Industrial Sulfuric Acid Market Research, 2031
The global industrial sulfuric acid market was valued at $4.7 billion in 2021, and is projected to reach $9.6 billion by 2031, growing at a CAGR of 7.7% from 2022 to 2031. Sulfuric acid is widely used in a variety of chemical applications. Sulfuric acid is a common industrial chemical used as a raw material or a processing ingredient. It is utilized in the production of several common chemicals, including sulphate salts, hydrochloric acid nitric acid, synthetic detergents, dyes, and pigments.
Sulfuric acid's key end-use industries are automotive, textile, and petrochemical. Sulfuric acid's most potential applications include the manufacture of semi-conductors, detergents, and disinfectants, among other industrial chemicals. As a result, the industrial sulfuric acid market growth is likely to be driven by the use of sulfuric acid in a variety of sectors.
Sulfuric acid is produced from sulfur dioxide, which is emitted when coal, oil, and gas are burnt. The emitted sulfur dioxide slowly converts to sulfur trioxide, which combines with water vapor in the air to generate sulfuric acid. Sulfuric acid may float in the air for variable amounts of time. Acid rain is created in part by sulfuric acid in the rain. Acid rain poses serious risks to both human health and the environment. Forests and wildlife may suffer severe damage. Nutrients including calcium and magnesium that are necessary for the growth and development of trees and other natural flora are dissolved as a result of it seeping into the ground. Thus, the harmful effects of sulfuric acid are predicted to restrict the sulfuric acid market.
The growing demand for industrial sulfuric acid across fertilizer, mining and metal industry is anticipated to generate excellent opportunities in the market. Additionally, the rising demand from the phosphate fertilizer sector, as well as the increased usage of sulfuric acid in metals and mining applications, are projected to have an influence on the growth of the sulfuric acid market. Due to rising worldwide food demand, the global fertilizer business is expanding rapidly. This rising need for food is driving up demand for fertilizers, which in turn is driving the demand for sulfuric acid. Sulfuric acid is an essential element in the manufacturing of fertilizers, and hence higher demand for fertilizers translates into increased demand for sulfuric acid. The fertilizer industry is predicted to expand in the future years, supporting the expansion of the sulfuric acid industry. Population growth, urbanization, and rising wages are key drivers of this ongoing expansion. All these factors create an excellent opportunity for the market.
The key players profiled in the industrial sulfuric acid market forecast report include The Mosaic Company, BASF SE, OCP Group, Nouryon, DuPont, AkzoNobel N.V., Agrium Inc., PVS Chemical Solution, Khaitan Chemicals & Fertilizers Ltd., and INEOS.
The global industrial sulfuric acid market is segmented on the basis of raw materials, manufacturing process, and region. By raw material, the market is sub-segmented into elemental sulfur, base metal smelters, and pyrite ores. By manufacturing process, the market is classified into contact process, lead chamber process, wet sulfuric acid process, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The industrial sulfuric acid market is segmented into Raw Materials and Manufacturing Process.
By raw materials, the elemental sulfur sub-segment dominated the market in 2021. Sulfuric acid produced from elemental sulfur has less pollutant features than pyrite ores, oil and petroleum refining and base metal smelters. The growing adoption of sulfuric acid in a multitude of sectors is driving the growth of the sulfuric acid market. The processing material used in chemical synthesis will be elemental sulfuric acid. The wide features of sulfuric acid, together with an expansion in medicine manufacturing in pharmaceutical industries, will drive market development. These are predicted to be the major factors affecting the industrial sulfuric acid market size during the forecast period too.
By manufacturing process, the contact process sub-segment dominated the global industrial sulfuric acid market share in 2021. The contact process is a key sulfuric acid manufacturing pathway, accounting for more than 80% of global sulfuric acid output. The contact process leads the global sulfuric acid market for numerous reasons. For starters, it is a very adaptable process that can be tailored to various raw materials and working circumstances. Second, it is an extremely efficient process with minimal environmental effect. Finally, the contact process is well-established and has been utilized professionally for over 100 years.
