Global Sulfuric Acid Market is valued at USD 11.61 Billion in 2021 and is expected to reach USD 14.47 Billion by 2028 with a CAGR of 3.2% over the forecast period.
Global Sulfuric Acid Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028- Rising production of nutrition-rich food crops, growing demand in chemical and pharmaceutical industries and rising use of sulphuric acid in food and preservatives sector are major factors anticipated to drive the growth of Global Sulfuric Acid Market.
Sulfuric acid is a strong acid with oxidizing and hygroscopic properties. Sulfuric acid is also a mineral acid having the chemical formula H2SO4. Sulfuric acid is also called mattling acid which has strong acidic nature and corrosive. At higher concentrations, this compound acts as a dehydrating agent and oxidizing agent. It is a syrupy liquid which is colorless with no odour. Sulfuric acid is water-soluble. Sulfuric acid is widely used in fertilizer manufacturing. It is mainly used in wastewater processes and in chemical synthesis. It is a polar liquid and perhaps the most essential heavy industrial chemical, with large-scale uses in a wide range of industries. It is used in making fertilizers, production of steel and iron, in chemical manufacturing industries, in petroleum refining. Also sulfuric acid is used to produce phosphoric acid and as a cleaning agent in industries to remove the rust from steel and iron. Sulfuric acid is used as a catalyst to convert cyclohexanone oxime to caprolactam used to make nylon as well as it is used in lead-acid batteries as an electrolyte, making ammonium sulfate, storage batteries.
The Covid-19 pandemic has shown a negative impact on the growth of the global Sulfuric acid market. During Covid-19 pandemic, the demand is decreased due to the disruptions in supply chain network. The global Sulfuric acid market is affected owing to the production constraints and decline in the demand from end-user industries during pandemic. However, utilization of sulfuric acid is projected to recover post pandemic as supply chain networks improve and industries restart operations.
The global sulfuric acid market is segmented based on raw materials, type, end-users and regions & country level. On the basis of raw materials, the global sulfuric acid market is classified into elemental sulphur, pyrite ore and others. On the basis of type, the sulfuric acid market is classified into dilute sulfuric acid, battery acid, concentrated sulfuric acid, and chamber acid. On the basis of end-users, the market is classified into fertilizer, chemical, pharmaceutical, automotive, petroleum refining and others.
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2028|
|Market Size in 2021:||USD 11.61 Billion|
|Base year considered||2021|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 14.47 Billion|
|Tables, Charts & Figures:||175|
|Sulfuric Acid Comapnies||Akzo Nobel, Honeywell International, Evonik Industries, PotashCorp, Jacobs, DuPont, Aditya Birla Management Corporation, KANTO Corporation, Aurubis AG, Avantor Performance Materials LLC, PVS Chemicals Inc. & others.|
|Segments Covered||By Raw Materials, By Type, By End User|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
On November 16th, 2021; Coromandel Intl announced the project initiation for setting up another 1650 metric tons each day plan limit sulphuric acid plant at its fertilizer complex in Visakhapatnam at an expense of Rs 400 crore. The new sulphuric corrosive plant is being based comparable to universally best technology standards to control emissions. The steam created from the process will likewise be utilized for hostage power generation. The new sulphuric acid plant will build the sulphuric acid creation limit by 5 lakh metric tons for each annum from the current degree of 6 lakh metric tons for every annum, subsequently bringing about a joined limit of 11 lakh metric tons.
On July 28th 2021; BASF, Zhejiang Jiahua Energy Chemical Industry Co. Ltd. its completely- possessed attachment Zhejiang Jiafu New Material Technology Co. Ltd (“Jiafu”) signed an agreement to further expand the product capacity of electronic- grade sulfuric acid in Jiaxing, China. BASF began the construction of its third electronic-grade sulfuric acid (H2SO4 EG) production facility in Zhapu in 2021.
One of the major factors driving the growth of global sulfuric acid market is rising production of nutrition-rich food crops. With the more prominent anticipation of expansion in yield from farmers and diminishing accessibility of fertile land for agricultural works on attributable to developing urbanization, the demand for fertilizers is assessed to increment quickly. Fertilizers are currently an integral part of agriculture and furnish the soil with supplements such phosphate, potassium, and nitrogen. The development of fertilizers, particularly in the phosphate fragment, will boost the demand for sulfuric corrosive which is the key raw material utilized in the assembling of business phosphate fertilizers. For instance; as per the Food and Agriculture Organization of the United States, the world fertilizers utilization is relied upon to arrive at 201.66 million tons before the finish of 2020.
In addition, another major factor fostering the growth of global sulfuric acid market is its rising demand in chemical and pharmaceutical industries. As sulfuric acid is widely used in petroleum refining, as a catalyst in the reaction of isobutane with isobutylene to produce isooctane, a chemical that boosts gasoline's (petrol) octane rating which is also supplementing the market growth and also increasing the use of sulfuric acid as a one of the type of active pharmaceutical ingredients which are commonly used in the chemotherapy. Growing applications in chemical and pharmaceutical industries drives the market of sulfuric acid market. For example; as per the news published on September 30th , 2021, Vertellus signed an authoritative arrangement to acquire organizations of Chemtrade Logistics Income Fund. This acquisition will extend Vertellus' capacities to fabricate and develop specialty ingredients in high-development medical services and pharmaceutical areas.
Furthermore, increasing use of sulfuric acid as a preservative also drives the global sulfuric acid market. Sulfuric acid is used as pH reducer, sulfuric acid creates a more acidic environment that discourages the growth of bacteria and spoilage microbes. For example; sulfuric acid washes or sprays are often applied to the surface of meat or poultry products to prevent the growth of spoilage. These reasons tend to drive the growth of the global sulfuric acid market.
However, toxic nature of sulfuric acid may be fatal if inhaled or swallowed these factors which may hamper the market growth. In spite of that, continuous research and development for endless applications of sulfuric acid can provide various opportunities for the further growth of the global sulfuric acid market.
Asia pacific is expected to emerge as a fastest growing region in the global sulfuric acid market due to the rising demand of sulfuric acid as a fertilizer, increasing population across emerging economies like India and China and presence of key players in this region. India is second country worldwide in farm output, their fore fertilizer used there is cumulative use sulphuric acid. Sulfuric acid is used for making phosphoric acid which used for DAP/ NP/NP and applications like single super phosphate, linear alkyl benzene sulfonate, dye intermediates and ammonium sulphate thus driving the sulphuric acid market during the forecast period. Additionally, the emerging economies like India have a strong industrial base for the production of phosphate fertilizers, which requires requirement for sulphuric acid. For example, as per the news published on June 22nd, 2020, 15t/h sulfur-coated urea fertilizer produced by UAQIANG HEAVY INDUSTRY. It was sulfur coated urea, also known as controlled-release urea; it was a new type of slow-release fertilizer. Thus, use of sulfuric acid as fertilizer and agrochemicals is fuelling the market growth.
North America is projected to capture the largest revenue share in the global sulfuric acid market due to growing technological advancements and presence of key players in this region. For instance; in February 2017, Aurubis AG and Enercity marked an agreement to involve modern waste hotness for the energy supply in the Hamburg area. The heat extricated from the transformation of sulfur dioxide into sulfuric acid will be given to Enercity to energy supply.
Some of the key players for global sulfuric acid market are
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