Global Sulfuric Acid Market By Raw Materials (Base Metal Smelters, and Others), By Application (Fertilizers, Chemical Manufacturing, and Others), By Region and Companies- Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview:

The global sulfuric acid market was valued at USD 13.5 Bn in 2022. It is expected to experience an 8.3% CAGR over the forecast period of 2023-2032 and has a value of USD 29.4 Bn in 2032.

The increasing use of sulfuric acid in the agriculture and automobile sectors is responsible for the rising demand. Because of its direct & indirect use in the manufacturing of many chemicals, including fertilizers, sulfuric acid has been called “the king” of acids.

Sulfuric acid, a mineral composed of sulfur, hydrogen, and oxygen, has the molecular formula H₂SO₄. It is an insoluble chemical that is colorless and odorless. It is a strong acidic chemical with dehydrating and oxygenizing properties.

This makes it useful in many industries, including agricultural, transportation, and consumer goods. It’s made from sulfur dioxide and some ferrous sulfate wastewater solutions. It’s produced by two major processes, the contact process and the lean chamber.

The sulfuric acid market growth has been driven by stringent government regulations and stricter emission control rules. The market is expected to grow over the forecast period due to increased product demand for a catalyst, dehydrating, and reactant in fertilizers and paper & pulp, as well as chemical manufacturing, metal processing, and petroleum refinery. Industry growth has been aided by higher demands for sulfate, nitric, hydrochloric, synthetic detergents and dyes & colors, as well as other drugs.

Raw Material Analysis:

Elemental sulfur is preferred as it causes less pollution.

Based on raw materials, the global sulfuric acid market is segmented into base metal smelters, elemental sulfur, pyrite ores, and others. Out of these segments, the elemental sulfur segment dominated the market in 2022 and is expected to register the highest growth during the forecast period.

This is because the emission from elemental sulfur is lower than that from base metal smelters or pyrite ore. There are many raw materials available. Sulfuric acid produced by sulfur is less polluting than base metal smelting or roasting pyrite ore, which requires businesses and factories to follow rigorous procedures to remove the sulfur oxide gas from the atmosphere.

The sulfuric acid market growth will be stimulated by increasing development activities like boosting the production capabilities of companies to produce sulfuric acid from elemental sulfur. This segment has also seen growth because elemental sulfur has been used as a rodenticide, insecticide, soil amendment, and repellent to lower soil pH.

Application Analysis:

The fertilizer industry requires more than half of the global sulfuric acid.

Based on applications, the v market is divided into fertilizers, chemical manufacturing, metal processing, refining, textile, automotive, and others.

The fertilizers segment dominated the market in 2022 with about 58% of the sulfuric acid market share. Most of which goes into producing phosphate fertilizers. The sulfuric acid is useful to produce phosphoric acid and phosphogypsum when reacted with phosphate rock.

This phosphoric acid is a major component in manufacturing high-quality phosphate fertilizers. The market will be boosted by rising demand for better quality crops and a growing global population over the next few years. Rapid industrialization and urbanization have led to a reduction in arable land.

This is causing farmers to use fertilizers to increase crop yield. Market growth is expected to be driven by the increasing use of H₂SO₄ to produce quality fertilizers for agricultural purposes to increase production capacity.

The refining segment is also expected to have decent growth during the forecast period. Petroleum and chemical refineries play a large role in the production and regeneration of concentrated and pure H₂SO₄ products. Regenerated acids produce low emissions, which reduces production costs and makes them more sustainable and eco-friendly.

The sulfuric acid market growth is expected to be driven by increasing investments in chemical synthesis research. Industry growth will be stimulated by the increasing production of industrial cleaning chemicals.

It is used extensively in metal processing, such as in the manufacture and use of copper and zinc, and in cleaning the steel sheet’s surface, also known as “pickling,” before it is covered with a thin layer of tin used to make food cans.

Lead acid batteries are made primarily from sulfuric acid, which is used in the manufacture of automobiles and electric cars, which drives the growth of the automotive segment.

The textile industry uses sulfuric acid to make rayon, a semi-synthetic, breathable fabric that is ideal for humid and hot climates, which is very helpful for the market’s growth in tropical and subtropical regions.

Key Market Segments:

Based on Raw Material:

• Base Metal Smelters
• Elemental Sulfur
• Pyrite Ores
• Others

Based on Application

• Fertilizers
• Chemical Manufacturing
• Metal Processing
• Refining
• Textile
• Automotive
• Others

Driving Factors:

Fertilizers are the major factor in the sulfuric acid market’s growth.

