Sulfuric Acid Market Growth Rate

LONDON, Dec. 21, 2021 (GLOBE NEWSWIRE) — Sulfuric acid, also known as oil of vitriol or hydrogen sulfate, is a dense, colorless, oily, corrosive liquid that is one of the most important commercially available acids. Sulfuric acid is a highly reactive acid that oxidizes, dehydrates, or sulfonates the majority of organic compounds, frequently resulting in charring. Sulfuric acid is used to make fertilizers, chemicals, dyes, glass, paper, soaps, textiles, fungicides, insecticides, astringents, and emetics. They’re also used in mining, wood pulp, metal, and plating, as well as sewage treatment and leather processing. Sulfuric acid is well-known for its wide range of applications. It is an important chemical in the industrial field because it is used to make a variety of products and goods and is found in a variety of manufacturing processes.

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Global Sulfuric Acid Market Dynamics

Sulfuric acid is one of the world’s most abundant industrial chemicals. Fertilizer production, particularly phosphate fertilizer production from wet-process phosphoric acid, is the major end-use market for sulfuric acid, accounting for more than 60% of total global consumption in 2020. This share is expected to fall slightly through 2025, owing to the faster growth of metal leaching and steel pickling applications. Furthermore, increased demand for electric vehicles will result in increased use of sulfuric acid in automotive batteries, triggering a new application in the coming years. Moreover, increased adoption of sulfuric acid in the production of nutrient-rich food crop will boost the market. Sustainable demand for sulfuric acid owing to its increased use in wastewater treatment, paper & pulp production, and fertilizers will aid the growth in the market.

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Regional Overview

North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa are the regional classification of the global sulfuric acid market. The global demand for sulfuric acid is expected to rise over the next five years. The Asia Pacific region is the largest market, accounting for more than 35% of total consumption in 2020, followed by North America; while Latin America, Europe, and the Middle East are also significant users. Asia-Pacific is expected to dominate the Sulfuric Acid market, owing to the rising population, food consumption, and expanding fertilizer and manufacturing industries in these regions. Furthermore, Asia-Pacific is home to some of the world’s largest manufacturers of sulfuric acid. However, China, the world’s fastest-growing economy, has enormous potential for the pharmaceutical industry, which contributes significantly to the region’s overall growth of Sulfuric Acid over the forecast period. During the forecast period, fertilizer demand for sulfuric acid is expected to rise steadily, while demand for chemical and industrial applications is expected to rise at a slightly faster rate.

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Market Segmentation

By raw material type, the global sulfuric acid market is classified into elemental sulfur, base metal smelters, pyrite ore, and others. The elemental sulfur holds the largest market share in 2020. Elemental sulfur has been used as a pesticide for thousands of years and has been approved used in hundreds of products in the US since the 1920s. Elemental sulfur can be used as an insecticide, repellent, fertilizer, acaricide, rodenticide, and soil amendment to lower soil pH in agricultural applications. Furthermore, using the elemental sulfer in sulfuric acid production is less polluting than pyrite ore roasting and base metal smelting, where companies/factories must follow strict procedures to treat the emitted SO2 gases before releasing them into the atmosphere.

By purity type, the market is divided into standard and ultra-pure. The ultra-pure sulfuric acid market is expected to grow significantly in the coming years, owing to rising demand from the semiconductor industry and expanding applications in the pharmaceutical industry. Furthermore, in the electrical and electronics industries, ultra-pure sulfuric acid is used in varying concentrations during the fabrication of printed circuit boards, as an etching agent for the production of semi-conductors, cleaning agents, and other applications. These factors have increased demand for ultra-pure sulfuric acid over the years.

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By applications, the market is separated by Fertilizers, Chemical manufacturing, Metal Processing, Petroleum Refining, Textile Industry, Automotive, Pulp & Paper, and Others. In 2020, the fertilizers segment will dominate the global sulfuric acid market. Fertilizer production is the most important end-use market for sulfuric acid, accounting for more than 60% of total global consumption. Fertilizers containing three primary nutrients are used by farmers all over the world to improve the quality and yield of fruit and vegetable crops: nitrogen, phosphorus, and potassium. Some fertilizers, such as the two-component fertilizers Monoammonium Phosphate (MAP) and Diammonium Phosphate (DAP) provide farmers with an efficient way to deliver nitrogen and phosphorus to soils. Sulfuric acid is used as a key first step in the production of both MAP and DAP before being combined with phosphate rock to produce phosphoric acid. These factors are propelling the global sulfuric acid market forward.

Major Players

Some major players covered in global sulfuric acid markets are BASF SE, Akzonobel N.V., Ineos Enterprises, Limited, The Mosaic Company, Potashcorp, Aurubis, PVS Chemicals, Inc., and Sumitomo Chemical, Chemtrade Refinery, DuPont, Nouryon, OCP Group among others.

  • In November 2020, DuPont Clean Technologies introduces two new sulfuric acid catalysts: MECS® Super GEARTM and MECS® XLP-310, which expand on the company’s well-established GEAR® and XLP catalyst product lines.
  • In November 2017, BASF introduced the new O4115 Quattro sulfuric acid catalyst in the market. Because of its geometrical shape, a combination of four strands, the new cesium-based catalyst has a 30% greater catalytic surface area than conventional sulfuric acid catalysts.

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