The global sulfuric acid market size is poised for significant growth, projected to surpass US$ 19,030.60 million by 2023. The sulfuric acid sales are expected to witness a CAGR of 3.40% from 2023 to 2033. By 2033, the sulfuric acid catalyst market is anticipated to reach a valuation of US$ 26,586.30 million.
Growth Stimulants for the Sulfuric Acid Market
- The quick adoption of sulfuric acid as a fertilizer has increased crop yields while improving crop quality and quantity.
- The sulfuric acid catalyst market expansion is driven by rising industrialization, increased research and development using sulfuric acid, and increased urbanization.
- Growing consumer demands for higher-quality crops with nutrients in vegetables and meeting the demands to boost the amount of agricultural products manufactured using fertilizers.
- The sulfuric acid market developed due to the swift adoption of electric vehicles and the expansion of the automotive industry due to rising consumer demand.
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Hurdles in the Sulfuric Acid Industry
- Consumer demand for sulfuric acid as a fertilizer to boost crop yields has increased, which is hazardous to the body and is subject to regulations. A rise in the sulfuric acid rates consistently impedes sulfuric acid catalyst market expansion.
- There is a lack of expertise among individuals when it comes to using concentrated sulfuric acid, which is extremely dangerous. A lack of skill could cause a decrease in market growth for sulfuric acid.
- The growth of the sulfuric acid market may need to be improved by the availability of substitutes for use in product processing, manufacturing, and production in the chemical industry that can adapt to new chemicals.
Regional Outlook
- Owing to the strong presence of industries like mining, agriculture, and chemicals, the sulfuric acid market in North America is predicted to advance steadily.
- In North America, the use of cleaner production methods is being encouraged by strict environmental regulations.
- Due to the established industrial base, the sulfuric acid market in Europe is expected to grow at a moderate rate.
- Market growth for sulfuric acid is going to be fueled by Europe’s emphasis on sustainability and rising sulfuric acid demand from the production of electronics and automobile batteries.
- Due to the swift industrialization of nations like China and India, the Asia Pacific sulfuric acid catalyst market is expected to develop significantly.
- Primary consumers are the chemical, construction, and agricultural industries in Asia Pacific. Rising urbanization is pushing up the demand for sulfuric acid.
“Sulfuric acid is essential in the manufacturing and industrial sectors, particularly in manufacturing phosphate-based fertilizers. With the expansion of the food industry, fueled by the rising population and developing-country spending power, demand for sulfuric acid fertilizers is advancing. Asia Pacific industrial growth is stimulating the global sulfuric acid industry.” Says Analyst at Future Market Insights, Inc.
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Key Takeaways
- The segment for elemental sulfur is predicted to grab a sulphuric acid market share of 59.4%.
- A 96.2% market share for sulfuric acid is anticipated for the standard purity type sector.
- The United States sulfuric acid sales are anticipated to surge at a CAGR of 2.3% by 2023.
- The Canada sulphuric acid market is anticipated to accelerate at a CAGR of 2.1% from 2023 to 2033.
- Germany sulfuric acid market is to develop at a CAGR of 3% through 2023.
- The France sulfuric acid industry is expected to accelerate a CAGR of 2.7% between 2023 and 2033.
- The sulfuric acid demand in the United Kingdom is to witness growth at a CAGR of 2.6% from 2023 to 2033.
- The Italy sulfuric acid market is to record a CAGR of 2.3% through 2023.
- The Spain sulfuric acid market expects growth from 2023 to 2033 at a CAGR of 2.4%.
- China sulfuric acid sales are expected to surge at a CAGR of 3.6% until 2033.
- India sulfuric acid industry is anticipated to boost at a CAGR of 3.5% by 2023.
- ASEAN sulfuric acid sales to soar at a CAGR of 3.3% between 2023 and 2033.
- ANZ sulfuric acid industry to register a CAGR of 2.9% through 2023.
- Japan sulfuric acid market may exhibit a CAGR of 2.8% by 2023.
Competitive Landscape
Owing to the abundance of sulfuric acid suppliers and sulfuric acid manufacturers, the global industry is highly competitive. While controlling distribution costs, these businesses employ various strategies to satisfy the expanding demand and broaden their global reach. Companies are turning to tactics like mergers, acquisitions, joint ventures, and expansions to take full advantage of the opportunities that global markets present.
Recent Developments
- Industrial plants started using BASF’s O4-111 X3D and O4-115 X3D sulfuric acid catalysts in July 2022, the first made using the new technology.
- The new onsite Waste Heat to Power Plant at PVS Chemicals, Inc. capture waste steam to produce 2.6 MW of renewable electricity through a steam turbine generator in August 2022. Energy Systems Group, LLC is a leading provider of sustainable energy solutions and a wholly-owned subsidiary of CenterPoint Energy, Inc. This partnership will significantly improve sustainability at PVS Chemicals’ sulfuric acid plant.
- The additional capacity of the sulfuric acid plant was put into service by Oriental Carbon and Chemicals in April 2022. With effect from March 2025, the company is authorized by ICC to use the ‘Responsible Care’ logo.
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Sulfuric Acid Market Top Players
- 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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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