Sulfuric Acid Market - Overview
Sulfuric acid is an extremely corrosive acid that is highly soluble in water. It is one of the most widely produced and consumed bulk chemicals worldwide. Sulfuric acid is employed in a wide range of industrial and domestic applications. It is extensively employed in fertilizers, wastewater treatment, chemical synthesis, metal & mining, paper, and pharmaceutical applications.
Based on application, the global sulfuric acid market has been segmented into fertilizers, chemical synthesis, wastewater treatment, metal & mining, semiconductors, and others (including pulp & paper, pharmaceuticals, and batteries). In terms of volume, the fertilizers segment accounted for more than 60% share of the global sulfuric acid market in 2017. However, the chemical synthesis segment is projected to expand at a rapid pace by 2026. Demand for sulfuric acid from this segment is estimated to increase by 2026 owing to extensive use of the acid for synthesizing other industrial chemicals. Sulfuric acid is used to manufacture dyes, pigments, commodity chemicals, titanium dioxide, and pharmaceuticals. Hence, extensive use of sulfuric acid and rapid industrialization are estimated to drive the global market during the forecast period. Significant growth of the global fertilizers industry is another key factor propelling the demand for sulfuric acid. Sulfuric acid is a major raw material employed in the processing of phosphate fertilizers such as calcium dihydrogenphosphate, diammonium phosphate, and triple superphosphate. Raw materials rich in sulfur content are used to manufacture phosphate fertilizers; therefore, sulfuric acid is preferred in this application. Hence, rise in utilization of fertilizers for agricultural activities in regions such as Latin America, Asia Pacific, and North America is expected to boost the consumption of sulfuric acid by 2026.
In terms of demand, Asia Pacific dominated the global sulfuric acid market in 2017. The market in the region is likely to expand at a rapid pace during the forecast period. Sure in utilization of sulfuric acid to produce fertilizers and in the processing of other industrial chemicals, and increase in government initiatives and collaborations with global manufacturing firms are major factors driving market in the region. Demand for sulfuric acid is low in Europe and North America due to implementation of stringent government regulations in these regions. Rise in mining activities for copper ores is a key driver of the sulfuric acid market in Latin America. Recovery of sulfur from oil & gas refineries in Middle East & Africa is projected to boost the market in the region.
The report analyzes and forecasts the sulfuric acid market at the global and regional levels. The market has been projected in terms of volume (Kilo Tons) and value (US$ Mn) for the period from 2018 to 2026. The study includes drivers and restraints of the global sulfuric acid market. It also encompasses the anticipated impact of these drivers and restraints on the demand for sulfuric acid during the forecast period. The report highlights opportunities in the market at global and regional levels.
The report comprises detailed value chain analysis, which provides a comprehensive view of the global sulfuric acid market. The Porter’s five forces model for the sulfuric acid market has also been included to help understand the competition landscape of the market. The study encompasses market attractiveness analysis, wherein application segments have been benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the global sulfuric acid market by segmenting it in terms of application and region. These segments have been analyzed based on the present and future trends. Regional segmentation includes the current and forecast demand for sulfuric acid in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers individual application segments of the market in every region.
The study includes profiles of major companies operating in the global sulfuric acid market. Key players profiled in the report on the global sulfuric acid market include The Mosaic Company, Chemtrade Logistics Inc., Khaitan Chemicals & Fertilizers Limited, BASF SE, Nouryon, Southern States Chemical, PQ Corporation, Ma’aden, INEOS, and PVS Chemicals. Market leaders engage in strategic pricing and product improvement to increase their profit margins.
Key Takeaways
- The report provides extensive analysis of market trends from 2018 to 2026 to identify growth opportunities and market developments
- It provides comparative analysis of various applications wherein sulfuric acid is utilized
- It identifies key factors that create opportunities in the sulfuric acid market at global, regional, and country levels
- The report offers comprehensive analysis with respect to investments and regulatory scenario that are likely to impact the outlook and forecast of the global sulfuric acid market between 2018 and 2026
- It provides a detailed competition landscape of key players operating in the market in order to help understand the competition level
- The report covers the import–export analysis for 2017
- The report provides a detailed pricing analysis based on regional and application segments
- The report offers Porter’s Five Forces Analysis to highlight the power of buyers and suppliers
