Global Sulfuric Acid Market Bwc19161

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Global Sulfuric Acid Market, By Raw Materials (Elemental Sulfur, Base Metal Smelters, Pyrite Ore, Others), By Application (Fertilizers, Chemical Manufacturing, Metal Processing, