Sulfuric Acid Market Analysis:
Sulfuric acid is used in the processing of chemicals to make sulfate salts, pigments, dyes, nitric acid, sulfate salts, and others. It also functions as the electrolyte in the lead acid storage battery. Sulfur acid is used in pharmaceuticals, oil & gas, agriculture, detergents, leather, insecticides, fungicides, and other end-use industries. It is colorless, odorless, & sticky liquid; it is soluble in water; and manufactured in very hot temperature. Sulfur crystals are easily distinguished for their unique and bright color polyhedron forms.
COVID-19 scenario analysis:
- The coronavirus pandemic has negatively affected different businesses, for example, oil & gas, metalworking, and building & construction.
- China is expected to be one of the major markets for solid sulfur. Most of the ceramic factories in China have ceased production due to the pandemic. Many Chinese ceramic makers have also slowed down production.
- Non-availability of migrant labor and inability to access markets due to logistic issues have interrupted certain harvesting activities. Harvesting activities have been majorly affected due to non- availability of migrant labor and inability of farmers to access markets for produce due to transportation issues as all national and international borders are sealed, thereby affecting import and export of goods.
- Fabric production is expected to decrease, owning to decline in exports and stagnation in apparel/home textile production.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
On the basis of raw material, the sulfuric acid market is divided into pyrite ore, elemental sulfur, base metal smelters, and oil & petroleum refineries. Sulfur chemicals are extensively used in the rubber industry for vulcanization of rubber. Vulcanized rubber is used to make rubber hoses, shoe soles, tires, bowling balls, bouncing balls, hockey pucks, toys, and erasers. The growth in the rubber industry is expected to boost the sulfuric acid market growth.
Furthermore, rise in demand for food & beverages is expected to boost the market share across the globe. Sulfur chemicals are widely used in food preservation. In addition, they are used as a food additive to increase the shelf life of food products due to their antioxidant property.
Moreover, increase in demand from agriculture industries and phosphoric acid segments, owing to increase in the cultivation of crops and higher crop yields due to rapid urbanization is expected to foster the market growth. Fertilizers are an essential part of agriculture and offer the soil with nutrients such potassium, phosphate, and nitrogen. The rise in demand for fertilizers, especially in the phosphate segment, is expected to boost the demand for sulfuric acid. Further, it is the main raw material used in commercial phosphate fertilizers.
Sulfuric acid is a chemical compound of sulfur, which is known to pollute the environment. Health and respiratory hazards caused due to sulfuric acid are also expected to hinder the market growth. It involves high cost to extract sulfur from the mining processes. Therefore, this is expected to have a negative impact on for the sulfuric acid market growth.
Surge in usage of sulfuric acid in industrial applications:
Based on region, the sulfuric acid market is segmented into North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific has the largest market share in the global sulfuric acid market, owing to easy accessibility of raw materials and increased developing policies for setting up of production facilities to fulfill the rise in demand for sulfuric acid. North America is also expected to considerably grow, owing to huge fertilizer consumption. Countries, such as the U.S., Canada, Russia, China, Japan, and Saudi Arabia, were the major producers of sulfur. Growth in consumer awareness for cleanliness is expected to be beneficial for the market. In addition, increase in detergents usage has boosted the global market growth. Sulfuric acid, also known as battery acid, is used in diluted form as an electrolyte to allow the flow of electrons between the plates in the battery. Furthermore, it is used in the chemical processing of various chemicals containing hydrochloric acid, nitric acid, phosphoric acid, and many other industrial chemicals.
Key benefits of the report:
- This study presents the analytical depiction of the global sulfuric acid market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the sulfuric acid market share.
- The current market is quantitatively analyzed to highlight the global sulfuric acid market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the sulfuric acid market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Sulfuric Acid Market Report Highlights
By End Use Industry
Key Market Players
Agrium Inc., BASF SE, Aurubis, OCP Group, Akzonoble N.V., DuPont, Valero Energy, PotashCorp, PVS Chemicals, Groupe Chimique Tunisien, Maaden - Saudi Arabian Mining Company, Chemtrade Logistics Income Fund, INEOS Enterprises, Lucite International, The Mosaic Company, Solvay, Climax Molybdenum