According to the report, the global sulphuric acid market reached a volume of 293 million metric tons in 2022. Aided by its pivotal role in numerous industrial applications and the escalating demand from end-user industries, the market is projected to further grow at a CAGR of 1.5% between 2023 and 2028 to reach a volume of 320.4 million metric tons by 2028.
Sulphuric acid, characterised by its strong acidic nature, is a fundamental chemical in the industrial sector. Predominantly, it is employed in the manufacture of fertilisers, specifically phosphates, which command a significant portion of the market demand. Apart from fertilisers, sulphuric acid also plays a crucial role in metal processing, especially in the extraction and purification of metals like copper and zinc. Moreover, its other applications span across sectors like petrochemicals, water treatment, and battery production.
The driving force behind the buoyant global sulphuric acid market growth is the surging demand for fertilisers in the agricultural sector. With the global population on a steady rise, the need to augment crop yields to ensure food security has never been more pronounced. As a result, the fertiliser industry, particularly phosphate fertilisers, is experiencing a boom, in turn, spurring the demand for sulphuric acid.
The automotive sector is another area which witnesses augmentation in sulphuric acid market demand, particularly in the production of lead-acid batteries. As the automotive market grows, the requirement for these batteries, and consequently sulphuric acid, is expected to rise.
The potential expansion of the market also lies in its diversified applications in newer sectors. With research and development advancements, sulphuric acid is finding roles in niche areas like the pharmaceutical industry, where it's used in the synthesis of certain drugs, and in wastewater treatment processes, making it indispensable in modern industrial operations and further adding value to the sulphuric acid market size.
The APAC region, led by countries like China and India, holds a dominant position in the global market. With vast agricultural lands and a persistent need to increase yields, the demand for phosphate fertilisers is exceptionally high in these nations. Rapid industrialisation, especially in sectors like metallurgy, has spurred the demand for sulphuric acid. As per the sulphuric acid market analysis, the presence of significant sulphur reserves in countries like China supports the local production of sulphuric acid.
These high-quality, data-driven analysis provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.
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The analyst always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Sulphuric acid, characterised by its strong acidic nature, is a fundamental chemical in the industrial sector. Predominantly, it is employed in the manufacture of fertilisers, specifically phosphates, which command a significant portion of the market demand. Apart from fertilisers, sulphuric acid also plays a crucial role in metal processing, especially in the extraction and purification of metals like copper and zinc. Moreover, its other applications span across sectors like petrochemicals, water treatment, and battery production.
The driving force behind the buoyant global sulphuric acid market growth is the surging demand for fertilisers in the agricultural sector. With the global population on a steady rise, the need to augment crop yields to ensure food security has never been more pronounced. As a result, the fertiliser industry, particularly phosphate fertilisers, is experiencing a boom, in turn, spurring the demand for sulphuric acid.
The automotive sector is another area which witnesses augmentation in sulphuric acid market demand, particularly in the production of lead-acid batteries. As the automotive market grows, the requirement for these batteries, and consequently sulphuric acid, is expected to rise.
The potential expansion of the market also lies in its diversified applications in newer sectors. With research and development advancements, sulphuric acid is finding roles in niche areas like the pharmaceutical industry, where it's used in the synthesis of certain drugs, and in wastewater treatment processes, making it indispensable in modern industrial operations and further adding value to the sulphuric acid market size.
The APAC region, led by countries like China and India, holds a dominant position in the global market. With vast agricultural lands and a persistent need to increase yields, the demand for phosphate fertilisers is exceptionally high in these nations. Rapid industrialisation, especially in sectors like metallurgy, has spurred the demand for sulphuric acid. As per the sulphuric acid market analysis, the presence of significant sulphur reserves in countries like China supports the local production of sulphuric acid.
Market Segmentation
The market can be divided based on application and region.Market Breakup by Application
- Fertilizers
- Chemicals
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global sulphuric acid market.Some of the major players explored in the report are as follows:
- INEOS Group
- BASF SE
- DuPont de Nemours, Inc.
- PVS Chemicals, Inc.
- Chung Hwa Chemical Industrial Works, Ltd.
- Others
About the Analyst
Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.These high-quality, data-driven analysis provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.
Don't miss the opportunity to elevate your business intelligence and strengthen your strategic planning. Secure your organisation's future success by acquiring one of these reports today.
The analyst always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Table of Contents
1 Preface2 Report Coverage - Key Segmentation and Scope4 Key Assumptions7 Industry Opportunities and Challenges
3 Report Description
5 Executive Summary
6 Snapshot
8 Global Sulphuric Acid Market Analysis
9 Regional Analysis
10 Market Dynamics
11 Trade Data Analysis (HS Code - 2807)
12 Price Analysis
13 Global Sulphuric Market Analysis
14 Competitive Landscape
15 Industry Events and Developments
1 Manufacturing Process
2 Project Requirement and Cost Analysis
List of Key Figures and Tables
Companies Mentioned
- INEOS Group
- BASF SE (OTCMKTS: BASFY)
- DuPont de Nemours Inc. (NYSE: DD)
- PVS Chemicals Inc.
- Chung Hwa Chemical Industrial Works LTD.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 168 |
| Published | October 2023 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value in 2023 | 297.41 MMT |
| Forecasted Market Value by 2028 | 320.4 MMT |
| Compound Annual Growth Rate | 1.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 5 |
