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.
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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
- Elemental sulfur acquired the largest revenue share in 2021 due to growing demand for sulfuric acid manufactured from elemental sulfur owing to its environmentally-friendly characteristics compared to base metal smelter or pyrite ore.
- The fertilizer segment is anticipated to witness a significant market share in 2021 due to growing demand for the production of sulfuric acid for enhancing the quality of fertilizer.
- Asia Pacific dominated the regional market due to the growing demand for fertilizers in key countries such as India and China.
- Major players operating in the industry include Asia Union Electronic Chemical Corporation (AUECC), Aurubis AG, Avantor Performance Materials, LLC, BASF SE, Boliden Group, Canada Colors and Chemicals Limited, Cornerstone Chemical Company, Hubei Xingfa Chemicals Group Co., Ltd, Ineos Group Ltd, KANTO Corporation.
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)
- Elemental Sulfur
- Base Metal Smelters
- Pyrite Ore
Sulfuric Acid, Application Outlook (Revenue – USD Billion, 2018 – 2030)
- Chemical Manufacturing
- Metal Processing
- Petroleum Refining
- Textile Industry
- Paper & Pulp
Sulfuric Acid, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa