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Sulfuric Acid Market

The sulfuric acid market is anticipated to rise at a CAGR of 4% during the forecast period of 2022 to 2030. Strong sulfuric acid is a solid acid made of sulphur, oxygen, and hydrogen. Also called vitriol oil. In addition to making chemicals, explosives, and glue, it cures metal and refines petroleum. Strong environmental rules to restrict emissions may lead to more smelters being used to capture sulphur dioxide. Increased use of sulfuric acid in fertilisers and chemical goods also drives expansion. The electronics sector’s requirement for high purity sulfuric acid is fueling sulfuric acid demand. East Asia is expected to play a major role in the global market for sulfuric acid, which accounts for one-third of total acid use. Sulfuric acid is used in 35-40% of the world’s acid market.

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The global market for sulfuric acid is driven by nutrient-dense crop development. As farmers expect higher yields and urbanisation reduces the availability of fertile ground for farming, demand for fertilisers is expected to rise. Fertiliser use in farming is prevalent. These additions include potassium, phosphate, and nitrogen. They grow 50% of the world’s crops. The expansion of the fertiliser business, especially the phosphate sector, is predicted to increase demand for sulfuric acid, which is used to make commercial phosphate fertilisers. The world’s population is expected to reach 7.9 billion in 2022 and continue to expand, driving demand for crops, vegetables, and other food products. Rising agricultural concerns about crop production and food quality are expected to boost the growth of the fertiliser industry, which would likely trigger the demand for sulfuric acid.

Sulfuric Acid Market

Variations in raw material prices due to growing consumption from phosphate fertiliser companies during periods of restricted supply and the implementation of various rules for the manufacturing of ecologically friendly products are expected to slow industry growth. From 2017 through 2025, New Source Performance Standards (NSPS) will be implemented more often to restrict H2SO4 manufacturing facility emissions of sulphur dioxide, sulfuric acid mist, particulate matter, and nitrogen oxides. The market will expand.

Ultra-pure sulfuric acid is utilised in the electrical and pharmaceutical industries. Increasing the production of ultra-pure sulfuric acid is hard for industry leaders. Ultra-pure sulfuric acid is made by heating raw components to boiling and then distilling them. Direct distillation purifies industrial sulfuric acid but creates a harmful mist. To comply with environmental restrictions on industrial emissions, businesses have implemented a wide array of pollution control methods. High costs associated with pollution control systems, such as installation, device purchase, and maintenance, raise the overall cost of producing ultra-pure sulfuric acid. This is expected to hurt the global sulfuric acid industry next year.

In 2021, elemental sulphur raw material gained a large percentage of the market and is expected to grow rapidly. The raw material causes less environmental damage than pyrite ore or base metal smelters and is widely available. Many enterprises treat sulphur gas before releasing it into the sky. This is done to limit pollution. Increasing development activities, such as improving firm production capacity to better sulfuric acid product manufacturing, would likely expand the market.

Fertilizer provided almost 50% of market revenue in 2021. The market will certainly rise in the foreseeable future due to rising crop quality and population levels. Rapid industrialization and urbanisation are diminishing the amount of arable land, requiring farmers to use fertilisers to enhance agricultural yields. Increased use of H2SO4 in the manufacture of high-quality agricultural fertilisers is expected to fuel market growth.

Refineries that process petroleum and chemicals create contaminated sulfuric acid, necessitating pure, highly concentrated H2SO4 products. The regeneration process reduces acid emissions, which lowers production costs and is environmentally friendly. Increasing investments in chemical synthesis development in China’s chemical manufacturing industry will fuel market growth throughout the forecast period. Electronics will expand the fastest from 2022 to 2030.

The Asia Pacific accounted for 45% of total revenue in 2021. The rise in China and Japan’s sulphur output is expected to boost sulfuric acid sales in this region. Asian and Pacific Rim demand for sulphuric acid is driving up prices. In the next years, the market will develop as phosphate fertiliser production rises. A growing fertiliser business and strict environmental rules are driving this requirement. China is expected to be the world’s top consumer of sulphuric acid. China’s sulfuric acid usage is expected to expand by 4.1% per year throughout the projection period. Due to the country’s high population, agricultural products are in high demand. Farmers in China employ fertilisers and other agrochemicals to meet demand. The increasing growth of the fertiliser business should offer sulfuric acid producers in the country several opportunities. The growing supply of H2SO4 from Saudi Arabia and Morocco is expected to boost the sector. From 2022 to 2030, an increase in acid plants to meet consumer demand and the rising supply of sulfur-burnt acids in the Middle East will propel the industry. This is expected together.

Market consolidation and competitiveness are significantly high. DuPont, AkzoNobel, BASF, Agrium, PVS Chemical Solution, and Chemtrade Logistics dominate the market. Most enterprises produce sulphur and its by-products, which are used in fertilisers, chemicals, petroleum refining, and other industries. Due to the rising demand for sulfuric acid, expansions have increased in recent years. Due to the growing electronics sector, manufacturing high-purity mineral acid has become a priority. Most rivals occupy a modest share of the global sulfuric acid market. Nouryon, KMG Chemicals, the PhosAgro Group, Aurubis AG, and WeylChem International GmbH are also other important players.

Key Market Trends

  • The sulfuric acid market is anticipated to rise at a CAGR of 4% during the forecast period of 2022 to 2030.
  • In 2021, elemental sulphur raw material gained a large percentage of the market and is expected to grow rapidly.
  • Fertilizer provided almost 50% of market revenue in 2021.
  • Electronics will expand the fastest from 2022 to 2030.
  • The Asia Pacific accounted for 45% of total revenue in 2021.
  • China’s sulfuric acid usage is expected to expand by 4.1% per year throughout the projection period.
  • Market consolidation and competitiveness are significantly high. DuPont, AkzoNobel, BASF, Agrium, PVS Chemical Solution, and Chemtrade Logistics dominate the market.
  • Due to the rising demand for sulfuric acid, expansions have increased in recent years.
  • Due to the growing electronics sector, manufacturing high-purity mineral acid has become a priority.

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