Sulphuric Acid Market 2021-2026

Sulphuric Acid Market Overview:

According to the 2017 annual report published by the International Fertilizer Association (IFA), the fertilizer industry is poised to observe an impressive investment of close to $110 billion with more than 65 new production units between 2017 and 2021[1]. Sulphuric acid is widely used to make fertilizers, and so, the expansion of the fertilizer industry will lead to an amplified demand influx in the sulphuric acid market that was valued to be around $8.54 billion in 2018. Furthermore, the demand for sulphuric acid is estimated to grow with a modest compound annual growth rate (CAGR) of 2.5% during the forecast period of 2021 to 2026.

Due to the superfluous population density in APAC, the agricultural sector is making strides in the region to fulfill the catapulting demand for food. Subsequently, sulphuric acid which finds application in the agricultural sector is observing an augmented demand. Additionally, there is a gamut of chemical industries in APAC, and sulphuric acid is the most important industrial chemical used in the manufacturing process of various chemicals such as hydrochloric acid and nitric acid. Owing to the fact that APAC is also witnessing a massive growth in the pharmaceutical sector which is also a sulphuric acid marketplace, the region bore a majority share of 36% in 2018.

Sulphuric Acid Market Outlook:

Sulphuric acid is a mineral acid with a strong acidic nature that is composed of hydrogen, sulphur, and oxygen and has dehydrating and hygroscopic properties. It is also called “king of chemicals” as it has a myriad of applications in the industrial, agricultural, pharmaceutical, and automotive sector (for batteries).

Sulphuric acid is specifically utilized in the manufacturing of phosphate fertilizers. According to the Food and Agricultural Organization (FAO), the demand for phosphate fertilizer nutrient will increase from 43.19 million tons in 2017 to 45.86 million tons in 2018[2]. Owing to this propitious progress in the phosphate fertilizer manufacturing industry across the globe, the sulphuric acid market will be booming during the forecast period. Resultantly, the application CAGR of sulphuric acid in the fertilizers manufacturing is gauged to be 5.4% through to 2026.

Sulphuric Acid Market Growth Drivers:

• The Projected Growth of the Automobile Sector -

According to the World Economic Forum, the number of cars on the roads of the world is going to get doubled by 2040, a figure that will quantifiably translate to a colossal 2 billion vehicles[3]. This will lead to a surge in demand for car batteries, and each battery utilizes nearly 1 kg of sulphuric acid because it is capable of reacting with lead oxide and lead and subsequently generate the electric current. The consistently growing number of vehicles coupled with that fact that they will be incorporated with the sulphuric acid batteries will be creating a sustainable sulphuric acid marketplace for the vendors. Additionally, this rise in the number of cars and other vehicles will be boosting the production in refineries wherein sulphuric acid is used for a gamut of purposes such as alkylation.

• The Imperative Water Treatment Plants in Industries -

Owing to the governmental regulations pertaining to the wastewater that exits various chemical industries, the field of water treatment has gained prominence worldwide. Each industry now has an operation water treatment unit to ensure that the wastewater that comes out of the manufacturing plant is ecofriendly. These wastewater plants chiefly use sulphuric acid in order to neutralize the pH of wastewater. The future foresees more stringent rules regarding wastewater which will further flourish the sulphuric acid market.

• The Growing Demand for Detergent Supporting the Sulphuric Acid Market -

There is a palpable growth in the demand for detergents, and it’s quite evident in the augmented sales of washing machines worldwide. According to a business intelligence report , the surfactants market size was identified to be $35.426 billion in 2018 with projected growth in demand of 5.38% through to 2026. Apparently, this growth in the global sales of surfactants will largely support the sulphuric acid market, because the chemical is used to produce the water-loving end of the surfactant molecule.

Sulphuric Acid Market Trends:

In March 2021, Morocco’s OCP Group and Spain’s ACS Group signed two contracts to build two sulphuric acid plants that will be the largest sulphuric acid manufacturing units in the world. This contract chiefly attributes to the demand for sulphuric acid in the manufacturing of phosphate fertilizers.

In March 2021, Wata Chemicals opened its second sulphuric acid manufacturing unit. This expansion is envisioned to fulfill the growing demand for sulphuric acid in the water treatment and oil & gas sector that are two major industries influencing the sulphuric acid market.

Sulphuric Acid Market Challenges:

The major challenge dwarfing the prospects in the sulphuric acid market is the governmental regulations that are restraining the use of sulphuric acid. Furthermore, sulphuric acid causes irritation in the skin and eyes. While these reasons are creating obstacles for the vendors, on the other hand, many countries in APAC haven’t yet observed any stringent law applicable to the use of sulphuric acid which makes the region a viable sulphuric acid marketplace. Moreover, the increasing demand for fertilizers and surging application of sulphuric acid for water treatment will keep the ball rolling for the vendors in the sulphuric acid market.

Sulphuric Acid Market Key Players Perspective:

The key players striving to capitalize on the demand influx in the sulphuric acid market are The Mosaic Company, PotashCorp, Groupe Chimique Tunisien, Maaden - Saudi Arabian Mining Company and OCP Group, PVS Chemicals, Aurubis, Chemtrade Logistics Income Fund, BASF SE, Akzonoble NV, DowDupont, and INEOS Enterprises and Agrium Inc.

Sulphuric Acid Market Research Scope:

The base year of the study is 2018, with forecast done up to 2026. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the sulphuric acid market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of sulphuric acid, and their specific applications in phosphate fertilizers, chemical manufacturing, agricultural chemistry, and electrolyte in lead-acid storage battery.

Sulphuric Acid Market Report: Industry Coverage

The report analyses the product based on its manufacturing processes which are lead chamber and contact.

The sulphuric acid market report also analyzes the major geographic regions as well as the major countries in these regions. The regions and countries covered in the study include:

• North America: The U.S., Canada, Mexico
• South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
• Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark
• APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
• Middle East and Africa: Israel, South Africa, Saudi Arabia

A Few Focus Points Of This Research Are Given Below:

• Give a deep-dive analysis of the key operational strategies with focus on the corporate structure, R&D strategies, localization strategies, production capabilities, and sales performance of various companies
• Provide an overview of the product portfolio, including product planning, development, and positioning
• Discuss the role of technology companies in partnerships
• Explore the regional sales activities
• Analyze the market size and giving the forecast for current and future global sulphuric acid market during the forecast 2018-2023
• Analyze the competitive factors, competitors’ market shares, product capabilities, and supply chain structures