Global Sulfuric Acid Market

Global Sulfuric Acid Market Size, Share, Growth Analysis, By Raw Material(Elemental Sulfur,Base Metal Smelters), By Application(Fertilizers,Chemical manufacturing) - Industry Forecast 2022-2028


Report ID: SQSG15A2032 | Region: Global | Published Date: August, 2022 | Pages: 165

Global Sulfuric Acid Market Insights

Global Sulfuric Acid Market was valued at USD 11 billion in 2021, and it is expected to attain a value of USD 13.44 billion by 2028, at a CAGR of 2.91% over the prediction period (2022 – 2028).

The sulfuric acid market is estimated to rise due to rising demand for the product from the fertilizer, chemical manufacturing, paper & pulp, petroleum refinery, metal processing, and automotive industries for use as a catalyst, dehydrating agent, and reactant. Growing concerns from the agricultural sector about high crop yield and excellent food quality are anticipated to drive the fertilizer market's expansion, which is then likely to spark the sulfuric acid market.

Over the forecast period, the automotive industry is expected to advance at the highest CAGR. In the upcoming years, it is anticipated that increased use of sulfuric acid in automotive batteries will stimulate the automotive application segment.

The implementation of various regulations for the production of environmentally friendly products and the volatility in raw material prices as a result of rising demand from phosphate fertilizer producers during a period of limited supply are expected to have a negative impact on the industry's growth. The market for H2SO4 is expected to grow due to an increase in the adoption of standards like New Source Performance Standards (NSPS) to control the emissions of sulfur dioxide, sulfuric acid mist, particulate matter, and nitrogen oxides from H2SO4 production facilities.

Market snapshot

Global Market Size

USD 11 billion

Largest Segment

elemental sulfur

Fastest Growth

pyrite ore

Growth Rate

2.91% CAGR

Global Sulfuric Acid Market, 2021-2028 ($ Bn)
Country Share for Asia-Pacific Region- 2021 (%)
Global Sulfuric Acid Market Size By Raw Material 2021-2028 ($ Bn)
Global Sulfuric Acid Market Size By Raw Material, 2021-2028 (%)

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Global Sulfuric Acid Market Segmental Analysis

The global sulfuric acid market is segmented based on raw material, application, and region. Based on raw material, the sulfuric acid market is segmented into elemental sulfur, base metal smelters, pyrite ore, and other. On the basis of application, the market can be bifurcated into fertilizers, chemical manufacturing, metal processing, petroleum refining, textile industry, automotive, paper & pulp, and other. The regional insights of the market are into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa.

Analysis by Raw Material

The raw materials containing elemental sulfur saw significant sulfuric acid market share gains and is projected to grow at the fastest rate during the forecast period. In comparison to pyrite ore or base metal smelters, the raw material is less polluting and is widely used in the sector. Numerous businesses have implemented strict measures to treat the released sulfur gas before releasing it into the atmosphere in an effort to reduce or stop environmental pollution.

The majority of the pyrites produced in China, which is the world's top producer, are used to make sulfuric acid. Since pyrites are less environmentally friendly than elemental sulfur, manufacturers are likely to take strict measures when mining them for the creation of acid products. The growth of the raw pyrite ore market is likely to be hampered by these factors.

Analysis by Application

The significant application segment was fertilizers, which generated about 54% of the sulfuric acid market's overall revenue. Global population growth and rising crop quality demand are expected to drive sulfuric acid market growth over the coming years. The loss of arable land brought on by rapid industrialization and urbanization is forcing farmers to use fertilizers to boost crop yield. Market expansion is expected to be fueled by rising H2SO4 use in the production of high-quality fertilizers for use in agriculture.

The majority of the production of tainted sulfuric acid, which leads to the regeneration of pure and concentrated H2SO4 products, occurs in chemical and petroleum refineries. Low emissions from the regenerated acids result in lower production costs, making it sustainable and environmentally friendly.

Global Sulfuric Acid Market Size By Raw Material, 2021(%)

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Global Sulfuric Acid Market Regional Insights

With about 46% of the total revenue, Asia Pacific was the largest regional segment. The region's sulfuric acid product offerings are expected to grow as a result of rising sulfur production in China and Japan. Over the forecast period, an increase in H2SO4 demand from the Philippines and Indonesia is predicted to boost the Asia Pacific region market. Sulfuric acid prices are rising as a result of the region's expanding demand for the substance. Over the next few years, the sulfuric acid market is expected to grow as a result of increased demand for phosphate fertilizer due to the expanding fertilizer industry and strict environmental regulations governing the production of environmentally friendly products.

China's market is expected to expand as a result of rising demand from the industrial and phosphoric acid sectors brought on by increased crop cultivation and higher crop yields. Regional market expansion is projected to be fueled by China's growing exports to India and the Philippines. Over the upcoming time frame, the market is anticipated to grow as a result of the expanding supply of H2SO4 products coming from Saudi Arabia and Morocco.

Global Sulfuric Acid Market By Geography, 2021 - 2028
  • Largest
  • Fastest

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Global Sulfuric Acid Market Dynamics

Driver

  • The agriculture industry must produce more with less waste due to the expanding population, shrinking agricultural land, and rising demand for nutrient-rich food crops. The agricultural industry has demanded the best fertilizers in order to get the best yield, which is driving the growth of the sulfuric acid market. Due to its high demand in the metal processing and automotive industries, sulfuric acid has a wide range of uses.
  • In many different industries, including fertilizers, paper and pulp, petroleum efficiency, chemical manufacturing, automotive, and metal processing, sulphuric acid functions as a dehydrating agent, catalyst, and reactant. This increases demand for the product and boosts market growth. Market expansion is being driven by the increased demand for sulphuric acid used in the manufacture of phosphate fertilizers.

