WASHINGTON, Jan. 05, 2023 (GLOBE NEWSWIRE) -- The Global Sulfuric Acid Market is valued at USD 13.00 Billion in 2021 and is projected to reach a value of USD 17.32 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 4.90% over the forecast period 2022-2028.
One of the most significant economic areas is the Sulfuric Acid business, consistent expansion is projected. Despite the turbulence of an industry, many things can affect its growth or demise. The study assesses both the current trends and anticipated future changes to provide a comprehensive understanding of the sector. Additionally, it provides details about important industry players and their expansion strategies.
The report thoroughly analyzes international producers and suppliers and their current situation and prospects. It also details the global drivers of the demand for Sulfuric Acid, including developing technology, investment requirements, and new laws.
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Sulfuric Acid Market Overview
According to Vantage Market Research, few key factors anticipated to accelerate the Sulfuric Acid Market growth over the forecast period. Sulfuric Acid is frequently used in fertilizers, which promotes the expansion of the market by promoting a higher percentage of crop growth. The major competitors in the industry are providing innovations to the Sulfuric Acid Market and fostering market expansion.
We forecast that the fertilizers category in the Sulfuric Acid Market sales will account for more than 30% of total sales by 2028. Utilizing fertilizers in the field results in a higher proportion of crops, higher amount and quality of crops, and monocultures with more nutrients than crops without fertilizers, which result in lower crop yields. Consequently, approval and expanded use of fertilizers strengthen the soil for agricultural growth.
Leading Players in the Global Sulfuric Acid Market
- UBE Industries Ltd. (Japan)
- Boliden Group (Sweden)
- Trident Group (India)
- Tata Chemicals (India)
- Asia Union Electronic Chemical Corporation (Taiwan)
- Hubei Xingfa Chemicals Group Co. Ltd. (China)
- Canada Colors& Chemicals Limited (Canada)
- Maaden - Saudi Arabian Mining Company (Saudi Arabia)
- Nouryon (Netherlands)
- Cornerstone Chemical Company (US)
- Linde Group (Ireland)
- Qingdao Hisea Chem Co. Ltd. (China)
- KMG Chemicals Inc. (US)
- Seastar Chemicals (Canada)
- PVS Chemicals Inc. (US)
- Avantor Performance Materials LLC (US)
- Aurubis (Germany)
- Knato Corporation (US)
- INEOS Group Ltd. (UK)
- BASF SE (Germany)
- The Mosaic Company (US)
- Yunnan Copper Co. Ltd. (China)
- Jiangxi Copper Group Co. Ltd. (China)
- Honeywell International Inc. (US)
- Dupont (US)
- Cytec Industries (US)
- Chevron Philips Chemical (US)
- Akzo Nobel (Netherlands)
- Bayer (Germany)
Sulfuric Acid Market Dynamics
Strong Presence of Manufacturing and Chemical Industries to Boost Market Growth
Due to the significant growth in the fabrication and industrial applications, the rise in the manufacture and sale of alternative fuels, the rising consumption of alkaline solutions, and the profusion of top Sulfuric Acid producers, demand for strong acids like Sulfuric Acid is anticipated to continue during the forecast period.
Rapid Expansion of the Fertilizer Industry Augmenting Growth
Fertilizers containing nitrogen, phosphorous, and copper are the three main nutrients that farmers employ worldwide to increase the quality d of their crops. Some fertilizers, like the three separate MAP and DAP fertilizers, give farmers a productive way to add nitrogen and phosphorous to soils. The increase in irrigation investment increased the total area watered, increasing the demand for fertilizers and boosting the Sulfuric Acid Market.
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Top Trends in the Global Sulfuric Acid Market
- One trend Vantage Market Research (VMR) expects to see in the Sulfuric Acid industry is the rising use of ultra-pure Sulfuric Acid to outpace standard purity. Ultra-pure Sulfuric Acid is anticipated to have increased its basis point share by around 10 points thanks to increased usage in sectors including pharmaceuticals and electronics. During the upcoming year, leading companies will continue to assist the expansion of this segment by expanding the percentage of ultra-pure Sulfuric Acid they produce.
- Another trend that VMR project will continue in the Sulfuric Acid industry is the requirement for Sulfuric Acid in the chemical industry. Widespread use of Sulfuric Acid in chemical industries and rising industry demand. When creating and manufacturing a novel chemical synthesis or a medication, Sulfuric Acid is a major ingredient that is processed.
Top Report Findings
- Based on Raw Materials, the Elemental Sulfur category controls most of the sulfuric acid industry revenue. The greater use of sulfur as a biomass feedstock in the manufacturing component's processing of the finished product. The need for sulfur has increased during the drug's catalytic reactions and production. In the production of hydrogen peroxide, elemental sulfur was employed.
- Based on Forms, most of the Sulfuric Acid Market's revenue is controlled by the dilute sulphuric acid category. It is frequently used in producing chemicals, such as synthetic detergents, pyrotechnics, hydrogen peroxide, ammonium, sulfate salts, dyes & pigments, and pharmaceuticals. It is employed in refining petroleum to clean contaminants out of fuel and other petroleum-based products.
- Based on the Manufactured Process, most of the Sulfuric Acid Market's revenue is controlled by the wet sulphuric acid category. Gas dehydrogenation is accomplished using the wet Sulfuric Acid technique (WSA process). All industries that struggle with sulfur removal can use the WSA technique. The WSA method can also be used to regenerate wasted acid from, for example, alkylation factories or to produce Sulfuric Acid by burning sulfur.