By region, Asia-Pacific dominated the global market in 2021. The increased demand for Sulfuric Acid from the fertilizer, chemical, and metals and mining sectors is likely to fuel market expansion in this region. China is expected to be the Asia-Pacific region's largest market for sulfuric acid. The country has a huge population and rapid economic growth, which has resulted in increased demand for sulfuric acid from diverse businesses. Because of its rising population and quick economic growth, India is another key market for sulfuric acid in the Asia-Pacific region. The Asia-Pacific region is likely to see considerable rise in sulfuric acid demand from growing economies such as Vietnam, Indonesia, and Thailand. The growing population and quick economic development in these nations are projected to fuel the growth of the sulfuric acid market in this region.
Impact of COVID-19 on the Global Industrial Sulfuric Acid Industry
- The pandemic disrupted the world's supply chain, caused a lack of raw materials and affected sulfuric acid manufacturing. Due to worker shortages or health issues, many manufacturing facilities experienced temporary shutdowns or reduced production capacity.
- The pandemic reduced the demand for sulfuric acid, owing mostly to a drop in demand from the automobile and construction sectors, both of which are important consumers of sulfuric acid. The pandemic slowed these sectors, resulting in a fall in sulfuric acid consumption.
- Prices for sulfuric acid have fallen as demand decreased. Prices of raw materials needed in the manufacturing of sulfuric acids, such as sulphur, have also decreased, resulting in additional price decreases.
- Economic slowdown affected the setup of new industrial sulfuric acid projects across the world as majority of government fundings were diverted towards healthcare sector owing to rapid spread of the COVID-19 virus, impacting the market to the great extent.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the industrial sulfuric acid market analysis from 2021 to 2031 to identify the prevailing industrial sulfuric acid market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the industrial sulfuric acid market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global industrial sulfuric acid market trends, key players, market segments, application areas, and market growth strategies.
Industrial Sulfuric Acid Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 9.6 billion |
 Growth Rate | CAGR of 7.7% |
 Forecast period | 2021 - 2031 |
 Report Pages | 279 |
 By Raw Materials |
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 By Manufacturing Process |
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 By Region |
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 Key Market Players | Lanxess AG, Aarti Industries Limited, AMAL Ltd, Agrium Inc., AURUBIS AG, Q-Acid, Jiangsu Jihua Chemical, KMG CHEMICALS, INC., BASF SE, Veolia |
Analyst Review
One of the largest chemical industries in the world in terms of volume is the manufacturing of sulfuric acid. Additionally, sulfuric acid is utilized in drain cleaning products. Sulfuric acid is also used in the automotive industry. The fertilizer & chemical manufacturing, petroleum refinery, paper & pulp, metal processing, and automotive sectors are expected to grow their demand for sulfuric acid over the coming years because it is used as a catalyst and a dehydrating agent. Rising agriculture concerns about high crop yield and food quality are expected to drive fertilizer industry expansion.
However, lack of skill among the people utilization and handling of sulfuric acid may pose a hazard to the handlers.
Sulfuric acid is utilized in a variety of sectors, including the automotive, metal, and agricultural industries, where it is used as fertilizer. In the metal business, sulfuric acid is mostly used as a cleaning agent to remove corrosion, which serves to expand the sulfuric acid market. All these factors create an excellent opportunity for the market.
Among the analyzed regions, Asia-Pacific is expected to account for the highest revenue in the market by the end of 2031, followed by Europe, North America, and LAMEA. Rapid utilization of sulfuric acid are the key factors responsible for leading position of Europe and Asia-Pacific in the global industrial sulfuric acid market.
The growth of the agriculture sector and the rising demand for food, coupled with the increasing adoption of advanced farming techniques, have increased the demand for fertilizers, which in turn is driving the demand for sulfuric acid. The chemical industry is another major application area for sulfuric acid. It is used in the production of a variety of chemicals such as detergents, pigments, and pharmaceuticals.
The major growth strategies adopted by industrial sulfuric acid market players are investment and agreement.
Asia-Pacific will provide more business opportunities for the global industrial sulfuric acid market in future.
Elemental sulfur sub-segment of the raw materials acquired the maximum share of the global industrial sulfuric acid market in 2021.
Automotive industry leaders and chemicals manufacturers are the major the major customers in the global Industrial Sulfuric Acid market.
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