Quick Summary:
In the world of chemical manufacturing, the sulfuric acid market has a significant role, due to its strong, hygroscopic, and oxidizing properties, making it an essential component in various industries. At high temperatures, sulfuric acid acts as a potent oxidizing and dehydrating agent, further amplifying its immense value to both traditional and budding sectors.
Among the primary uses of sulfuric acid, the demand in agriculture and farming, particularly in fertilizer production, dominates. This report outlines how the increasing reliance on fertilizers worldwide is driving the exponential growth of sulfuric acid consumption. In addition to this, with the progression of urbanization, the escalating urban population's need for food is accelerating the demand for fertilizers. This dynamic change will consequently result in an augmented necessity for sulfuric acid, facilitating its market growth.
Furthermore, this report offers a detailed review of the market, highlighting the influencing factors such as emerging applications in industries like pharmaceutical, paper, pulp, and textile, waste recovery, and in the compliance with emission regulations. Regional market variances are also discussed, emphasizing the dominant Asia Pacific market, led by China. Utilizing this report will allow notice of key developments, and strategic insights into the sulfuric acid market.
Sulfuric acid is very strong and has both hygroscopic and oxidizing properties. The other name for this acid is oil vitriol or mottling acid. At higher temperatures, this acid acts as an oxidizing and dehydrating agent. Sulfuric acid is water soluble and releases heat when dissolved in water.
Uses of sulfuric acid
The major use of sulfuric acid is in agriculture and farming, especially as a fertilizer. Products such as ammonium sulfate and superphosphate of lime that are mainly used in manufacturing phosphate-based fertilizers are made using sulfuric acid. According to the World Bank, the fertilizer consumption in kilograms per hectare of arable land was 146.4 kgs in the world in 2020. The use of fertilizers is growing year-by-year in the agricultural sector, which is expected to increase sulfuric acid consumption.Increasing use of sulfuric acid in fertilizers production
The growing use of fertilizer to produce food products, coupled with increased government investment in the production of sulfuric acid, is expected to increase the market share in the coming years.According to the National Bureau of Statistics China, phosphate, nitrogen, and potash fertilizer production increased in volume from 55.44 million tons in 2021 to 54.96 million tons in 2020. Additionally, as per the fertilizer association of India, the use of fertilizers in 2021-22 was 63.94 million metric tons in India. The use of fertilizer saw a decline of 5.94% in 2021-22 but is expected to regain in the coming years. With the increasing food production in the country, the fertilizer industry is anticipated to grow in the projected period. As the use of fertilizers increases in various countries, the use of sulfuric acid is also expected to increase in the coming years. The rising urban population and growing number of people in urban areas are also rapidly boosting the demand for fertilizers, which will increase the use of sulfuric acid and result in sulfuric acid market growth.
China is expected to be the dominant market in the Asia Pacific region.
This growth is primarily attributed to the rapid demand for sulfuric acid from various Industries such as pharmaceutical, paper, pulp, and textile, among others. Furthermore, the rising demand for recovery of waste printed circuit boards using sulfuric acid is a major factor promoting the growth in China market.In line with the evolving market demands, numerous players are scaling up their operations to meet emerging requirements and offer improved services and solutions. Notable developments from the market include collaboration among major players such as Zhejiang Jiahua Energy Chemical Industry Co. Ltd., Zhejiang Jiafu new material Co. ltd & BASF to expand the current production capacity of electronic-grade sulfuric acid in the China region.
Furthermore, the extensive applications of sulfuric acid for fertilizer usage, chemical manufacturing, metal processing, Automotive & petroleum refining are some of the top sectors that will determine the growth of the market till the forecast period. Also, stringent guidelines for controlling emissions will drive market growth. According to the International Fertilizer Industry estimates, east Asia is the fastest growing segment in terms of Fertilizer (NPK) consumption with 61.94K Kilo tonnes. Based on estimates, South Asia stood second in terms of Fertilizer (NPK) consumption.
Market Developments:
- In May 2022, WeylChem International GmBH acquired INEOS Sulfur Chemical Spain SLU. INEOS is a leading manufacturer of sulfuric acid and has a production capacity of 350,000 tons in Bilbao. After the acquisition, the new company is named “WeylChem Bilbao.” The company has planned to increase its manufacturing capacity in the coming years to have a considerable market share.
- In July 2021, the CM of Odisha, India, launched a new plant to produce sulfuric acid. The plant is expected to produce 2,000 metric tons of sulfuric acid daily. The estimated expenditure in this manufacturing unit was INR 400 crores, and it is targeted to be operational in 2023. Apart from producing sulfuric acid DAP and NPK fertilizers will be produced in the unit. The main aim behind such projects is to increase the production of sulfuric acid, which will lead to the increased production of fertilizers.
Market Segmentation:
By Raw Material
- Elemental Sulfur
- Pyrite Ore
- Base Metal Smelters
- Others
By End-User Industry
- Oil and Gas
- Textile
- Automotive
- Chemical
- Others
By Geography
- North America
- United States
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- United Kingdom
- Germany
- France
- Spain
- Italy
- Others
- Middle East and Africa
- Saudi Arabia
- UAE
- Israel
- Others
- Asia Pacific
- Japan
- China
- India
- South Korea
- Indonesia
- Thailand
- Others
Table of Contents
Companies Mentioned
- Spectrum Chemical Manufacturing Corporation
- The Mosaic Company
- Hibrett Puratex
- Southern States Chemical (Subsidiary of Dulany Industries, Inc.)
- BASF SE
- ACP Labchem, Inc.
- LANXESS
- Nyrstar N.V.
- Aurubis AG
Methodology
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