- Based on the Distribution Channel, most of the Sulfuric Acid Market's revenue is controlled by the offline category. The offline market segment is expanding due to growing customer requirements, greater bulk transportation requirements, and tighter rules and regulations governing the processing of Sulfuric Acid, which is a hygroscopic and oxidation process.
- Based on Applications, most of the Sulfuric Acid Market's revenue is controlled by the fertilizers category. As the output of the crops needed for everyday life increases, so is the demand for fertilizers, which fuels the rise of the Sulfuric Acid Market.
- Based on Purity Type, most of the Sulfuric Acid Market's revenue is controlled by the Ultra-Pure category. Due to rising semiconductor industry demand and expanding pharmaceutical sector applications. Due to its expanding use in the global electrical and electronic industries, the ultra-pure Sulfuric Acid Market is anticipated to expand over the projected period.
Browse market data Tables and Figures spread through 142+ Pages and in-depth TOC on Sulfuric Acid Market Forecast Report (2022-2028).
Top 10 Players Generate More Than 45% of the Global Sulfuric Acid Market Revenue
The report also study that the largest players in the Sulfuric Acid Market are technology providers such as UBE Industries Ltd. (Japan), Boliden Group (Sweden), Trident Group (India), Tata Chemicals (India), Asia Union Electronic Chemical Corporation (Taiwan). These companies are expected to benefit from increased demand for their services and products and investments in new products. Other major players include- Hubei Xingfa Chemicals Group Co. Ltd. (China), Canada Colors & Chemicals Limited (Canada), Maaden - Saudi Arabian Mining Company (Saudi Arabia), Nouryon (Netherlands), Cornerstone Chemical Company (US), Linde Group (Ireland), Qingdao Hisea Chem Co. Ltd. (China), KMG Chemicals Inc. (US), Seastar Chemicals (Canada), PVS Chemicals Inc. (US), Avantor Performance Materials LLC (US), Aurubis (Germany), Knato Corporation (US), INEOS Group Ltd. (UK), BASF SE (Germany), The Mosaic Company (US), Yunnan Copper Co. Ltd. (China), Jiangxi Copper Group Co. Ltd. (China), Honeywell International Inc. (US), Dupont (US), Cytec Industries (US), Chevron Philips Chemical (US), Akzo Nobel (Netherlands), Bayer (Germany).The latest report published by Vantage Market Research shows thatthe top 10 companies generate more than 45% of market revenue.
Fertilizers Category in Sulfuric Acid Market to Generate Over 30% Revenue
Vantage Market Research has analyzed the market for Sulfuric Acid to understand its current and future potential growth factors. For better understanding, based on the application, the Sulfuric Acid Market is divided intofertilizers, chemical industries, petroleum refining, metal processing- steel picking, copper production, metals surface cleaning, others, automotive, textile, drug manufacturing, pulp & paper, industrial, semiconductor electronics- battery electrolyte, integrated circuit components, fabrication, photovoltaic cells., domestic cleaning products, wastewater treatment, and others.
During the forecast period, the market for Sulfuric Acid is anticipated to experience the highest CAGR for the fertilizers category. To meet the growing need for food, fertilizers are widely utilized to boost agricultural productivity. The need for fertilizers, particularly inorganic fertilizers, is expected to grow dramatically due to an increase in the requirement for and supply of oilseeds and grains, which heavily influences the demand for Sulfuric Acid.
On the other hand, the chemical industry category is estimated to grow significantly over the forecast period. When creating and constructing a novel chemical synthesis or a medication, Sulfuric Acid is a raw material that is processed. The production of various chemicals with new advancements and rising customer demand accelerated market growth over the anticipated timeframe.
Sulfuric Acid Market Regional Analysis
Asia Pacific region dominates the market throughout the projection period. The chemical, agricultural, and other industrial industries in nations like China, India, and Japan have been in high demand, which has caused the Sulfuric Acid industry to proliferate by using Sulfuric Acid more frequently. The fertilizers with boosting the number of crops by enhancing the quality and quantity of crops with enhancing nutrients and satisfying the consumer demands with rising demand driving the market growth to a greater extent.
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Global Sulfuric Acid Market Segmentation
By Raw Materials
- Base metal smelters
- Elemental Sulfur
- Pyrite Ore
- Other Materials
By Forms
- Concentrated
- Tower/Glover acid
- Chamber/ Fertilizer acid
- Battery acid
- 66 Degree Baume Sulfuric Acid
- Dilute Sulfuric Acid
By Manufacturing Process
- Contact process
- Lead chamber process
- Wet Sulfuric Acid process
- Metabisulfite process
- Other Processes
By Distribution Channels
- Online
- Offline
By Applications
- Fertilizers
- Chemical industries
- Petroleum refining
- Metal processing- Steel picking, Copper production, Metals surface cleaning, others
- Automotive
- Textile
- Drug manufacturing
- Pulp & paper
- Industrial
- Semiconductor Electronics- Battery Electrolyte, Integrated Circuit Components, Fabrication, Photovoltaic Cells
- Domestic cleaning products
- Wastewater treatment
- Other Applications
By Purity Type
- Standard
- Ultra-pure
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 13.0 Billion |
| Revenue Forecast by 2028 | USD 17.3 Billion |
| CAGR | 4.9 % from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | UBE Industries Ltd., Trident Group, Boliden Group, Asia Union Electronic Chemical Corporation, Tata Chemicals, Hubei Xingfa Chemicals Group Co. Ltd., Maaden - Saudi Arabian Mining Company, Canada Colors & Chemicals Limited, Nouryon, Linde Group, Cornerstone Chemical Company, Qingdao Hisea Chem Co. Ltd. |
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