According to the latest market study published by Future Market Insights (FMI), the demand for sulphuric acid is set to rise on account of its application in production of fertilizers. As per the report, demand for sulphuric acid will increase by 3.2% CAGR between 2021 and 2031. Focus on improving agricultural yield across the globe is elevating the demand for fertilizers. Sulphuric acid, being a key constituent used in production of phosphate based fertilizers, is expected to register notable surge in demand with the growth in sales of fertilizers during the forecast period.
Economic expansion in Latin America, East Asia, South Asia Pacific and others has pushed infrastructure development activities. This is expected to propel the demand for metals in the aforementioned regions. Coupled with this abundant metal reserve in these regions is supporting the expansion of metal processing. FMI has projected application of sulphuric acid will increase, particularly in the metal extraction industry.
In addition to this, regulations implemented to ascertain the quality of fuel will increase the demand for sulphuric acid globally. Sulphuric acid is used as key catalyst in various operations in petroleum refining process. Growth in petroleum refining industry is likely to augment the sales of sulphuric acid in developed economies.
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Key Takeaways from Sulphuric Acid Market Study
- Global sulphuric acid market is expected to reach a value of US$ 18 Bn by the end of the forecast period.
- Fertilizers industry will account for maximum sales of sulphuric acid.
- China is expected to lead sulphuric acid sales in East Asia.
- The U.S. will exhibit maximum demand for sulphuric acid in North America.
- Key manufacturers are focusing on expansion through strategic mergers, acquisitions and collaborations.
- Regulations implemented to curb the harmful emission from sulphuric acid might hamper sales.
Some of the leading companies operating in the market are:
- BASF SE
- Ineos Group Ltd
- KANTO Corporation
- Aurubis AG
- Avantor Performance Materials, LLC
- PVS Chemicals Inc.
- Seastar Chemicals
- KMG Chemicals
- Qingdao Hisea Chem Co.Ltd
- Linde Group
- Nouryon
- Cornerstone Chemical Company
- Ma’aden – Saudi Arabian Mining Company
- Canada Colors and Chemicals Limited
- Hubei Xingfa Chemicals Group Co., Ltd
- Asia Union Electronic Chemical Corporation (AUECC)
- Tata Chemicals
- Trident Group
- Boliden Group
- UBE INDUSTRIES, LTD.
- Kel-Chemicals Ltd.
- Young Poong Co., Ltd.
- Jiangsu Mingsheng Chemical Co., Ltd.
- Shijiazhuang Xinlongwei Chemical Co., Ltd.
- Wylton (China) Chemical Co., Ltd.
- Sumitomo Chemical Co., Ltd.
- Tayca Corporation
Sulphuric Acid Market by Category
By Purity Type:
- Standard
- Ultra-pure
By Application:
- Fertilizers
- Petroleum Refining
- Metal Production & Processing
- Wastewater Treatment
- Semiconductor & Electronics
- Chemical Production
- Textile Processing
- Pulp & Paper Production
- Pharmaceuticals
- Domestic Cleaning Products
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- Middle East and Africa
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Sulphuric Acid Market Category-wise Insights
Ultra-pure sulphuric acid is extensively used by the electrical and electronic industry in the production of printed circuit boards (PCBs), photovoltaic cells, and others. The electrical & electronic industry is growing at a fast pace, which is expected to fuel the demand for sulphuric acid over the forecast period.
Ultra-pure sulphuric acid also finds its application in the pharmaceutical industry in the production of some pharmaceutical products. The pharmaceutical industry is growing at a very rapid pace which is also expected to profit from the consumption level of sulphuric acid during the forecast period.
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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