Sulfuric Acid Market was valued at USD 16.46 Billion in 2022, and it is expected to reach USD 35.72 Billion by 2029, exhibiting a CAGR of 11.7% during the forecast period (2023-2029) Sulfuric acid, commonly known as oil of vitriol or hydrogen sulphate, is a caustic, colourless, oily liquid. It is utilised in varying quantities in the production of fertilisers, medicines, and chemicals. The growing usage of smelters to capture sulphur dioxide products can be ascribed to the presence of rigorous environmental rules to regulate emissions. The automotive industry is expected to grow at the fastest CAGR during the forecast period. The increased usage of sulfuric acid in car batteries is expected to drive the automotive application segment in the future years. Factors such as raw material price volatility due to rising demand from phosphate fertiliser producers during a tight supply period, as well as the implementation of various regulations for the production of environmentally friendly products, are expected to have a negative impact on industry growth. During the forecast period, the market is likely to be driven by an increase in the adoption of rules such as New Source Performance Standards (NSPS) to restrict the emissions of sulphur dioxide, sulfuric acid mist, particulate matter, and nitrogen oxides from H2SO4 manufacturing plants.To know about the Research Methodology :- Request Free Sample Report
Sulfuric Acid Market DynamicsGrowing Consumption from Fertilizer Segment Sulfuric acid is an essential industrial chemical used in the production of fertilisers. Approximately half of the world's sulfuric acid is utilised in agriculture and farming, particularly as fertiliser. Sulfuric acid is used in the production of phosphate fertilisers such as lime superphosphate and ammonium sulphate. Sulfuric acid boosts agricultural productivity, allowing farmers to earn more money by growing nutritious crops. The Sulfuric acid is used as a raw material in the manufacture of monoammonium phosphate (MAP) and diammonium phosphate (DAP), both of which are combined with phosphate rock to make phosphoric acid. Farmers worldwide utilise fertilisers containing three key nutrients to boost crop quality and yield: nitrogen, phosphorus, and potassium. Some fertilisers, such as the two-component fertilisers MAP and DAP, provide farmers with an efficient way of supplying nitrogen and phosphorus to soils. Fertilizers replenish the nutrients lost by crops in the soil. Crop yields and agricultural output would be dramatically lowered if fertilisers were not used. As a result, mineral fertilisers are used to augment soil nutrient stocks with minerals that are easily absorbed and utilised by crops. Agriculture is the world's most important source of income; both India and the United States are seeing strong growth in agriculture. Hence, the demand for fertilizers is expected to drive the market during the forecast period. Strong Demand for Sulfuric Acid in Various Industries Because of its widespread use in a variety of chemical applications, sulfuric acid is known as the "king of chemicals." Sulfuric acid is a common industrial chemical used as a raw material or a processing ingredient. It is utilised in the production of several common chemicals, including hydrochloric acid, sulphate salts, nitric acid, phosphoric acid, synthetic detergents, dyes, and pigments. Sulfuric acid's key end-use industries are automotive, petrochemical, metal refining, and textile. Sulfuric acid's most potential applications include the manufacture of semi-conductors, detergents, and disinfectants, among other industrial chemicals. As a result, the market is likely to be driven by the use of sulfuric acid in a variety of sectors. Manufacturing of Sulfuric Acid Products from Elemental Sulfur Elemental sulphur emits less pollution than pyrite ore or base metal smelters and is abundant in the sector. To limit or reduce environmental pollution, several businesses have implemented tight methods to purify produced sulphur gas before releasing it into the sky. Rising development initiatives, such as improving company production capacity to increase the production of sulfuric acid products from elemental sulphur, are likely to drive market expansion. China is the world's biggest producer of pyrites, and the majority of this raw material is used to make sulfuric acid. Manufacturers are likely to adopt stringent steps while mining pyrites for the manufacturing of acid products since they are less environmentally friendly than elemental sulphur. These challenges are expected to stifle expansion in the pyrite ore raw material segment. Sulfuric acid, which is generated as a byproduct of smelters, is imported into Canada and Mexico. The