 76
7.1.1 Saudi Aramco Sulphur Company Information 76
7.1.2 Saudi Aramco Sulphur Product Portfolio 76
7.1.3 Saudi Aramco Sulphur Production, Value, Price and Gross Margin (2020-2025) 77
7.1.4 Saudi Aramco Main Business and Markets Served 77
7.1.5 Saudi Aramco Recent Developments/Updates 78
7.2 Canadian Natural Resources 79
7.2.1 Canadian Natural Resources Sulphur Company Information 79
7.2.2 Canadian Natural Resources Sulphur Product Portfolio 79
7.2.3 Canadian Natural Resources Sulphur Production, Value, Price and Gross Margin (2020-2025) 80
7.2.4 Canadian Natural Resources Main Business and Markets Served 80
7.2.5 Canadian Natural Resources Recent Developments/Updates 81
7.3 Gazprom 81
7.3.1 Gazprom Sulphur Company Information 82
7.3.2 Gazprom Sulphur Product Portfolio 82
7.3.3 Gazprom Sulphur Production, Value, Price and Gross Margin (2020-2025) 82
7.3.4 Gazprom Main Business and Markets Served 83
7.3.5 Gazprom Recent Developments/Updates 83
7.4 Abu Dhabi National Oil Company (ADNOC) 84
7.4.1 Abu Dhabi National Oil Company (ADNOC) Sulphur Company Information 84
7.4.2 Abu Dhabi National Oil Company (ADNOC) Sulphur Product Portfolio 84
7.4.3 Abu Dhabi National Oil Company (ADNOC) Sulphur Production, Value, Price and Gross Margin (2020-2025) 85
7.4.4 Abu Dhabi National Oil Company (ADNOC) Main Business and Markets Served 85
7.4.5 Abu Dhabi National Oil Company (ADNOC) Recent Developments/Updates 86
7.5 Shell 86
7.5.1 Shell Sulphur Company Information 86
7.5.2 Shell Sulphur Product Portfolio 87
7.5.3 Shell Sulphur Production, Value, Price and Gross Margin (2020-2025) 87
7.5.4 Shell Main Business and Markets Served 88
7.5.5 Shell Recent Developments/Updates 88
7.6 Tengizchevroil 89
7.6.1 Tengizchevroil Sulphur Company Information 89
7.6.2 Tengizchevroil Sulphur Product Portfolio 89
7.6.3 Tengizchevroil Sulphur Production, Value, Price and Gross Margin (2020-2025) 90
7.6.4 Tengizchevroil Main Business and Markets Served 90
7.7 Kuwait Petroleum Corporation (KPC) 91
7.7.1 Kuwait Petroleum Corporation (KPC) Sulphur Company Information 91
7.7.2 Kuwait Petroleum Corporation (KPC) Sulphur Product Portfolio 92
7.7.3 Kuwait Petroleum Corporation (KPC) Sulphur Production, Value, Price and Gross Margin (2020-2025) 92
7.7.4 Kuwait Petroleum Corporation (KPC) Main Business and Markets Served 92
7.8 Suncor Energy 93
7.8.1 Suncor Energy Sulphur Company Information 93
7.8.2 Suncor Energy Sulphur Product Portfolio 94
7.8.3 Suncor Energy Sulphur Production, Value, Price and Gross Margin (2020-2025) 94
7.8.4 Suncor Energy Main Business and Markets Served 95
7.8.5 Suncor Energy Recent Developments/Updates 95
7.9 Pemex 95
7.9.1 Pemex Sulphur Company Information 96
7.9.2 Pemex Sulphur Product Portfolio 96
7.9.3 Pemex Sulphur Production, Value, Price and Gross Margin (2020-2025) 97
7.9.4 Pemex Main Business and Markets Served 97
7.10 National Petrochemical Company (NPC) 98
7.10.1 National Petrochemical Company (NPC) Sulphur Company Information 98
7.10.2 National Petrochemical Company (NPC) Sulphur Product Portfolio 98
7.10.3 National Petrochemical Company (NPC) Sulphur Production, Value, Price and Gross Margin (2020-2025) 99
7.10.4 National Petrochemical Company (NPC) Main Business and Markets Served 99
7.11 Egyptian General Petroleum Corporation (EGPC) 100
7.11.1 Egyptian General Petroleum Corporation (EGPC) Sulphur Company Information 100
7.11.2 Egyptian General Petroleum Corporation (EGPC) Sulphur Product Portfolio 101
7.11.3 Egyptian General Petroleum Corporation (EGPC) Sulphur Production, Value, Price and Gross Margin (2020-2025) 101
7.11.4 Egyptian General Petroleum Corporation (EGPC) Main Business and Markets Served 101
7.12 Freeport-McMoRan (FCX) 102
7.12.1 Freeport-McMoRan (FCX) Sulphur Company Information 102
7.12.2 Freeport-McMoRan (FCX) Sulphur Product Portfolio 102
7.12.3 Freeport-McMoRan (FCX) Sulphur Production, Value, Price and Gross Margin (2020-2025) 103
7.12.4 Freeport-McMoRan (FCX) Main Business and Markets Served 103
