Sulphuric Acid Market is Expected to Grow at a CAGR of 3.72% by 2030 | ChemAnalyst

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According to ChemAnalyst report, “Sulphuric Acid Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030”. Sulphuric Acid market witnessed a steady growth in the historic years with a CAGR of 4.01% and is estimated to achieve a CAGR of 3.72% until 2030 owing to its constant demand from Agriculture sector as majority of the total Sulphuric acid produced globally is consumed for the production of Phosphoric Acid which is further used to produce Phosphate fertilizers.

Sulphuric Acid is a highly reactive mineral acid and an oxidizing agent comprised of Sulphur, Hydrogen and Oxygen. It is a colorless, oily, water-soluble liquid that is corrosive in nature. Sulphuric Acid is produced by two processes that are Lead Chamber Process and Contact Process. Contact Process method is used for producing H₂SO₄primarily by the production of sulphur dioxide using sulphur as key feedstock in the presence of air across the globe. Apart from Sulphur other raw materials used for Sulphuric Acid production are Exhaust Gases and Pyrite.

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Sulphuric Acid find applications in various industries such as Fertilizers, Chemicals, Metal Processing, Automotive, and Pharmaceuticals. Fertilizer production is the most lucrative segment for Sulphuric Acid market. Rising pressure on farmers to increase the crop yield to meet the surging demand for food following growing population across the globe would generate the need for fertilizers which is expected to fuel the total demand for Sulphuric Acid in the forecast period. In metal processing Sulphuric Acid is being employed in ore cleaning, pickling to steel and iron to remove rust, oxidation and scaling for their further use in appliance industry as well as in automotive sector. Oil Refining and Waste Water Processing are the other sectors in which Sulphuric Acid is used substantially and demand from these sectors is also going to boost its market over the forecast period.

In 2020, there was no major impact of Covid on Sulphuric Acid industry, as there was a constant demand from the major end use industry i.e., Fertilizers. Though a minimal dip was observed from Chemical sector due to halt in manufacturing process and trade restriction in the first half of 2020. However, since the latter half of 2020 after the resumption in the industrial operations with full efficacy there was a speedy recovery in the demand of Sulphuric Acid and is projected to grow at a significant rate with the growing end use industries.

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Asia-Pacific region holds the maximum share of consumption for Sulphuric Acid and is expected to dominate the Sulphuric Acid market. In Asia Pacific, upsurge in the demand for H₂SO₄is witnessed due to rapid industrialization and growing population coupled with the flourishing Agriculture sector leading to the expansion of fertilizer manufacturing industries in the major agricultural countries such as China, India, Israel, Indonesia, Australia. Additionally, the presence of leading producers of Sulphuric Acid are in Asia-Pacific which is also a driving factor for its market growth in the region.

North America is also expected to show a significant growth in the market for Sulphuric Acid due to the presence of giant chemical industries in the region.

According to ChemAnalyst report, “Sulphuric Acid Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030”, Some of the major players operating globally in Sulphuric Acid market are KMG Chemicals, PhosAgro Group of Companies, Aurubis AG, Nouryon, Mosaic Company, PotashCorp, Groupe Chimique Tunisien, PVS Chemicals, Chemtrade Logistics Income Fund (Canada), BASF SE, Akzonoble NV, DuPont, INEOS Enterprises and Agrium Inc., and others.

“Sulphuric acid is a versatile commodity chemical that is utilized in the manufacturing of several other chemical including HCl, Phosphoric Acid, Nitric Acid, Hydrofluoric acid, Titanium dioxide etc. that are further employed in various industries in the production of dyes & pigments, synthetic detergents, sulfate salts, drugs, paints, coatings and explosives. Moreover, it also has minor applications as cleaning agent, an electrolyte in lead acid batteries, in Chemistry laboratories, in domestic acidic drain cleaners, etc. All these applications of Sulphuric acid in different sectors swell up its demand and is expected to drive its market in the forecast years. With new competitors emerging across the Asia Pacific Sulphuric Acid market, players anticipate that there will be sufficient supply demand gaps in future. At this, it is extremely important to keep an eye which region will grab the biggest market share in the upcoming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.

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