product is imported from the United States. Increasing need for ecologically mandated smelter capacity for sulfuric acid production is expected to boost the market over the forecast period. Growing Production of Industrial Cleaning Agents Rapid industrialization and urbanisation are causing a decline of arable land, forcing farmers to employ fertilisers to increase agricultural productivity. The increasing usage of H2SO4 in the creation of high-quality fertilisers for agricultural applications in order to increase production capacity is expected to drive market expansion. The manufacture of polluted sulfuric acid by petroleum and chemical refineries results in the regeneration of pure and concentrated H2SO4 products. Low emissions from regenerated acids result in lower manufacturing costs, making it sustainable and ecologically benign. Increasing investments in chemical synthesis development efforts in China's chemical manufacturing industry are expected to drive market expansion during the forecast period. The increasing output of industrial cleaning products is likely to propel the sector forward.Restriction on Use of Sulfuric Acid Due to Health and Environmental Concerns Sulfuric acid is formed in the atmosphere from sulphur dioxide, which is emitted during the combustion of coal, oil, and gas. Sulfur trioxide is formed slowly by the emitted sulphur dioxide, which combines with water vapour in the air to generate sulfuric acid. Sulfuric acid can float in the air for a variety of reasons. Acid rain is caused by the presence of sulfuric acid in the rain. Acid rain is extremely destructive to both the environment and human health. It has the potential to be exceedingly damaging to forests and animals. It permeates into the soil and dissolves elements like magnesium and calcium, which are necessary for the growth and development of trees and natural flora. These constraints limit the expansion of the sulfuric acid market. Increasing Use of Sulfuric Acid in Wastewater Treatment Sulfuric acid is essential in wastewater treatment. Wastewater treatment is a technique used to safeguard the environment, and sulfuric acid is the most commonly used chemical to restore the pH level of wastewater. Sulfuric acid aids in the neutralisation of pH levels and the elimination of solid particles such as polymers, alums, and ferric chloride. It also eliminates bacteria that can transmit illnesses and regulates and prevents disagreeable odours prevalent in wastewater. Sulfuric acid is used in chemical treatment to separate water and sludge. Rapid Increase in Price to Hamper the Market Growth In the downstream chemical fertiliser business, sulfuric acid is in high demand. Imported sulphur costs have risen significantly as a result of numerous import regulations. Sulfuric acid costs have been steadily rising since the second half of 2020. The price will rise again in July 2021. China is one of the world's top manufacturers of sulfuric acid. In East China, the average market price of smelting sulfuric acid has risen from USD 15/tonne in 2020 to USD 120/tonne in 2021. As a result, quick price increases may provide a challenge to the market's growth.
Sulfuric Acid Market Segment AnalysisBased on a Raw Material, elemental sulfur segment is expected to dominate the market during the forecast period. The elemental sulfur segment accounted for the largest segment in 2022 in terms of volume. The majority of elemental sulphur is collected from petroleum refineries and natural gas activities. Sulfur is one of the most essential elements utilised as an industrial raw material, especially in the fertiliser and manufacturing industries. Elemental sulphur is an extensively utilised raw ingredient in the production of sulfuric acid. As a result of increased demand for sulfuric acid in different sectors, demand for this segment is likely to rise during the forecast period. Based on Application, fertilizers segment is expected to dominate the market during the forecast period. The liquid sulfuric acid accounted for the largest segment, by electrolyte type in 2022, in terms of value. Sulfuric acid is used in the production of phosphate fertilisers such as superphosphate of lime and ammonium sulphate at a rate of 50%-60%. It is a significant raw material in the processing plant that combines with phosphate rock to produce phosphoric acid and phosphogypsum. All high-quality phosphate fertilisers contain phosphoric acid as an intermediate product. With the increased need for farmers to boost production and the decreasing availability of fertile land for agricultural activities due to urbanisation, demand for fertilisers is expected to rise fast. These are some of the elements that will drive the segment's market.
Regional InsightsDuring the forecast period, the Asian-Pacific region is expected to dominate the sulfuric acid market. The sulfuric acid market has been quickly expanding due to increased demand from the chemical, fertiliser, and other manufacturing sectors in countries such as China, India, and Japan. According to the National Bureau of Statistics of China, sulfuric acid output in China in 2021 was 93.83 million metric tonnes, up from 92.38 million metric tonnes in 2020, representing a 1.5% increase. China's sulfuric acid production output increased further, with a manufacturing capacity of 129 million tonnes in 2022, representing a 1.59% increase over the same period the previous year. In China, the distribution of sulfuric acid manufacturing capacity is unequal. It is mostly found in Southwest, East, and Central China. These areas account for more than 70% of the country's total manufacturing capacity. Companies in China intend to raise sulfuric acid production capacity to 21.08 million tonnes per year. Following the capacity expansion in 2022-2024, the country's sulfuric acid supply pattern is expected to undergo major changes, including increased exports, decreased imports, and changes in products flow.China is the world's greatest producer of fertiliser. According to the National Bureau of Statistics of China, the volume of nitrogen, phosphate, and potash fertiliser produced in China in 2021 was 55.44 million tonnes, up from 54.96 million tonnes in 2020, representing a 0.87% increase. Due to substantial domestic demand from hospitals and the country's massive API production base, China's pharmaceuticals market is the second largest behind the United States on the World Pharma Stage. The Chinese API market has over 7,000 API producers in 2021, a fivefold growth in the previous five years, with a production capacity surpassing 2 million tonnes per year. The sulfuric acid market is projected to benefit from this. Sulfuric acid is commonly utilised in high-capacity batteries in the automobile industry. Sulfuric acid works as an electrolyte in batteries, producing electrons when it reacts with lead to produce voltage. In November 2021, battery-plugged-in electric car sales increased by 106% over the same time in 2020. In November 2021, the country's electric car sales were estimated to be about 413,094 units. Furthermore, the market share climbed to 19%, with all-electric vehicles accounting for 15% and plug-in hybrid vehicles accounting for 4%. In India, the Chief Minister of Odisha launched the groundwork for a sulfuric acid production plant on the premises of the fertiliser cooperative IFFCO's Paradip division in July 2021. The project will cost roughly INR 400 crore, and operations are expected to begin in 2023. This new manufacturing facility will lessen reliance on chemical imports. This is IFFCO's third sulfuric acid manufacturing plant, with a daily capacity of around 2,000 metric tonnes (MT). Furthermore, India is one of the most agriculturally dependent countries. Agriculture continues to be the principal source of income for more than 55% of the population. According to the Economic Survey of India 2020-21 report, total food grain output in the nation was 296.65 million tonnes in FY20, up 11.44 million tonnes from 285.21 million tonnes in FY19. According to the Government of India, the Indian pharmaceutical sector market would be worth USD 130 billion by 2030. Furthermore, India has supplied medicinal items to over 200 nations and may do so in the future. Furthermore, India is the leading supplier of generic medications, meeting 40% of generic drug demand in the United States and 30% in the United Kingdom. A chain of around 10,500 domestic medication producers exists. All of the aforementioned causes are projected to raise sulfuric acid demand in the Asian-Pacific area throughout the forecast period.
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Sulfuric Acid Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2017 to 2022 Market Size in 2022: US $ 16.46 Bn. Forecast Period 2023 to 2029 CAGR: 11.7% Market Size in 2029: US $ 35.72 Bn. Segments Covered: by Raw Material Elemental Sulfur Pyrite Ores Base Metal Smelters Others by Application Fertilizers Metal Processing Pulp & Paper Petroleum Refining Textile Industry Automotive Chemical Manufacturing Others by Grade PPT PPB Others
by RegionNorth America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)
Leading Manufacturers in the Global Sulfuric Acid Market are:1. KANTO Corporation (US) 2. KMG Corporate (US) 3. Cornerstone Chemical Company (US) 4. PVS Chemicals Inc.(US) 5. Kel Chemicals (US) 6. Canada Colors and Chemicals Limited (Canada) 7. Seastar Chemicals Inc (Canada) 8. Aurubis AG (Germany) 9. BASF SE (Germany) 10.Ineos Group Ltd (UK) 11.Linde plc (Ireland) 12.Nouryon (Netherlands) 13.Boliden Group (Sweden) 14.Tata Chemicals (India) 15.Trident Group (India) 16.Hindustan Copper Ltd. (India) 17.Wylton (China) Chemical Co., Ltd. (China) 18.Hubei Xingfa Chemicals Group Co., Ltd (China) 19.Sumitomo Chemical Co., Ltd. (Japan) 20.Tayca Corporation (Japan) 21.UBE Corporation (Japan) 22.Young Poong Co., Ltd. (South Korea) Frequently Asked Questions: 1] What segments are covered in the Global Sulfuric Acid Market report? Ans. The segments covered in the Sulfuric Acid Market report are based on Raw Material and Application. 2] Which region is expected to hold the highest share in the Global Sulfuric Acid Market? Ans. The North America region is expected to hold the highest share in the Sulfuric Acid Market. 3] What is the market size of the Global Sulfuric Acid Market by 2029? Ans. The market size of the Sulfuric Acid Market by 2029 is expected to reach USD 35.72 Bn. 4] What is the forecast period for the Global Sulfuric Acid Market? Ans. The forecast period for the Sulfuric Acid Market is 2022-2029. 5] What was the market size of the Global Sulfuric Acid Market in 2022? Ans. The market size of the Sulfuric Acid Market in 2022 was valued at USD 16.46 Bn.
