Newark, Oct. 28, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global sulfuric acid market is expected to grow from USD 17.03 billion in 2022 to USD 39.53 billion by 2030, at a CAGR of 11.10% during the forecast period 2022-2030.
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Sulfuric Acid is formed through a natural process Sulphuric acid is highly acidic. Therefore, it is utilized to pull impurities from oil, clean metals, manufacture nitric acid and hydrochloric acid and synthesize dye, drugs, detergents, and explosives. However, it is a hazardous chemical and should be handled carefully. Due to its risks, its usages at home are very rare. It is utilized in drain cleaners with reactive properties, making home maintenance easy. Sulfuric Acids are also used in different industries like the processing of minerals, wastewater processing, producing explosives, the production of cleaning agents, detergents, and the paper industry for manufacturing aluminium sulphates.
Competitive Strategy
To enhance their market position in the global sulfuric acid market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
In May 2022: WeylChem International GmbH completed the acquisition and integration of INEOS Sulfur Chemicals Spain SLU, the top Spanish sulfur chemicals weapon of INEOS companies. The acquired business includes a cutting-edge facility of 350,000 tons annually for making sulfuric acid in Bilbao. The recently integrated sulfur business currently operates under “WeylChem Bilbao.
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Market Growth & Trends
Sulfuric acid is usually used in the food industry to dehydrate specific edibles like fruit or prevent the growth of bacteria and other dangerous microbes that speed up the decomposition procedure. It is utilized in spray form to preserve poultry or meat. Sulfuric acid is an all-purpose food additive used in cheese and alcoholic beverages. Sulfur is also one of the most abundant minerals in the human body and is readily obtainable in food sources from meat to garlic. Most hair and skin treatments, joint treatments, and dietary supplements contain large quantities of Sulfuric acid. Sulfuric acid is an electrolyte; an electrolyte is a solution where ions are present. Lead-acid batteries in cars are comprised of sets of positively charged lead oxide plates dipped in an electrolyte, and negatively charged pure lead plates, are similarly dipped into it. The electrolyte is diluted in sulfuric acid at around 34%. Therefore, sulfuric acid is usually referred to as battery acid.
Key Findings
• In 2022, the fertilizers segment dominated the market with the largest market share of 18.5% and market revenue of 3.15 billion.
The application segment is divided into metal processing, automotive, fertilizers, petroleum refining, chemical manufacturing, and textile industry. In 2022, the fertilizers segment dominated the market with the largest market share of 18.5% and market revenue of 3.15 billion. Fertilizer production utilizes sulfuric acid to add sulfur to the soil. Many agricultural lands need a source of sulfur to substitute that product used by crops or drained during rainy times. Sulfur shortages lead to tissue and leaf necrosis, yellowing of leaf, and restricted growth of plants. The plants cannot utilize elementary sulfur; soil bacteria deteriorate to create sulfate. Sulfate is the most substantial source of nutrition for all plant life, and plants can quickly soak it via their roots.
• In 2022, the elemental sulfur segment dominated the market with the largest market share of 33.6% and market revenue of 5.72 billion.
The raw material segment is divided into pyrite ore, base metal smelters, and elemental sulfur. In 2022, the elemental sulfur segment dominated the market with the largest market share of 33.6% and market revenue of 5.72 billion. The elemental sulfur causes less pollution than base metal smelters or pyrite ore and is readily available in the industry. Multiple companies have taken strict standards to treat sulfur gas release before discharging it into the air to limit or restrain environmental pollution.
Increasing developmental activities, like improving companies' production capabilities to expand the sulfuric acid products manufacturing from elemental sulfur, are predicted to initiate market development.
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Regional Segment Analysis of the Sulfuric Acid Market
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the Asia Pacific region emerged as the largest market for the global sulfuric acid market, with a market share of around 34.17% and 5.81 billion of the market revenue in 2022. The massive population in the region led to a progressive crop yield. Also, with the rising urbanization, there has been a decrease in the fertile land for agriculture, which has pushed the need for fertilizers in the APAC region. The development in demand for fertilizers in crucial countries like India and China is anticipated to drive the demand for sulfuric acid in the region.
Key players operating in the global sulfuric acid market are:
• Aarti Industries Limited
• Amal Ltd, Dexo Fine Chem Pvt. Ltd
• Aurubis
• BASF SE,
• Cornerstor
• Ineos Enterprises Limited
• Oriental Carbon & Chemicals Ltd.
• PVS Chemicals Inc.,
• Veolia, Jiangsu Jihua Chemical
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global sulfuric acid market based on the below-mentioned segments:
Global Sulfuric Acid Market by Application:
• Metal Processing
• Automotive Fertilizers
• Petroleum Refining
• Chemical Manufacturing
• Textile Industry
Global Sulfuric Acid Market by Raw Material:
• Pyrite Ore
• Base Metal Smelters
• Elemental Sulfur
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About the report:
The global sulfuric acid market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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