• Sulfuric acid, an industrial chemical essential for the production of fertilizers, is also used as an industrial chemical. Over half of the world’s sulfuric acids are used in agriculture and farming, primarily as fertilizer. Producing phosphate fertilizers like lime superphosphate or ammonium sulfurate is where sulfuric acid is used.
• Sulfuric acid increases agricultural productivity and allows farmers to grow more nutritious crops. It can be used as a raw ingredient in the production of phosphoric acid. To increase crop yield and quality, farmers worldwide use fertilizers that contain essential nutrients. Fertilizers replenish nutrients that are lost from crops and are essential to ensure crop yields and agricultural output.
• Mineral fertilizers are used as soil nutrient stock supplements with minerals that can be easily absorbed by crops. Agriculture is the largest source of income in the world. Both India and the United States are experiencing strong agriculture sector growth. Therefore, the forecast period will see strong demand for fertilizers, which will fuel the market’s growth.

Sulfuric acid has been used in a number of sectors.

• Sulfuric Acid is an industrial chemical that can be used as a raw material or as a processing ingredient. It is used in the manufacture of many common chemicals, such as hydrochloric acid, nitric acid, phosphoric acid, synthetic detergents, and dyes.
• Automotive, petrochemicals, metal refining, and textile are some key industries that use sulfuric acid. Among other industrial chemicals, the most promising uses of sulfuric acid include the production of detergents, semiconductors, and disinfectants. The sulfuric acid market will be driven by sulfuric acid’s use in many sectors.

Cleaning products need sulfuric acid.

• Regeneration of concentrated and pure H₂SO₄ products is possible through the use of petroleum and chemical refineries to make polluted sulfuric acids. Regenerated acids have lower emissions, which makes them more sustainable and environmentally friendly.
• The sulfuric acid market expansion is expected to be driven by increased investments in China’s chemical synthesis development efforts. The chemical industry is expected to grow due to the increasing production of industrial cleaning products.

In curing cancer, sulfuric acid is a key factor.

• Because it is harmful to the DNA of cancerous cells, sulfuric acid is used in the manufacture of chemotherapy drugs. Sulfuric acid can treat a variety of skin conditions, including canker sores that are caused by stress, acidic foods, and minor trauma. It is also used in skin ointments. These beneficial uses of sulfuric acid in healthcare are expected to impact the sulfuric acid market’s growth.

Restraining Factors:

The high cost of raw materials and acid rain possibilities is the major drawback for the sulfuric acid market.

• Sulfuric acid is formed from sulfur dioxide in the atmosphere. This is due to the emitted sulfur dioxide during the combustion of oil, coal, and gas. Slowly, sulfur dioxide emitted from coal, oil, and gas creates sulfur trioxide. This combines with water vapor to produce sulfuric acid. There are many reasons why sulfuric acid may float in the atmosphere.
• Acid rain is caused when sulfuric acid is present in the rain. Acid rain can be extremely harmful to the environment as well as human health. Acid rain can cause severe damage to trees and animals. It penetrates the soil and dissolves minerals like magnesium and calcium, which are essential for the growth and development of trees and other natural flora. These restrictions limit the growth of the sulfuric acid industry.
• Sulfuric acid is highly in demand in the downstream chemical fertilizer industry. Numerous import regulations have led to significant increases in the cost of imported sulfur. Since the second half of 2020, sulfuric acid prices have been rising steadily. The sulfuric acid market growth may be impeded by rapid price increases.

Growth Opportunities:

Clean water requirements create ample amount of opportunities in the future.

• In wastewater treatment, sulfuric acid is vital. Sulfuric acid is the most common chemical used to improve the pH of the wastewater. Wastewater treatment is a method to protect the environment. Sulfuric Acid aids in neutralizing pH levels and eliminating solid particles like polymers, alums, and ferric chloride.
• It kills bacteria that can transmit diseases and regulates and stops unpleasant odors in wastewater. The chemical treatment uses sulfuric acid to separate water from sludge. This creates a good opportunity for the sulfuric acid market in the future as the demand for clean water is going to increase in the coming years.

COVID-19 Impact Analysis:

COVID-19 has had a devastating impact on the sulfuric acid market.

• Due to disruptions in supply chains and restrictions on transport worldwide, the demand for the product fell dramatically. Many companies involved in the automotive and paper & pulp, metals, petroleum, and other industries sustained huge losses that led to a drop in demand for products made with sulfuric Acid.
• To stabilize the market environment and encourage growth, governments have taken steps to reduce taxes as well as fiscal deficits.

Regional Analysis:

Asia Pacific is the largest market by far.

By region, the sulfuric acid market is divided into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East & Africa.