1. Global Sulfuric Acid Market: Research Methodology 2. Global Sulfuric Acid Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Sulfuric Acid Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Sulfuric Acid Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Sulfuric Acid Market Segmentation 4.1 Global Sulfuric Acid Market, by Raw Material (2022-2029) • Elemental Sulfur • Pyrite Ores • Base Metal Smelters • Others 4.2 Global Sulfuric Acid Market, by Application (2022-2029) • Fertilizers • Metal Processing • Pulp & Paper • Petroleum Refining • Textile Industry • Automotive • Chemical Manufacturing • Others 4.3 Global Sulfuric Acid Market, by Grade (2022-2029) •PPT • PPB • Others 5. North America Sulfuric Acid Market(2022-2029) 5.1 North America Sulfuric Acid Market, by Raw Material (2022-2029) • Elemental Sulfur • Pyrite Ores • Base Metal Smelters • Others 5.2 North America Sulfuric Acid Market, by Application (2022-2029) • Fertilizers • Metal Processing • Pulp & Paper • Petroleum Refining • Textile Industry • Automotive • Chemical Manufacturing • Other 5.3 North America Sulfuric Acid Market, by Grade (2022-2029) •PPT • PPB • Others 5.4 North America Sulfuric Acid Market, by Country (2022-2029) • United States • Canada • Mexico 6. Europe Sulfuric Acid Market (2022-2029) 6.1. European Sulfuric Acid Market, by Raw Material (2022-2029) 6.2. European Sulfuric Acid Market, by Application (2022-2029) 6.3. European Sulfuric Acid Market, by Grade (2022-2029) 6.4. European Sulfuric Acid Market, by Country (2022-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Sulfuric Acid Market (2022-2029) 7.1. Asia Pacific Sulfuric Acid Market, by Raw Material (2022-2029) 7.2. Asia Pacific Sulfuric Acid Market, by Application (2022-2029) 7.3. Asia Pacific Sulfuric Acid Market, by Grade (2022-2029) 7.4. Asia Pacific Sulfuric Acid Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Sulfuric Acid Market (2022-2029) 8.1 Middle East and Africa Sulfuric Acid Market, by Raw Material (2022-2029) 8.2. Middle East and Africa Sulfuric Acid Market, by Application (2022-2029) 8.3. Middle East and Africa Sulfuric Acid Market, by Grade (2022-2029) 8.4. Middle East and Africa Sulfuric Acid Market, by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Sulfuric Acid Market (2022-2029) 9.1. South America Sulfuric Acid Market, by Raw Material (2022-2029) 9.2. South America Sulfuric Acid Market, by Application (2022-2029) 9.3. South America Sulfuric Acid Market, by Grade (2022-2029) 9.4 South America Sulfuric Acid Market, by Country (2022-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 KANTO Corporation (US) 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 KMG Corporate (US) 10.3 Cornerstone Chemical Company (US) 10.4 PVS Chemicals Inc.(US) 10.5 Kel Chemicals (US) 10.6 Canada Colors and Chemicals Limited (Canada) 10.7 Seastar Chemicals Inc (Canada) 10.8 Aurubis AG (Germany) 10.9 BASF SE (Germany) 10.10 Ineos Group Ltd (UK) 10.11 Linde plc (Ireland) 10.12 Nouryon (Netherlands) 10.13 Boliden Group (Sweden) 10.14 Tata Chemicals (India) 10.15 Trident Group (India) 10.16 Hindustan Copper Ltd. (India) 10.17 Wylton (China) Chemical Co., Ltd. (China) 10.18 Hubei Xingfa Chemicals Group Co., Ltd (China) 10.19 Sumitomo Chemical Co., Ltd. (Japan) 10.20 Tayca Corporation (Japan) 10.21 UBE Corporation (Japan) 10.22 Young Poong Co., Ltd. (South Korea)