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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.