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Sulfuric Acid Market Size

Report ID: GMI6832
Published Date: Sep 2023
Report Format: PDF

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Sulfuric Acid Market Size

Sulfuric Acid Market size was valued at around USD 23.1 billion in 2023 and is estimated to register a CAGR of 11.2% between 2024 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.

Sulfuric Acid Market Report Attributes
Report Attribute	Details
Base Year:	2023
Sulfuric Acid Market Size in 2023:	USD 23.1 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	11.2%
2032 Value Projection:	USD 56 Billion
Historical Data for:	2018 to 2032
No. of Pages:	150
Tables, Charts & Figures:	135
Segments covered:	Raw Material, Application, Region
Growth Drivers:	Increasing demand in phosphate fertilizer production. Growing demand in industrial applications like metals processing. Rise in infrastructure development and construction projects.
Pitfalls & Challenges:	Environmental concerns and regulations regarding sulfuric acid production and usage. Fluctuating prices of raw materials like sulfur and energy. Economic instability affecting industrial activities and demand for sulfuric acid.

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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.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for sulfuric acid was worth USD 23.1 billion in revenue in 2023 and is projected to reach USD 56 billion by 2032 driven by rising adoption in the chemical industry, metals processing industry, and fertilizers.

Sulfuric acid industry from the elemental sulfur segment generated USD 11.40 billion in revenue in 2022 and is expected to witness high demand through 2032 due to their high availability and established production processes.

U.S. market size for sulfuric acid was USD 6.1 billion in 2022 and is anticipated to expand significantly through 2032 owing to increasing usage in fertilizer production for supporting agricultural activities in the US.

Some of the top companies engaged in the sulfuric acid business 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, and Agrium Inc.