The global sulfuric acid market size is expected to reach USD 31.02 billion by 2030 according to a new study by Polaris Market Research. The report “Sulfuric Acid Market Share, Size, Trends, Industry Analysis Report, By Raw Material (Elemental Sulfur, Base Metal Smelters, Pyrite Ore); By Application; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The growing application in various sectors such as agricultural, automotive & transportation, consumer goods, and other end-use industries have increased the demand for sulfuric acid. The product's utilization is growing as it is a vital commodity chemical used to produce phosphoric acid.
Have Questions? Request a sample or make an Inquiry before buying this report by clicking the link below: https://www.polarismarketresearch.com/industry-analysis/sulfuric-acid-market/request-for-sample
Sulfuric acid is one of the most commonly used acids as it has direct and indirect applications in manufacturing various chemical-based products, including fertilizer. The increasing production capacity of phosphate fertilizer and stringent environmental regulations have increased investments in improving manufacturing practices, which is expected to drive the market over the forecast period.
An increase in the number of initiatives carried out by companies such as Outotec, DuPont, and Sumitomo Corporation for expanding their plant facilities, enhancing distribution networks, and expanding processing capacities is anticipated to propel the market.
The growing chemical industry, easy availability of raw materials, and growing developmental strategies, including setting up production facilities to meet the rising demand for sulfuric acid, are the major growth drivers for the market.
Sulfuric acid is used to neutralize organic matter and avoid the liberation of toxic gases, as well as also acting as a catalyst for the breakdown of the material's chemical bonds. Implementing New Source Performance Standards (NSPS) to control sulfuric acid mist and emissions of sulfur dioxide and nitrogen oxides from H2SO4 production facilities have increased, propelling the market's growth.
Additionally, it plays a crucial role in wastewater treatment, manufacturing rayon, harvesting potatoes as a desiccant, augmenting the market's growth.
Sulfuric Acid Market Report Highlights
Polaris Market Research has segmented the sulfuric acid market report based on raw material, application, and region:
Sulfuric Acid, Raw Material Outlook (Revenue - USD Billion, 2018 - 2030)
Sulfuric Acid, Application Outlook (Revenue - USD Billion, 2018 - 2030)
Sulfuric Acid, Regional Outlook (Revenue - USD Billion, 2018 - 2030)