LONDON, May 17, 2022 /PRNewswire/ -- The Sulfuric Acid Market Growth is expected to record a valuation of USD 14.47 Billion by 2028, Registering to Accelerate at a 3.2% CAGR, According to the most recent study by Brandessence Market Research & Consulting Pvt ltd.
The Global Sulfuric Acid Market size was Valued at USD 11.61 Billion in 2021. Rising production of nutrition-rich food crops, growing demand in chemical and pharmaceutical industries and rising use of sulphuric acid in food and preservatives sector are major factors anticipated to drive the growth of Global Sulfuric Acid Market.
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As per the Report of Brandessence Market Research "Sulfuric Acid Market Size, Share & Trends Analysis Report By Raw Materials (Elemental Sulphur, Pyrite Ore, Others) By Type (Sulfuric Acid, Battery Acid, Concentrated Sulfuric Acid, Chamber Acid) By End User (Fertilizer, Chemical, Pharmaceutical, Automotive, Petroleum Refining) Based On Region, And Segment Forecasts, 2022 - 2028"
Sulfuric Acid Market Scope of Report
The global sulfuric acid market is going to grow all over the world and it is going to happen with the demand of the product coming from the application it has in the manufacturing of fertilizer, its demand in the pharmaceutical industries and its use in the automobile industry. Like every other market, this market too faced its share of impact during the covid pandemic. It was moderately affected because of the demand in pharmaceutical sector which kept it afloat.
The demand dwindled because of the chemical sector being affected increasingly during the covid period and the use in automation sector which was practically shut down during the covid period. Among the restraining factors is the environmental regulations which are extremely stringent and are going to hinder the growth of this market. the demand is going to come more from the developing nations as compared to the developed ones.
Sulfuric Acid Manufacturers
The global sulfuric acid market has been accounted for by many different players. Some of which are PhosAgro Group of Companies, Nouryon, KMG Chemicals, WeylChem International GmbH and Aurubis AG. The companies are engaged in research and making sure that they are able to overcome hindrances like environmental impact of the global sulfuric acid market.
- Akzo Nobel
- Honeywell International
- Evonik Industries
- PotashCorp
- Jacobs
- DuPont, Aditya Birla Management Corporation
- KANTO Corporation
- Aurubis AG
- Avantor Performance Materials
- LLC
- PVS Chemicals Inc.
Sulfuric Acid Market Key Drivers
Sulfuric Acid market: Key Drivers
Sulfuric acid is also known as the hydrogen sulfate or vitriol. This is a dense, oily, colorless liquid which is also corrosive in nature. This has its usage in many concentrations in the manufacture of drugs, chemicals and various fertilizers. There are large quantities of the sulfuric acid which are used for making phosphoric acid. This also may be required for manufacturing the phosphate-based fertilizers like the MAP or the monoammonium phosphate or the diammonium phosphate which is known as DAP. These use the sulfuric acid in the very first step of their production processes. This is one of the major sulfuric acid uses in industry.
As per the different reports, it is estimated that the demand for fertilizers is going to grow globally. The demand will be seeing growth every year for the coming decade and that is going to aid the market as it is going to be seeing applications continuously in the fertilizer market. The industrial uses of sulfuric acid will also increase.
The pharmaceutical industry also uses the sulfuric acid quite widely in the form of a solvent for the chemical synthesis of many ingredients of the pharma products. Among the main types of the pharma products here which uses the sulfuric acid is the alkylating agents. These are used in the chemotherapy while treating cancer.
As per the different authorities, the application in the pharmaceutical sector has been aided with the covid pandemic. This is majorly aiding the revenue of the sulfuric acid market. the sulfuric acid is one of the catalysts which is used for the many different chemical reactions that are caried out in industry. Among the many sulfuric acid industrial uses is the manufacturing of caprolactam from the isooctane and cyclohexanone production that happens from the isobutylene and isobutene. The sulfuric acid quickens usually the process of reaction for attaining the output a lot faster. With growth in the applications, the sulfuric acid industry is seeing continuous growth and that isn't going to stop any time soon.
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Global Sulfuric Acid Market Segmentation:
The segmentation of the global sulfuric acid market is being done on the basis of raw material type and the end user industry. In terms of the raw material type, the market is segmented into pyrite ore, elemental sulfur among others. In terms of the end user, the market has been segmented into the chemicals and pharma, automotive, fertilizers and others. The leading application currently is the pharmaceutical sector but in the coming years, the automotive sector is also going to show a decent amount of growth.
By Raw Materials:
- Elemental Sulphur
- Pyrite Ore
- Others
By Type:
- Sulfuric Acid
- Battery Acid
- Concentrated Sulfuric Acid
- Chamber acid
By End User:
- Fertilizer
- Chemical
- Pharmaceutical
- Automotive
- Petroleum Refining
- others
Sulfuric Acid market: Key Trends
The last few years have seen an increase in demand from the other industries apart from the traditional uses such as metal processing, petroleum refinery, paper and pulp, chemical manufacturing and the automotive industries. This is where the product is used in the form of a catalyst and a dehydrating agent. It is also used as a reactant and that is going to boost the industry in the coming years. There are rising concerns over the higher crop yield and the excellence in food quality from the sector of agriculture which is going to propel the growth of this market. The growth of automotive industry is going to be one of the leading industries in the world and the increasing use in automotive industry is prompting the market players into manufacturing sulfuric acid for the automotive industries.
The factors like volatility of the prices of raw materials recently due to the rise in consumption from the producers is going to create a bit of a hindrance for the market. Further creating a hindrance is the fact that the sulfuric acid is not very good for the environment and the awareness regarding the use of environment friendly products is increasing. There are strict regulations with regard to the applications of the sulfuric acid which are going to grow this market in the coming years.
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Reginal Analysis:
In terms of the global sulfuric acid market, it is the Asia-Pacific region which is going to dominate the market in the coming years. This is due to the increasing demand of the industrial uses of Sulfuric acid in the chemical industry and manufacturing industries in countries such as India, China and Japan. The countries have seen these industries increasing rapidly.
With the covid pandemic, the two countries which were majorly affected were China and India and this is the reason why the pharmaceutical industry really developed there. The Sulfuric acid industry too saw a major consequent development. with urbanization growing in the coming years. There is a further growth in automotive, metal processing, pulps and other industries in these regions.
On Special Requirement Sulfuric Acid Market Report is also available for below region:
North America
- U.S, Canada
Europe
- Germany, France,U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe
Asia-Pacific
- South_Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC
Latin America
- Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America
Middle East and Africa
- Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA
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