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(I-AutoNewsWire.com, June 07, 2023 ) The report "Sulfuric Acid Market by Raw Material (Elemental Sulfur, Base Metal Smelters, Pyrite Ore), Application (Fertilizers, Chemical Manufacturing, Metal Processing, Petroleum Refining, Textile Industry, and Automotive) and Region - Global Forecast to 2027", is projected to grow from USD 13.2 billion in 2020 to USD 28.5 billion by 2027, at a CAGR of 11.7% during the forecast period. Expanding market for fertilizers, chemical manufacturing and metal processing is expected to drive the sulfuric acid market.
The sulfuric acid industry is involved in the production and distribution of sulfuric acid, which is a highly corrosive and strong acid. Sulfuric acid is widely used in various industrial sectors due to its versatile properties and applications. It is primarily produced by the contact process, where sulfur dioxide (SO2) is oxidized to sulfur trioxide (SO3) using a catalyst, followed by the absorption of the SO3 in water to form sulfuric acid.
Browse in-depth TOC on "Sulfuric Acid Market”
216 - Market Data Tables
34 - Figures
196 - Pages
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The end-use demand for sulfuric acid is diverse and extensive, spanning across several industries. Some of the major applications and end uses of sulfuric acid include:
Chemical Manufacturing: Sulfuric acid is a crucial raw material for the production of a wide range of chemicals such as fertilizers, detergents, dyes, pigments, synthetic fibers, pharmaceuticals, and explosives.
Fertilizer Production: Sulfuric acid is used in the manufacturing process of phosphate fertilizers, including superphosphate, triple superphosphate, and ammonium phosphate fertilizers. It helps in the conversion of phosphate rock into water-soluble phosphates that are readily absorbed by plants.
Metal Processing: Sulfuric acid is employed in various metal processing operations, such as pickling and cleaning of metals (e.g., steel and iron) to remove rust, scales, and other impurities. It is also used in ore leaching processes for the extraction of metals like copper, zinc, nickel, and uranium.
Petroleum Refining: Sulfuric acid finds application in petroleum refining for the purification of petroleum products and the removal of impurities, such as sulfur compounds.
Waste Treatment: Sulfuric acid is utilized in wastewater treatment processes, particularly in the neutralization of alkaline wastewater and the removal of heavy metals from industrial effluents.
Battery Manufacturing: Lead-acid batteries, commonly used in vehicles and backup power systems, require sulfuric acid as the electrolyte for their operation.
Textile Industry: Sulfuric acid is employed in the textile industry for various purposes, including dyeing, bleaching, and desizing of fabrics.
Paper Production: Sulfuric acid is used in the manufacturing process of paper to remove lignin and separate cellulose fibers.
Water Treatment: Sulfuric acid is utilized in the treatment of drinking water and wastewater to control pH levels, remove impurities, and disinfect water.
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The elemental sulfur segment is expected to hold the largest share of the sulfuric acid market, during the forecast period
The elemental sulfur segment is expected to lead the sulfuric acid market during the forecast period by volume. Elemental sulfur is the major feedstock used for the production of sulfuric acid. Elemental sulfur is one of the widely used raw material in the production of sulfuric acid and with the growing demand for sulfuric acid the segment is expected to grow.
The chemical manufacturing segment, by application, is expected to account for the second largest market during the forecast period
Based on application, the sulfuric acid is classified into fertilizers, metal processing, pulp & paper, petroleum refining, textile industry, automotive, chemical manufacturing, and others. Sulfuric acid is used in the manufacturing process of many well-known chemicals, including hydrochloric acid, nitric acid, phosphoric acid, and many other industrial chemicals. It is also used in the manufacturing of hydrofluoric acid and phenol with propanone, all of which are used in many industries. Thus, usage of sulfuric acid in the production of wide range of chemical is expected to drive the market.
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Asia Pacific region is expected to be the largest and fastest growing sulfuric acid market
Asia Pacific is expected to lead the sulfuric acid market during the forecast period by value. This demand can be attributed to the high growth in emerging economies such as China and India, sthat has made Asia Pacific a huge market for sulfuric acid. China is one of the largest markets for sulfuric acid across the globe and is expected to contribute a major portion to the overall regional demand for sulfuric acid during the forecast period.
Some of the leading players in this market include The Mosaic Company (US), BASF SE (Germany), OCP Group (Morocco), Chemtrade Logistics Income Fund (Canada), and Nouryon (Netherlands) among others.
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