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Sulfuric Acid Market Size, Share & Trends Analysis Report By Raw Material (Elemental Sulfur, Pyrite Ore, Base Metal Smelters), By Application (Fertilizers, Automotive, Textile Industry), By Region, And Segment Forecasts, 2023 - 2030

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    Report

  • 130 Pages
  • August 2023
  • Region: Global
  • Grand View Research
  • ID: 5876148
The global sulfuric acid market size is expected to reach USD 17.94 billion by 2030 and is anticipated to grow at a CAGR of 3.7% from 2023 to 2030,. The industry growth is majorly driven by the increasing global demand for the application of H2SO4 in end-use industries, such as textile, chemical, agriculture, petroleum refining, and automotive. The increasing developments in agricultural biotechnology to produce food crops, as well as feed crops for livestock & poultry, are expected to boost the demand for nutrient-rich crop yield. The nutrient-rich crops contain iron, vitamins, and other related protein that are useful for the human body in keeping it healthy and disease-free. Through the addition of appropriate mineral or inorganic compounds to fertilizers, the biofortification of crops is improved.

The micronutrients in soil play a vital role in producing nutrient-rich food crops. The growing product usage for enhanced food crop yield is projected to drive market growth. Moreover, the increasing product application scope in the automotive industry will drive its demand over the forecast period. As per the International Organization of Motor Vehicle Manufacturers (OICA), the global production of cars was 55.83 million in 2020, which further grew to 57.05 million in 2021 and 61.6 million in 2022. The production of automobiles is rising owing to the increasing population and growing disposable incomes. This has increased the purchasing power of consumers, thereby boosting luxury car sales in rapidly growing countries like India, China, and Japan along with some European countries. Thus, the rising product demand from the automobile industry is expected to contribute to market growth over the forecast period.

Sulfuric Acid Market Report Highlights

  • The global market is estimated to advance with a CAGR of 3.7% from 2023 to 2030 due to the high demand for the production of nutrient-rich food crops resulting in increased usage of H2SO4-infused fertilizers necessary for providing required nutrients to the crops
  • Base metal smelters will emerge as the fastest-growing raw material segment with a CAGR of 4.9% from 2023 to 2030. Adoption of strict processes by the companies for treating emitted SO2 while producing H2SO4 is expected to influence the market growth negatively
  • However, the rising recovery of sulfuric acid as a by-product of smelters will enhance the trade of H2SO4, which is projected to influence the market over the forecast period positively
  • The metal processing application segment is estimated to register the fastest CAGR of 4.9% from 2023 to 2030. In the metal processing industry, it is primarily used to remove rust and other contaminants from metal surfaces, including iron, steel, copper, and aluminum. This cleaning process is known as picklin
  • Middle East & Africa emerged as the second-largest region, in terms of revenue, in 2022 and is anticipated to have a CAGR of 3.4% from 2023 to 2030. The growing supply of H2SO4 products from Saudi Arabia and Morocco due to the presence of a large number of acid manufacturing facilities is expected to spur market growth over the forecast period
  • The market is highly fragmented with numerous small and large participants, both international and regional, offering a wide range of products and services. These players are involved in M&A and expansions to establish their position in the market
  • For instance, in December 2022, Chemtrade Logistics from Cairo, Ohio announced the expansion of its UltraPure Sulphuric Acid production unit for USD 50 million

