Global Sulfuric Acid Market

Sulfuric Acid Market Size, Share, Growth Analysis, By Raw Material (Elemental Sulphur, Base Metal Smelters), By Application (Fertilizers, Metal Processing), By Purity, By Grade, By Region - Industry Forecast 2025-2032

Report ID: SQMIG15A2309 | Region: Global | Published Date: November, 2024
Pages: 165 | Tables: 98 | Figures: 76

Sulfuric Acid Market Dynamics

Sulfuric Acid Market 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.

Sulfuric Acid Market 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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FAQs

Global Sulfuric Acid Market size was valued at USD 13.4 billion in 2022 and is poised to grow from USD 14.9 billion in 2023 to USD 38.8 billion by 2031, growing at a CAGR of 11.2% during the forecast period (2024-2031).

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. 'Mosaic (United States) ', 'Nutrien (Canada) ', 'BASF (Germany) ', 'Aurubis (Germany) ', 'IFFCO (India) ', 'Veolia (France) ', 'OCP Group (Morocco) ', 'Rio Tinto Kennecott (United States) ', 'Lanxess AG (Germany) ', 'Jiangxi Copper Corporation (China) ', 'Yunnan Copper (China) ', 'Jinchuan Group (China) ', 'Kailin Group (China) ', 'Mitsubishi Shoji Chemical Corporation (Japan) ', 'Chemtrade Logistics Income Fund (Canada) ', 'Wylton (China) ', 'Lomon Corporation (China) ', 'Xiang Feng Group (China) ', 'Groupe Chimique Tunisien (Tunisia) ', 'Boliden Group (Sweden) '

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

Report ID: SQMIG15A2309

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