Restraint 

  • The excess supply of materials hinders the sale of sulfuric acid, which is limiting market expansion. Chemical industries are subject to strict regulations because of the serious side effects and environmental pollution they cause. Sulfuric acid is a dangerous substance that is subject to strict regulation.

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Global Sulfuric Acid Market Competitive Landscape

The top players are concentrated on expansion tactics such as teaming up with successful individuals and national initiatives or programmes that advertise their goods. Key development strategies, market share analysis, and market ranking analysis of the players globally are also included in the competitive landscape section.

Top Players in the Global Sulfuric Acid Market 

  • Agrium (Canada)
  • Akzo Nobel (Netherlands)
  • Bayer (Germany)
  • Bp (UK)
  • Chevron (US)
  • Cytec Industries (US)
  • Dupont (US)
  • Evonik Industries (Germany)
  • Honeywell (US)
  • Solvay (Belgium)

Recent Developments

  • In October 2021, at its sulfuric acid plant in Gent, Belgium, PVS Chemicals Belgium N.V. (PVS) officially started using the most recent MECS® converter and steaming equipment that DuPont Clean Technologies has approved. The most recent 4-pass converter replaces two parallel converter trains and increases sulfuric acid production capacity at the plant to over 300 mtpd.
  • In October 2021, two projects for sulfuric acid plants were made available to Nuberg EPC in Gamasa City, Egypt, and Oromia, Ethiopia. The 500 million tpd and 5 M.W. Rating STG Set in Egypt and the 50 tpd Sulfuric Acid and 40 tpd Aluminum Sulfate Revamp Project in Ethiopia were awarded on an EPC and LSTK basis.

Global Sulfuric Acid Key Market Trends

  • Pesticides and cleaning supplies made with sulfuric acid are extremely important in a pandemic situation. In a pandemic situation, cleaning is crucial, and demand for cleaning supplies is on the rise. Thus, this pandemic is causing additional growth in the sulphuric acid market. However, a slight slowdown in growth rate can be seen as a result of the worldwide national lockdowns. The government lifts the lockdown following the decline in corona cases, and sales and demand quickly resume.

Global Sulfuric Acid Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analysis, the global sulfuric acid market is segmented based on raw material, application, end-user and regions. The raw materials containing elemental sulfur saw significant market share gains and is projected to grow at the fastest rate during the forecast period. The significant application segment was fertilizers, which generated about 54% of the market's overall revenue. Global population growth and rising crop quality demand are expected to drive sulfuric acid market growth over the coming years. With about 46% of the total revenue, Asia Pacific was the largest regional segment. The region's sulfuric acid product offerings are expected to grow as a result of rising sulfur production in China and Japan.

Report Metric Details
Market size value in 2021 USD 11 billion
Market size value in 2028 USD 13.44 billion
Growth Rate 2.91%
Base year 2021
Forecast period 2022 – 2028
Forecast Unit (Value) USD Billion
Segments covered
  • Raw Material
    • Elemental Sulfur, Base Metal Smelters, Pyrite Ore, Others
  • Application
    • Fertilizers, Chemical manufacturing, Metal processing, Petroleum refining, Textile industry, Automotive, Paper & pulp, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Agrium (Canada)
  • Akzo Nobel (Netherlands)
  • Bayer (Germany)
  • Bp (UK)
  • Chevron (US)
  • Cytec Industries (US)
  • Dupont (US)
  • Evonik Industries (Germany)
  • Honeywell (US)
  • Solvay (Belgium)
Customization scope

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Sulfuric Acid Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Sulfuric Acid Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Sulfuric Acid Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Sulfuric Acid Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Sulfuric Acid Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Sulfuric Acid Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQ's

Global sulfuric acid market was valued at USD 11 billion in 2021, and it is expected to attain a value of USD 13.44 billion by 2028, at a CAGR of 2.91% over the prediction period (2022 – 2028).

The top players are concentrated on expansion tactics such as teaming up with successful individuals and national initiatives or programmes that advertise their goods. Key development strategies, market share analysis, and market ranking analysis of the players globally are also included in the competitive landscape section.'Agrium (Canada)','Akzo Nobel (Netherlands)','Bayer (Germany)','Bp (UK)','Chevron (US)','Cytec Industries (US)','Dupont (US)','Evonik Industries (Germany)','Honeywell (US)','Solvay (Belgium)'

The agriculture industry must produce more with less waste due to the expanding population, shrinking agricultural land, and rising demand for nutrient-rich food crops. The agricultural industry has demanded the best fertilizers in order to get the best yield, which is driving the growth of the sulfuric acid market. Due to its high demand in the metal processing and automotive industries, sulfuric acid has a wide range of uses.

Pesticides and cleaning supplies made with sulfuric acid are extremely important in a pandemic situation. In a pandemic situation, cleaning is crucial, and demand for cleaning supplies is on the rise. Thus, this pandemic is causing additional growth in the sulphuric acid market. However, a slight slowdown in growth rate can be seen as a result of the worldwide national lockdowns. The government lifts the lockdown following the decline in corona cases, and sales and demand quickly resume.

With about 46% of the total revenue, Asia Pacific was the largest regional segment. The region's sulfuric acid product offerings are expected to grow as a result of rising sulfur production in China and Japan. Over the forecast period, an increase in H2SO4 demand from the Philippines and Indonesia is predicted to boost the Asia Pacific region market. Sulfuric acid prices are rising as a result of the region's expanding demand for the substance. Over the next few years, the sulfuric acid market is expected to grow as a result of increased demand for phosphate fertilizer due to the expanding fertilizer industry and strict environmental regulations governing the production of environmentally friendly products.

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Global Sulfuric Acid Market

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