Table of Contents

Chapter 1 Methodology and Scope
1.1 Market Segmentation & Scope
1.2 Market Definition
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 Internal Database
1.4 Information analysis
1.5 Market formulation & data visualization
1.6 Data validation & publishing
1.6.1 Research scope and assumptions
1.6.2 List of Data Sources
Chapter 2 Executive Summary
2.1 Market Snapshot
2.2 Segment Snapshot
2.3 Competitive Landscape Snapshot
Chapter 3 Sulfuric Acid: Market Variables, Trends & Scope
3.1 Market Size And Growth Prospects, 2018 - 2030 (Million tons) (USD million)
3.2 Industry Value Chain Analysis
3.3 Market Dynamics
3.3.1 Market Driver Analysis
3.3.1.1 Increase in the production of nutrient-rich food crops
3.3.1.2 Sustainable demand for sulfuric acid due to its diversified applications
3.3.2 Market Restraint Analysis
3.3.2.1 Strict environmental regulations
3.3.3 Key Opportunities
3.4 Industry Analysis Tools
3.4.1 Porter’s Analysis
3.4.2 Macroeconomic Analysis - PESTLE Analysis
Chapter 4 Sulfuric Acid Market: Raw Material Estimates & Trend Analysis
4.1 Raw Material Movement Analysis & Market Share, 2022 & 2030
4.1.1 Elemental Sulfur
4.1.2 Base Metal Smelters
4.1.3 Pyrite Ore
4.1.4 Other Raw Materials
Chapter 5 Sulfuric Acid Market: Application Estimates & Trend Analysis
5.1 Application Movement Analysis & Market Share, 2022 & 2030
5.1.1 Fertilizers
5.1.2 Chemical Manufacturing
5.1.3 Metal Processing
5.1.4 Petroleum Refining
5.1.5 Textile Industry
5.1.6 Automotive
5.1.7 Pulp & Paper
5.1.8 Other Applications
Chapter 6 Sulfuric Acid Market: Regional Estimates & Trend Analysis
6.1 Sulfuric Acid Market: Regional Outlook
6.2 North America
6.2.1 North America Sulfuric Acid Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Million)
6.2.2 U.S.
6.2.2.1 Key country dynamics
6.2.2.2 U.S. Sulfuric Acid Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Million)
6.2.3 Canada
6.2.3.1 Key country dynamics
6.2.3.2 Canada Sulfuric Acid Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Million)
6.2.4 Mexico
6.2.4.1 Key country dynamics
6.2.4.2 Mexico Sulfuric Acid Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Million)
6.3 Europe
6.3.1 Europe Sulfuric Acid Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Million)
6.3.2 Germany
6.3.2.1 Key country dynamics
6.3.2.2 Germany Sulfuric Acid Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Million)
6.3.3 France
6.3.3.1 Key country dynamics
6.3.3.2 France Sulfuric Acid Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Million)
6.3.4 Russia
6.3.4.1 Key country dynamics
6.3.4.2 Russia Sulfuric Acid Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Million)
6.4 Asia Pacific
6.4.1 Asia Pacific Sulfuric Acid Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Million)
6.4.2 China
6.4.2.1 Key country dynamics
6.4.2.2 China Sulfuric Acid Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Million)
6.4.3 India
6.4.3.1 Key country dynamics
6.4.3.2 India Sulfuric Acid Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Million)
6.4.4 Japan
6.4.4.1 Key country dynamics
6.4.4.2 Japan Sulfuric Acid Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Million)
6.5 Central & South America
6.5.1 Central & South America Sulfuric Acid Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Million)
6.6 Middle East & Africa
6.6.1 Middle East & Africa Sulfuric Acid Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Million)
6.6.2 Saudi Arabia
6.6.2.1 Key country dynamics
6.6.2.2 Saudi Arabia Sulfuric Acid Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Million)
Chapter 7 Competitive Landscape
7.1 Participant’s Overview
7.2 Financial Performance
7.3 Product Benchmarking
7.4 Vendor Landscape
7.5 Competitive Environment
7.6 Key Strategy Mappings
7.6.1 Expansion
7.6.2 Merger & Acquisition
7.6.3 New Product Launches
7.7 Company Listing (Business Overview, Financial Performance, Product Benchmarking)
7.7.1 The Mosaic Company
7.7.2 AkzoNobel N.V.
7.7.3 BASF SE
7.7.4 PVS Chemical Solution
7.7.5 Solvay
7.7.6 Agrium Inc.
7.7.7 INEOS
List of Tables
Table 1 U.S. macro - economic outlay
Table 2 Canada macro - economic outlay
Table 3 Mexico macro - economic outlay
Table 4 Germany macro - economic outlay
Table 5 France macro - economic outlay
Table 6 Italy macro - economic outlay
Table 7 China macro - economic outlay
Table 8 India macro - economic outlay
