According to the latest report by IMARC Group, titled “Sulphuric Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global sulphuric acid market is expected to exhibit a CAGR of 2.9% during 2023-2028. Sulfuric acid (H2SO4) is a mineral acid composed of the elements sulfur, oxygen and hydrogen. It is one of the most widely used industrial chemicals as a raw material or a processing agent. Prepared industrially by the reaction of water with sulphur trioxide (SO3), it is characterized by its odorless, colorless, and strong acidic nature. Sulphuric acid is a viscous liquid that is soluble in water and acts as a dehydrating and oxidizing agent at higher concentrations. Therefore, it is used to manufacture a wide range of chemicals, such as hydrochloric acid, sulfate salts, nitric acid, phosphoric acid, synthetic detergents, dyes, and pigments.
Global Sulphuric Acid Market Trends:
The global market is majorly driven by the escalating product demand in the agriculture sector to obtain the best amount of yield. This can be attributed to a considerable decrease in the volume of agricultural land due to rapid urbanization. In addition to this, continual advancements in the manufacturing of high-quality fertilizers and agricultural chemicals are providing an impetus to the market. Moreover, the rapid product utilization in the metal processing industry is acting as a significant growth-inducing factor for the market. Apart from this, the growing adoption of sulfuric acid in wastewater treatment plants is also contributing to the market. The market is further propelled by the augmenting need for sulphuric acid in the semiconductor industry. Some of the other factors creating a positive market outlook include rapid industrialization, considerable growth in the sales of detergents and cleaning agents, the rising demand for nutrient-rich food crops, inflating disposable income levels and extensive research and development (R&D) activities conducted by the key players.
- On the basis of the raw material type, the market has been categorized into elemental sulfur, pyrite ore, and others.
- Based on the form, the market has been segmented into concentrated (98%), tower/glover acid (77.67%), chamber/fertilizer acid (62.8%), battery acid (33.5%), 66 degree Baume sulfuric acid (93%), and dilute sulfuric acid (10%).
- On the basis of the distribution channel, the market has been divided into offline and online.
- Based on the end use industry, the market has been classified into fertilizer, chemical and pharmaceutical, automotive, petroleum refining, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Aarti Industries Ltd., Aurubis AG, BASF SE, Boliden AB, Brenntag SE, Chemtrade Logistics, Lanxess AG, Merck KGaA, Nutrien Ltd., PhosAgro, Solvay S.A., The Mosaic Company, and Valero Energy Corporation.
|Base Year of the Analysis
||Raw Material Type, Form, Distribution Channel, End Use Industry, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Aarti Industries Ltd., Aurubis AG, BASF SE, Boliden AB, Brenntag SE, Chemtrade Logistics, Lanxess AG, Merck KGaA, Nutrien Ltd., PhosAgro, Solvay S.A., The Mosaic Company and Valero Energy Corporation.
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