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 2024-2031

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 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, particulate matter, and nitrogen oxides from H2SO4 production facilities.

US Sulfuric Acid Market is poised to grow at a sustainable CAGR for the next forecast year.