Sulfuric Acid Market is anticipated to worth USD 12.31 billion by 2025
Published | 22 April 2019
According to BlueWeave
Consulting, the Global Sulfuric Acid market is anticipated to worth USD 12.31
billion by 2025, with a CAGR of 3.17% during 2019-2025. Global Sulfuric Acid
Market is projected to exhibit significant growth during 2019-2025, on account
of increasing fertilizer production across the globe.
Sulfuric acid is one of the
most extensively used and produced industrial chemicals in the world. Sulfuric
acid also is known as ‘oil of vitriol’ having molecular formula H2SO4, is a
highly strong corrosive mineral acid. Sulfuric acid is majorly used in the
manufacture of chemicals to make sulfate salts, pigments, dyes, nitric acid, sulfate
salts, and others. It also aids as the electrolyte in the lead-acid battery.
Elemental Sulfur raw material segment dominates the entire sulfuric acid
market, due to the abundant availability of in the market and less polluting as
compared to other raw materials like pyrite ore or base metal smelters. Growing
concerns about high crop yield and superior food quality from the agricultural
sector are anticipated to drive fertilizer market growth, which, in turn, is
likely to trigger the sulfuric acid market.
Moreover, increasing demand
and consumption of sulfuric acid can be attributed to rapid growth in
population size, which is consequently propelling the demand for
infrastructure, food crops, and base metals.
Among
applications, the Fertilizers segment holds the largest market share of the
sulfuric acid market during the forecast period.
The fertilizer segment is
the leading application of the entire sulfuric acid market during the forecast
period 2019-2025, owing to an increase and planned growth in fertilizers using
phosphates. More than 50% of sulfuric acid goes into the manufacturing of
phosphate fertilizers like superphosphate of lime and ammonium sulfate. Rapid
industrialization and development are resulting in the reduction of fertile
land, which in turn is leading the farmers to use fertilizers for increasing
crop yield. Sulfuric acid is also used for the manufacturing of Lead-Acid type
Batteries and Sealed-unit lead-acid type batteries that are used in the
automotive industry for cars and trucks. It is also used in the manufacturing
of chemicals such as hydrochloric acid, nitric acid, phosphoric acid, and many
other industrial chemicals.
The
Asia Pacific accounts for the largest market size in the sulfuric acid market
during the forecast period.
Geographically, Asia Pacific
dominated the overall sulfuric acid market and projected to lead the market
over the forecast period 2019-2025. Owing to the growing agriculture sector,
increasing metal processing activities, coupled with rising awareness about
wastewater treatment, drive the demand for sulfuric acid in this region.
Sulfuric acid is a vital part of nearly all manufactured goods, chemical
syntheses such as hydrochloric acid, nitric acid, sulfate salts, synthetic
detergents, dyes and pigments, explosives, and drugs. Continuous and stable
demand for sulfuric acid due to several end-user applications and rising demand
from the oil & gas industry, wastewater treatment are the factors favoring
the market growth. Furthermore, increasing focus on the agriculture sector of
India to meet the growing demand for food, increasing population, and the
presence of major fertilizer and chemical producing companies located in this
region.
Global
Sulfuric acid Market: Competitive Landscape
Companies such as Mosaic Company,
Chemtrade Refinery, DuPont, AkzoNobel N.V, BASF SE, PVS Chemical Solution,
Solvay, Valero Energy, Potash Corp (PCS Phosphate), Agrium Inc., Indian Farmers
Fertiliser Cooperative Limited (IFFCO), Israel Chemicals Ltd., Rashtriya
Chemicals and Fertilizers Ltd., Zuari Agro Chemicals Ltd. are the leading
players of sulfuric acid market across the globe.
Browse Detailed Analysis
with TOC, “Global Sulfuric Acid Market,
By Raw Material (Elemental Sulfur, Base Metal Smelters, Pyrite Ore, And
Others), By Application (Fertilizers, Chemical Manufacturing, Metal Processing,
Petroleum Refining, Textile Industry, Automotive, Pulp & Paper And Others),
By Region (North America, Europe, Asia Pacific, Middle East & Africa And
Latin America), Price Trend Analysis, Competitive Market Share And Forecast,
2015-2025”
At https://www.blueweaveconsulting.com/global-sulfuric-acid-market-bwc19161
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Related Report
Publish Date: September 2021
Global sulfuric acid market is growing at a high rate because of the driving factors such as expanding usage of fertilizers for increasing agricultural yield and other commercial use such as paper and pulp production, automotive industries in the batteries, metal processing, etc.
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