Sulfuric Acid Market - By Raw Material (Elemental Sulfur, Base Metal Smelters, Pyrite Ore, Others), By Application (Fertilizers, Chemical Manufacturing, Metal Processing, Petroleum Refining, Textile Industry, Automotive, Pulp & Paper, Others) & Forecast, 2023 – 2032

Sulfuric Acid Market Size

Sulfuric Acid Market size was valued at around USD 20.8 billion in 2022 and is estimated to register a CAGR of 11.2% between 2023 and 2032. Major contributors of demand for the global sulfuric acid industry include key applications across multiple end-use sectors, among which majorly include the chemical industry, metals processing industry, as well as fertilizers.
 

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The need for sulfuric acid as an active catalyst in numerous chemical reactions & due to its property of corrosion which makes it valuable in industries such as industrial & infrastructure expansion is leading to upsurge in its demand fuelling the market expansion.

Market restraints for sulfuric acid include environmental concerns due to its highly corrosive and toxic nature, strict regulatory requirements. Its dependency on industries like mining and manufacturing, making its demand susceptible to economic fluctuations.
 

COVID-19 Impact

COVID-19 outbreak led to large scale lockdowns across the country which in turn led to disruptions in global supply chain and decline in demand from various industries including automotive and construction. Hence, it negatively affected the sulfuric acid market. Market for sulfuric acid grew slow due to decrease in production due to economic uncertainties. But despite this, demand was still seen to be buoyed because of agriculture’s critical position as being involved in fertilizer-making.
 

Sulfuric Acid Market Trends

Recent developments in the sulfuric acid industry indicate an increasing emphasis on sustainable production methods, recycling efforts to reduce environmental impact and technological advancements that provide sulfuric acid production efficiency increases and resource consumption decreases. Furthermore, market research indicates a growing demand for sulfuric acid in emerging economies driven by expanded industrial and agricultural activities, with improvements in infrastructure development is further enhanced.
 

Sulfuric Acid Raw Material Market Analysis

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Based on raw material, the sulfuric acid market is segmented as elemental sulfur, base metal smelters, pyrite ore, others. Elemental sulfur held a majority market value of USD 11.40 billion in 2022. The raw material segments of elemental sulfur and base metal smelters are leading due to their high availability and established production processes. Elemental sulfur is a primary source, and base metal smelters contribute significantly. Pyrite ore and other sources play a smaller role, often subject to market variations and supply challenges.

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Based on application, the sulfuric acid market is segmented as fertilizers, chemical manufacturing, metal processing, petroleum refining, textile industry, automotive, pulp & paper, and others. Fertilizers held a dominant market share of around 55% in 2022 and is expected to grow at a lucrative pace till 2032. The global market is driven by fertilizers owing to rising global demand for agricultural production. Chemical production matches sulfuric acid’s versatility and plays an important part in many chemical reactions. It’s necessary in metal mining to get such metals as copper and zinc out of the ground. Moreover, Sulfuric Acid is an important chemical used during petroleum refining, helping to create gasoline and other crucial fuels, shining light on its importance and necessity within this industry.

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U.S. dominated the North American region with majority sulfuric acid market share and a revenue of USD 6.1 billion in 2022. The pivotal role of sulfuric acid in fertilizer production supports the agricultural activities in the US, making this end-use segment dominant for the regional market. Furthermore, it has remained highly relevant in the chemical process and metal industry, pushing forward growth. Additionally, the increasing consumption of sulfuric acid in the petroleum refining process for energy generation further asserts its dominance, revealing its significant impact and consistent growth in these key industries of North America.
 

Sulfuric Acid Market Share

Some of the major market players operating in the sulfuric acid market are

• BASF SE
• DuPont de Nemours, Inc.
• The Mosaic Company
• Akzo Nobel N.V.
• Valero Energy Corporation
• PVS Chemicals, Inc.
• PotashCorp
• Ineos Enterprises
• Praxair Technology, Inc.
• Chemtrade Logistics
• Southern States Chemical
• Agrium Inc.
• Koch Fertilizer
• LLC
• Climax Molybdenum
• Solvay S.A.

These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.

Sulfuric Acid Industry News:

• In June 2023, the Sumitomo Corporation Group, with the acquisitions completed via Sumitomo Corporation of Americas (“SOCA”), the US holding company for SOCGC, has successful acquired the outstanding shares in Saconix LLC from Copperbeck Energy Partners LLC, a This buyout makes Saconix a wholly-owned subsidiary within the Group of Sumitomo Corporation. Saconix is a leading supplier of sulfuric acid throughout the Western USA and The Gulf.
   
• In January 2023, Unigel RI is one of the largest chemical companies in Latin America and the main producer of nitrogen fertilizers in Brazil and has entered into a agreement with MECS to design, build and supply sulfur burner for its new sulfuric acid plant in Brazil. The aim of this collaboration is for Unigel to make sulfuric acid in the country itself and thereby be less dependent on imports of sulfur for its downstream chemical processes.
   

Sulfuric acid market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Billion & Kilo Tons from 2018 to 2032, for the following segments:

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By Raw Material

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

By Application

• Fertilizers
• Chemical Manufacturing
• Metal Processing
• Petroleum Refining
• Textile Industry
• Automotive
• Pulp & Paper
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Russia
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Indonesia
  • Malaysia 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE