Sulfuric Acid Market Forecasts to 2028 – Global Analysis By Manufacturing Process (Wet Sulfuric Acid Process, Lead Chamber Process), Raw Material (Pyrite ore, Elemental Sulfur), Application (Textile industry, Pulp & paper) and By Geography
According to Stratistics MRC, the Global Sulfuric Acid Market is accounted for $11.31 billion in 2021 and is expected to reach $15.78 billion by 2028 growing at a CAGR of 4.9% during the forecast period. Sulfuric acid, known in antiquity as oil of vitriol, is a mineral acid composed of the elements sulfur, oxygen and hydrogen, with the molecular formula H₂SO₄. It is a colorless, odorless and viscous liquid that is miscible with water. It also plays a vital role in the production of pesticides, fertilizers, etc.
Currently, the global production of sulfuric acid stands at more than 270 million t and this figure is expected to increase. So far, there are five countries that rank as the leading producers of this chemical. Leading the chart is China, whose production output stands at more than 74 million t. The US sits second with more than 37 million t, India produces 16 million t, Russia accounts for 14 million t, and Morocco produces 7 million t of the world output. Generally, these five countries account for approximately 61.5% of the global production of sulfuric acid. Currently, the fertilizer industry consumes more than 55% of the world output. At this rate, there is no doubt that the need for sulfuric acid cannot be overemphasised. In 2016, the global sulfuric market was valued at US$10.1 billion. It is estimated that this figure will reach US$15 billion by 2025. Likewise, it is anticipated that the global demand is rising exponentially, while there is a need for an increase in production to meet this demand.
Rising production of nutrient-rich food crops
Due to expanding urbanization, the availability of fertile land for agricultural practices decreases which in turn increases fertilizer consumption, as farmers expect higher yields. Fertilizers are now an essential aspect of agriculture, providing nutrients such as phosphate, potassium, and nitrogen to the soil. The vast majority of sulfuric acid produces phosphoric acid, then phosphate fertilizers such as calcium dihydrogen phosphate and ammonium phosphates.
It is an acidic substance that can cause severe skin and eye burns. On touch, it can cause third-degree burns and blindness. Moreover, its vapor can irritate the eyes, nose, throat, and lungs and at greater concentrations, it can induce an accumulation of fluid in the lungs. In addition, asthmatics are especially vulnerable to pulmonary inflammation. Repeated exposures may result in irreversible lung and tooth damage.
Rising usage in chemical industry
The chemical industries produce petrochemicals, polymers, and industrial chemicals. To produce phosphoric acid sulfuric acid is a necessary commodity chemical; it is used to manufacture several chemicals with high demand in the chemical industry. The market growth is augmenting owing to higher requirements for hydrochloric acid, nitric acid, sulfate salts, synthetic detergents, dyes and pigments, explosives, and other drugs. Hence the growing usage of it in chemical industry creates ample opportunity for the market growth.
Stringent government regulation
There are stringent regulations implemented by numerous governments against the manufacturing and uses of these acids, owing to hazardous effects of the strong acidic mixture are expected to restrain the growth of the market. For instance, the American Conference of Governmental Industrial Hygienists (ACGIH) has categorized acid as a carcinogen. These stringent regulations are anticipated to hinder the growth of the market over the forecast period.
Fertilizers segment is expected to be the largest during the forecast period
The fertilizer segment is expected to be the largest during the forecast period. The segment's growth is mainly accredited to the growing population worldwide, affecting an increased demand for better-quality food crops. Moreover, the rapid industrialization and urbanization have led to causing deterioration in hectares of arable land. For this situation, fertilizers are widely used across the globe by farmers to boost crop yield, which is likely to catalyze the growth of the market.
The Elemental Sulfur segment is expected to have the highest CAGR during the forecast period
The Elemental Sulfur segment is expected to have the highest CAGR during the forecast period, owing to the large quantity of elemental sulfur in the market. Since, the high use of sulfur in the production of this acid, it is less contaminated than the pyrite ore roasting and base metal smelter, where the factories are obligated to implement stringent procedures for treating the emitted sulfuric acid gases before their release into the atmosphere.
Region with highest share:
The Asia Pacific is projected to hold the highest market share, owing to the growth of several end-use industries such as chemical, agriculture, and textile industry in developing economies such as China and India. Countries such as South Korea and Japan have a large number of metal smelters, which is anticipated to contribute to market growth.
Region with highest CAGR:
North America is projected to have the highest CAGR, due to rise in the demand for this acid in fertilizer manufacturing. Moreover, increasing demand for environmentally mandated smelter capacity for the production of sulfuric acid is likely to propel the market over the forecast period. Additionally, increasing consumption of phosphate fertilizers is leading to high demand for market growth in this province.
Key players in the market:
Some of the key players profiled in the Sulfuric Acid Market include Vale Fertilizantes S/A, The Mosaic Company, The Chemours Company, Jacobs Engineering Group Inc., Solvay, PVS Chemicals, Inc., PotashCorp, Khaitan Chemicals & Fertilizers Limited, Honeywell International, Inc. , Groupe Chimique Tunisien SA, Evonik Industries, Eco Services Operations, LLC, E. I. Du Pont De Nemours and Company, Chemtrade Logistics Inc., Bayer, BASF SE, Aurubis, Akzo Nobel N.V., Agrium Inc., Fanchem Ltd, Veolia.
In June 2019: Veolia announced that it had expanded the plant in Louisiana that converts sulfuric acid into commercial-quality sulfuric acid, and also produces sulfurbased products for the refining and other purpose.
In February 2017: Aurubis AG and Enercity signed an agreement to use industrial waste heat for the energy supply in the Hamburg district. The heat extracted from the conversion of sulfur dioxide into sulfuric acid will be provided to enercity for energy supply.
In July 2021: BASF, Zhejiang Jiahua Energy Chemical Industry Co. Ltd., and its fully-owned subsidiary Zhejiang Jiafu New Material Technology Co. Ltd. signed an agreement to further expand the production capacity of electronic-grade Sulphuric Acid in Jiaxing, China.
Manufacturing Processes Covered:
• Wet Sulfuric Acid Process
• Lead Chamber Process
• Contact Process
Raw Materials Covered:
• Pyrite ore
• Elemental Sulfur
• Base metal smelters
• Textile industry
• Pulp & paper
• Petroleum Refining
• Metal Processing
• Chemical Synthesis
• Other Applications
• North America
Rest of Europe
• Asia Pacific
Rest of Asia Pacific
• South America
Rest of South America
• Middle East & Africa
Rest of Middle East & Africa
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