Soaring Demand for High Crop Yield to Provide Tailwind to Sulfuric Acid Market

 

Market Overview

Sulfuric Acid Market Is Expected To Grow At A Significant Rate Of 2.76% CAGR With The Sulfuric Acid Market Size Of USD 12.36 Billion During The Forecast Period (2021-2027), Market Research Future (MRFR) unveils in a detailed report. Sulfuric acid is considered one of the largest industrial chemicals in terms of volume. Sulfuric acid, also termed as vitriol, is a mineral acid, which is composed of oxygen, sulfur, and hydrogen, and is an odorless, colorless, and syrup liquid. Sulfuric acid is soluble in water and is synthesized in reactions, which are considered highly exothermic.

Market Potential and Pitfalls

The demand for sulfuric acid is skyrocketing across the globe, mainly due to the soaring demand for sulfur-based fertilizers. Sulfuric acid is extensively used in the wastewater treatment and oil & gas industry, which is likely to trigger the demand from the sulfuric acid market. Sulfuric acid is extensively used to manufacture fertilizers and chemicals and is used in metal processing. This is anticipated to accelerate the market growth across the globe. It is highly used as a catalyst, dehydrating agent, and reactant by the automotive sector. The increasing demand for excellent food quality and high crop yield from the agricultural industry are further anticipated to stimulate the market in the long run. Sulfuric acid is also used in automotive batteries, which is likely to act as a primary growth stimulant for the market.

 

On the flipside, fluctuating raw material prices are considered to restrict the market growth in the coming years. Strict government mandates restricting the use of sulfuric acid is likely to hinder the market growth. Moreover, ill effects of sulfuric acid on human health like irritation in the eyes and skin and skin sensitiveness are expected to vitiate the market growth in the coming years.

 

Competitive Dashboard

The top players operating in the global sulfuric acid market include 

Akzo Nobel
Agrium
Bp
Bayer
Cytec Industries
Chevron
Evonik Industries
Dupont
Honeywell
and Solvay.

 

Global Sulfuric Acid Market: Segmental Analysis

The sulfuric acid producers has been segmented on the basis of type and application.

By type, the sulfuric acid market is segmented into battery acid, dilute sulfuric acid, chamber acid, and concentrated sulfuric acid.

By application, the sulfuric acid market is segmented into pulp and paper industry and phosphate fertilizers. Of these, the phosphate fertilizers segment is likely to gain prominence as sulfuric acid is largely used to manufacture phosphate fertilizers, which is highly preferred in modern agricultural practices.

 


Regional Frontiers

Geographically, the sulfuric acid market spans across the Asia Pacific, North America, Europe, and the Rest of the World (RoW).

Considering the global scenario, Asia Pacific resonates strong growth opportunities and is likely to rule the market in the coming years. In this region, China alone acquires almost half of the market in terms of production. Consumption of fertilizer in India represents a massive number, due to the existence of a large agriculture base in the country. These factors are likely to trigger the demand from the sulfuric acid market in the foreseeable future. The recent boom in the chemical industry, soaring developmental strategies like setting up of production facilities to meet the increased demand for sulfuric acid, and easy availability of raw materials are predicted to encourage the sulfuric acid market in the APAC.

The sulfuric acid market in North America is likely to register significant growth owing to the soaring demand for sulfuric acid for the production of fertilizers. Strict regulations by the government to produce sulfuric acid is likely to promote the regional market’s growth.

 

Industry Updates

March 2019: Outotec has recently inked a contract with the Moroccan OCP Group for delivery of sulfuric acid plant to produce fertilizer. The delivery comprises procurement, engineering, and construction of the plant and is based on Outotec's sulfur burning system. This all-new acid plant will incorporate advanced technologies like HEROS heat recovery system, absorption towers, a converter, and an acid distribution system made of the Edmeston SX stainless steel alloy.

 

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact:

Market Research Future

Office No. 528, Amanora Chambers

Magarpatta Road, Hadapsar,

Pune – 411028

Maharashtra, India

+1 646 845 9312


Related Links: 

https://www.marketresearchfuture.com/reports/uv-curable-resins-formulated-products-market-863


https://www.marketresearchfuture.com/reports/soap-noodles-market-1095


https://www.marketresearchfuture.com/reports/pyridines-market-1145


https://www.marketresearchfuture.com/reports/natural-polymer-market-1632


https://www.marketresearchfuture.com/reports/levulinic-acid-market-1639

 

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