Table 9 Japan macro - economic outlay
Table 10 Saudi Arabia macro - economic outlay
Table 11 Participant’s Overview
Table 12 Financial Performance
Table 13 Product Benchmarking
Table 14 Vendor Landscape
Table 15 Key Companies Undertaking Expansion
Table 16 Key Companies Undertaking M & A
Table 17 Key Companies Launching New Products
List of Figures
Fig. 1 Sulfuric Acid Market Segmentation & Scope
Fig. 2 Information procurement
Fig. 3 Data analysis models
Fig. 4 Market formulation and validation
Fig. 5 Data validating & publishing
Fig. 6 Sulfuric Acid Market Snapshot
Fig. 7 Sulfuric Acid Market Segment Snapshot
Fig. 8 Sulfuric Acid Market Competitive Landscape Snapshot
Fig. 9 Sulfuric acid market size, 2018 - 2030 (Million Tons) (USD Million)
Fig. 10 Sulfuric Acid Market - Value Chain Analysis
Fig. 11 Sulfuric Acid Production Process
Fig. 12 Sulfuric Acid Market Dynamics
Fig. 13 Growing population & shrinking arable land, 2005 Vs 2020
Fig. 14 Global Car Production, 2020-2022 (Million)
Fig. 15 Indian Chemical Industry Market Size (USD Billion)
Fig. 16 Sulfuric Acid Market: Porter’s Analysis
Fig. 17 Sulfuric Acid Market: PESTLE Analysis
Fig. 18 Sulfuric Acid Market Estimates & Forecasts, by Raw Material: Key Takeaways
Fig. 19 Sulfuric Acid Market Share, By Raw Material, 2022 & 2030
Fig. 20 Elemental Sulfur Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Million)
Fig. 21 Base Metal Smelters Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Million)
Fig. 22 Pyrite Ore Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Million)
Fig. 23 Other Raw Materials Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Million)
Fig. 24 Sulfuric Acid Market Estimates & Forecasts, by Application: Key Takeaways
Fig. 25 Sulfuric Acid Market Share, By Application, 2022 & 2030
Fig. 26 Sulfuric Acid Market Estimates & Forecasts, in Fertilizers, 2018 - 2030 (Million Tons) (USD Million)
Fig. 27 Sulfuric Acid Market Estimates & Forecasts, in Chemical Manufacturing, 2018 - 2030 (Million Tons) (USD Million)
Fig. 28 Sulfuric Acid Market Estimates & Forecasts, in Metal Processing, 2018 - 2030 (Million Tons) (USD Million)
Fig. 29 Sulfuric Acid Market Estimates & Forecasts, in Petroleum Refining, 2018 - 2030 (Million Tons) (USD Million)
Fig. 30 Sulfuric Acid Market Estimates & Forecasts, in Textile Industry, 2018 - 2030 (Million Tons) (USD Million)
Fig. 31 Sulfuric Acid Market Estimates & Forecasts, in Automotive, 2018 - 2030 (Million Tons) (USD Million)
Fig. 32 Sulfuric Acid Market Estimates & Forecasts, in Pulp & Paper, 2018 - 2030 (Million Tons) (USD Million)
Fig. 33 Sulfuric Acid Market Estimates & Forecasts, in Other Applications, 2018 - 2030 (Million Tons) (USD Million)
Fig. 34 Sulfuric Acid Market Revenue, by Region, 2022 & 2030 (USD Million)
Fig. 35 North America Sulfuric Acid Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Million)
Fig. 36 U.S. Sulfuric Acid Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Million)
Fig. 37 Canada Sulfuric Acid Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Million)
Fig. 38 Mexico Sulfuric Acid Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Million)
Fig. 39 Europe Sulfuric Acid Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Million)
Fig. 40 Germany Sulfuric Acid Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Million)
Fig. 41 France Sulfuric Acid Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Million)
Fig. 42 Russia Sulfuric Acid Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Million)
Fig. 43 Asia Pacific Sulfuric Acid Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Million)
Fig. 44 China Sulfuric Acid Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Million)
Fig. 45 India Sulfuric Acid Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Million)
Fig. 46 Japan Sulfuric Acid Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Million)
Fig. 47 Central & South America Sulfuric Acid Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Million)
Fig. 48 Middle East & Africa Sulfuric Acid Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Million)
Fig. 49 Saudi Arabia Sulfuric Acid Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Million)

Companies Mentioned

  • The Mosaic Company
  • AkzoNobel N.V.
  • BASF SE
  • PVS Chemical Solution
  • Solvay
  • Agrium Inc.
  • INEOS

Methodology

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Table Information