Market Synopsis
The global sulfuric acid market size 2022 is poised to witness remarkable growth and mature at a CAGR of approximately 2.76% over the review period.
Market Highlights
Globally, the demand for sulfuric acid is one of the most for the manufacturing of industrial chemicals. The engines for sulfuric acid demand are the car industry and chemical manufacturing. There is a significant volume of sulfuric acid in the batteries used in the car industry. In addition, the market for sulfuric acid is increasing its demand because of industrial cleaning agents, as sulfuric acid is also used in cleaning agent and drain cleaner. Agricultural economies are of more considerable significance in this region, as fertilizer production is considered a major concentrated field for sulfuric acid use. Rising demand for fertilizer to achieve the higher yield in agriculture has had a considerable effect on this sector over the past few years and projected its uplifted use in the years to come. Over the last few years, strong demand in the cement sector has risen considerably. Hydrogen fluoride is a sulfuric acid by-product that is used in different applications, and this should help the development of the sulfuric acid industry. Nevertheless, fluctuations in the prices of raw materials and increased use of phosphate-based fertilizer have restricted this market's growth potential.
Market Segmentation
The global sulfuric acid market, by type, has been divided into dilute battery acid, concentrated sulfuric acid, sulfuric acid, and chamber acid.
The global sulfuric acid market, by application, has been segmented into metal processing, phosphate fertilizers, pulp, and paper industry, and other applications.
Regional Overview
The region-based global sulfuric acid industry was segmented into four main regions-North America, Asia Pacific , Europe, and the rest of the world.
China is the leading source of pyrites at APAC, and the most important portion of this raw material is used for the production of sulfuric acid. Provided expanded crop production and higher crop yields, increased demand from the industrial and phosphoric acid sectors is projected to fuel market growth in China. The hope is that increasing exports from China to India and the Philippines would boost regional demand growth. These countries have abundant sources of sulphuric acid traded on the market, owing to the proliferation of base metal smelters in Japan and South Korea. The producers are likely to take strict steps for the manufacturing of acid goods for mining pyrites since they are less environmentally safe relative to elemental sulfur. These factors are likely to hamper the growth of the raw material segment of pyrite ore. Increasing Chinese and Japanese sulfur demand is projected to propel sulfuric acid product offerings in this area. Growing demand from the Philippines and Indonesia for food grade sulfuric acid is projected to fuel the regional market in the Asia Pacific over the prognosis period. Sulfuric acid prices are stepping up due to increasing demand in the Asia Pacific for the drug. Increasing the need to increase the production of phosphate fertilizer due to the increasing fertilizer industry and stringent environmental legislation on the manufacture of environmentally safe products is projected to fuel the demand in the years to come.
Canada and Mexico are North American importers of sulfuric acid, which is composed of by-products from smelters. The drug is imported into the USA. Increasing demand for the environmentally needed smelter capacity for the processing of sulfuric acid is projected to propel the industry over the prognosis period.
The growing supply of H2SO4 products in Saudi Arabia and Morocco is projected to fuel demand in the rest of the world market over a predictable timeframe. An increase in the number of acid plants to meet consumers' growing demand, along with the increasing supply of sulfur-burnt acids in the Middle East, is projected to fuel the market between 2017 and 2025.
Competitive Dashboard
PVS Chemical Solutions, Akzo Nobel, Evonik Industries, Bayer, Bp, Chevron, Cytec Industries, Dupont, Honeywell and Solvay, Chemtrade Agrium, Logistics and among others are Some of the prominent players in the global sulfuric acid market at the forefront of the competition and are profiled in MRFR Analysis.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Contact:
Market Research Future
Office No. 524/528, Amanora Chambers
Magarpatta Road, Hadapsar
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: [email protected]