Asia Pacific accounted for the largest revenue share, i.e., approximately 43.5% of total revenue in 2022. The region’s sulfuric acid product offerings will be boosted by the increasing production of sulfur from China, Japan, and other countries. Over the forecast period, Asia Pacific’s market will see a rise in demand for H₂SO₄, especially from India, the Philippines, and Indonesia.

Due to rising demand in Asia Pacific, the prices of sulfuric acid have been increasing. The sulfuric acid market will see an increase in demand for phosphate fertilizer as a result of the rising fertilizer sector and strict environmental regulations regarding the manufacture of environmentally-friendly products.

The market growth in China is expected to be driven by rising demand from the industrial and phosphoric acid industries due to higher crop yields and increased cultivation. Regional market growth will be driven by rising exports from China to India and the Philippines.

The European and North American sulfuric acid markets are expected to grow due to the increased use of sulfuric acid in chemical manufacture, textile, and other industries. Technological advances are increasing the use of sulfuric acid within these regions, which is leading to high market growth.

Due to increasing urbanization and industrialization, sulfuric acid will see a high market share in Latin America and the Middle East & Africa. These regions will see a rise in applications such as textiles, chemical manufacturing, and metal processing.

Кеу Regions and Countries Covered іn thе Rероrt:

• • North America
    • The US
    • Canada
    • Mexico
  • Western Europe
    • Germany
    • France
    • The UK
    • Spain
    • Italy
    • Portugal
    • Ireland
    • Austria
    • Switzerland
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • The Czech Republic
    • Greece
    • Rest of Eastern Europe
  • APAC
    • China
    • Japan
    • South Korea
    • India
    • Australia & New Zealand
    • Indonesia
    • Malaysia
    • Philippines
    • Singapore
    • Thailand
    • Vietnam
    • Rest of APAC
  • Latin America
    • Brazil
    • Colombia
    • Chile
    • Argentina
    • Costa Rica
    • Rest of Latin America
  • Middle East & Africa
    • Algeria
    • Egypt
    • Israel
    • Kuwait
    • Nigeria
    • Saudi Arabia
    • South Africa
    • Turkey
    • United Arab Emirates
    • Rest of MEA

Market Share & Key Players Analysis:

The sulfuric acid market is highly concentrated and competitive. Among the few major players are DuPont and AkzoNobel N.V. BASF SE, BASF SE., AkzoNobel N.V. PVS Chemical Solution, Chemtrade Logistics, and Agrium Inc.

These companies are mainly involved in the production of sulfur and its byproducts for various applications, such as fertilizers and chemical manufacturing, petroleum refining, and other related industries. Many companies are involved in mergers, acquisitions, and joint ventures in order to increase their product range and gain a significant market presence.

The major players are KMG Chemicals, BASF S.E., Dupont de Nemours, Inc., PVS Chemicals Inc., Chemtrade Logistics, Jacobs, Hecheng Chemical, Shandong Lubei Chemical, Boliden Group, Aurubis AG, Trident Group, Zhejiang Jiahua Energy Chemical Industry Co., Linde Group, Ineos Group Ltd, Kanto Corporation and Other Key Players.

Top Key Players :

• BASF S.E.
• Dupont de Nemours, Inc.
• PVS Chemicals Inc.
• Chemtrade Logistics
• Jacobs
• Hecheng Chemical
• Shandong Lubei Chemical
• Zhejiang Jiahua Energy Chemical Industry Co.
• KMG Chemicals
• Boliden Group
• Aurubis AG
• Trident Group
• Linde Group
• Ineos Group Ltd
• Kanto Corporation
• Other Key Players

Recent Key Developments:

• Chemtrade Logistics Income Fund announced in July 2022 that Kanto Group and Chemtrade Logistics Income Fund would form a joint venture for the greenfield construction of a high-purity sulfuric acid plant. They will jointly build a sulfuric acids plant in Arizona, with an anticipated start-up date of 2024.
• In May 2022, WeylChem International GmbH completed the acquisition of INEOS Sulfur Chemicals Spain SLU. This is the most important Spanish arm of INEOS businesses. The newly acquired business includes a 350,000-ton annual production facility for sulfuric acid in Bilbao. The new integrated sulfur business is now known as WeylChem Bilbao.
• BroadPeak Global LP, Asia Green Fund, & The Saudi Arabian Industrial Investments Company (Dussur) completed the transaction to buy Clean Technologies from DuPont de Nemours, Inc. Elessent Clean Technologies, Inc. has been established as the newly independent company.
• In July 2021, Boliden Group laid out the expansion plan for its Odda zinc mine in western Norway. Modernization and expansion of the existing leaching and purification plants, as well as the foundry and quay infrastructure, will be done. In 2024, the expansion will be complete.

Report Scope: