Sulfuric acid is one of the primarily produced chemicals in the world. The outlook for the global sulfuric acid market is expected to exhibit uneven growth patterns during the forecast period owing to stringent regulation and changing norms.
FERTILIZERS SEGMENT DOMINATED WITH OVER 30% SHARE IN 2020.
Sulfur is a crucial raw material to produce nitrogen, phosphate, potassium, and ammonium fertilizers. The production of fertilizers from wet-process phosphoric acid is the major end-use market for sulfuric acid, accounting for over 30% of total world consumption in 2020. Sulfur fertilizers are widely employed across agricultural practices as they boost crop quality and economic returns of fertilizer.
ASIA PACIFIC DOMINATED WITH OVER 35% SHARE.
The Asia Pacific is the major sulfuric acid market. A combination of favourable economic and demographic trend has stimulated a growing appetite for sulfuric acid. Fast evolving trends in the fertilizer and chemical industry are promoting industry growth. China is a prime consumer of sulfuric in the Asia Pacific as well as the world. It is anticipated that the Asia Pacific will consume two-third of the global sulphuric acid. Attributed to foreseen demand, substantial investment is also predicted to catalyse in coming years.
PROMINENT PLAYERS IN THE MARKET:
BASF SE, Chemtrade Logistics, INEOS, Khaitan Chemicals & Fertilizers Limited, Ma’aden, Nouryon, PQ Corporation, PVS Chemicals, Southern States Chemical, and The Mosaic Company.
The global demand for Sulphuric Acid Market is presumed to reach the market size of nearly USD 22.22 BN by 2030 from USD 16.62 BN in 2022 with a CAGR of 3.7% under the study period of 2023 - 2030. Regarding volume, the market was calculated XX Kilo Tons in 2022 and forecast to touch XX Kilo Tons by 2030 with a CAGR of XX% during 2023-2030.
Sulphuric Acid, chemically known as H2SO4, is a strong mineral acid which is soluble in water at all concentrations. It is a very crucial mineral acid used in the chemical industry. It used in various applications as it is one of the extensively produced and consumed commercial chemical across the globe. Sulfuric acid is a colorless and odorless liquid, hence it is also used extensively in the phosphate fertilizer industry.
Market Dynamics
The increasing utilization of sulfuric acid in fertilizers and other specialty and bulk chemicals such as nitric acid, as it is colorless and odorless, is driving the market growth. Moreover, increasing demand for fertilizers, especially phosphate fertilizers owing to rising production of cereals and oilseeds such as wheat, rice, and cotton coupled with growing population is further fueling the market value. However, volatility in prices of raw material may hamper the market demand.
The report has been created by using crucial tools such as Porter's Five Forces Model, Market Attractiveness Analysis and Value Chain analysis to help businesses around the globe navigate opportunities and challenges in the rapidly evolving marketplace with clarity. These tools also serve the detailed information of each application/product segment in the global market of sulfuric acid.
Market Segmentation
The study offers a decisive view of the global sulfuric acid market by segmenting it in terms of application. The report analyzes these subsets with respect to the regional segmentation. This research study will prepare marketers for the evolving needs of their customers.
By Application
- Fertilizers
- Chemical Synthesis
- Wastewater Treatment
- Metal & Mining
- Semi-Conductors
- Others
Regional Analysis
This section covers sulfuric acid market for the regions North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Regional segmentation has been done based on the present and future trends in the global sulfuric acid market along with the individual application segment across all the prominent region.
Global Sulfuric Acid Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the sulphuric acid market include BASF SE, Nouryon, INEOS, Chemtrade Logistics, The Mosaic Company, PQ Corporation, Ma aden, Khaitan Chemicals & Fertilizers Limited, PVS Chemicals, Southern States Chemical. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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