Sulfuric Acid Market to Surpass a Valuation of US$ 40,650.2 Bn by 2032 Owing to the Growing demand of Fertilizer: ChemView Consulting

Sulfuric Acid Market Overview

According to a recent survey conducted by ChemView Consulting, the Global Sulfuric Acid  Market grew at a CAGR of 2.6% between 2017-2021 and is estimated to be US$ 19,547.1 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 3.2 % and is expected to reach a valuation of US$ 26,784.2 Mn by 2032 end.

Throughout the projected period, Sulfuric acid is one of the primary chemicals used in agriculture and manufacturing. It is also used as a fuel additive in automobiles, and its production is expected to increase during the forecast period.

ChemView Consulting has analyzed that Sulfuric acid is colorless, odorless, and hygroscopic in nature. It contains components such as sulfur, oxygen, and hydrogen. Sulfuric acid is soluble and miscible in water.

The rapid acceptance of sulfuric acid makes it one of the most widely used acids worldwide. The use of sulfuric acid is largely due to its high value and low cost. Sulfuric acid is also used as an intermediate in other processes such as the production of dyes, fungicides, herbicides, and pesticides.

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Segments Covered in Report

By Purity Type:

  • Standard
  • Ultra-Pure

By Raw Materials:

  • Elemental Sulfur
  • Base Metal Smelters
  • Pyrite Ores
  • Others

By Application:

  • Fertilizers
  • Petroleum Refining
  • Metal Production & Processing
    • Steel Pickling
    • Copper Production
    • Metal Surface Cleaning
    • Others
  • Wastewater Treatment
  • Chemicals Production
  • Textile Processing
  • Pulp & Paper Production
  • Semiconductor & Electronics
    • Battery Electrolyte
    • Integrated Circuit Components Fabrication
    • Photovoltaic Cells
  • Pharmaceuticals
  • Domestic Cleaning Products
  • Others

By Region and Country:

  • North America (U.S., Canada)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
  • Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
  • Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Key Takeaways from the Sulfuric Acid Market

  • Based on the Raw Materials, Elemental sulfur is the most widely used. It is mainly recovered from petroleum refineries and natural gas operations. Sulfur ranks as one of the most important elements used as an industrial raw material and is of prime importance to the fertilizer and manufacturing industries. Elemental sulfur is one of the widely used raw materials in the manufacturing of sulfuric acid Based on the application, At 55.0% of the market, Fertilizers had the greatest revenue share. Sulfuric acid is a key raw material that reacts with phosphate rock in the processing plant to generate phosphoric acid and phosphogypsum. Phosphoric acid is formed as an intermediary product in the production of all high-grade phosphate fertilizers.
  • Based on Region, the Asia Pacific market held a sizeable revenue share of 48.5%.  the rapid expansion of the chemical industry, growing demand for metals and car batteries, increasing usage of mineral acids, and large presence of leading sulfuric acid manufacturers are anticipated to further expand the sulfuric acid market size in China during the forecast period.

Competition Summary

Key companies covered in the market study are BASF SE, Ineos Group Ltd, KANTO Corporation, Aurubis AG, Avantor Performance Materials, LLC, PVS Chemicals Inc., Seastar Chemicals, KMG Chemicals, Qingdao Hisea Chem Co.Ltd, Linde Group, Nouryon,  Cornerstone Chemical Company, Ma’aden – Saudi Arabian Mining Company, Canada Colors and Chemicals LimitedHubei Xingfa Chemicals Group Co., Ltd, Asia Union Electronic Chemical Corporation (AUECC), Tata Chemicals, Trident Group, Boliden Group.

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Report Key Highlights and Coverage

  • Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
  • Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
  • The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
  • Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
  • Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
  • Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
  • Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
  • Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
  • Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
  • Strategic market analysis, recommendations, and future headways on crucial winning strategies.

About ChemView Consulting

ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have been collaborating with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.

What sets ChemView Consulting apart?

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