Sulfuric Acid Market Will Estimated to Worth USD 40.63 Billion at a CAGR of 11.7% By 2030
The global sulfuric acid market size was USD 14.89 Billion in 2021 and is expected to register a revenue CAGR of 11.7% over the forecast period, according to the latest report by Reports and Data.
Rising demand for sulfuric acid in downstream chemical and industrial applications and increasing application in the agricultural sector in the production of processed phosphate fertilizers are key factors behind the revenue growth of the global sulfuric acid market. Sulfuric acid is an important industrial chemical used in the production of various raw materials for various applications. In the pulp and paper industry, sulfuric acid is used to generate chlorine dioxide, crack heavy oil, and adjust pH. More than 1 million tonnes of sulfuric acid are produced annually in the UK and another 40 million tonnes annually in the United States. Around 180 million tons of sulfuric acid are produced annually worldwide.
Top Companies Operating in the Global Sulfuric Acid Market:
BASF SE, DuPont, Trident Limited, AkzoNobel N.V., The Chemical Company, Aurubis AG, Shrieve, Agrium, Inc., PVS Chemical Solution, and Chemtrade Logistics.
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Some Key Highlights from the Report
- Based on regional analysis, the North American sulfuric acid market accounted for the largest revenue share in the global market in 2021, owing to increasing demand for fertilizer manufacturing, inorganic chemical manufacturing, and increasing applications in the automotive industry. According to the Observatory of Economic Complexity (OEC), Canada is the world’s leading producer and exporter of sulfuric acid. Sulfuric acid exports from Canada, which account for more than 20% of her total international trade, reached US$115 million in 2017.
- Most of the chemicals sold by Canadian sulfuric acid companies are now exported to agribusiness countries. Canada is the world’s largest exporter of sulfuric acid in her 2020, exporting US$152 million worth of sulfuric acid abroad. Sulfuric acid was Canada’s 268th most exported commodity in the same year. Moreover, the presence of key market players in the region is a key factor driving the revenue growth of this market in the region.
- On October 27, 2021, Nuberg EPC, the world’s leading EPC and turnkey project management organization, was awarded major sulfuric acid plant projects in Gamatha, Egypt and Oromia, Ethiopia. Based on EPC and LSTK, 50 TPD + 40 TPD sulfuric acid purification projects of aluminum sulfate in Ethiopia and STG rating of 500 MTPD + 5 MW in Egypt have been won.
- On November 16, 2021, Coromandel International Limited, India’s second largest producer of phosphorous fertilizers and a member of the Murugappa Group, kicked off a project to build a new sulfuric acid plant with an investment of $48 million. announced. A day at the fertilizer complex in Visakhapatnam.
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The Sulfuric Acid market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Sulfuric Acid market.
The global Sulfuric Acid market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Type of Raw Material Outlook (Revenue, USD Billion; 2019-2030)
- Base metal smelters
- Pyrite ore
- Elemental Sulfur
Application Outlook (Revenue, USD Billion; 2019-2030)
- Chemical Manufacturing
- Fertilizer Production
- Metal Processing
- Petroleum Refining
- Textile Industry
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Key Attentions of Sulfuric Acid Market Report:
The report offers a complete and broad perspective on the global Sulfuric Acid Market.
The market statistics depicted in the various Sulfuric Acid Market segments give a complete picture of the industry.
The market growth drivers and challenges affecting the development of the Sulfuric Acid Market are analyzed in detail.
The report will aid in the analysis of key competitive market scenarios and Sulfuric Acid Market dynamics.
Major players, Sulfuric Acid Market key companies, investment feasibility, and study of new market entrants are offered.
The scope of development of the Sulfuric Acid Market in each market segment is covered in this report.
The macro and microeconomic factors that influence the Sulfuric Acid Market progress are detailed in this report.
The upstream and downstream components of the Sulfuric Acid Market and a complete value chain are explained.
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