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Global Sulfuric Acid 2022 Global Industry Report Potential Growth, Share, Demand And Forecast to 2030

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Global Sulfuric Acid 2022 Global Industry Report Potential Growth, Share, Demand And Forecast to 2030

April 22
22:25 2022
Global Sulfuric Acid 2022 Global Industry Report Potential Growth, Share, Demand And Forecast to 2030

Market Overview

The global market trends suggest that the Global Sulfuric Acid Market was valued at USD 9.35 billion in 2015 and is projected to reach USD 11.10 billion by the end of 2027. The global market is projected to grow at a CAGR of 2.87% during the period that ends in 2027. The sulfuric acid market size was 244.26 million tons in 2015 and is projected to reach 278.33 tons by 2021, at a CAGR of 2.20%.

With the greater expectancy of increased yield from farmers and decreasing availability of fertile land for agricultural practices due to growing urbanization, the demand for fertilizers is estimated to increase rapidly. Fertilizers are now an integral part of agriculture and provide the soil with nutrients such as potassium, phosphate, and nitrogen.

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Market Segmentation

The sulfuric acid market segmentation is mentioned as follows:

Based on Raw Material:

  • Elemental Sulfur
  • Base Metal Smelters
  • Pyrite Ore
  • Others (from oil & petroleum refineries)

Each raw material is further described in detail in the report with volume forecasts until 2021

Based on Application:

  • Fertilizers
  • Chemical manufacturing
  • Metal Processing
  • Petroleum Refining
  • Textile Industry
  • Automotive
  • Pulp & Paper
  • Others (wastewater treatment, industrial cleaning agent, drugs & medicines, electronics industry)

Each application segment is further described in detail in the report with value forecasts until 2021

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Based on Region:

  • Asia-Pacific
  • North America
  • Western Europe
  • Central & Eastern Europe
  • Middle East & Africa
  • South America

Regional Analysis

The APAC region is expected to dominate the sulfuric acid market during the forecast period. According to China’s National Bureau of Statistics, in the pandemic year 2020, the country produced over 92.38 million metric tons of sulfuric acid. As a part of the market, Fertilizers consumed a large share of sulfuric acid as over 52.5 million tons of chemical fertilizer were used in China in 2020. In November 2021, Coromandel International, which is India’s second-largest phosphatic fertilizer player and part of Murugappa Group, announced its plans to set up a sulfuric acid plant with daily production of 1,650 tons at its fertilizer complex in Visakhapatnam with an investment of INR 400 crore. According to the information of IBEF, India’s domestic pharmaceutical market was estimated to be worth USD 42 billion in 2021 and is expected to reach USD 120-130 billion by 2030.

Industry News

  • In October 2016, The Mosaic Company (U.S) launched Aspire, a new kind of K. Aspire with Boron, which is a micronutrient-enhanced potash granular fertilizer has proven to increase yields. Aspire with Boron includes potassium and Boron in each granule, which allows uniform distribution of both nutrients across every acre. It has helped the company expand its premium line of fertilizer products.
  • In December 2016, The Mosaic Company (U.S) acquired the Vale Fertilizantes business of Vale S.A. (Brazil). With this acquisition, Mosaic expects to become the leading fertilizer production and distribution company in Brazil, one of the world’s preeminent agricultural markets. This acquisition would give the company a tremendous opportunity to capitalize on the fast-growing Brazilian agricultural market.

Browse full Report: https://www.marketresearchfuture.com/reports/sulfuric-acid-market-2037

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.

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