Sulfuric Acid Market Size Projections Exhibit a CAGR of 11.10%, Likely to Attain a Value of USD 39.53 Billion by 2030
Sulfuric acid market size is anticipated to grow from USD 17.03 Billion to USD 39.53 Billion in 10 years. The demand for sulfuric acid is rising due to its use in the automotive and agricultural industries. Asia Pacific emerged as the largest market for the global sulfuric acid market, with a 34.17% share of the market revenue in 2022.
Newark, Oct. 12, 2023 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 17.03 Billion in 2022 sulfuric acid market will reach USD 39.53 Billion by 2030. Over the projection period, it is predicted that the rising metal processing sector and the need for sulfuric acid (H2SO4) to remove impurities and rust from various metal surfaces, including iron, steel, copper, and aluminium, will favour market growth. Sulfuric acid is a potent mineral acid widely utilised in various industries, including the production of chemicals, fertilisers, metalworking, textiles, pulp & paper, and automobiles. It is sometimes called “oil of vitriol” and comprises sulfur, oxygen, and hydrogen.
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Key Insight of the Sulfuric Acid Market
North America is anticipated to expand at the highest CAGR of 13.26% over the projection period.
North America is expected to grow at the highest CAGR of 13.26% over the forecast period. The rising need for fertiliser in the area can be largely attributed to the market’s expansion. Sulfur was primarily produced in nations like the United States and Canada. The market is predicted to gain from increased consumer awareness regarding hygiene. Additionally, the use of detergents is increasing, boosting the market. Battery acid, a diluted version of sulfuric acid, is used as an electrolyte to facilitate the flow of electrons between the battery plates. All of these factors are projected to support the expansion of the regional market. Additionally, regulatory organisations’ favourable policies encourage market participants to choose to increase sulfur output.
The pyrite ore segment is expected to register the highest CAGR of 14.39% over the projected period in the sulfuric acid market.
The pyrite ore segment is anticipated to grow at the highest CAGR of 14.39% in the sulfuric acid market. When elemental sulfur is not readily available, H2SO4 is produced using this mineral resource. Pyrite is subjected to a procedure known as the “contact process,” which transforms sulfur dioxide gas into sulfur trioxide, which then dissolves in water to create sulfuric acid.
Over the projected period, the chemical manufacturing segment is expected to register the highest CAGR of 14.95% in the sulfuric acid market.
Over the forecasted period, the chemical manufacturing segment is anticipated to grow at the highest CAGR of 14.95% in the sulfuric acid market. One of the most often utilised acids in the chemical industry is H2SO4. It is employed in various manufacturing procedures in a wide range of sectors. This powerful acid is used because of its highly reactive chemical characteristics, which can help produce numerous important compounds. This covers the synthesis of industrial chemicals, including hydrofluoric acid, nitric acid, phosphoric acid, and aluminium sulphate, as well as the manufacturing of plastics and polymers.
|Projected Market Size in 2030||USD 39.53 billion|
|CAGR Growth Rate||11.10%|
|Key Market Players||Aarti Industries Limited,Amal Ltd, Dexo Fine Chem Pvt. Ltd,Aurubis,BASF SE,,Cornerstor,Ineos Enterprises Limited,Oriental Carbon & Chemicals Ltd.,PVS Chemicals Inc.,,Veolia,Jiangsu Jihua Chemical|
|Key Segment||Industry Analysis, Trends, Analysis and Forecas|
|Major Regions Covered||North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa|
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Driver: Increasing applicability across industries
An industrial chemical employed is sulfuric acid, which is necessary to create fertilisers. Sulfuric acid helps farmers produce more productive, more nutrient-dense crops. It can be used as a raw material to make phosphoric acid. Farmers worldwide use fertilisers with essential components to boost crop output and quality. Fertilisers are necessary to ensure crop yields and agricultural output because they replenish nutrients that crops lose. Industrial chemical sulfuric acid is a raw material or a processing ingredient. Numerous popular compounds, including synthetic detergents, dyes, phosphoric acid, nitric acid, and hydrochloric acid, are produced using it. Sulfuric acid is widely used in the automotive, petrochemical, metal refining, and textile industries. This has increased demand in these sectors, the main market drivers. As a result, the global sulfuric acid market is expanding due to these applications from various sectors.
Restraint: Adverse effects on the environment
Sulfur dioxide in the atmosphere reacts with water to generate sulfuric acid. This results from the sulfur dioxide released when gas, coal, and oil are burned. Sulfur trioxide is slowly produced due to sulfur dioxide released from coal, oil, and gas. It has a detrimental effect on market growth and is bad for the environment. When sulfuric acid is present in the rain, acid rain happens. Acid rain can potentially impact both the environment and public health seriously. This can restrict the expansion of the market.
Opportunity: Increasing need for clean water
Sulfuric acid is essential for wastewater treatment. The most typical chemical used to raise the pH of wastewater is sulfuric acid. Sulfuric acid is used in the chemical treatment to separate the water from the sludge. Given that there will be a rise in the demand for clean water in the following decades, this presents a favourable potential for the market.
Some of the major players operating in the sulfuric acid market are:
• Aarti Industries Limited
• Amal Ltd
• Dexo Fine Chem Pvt. Ltd
• BASF SE
• Ineos Enterprises Limited
• Oriental Carbon & Chemicals Ltd.
• PVS Chemicals Inc.
• Jiangsu Jihua Chemical
Key Segments cover in the market:
By Raw Material:
• Pyrite Ore
• Base Metal Smelters
• Elemental Sulfur
• Metal Processing
• Automotive Fertilizers
• Petroleum Refining
• Chemical Manufacturing
• Textile Industry
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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