7.13 Petrobras 103
7.13.1 Petrobras Sulphur Company Information 104
7.13.2 Petrobras Sulphur Product Portfolio 104
7.13.3 Petrobras Sulphur Production, Value, Price and Gross Margin (2020-2025) 105
7.13.4 Petrobras Main Business and Markets Served 106
7.13.5 Petrobras Recent Developments/Updates 106
7.14 Qatar Petrochemical Company (QAPCO) 107
7.14.1 Qatar Petrochemical Company (QAPCO) Sulphur Company Information 107
7.14.2 Qatar Petrochemical Company (QAPCO) Sulphur Product Portfolio 107
7.14.3 Qatar Petrochemical Company (QAPCO) Sulphur Production, Value, Price and Gross Margin (2020-2025) 108
7.14.4 Qatar Petrochemical Company (QAPCO) Main Business and Markets Served 108
7.15 Indian Oil Corporation Limited (IOCL) 109
7.15.1 Indian Oil Corporation Limited (IOCL) Sulphur Company Information 109
7.15.2 Indian Oil Corporation Limited (IOCL) Sulphur Product Portfolio 110
7.15.3 Indian Oil Corporation Limited (IOCL) Sulphur Production, Value, Price and Gross Margin (2020-2025) 110
7.15.4 Indian Oil Corporation Limited (IOCL) Main Business and Markets Served 111
7.15.5 Indian Oil Corporation Limited (IOCL) Recent Developments/Updates 111
7.16 Petroliam Nasional Berhad (PETRONAS) 111
7.16.1 Petroliam Nasional Berhad (PETRONAS) Sulphur Company Information 112
7.16.2 Petroliam Nasional Berhad (PETRONAS) Sulphur Product Portfolio 112
7.16.3 Petroliam Nasional Berhad (PETRONAS) Sulphur Production, Value, Price and Gross Margin (2020-2025) 113
7.16.4 Petroliam Nasional Berhad (PETRONAS) Main Business and Markets Served 113
7.17 Sinopec 114
7.17.1 Sinopec Sulphur Company Information 114
7.17.2 Sinopec Sulphur Product Portfolio 114
7.17.3 Sinopec Sulphur Production, Value, Price and Gross Margin (2020-2025) 115
7.17.4 Sinopec Main Business and Markets Served 115
7.18 CNPC 115
7.18.1 CNPC Sulphur Company Information 115
7.18.2 CNPC Sulphur Product Portfolio 116
7.18.3 CNPC Sulphur Production, Value, Price and Gross Margin (2020-2025) 116
7.18.4 CNPC Main Business and Markets Served 117
7.18.5 CNPC Recent Developments/Updates 117
7.19 Rongsheng Petrochemical 118
7.19.1 Rongsheng Petrochemical Sulphur Company Information 118
7.19.2 Rongsheng Petrochemical Sulphur Product Portfolio 118
7.19.3 Rongsheng Petrochemical Sulphur Production, Value, Price and Gross Margin (2020-2025) 119
7.19.4 Rongsheng Petrochemical Main Business and Markets Served 119
7.20 Sinochem 120
7.20.1 Sinochem Sulphur Company Information 120
7.20.2 Sinochem Sulphur Product Portfolio 121
7.20.3 Sinochem Sulphur Production, Value, Price and Gross Margin (2020-2025) 121
7.20.4 Sinochem Main Business and Markets Served 121
7.21 China National Offshore Oil Company (CNOOC) 122
7.21.1 China National Offshore Oil Company (CNOOC) Sulphur Company Information 122
7.21.2 China National Offshore Oil Company (CNOOC) Sulphur Product Portfolio 123
7.21.3 China National Offshore Oil Company (CNOOC) Sulphur Production, Value, Price and Gross Margin (2020-2025) 123
7.21.4 China National Offshore Oil Company (CNOOC) Main Business and Markets Served 123
8 Industry Chain and Sales Channels Analysis 125
8.1 Sulphur Industry Chain Analysis 125
8.2 Sulphur Raw Material Supply Analysis 125
8.2.1 Key Raw Materials 125
8.2.2 Raw Materials Key Suppliers 126
8.3 Sulphur Production Mode & Process Analysis 127
8.4 Sulphur Sales and Marketing 128
8.4.1 Sulphur Sales Channels 128
8.4.2 Sulphur Distributors 128
8.5 Sulphur Customer Analysis 129
9 Sulphur Market Dynamics 130
9.1 Sulphur Industry Trends 130
9.2 Sulphur Market Drivers 132
9.3 Sulphur Market Challenges 133
9.4 Sulphur Market Restraints 134
10 Research Findings and Conclusion 135
11 Methodology and Data Source 137
11.1 Methodology/Research Approach 137
11.1.1 Research Programs/Design 137
11.1.2 Market Size Estimation 138
11.1.3 Market Breakdown and Data Triangulation 139
11.2 Data Source 140
11.2.1 Secondary Sources 140
11.2.2 Primary Sources 141
11.3 Author List 142
11.4 Disclaimer 143