Global Sulphuric Acid Market Report and Forecast 2023-2028

Global Sulphuric Acid Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), 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.

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 EMR 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 by Expert Market Research are as follows:

• INEOS Group
• BASF SE
• DuPont de Nemours, Inc.
• PVS Chemicals, Inc.
• Chung Hwa Chemical Industrial Works, Ltd.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.