Global Sulfuric Acid Market 2022 - Industry Briefing

Global Sulfuric Acid Market 2022 - Industry Briefing

Sulfuric acid or sulphuric acid, known in antiquity as oil of vitriol, is a mineral acid composed of the elements sulfur, oxygen and hydrogen, with the molecular formula H₂SO₄. In various concentrations the acid is used in the manufacture of fertilizers, pigments, dyes, drugs, explosives, detergents, and inorganic salts and acids, as well as in petroleum refining and metallurgical processes. According to Gen Consulting Company, the global sulfuric acid market is set to achieve an incremental growth of USD 3 billion, acelerating at a CAGR of almost 3.4% during the forecast period 2022-2028.

This industry report offers market estimates of the global market, followed by a detailed analysis of the raw material, application, and region. The global market data on sulfuric acid can be segmented by raw material: base metal smelters, elemental sulfur, pyrite ore, others. Globally, the elemental sulfur segment made up the largest share of the sulfuric acid market. Sulfuric acid market is further segmented by application: batteries, chemicals, fertilizers, metal processing, petroleum refining, textile, paper and pulp, others. The fertilizers segment captured the largest share of the market in 2021. Based on region, the sulfuric acid market is segmented into: Asia Pacific, CIS (Commonwealth of Independent States), Europe, Latin America, MEA (Middle East and Africa), North America. According to the research, Asia Pacific had the largest share in the global sulfuric acid market.

The global sulfuric acid market is highly competitive. Some of the leading companies operating in the market are Aurubis AG, BASF SE, Glencore plc (NorFalco Inc.), Groupe Chimique Tunisien SA, Indian Farmers Fertiliser Cooperative Ltd. (IFFCO), INEOS Group AG, MA'ADEN (Saudi Arabian Mining Co.), OCP Group, PhosAgro AG, Potash Corporation of Saskatchewan Inc., PQ Corporation, Pressure Vessel Service Inc., The Mosaic Company, Veolia Environnement S.A. (Former Chemours).

The data-centric report focuses on market trends, status and outlook for segments. With comprehensive market assessment across the major geographies, the report is a valuable asset for the existing players, new entrants and the future investors.

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