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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.
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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.
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Sulfuric Acid Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights
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Key Market Players | DuPont, BASF SE, PVS Chemicals, Agrium Inc., Groupe Chimique Tunisien, Maaden - Saudi Arabian Mining Company, Valero Energy, Chemtrade Logistics Income Fund, Solvay, OCP Group, The Mosaic Company, PotashCorp, INEOS Enterprises, Aurubis, Akzonoble N.V., Lucite International, Climax Molybdenum |
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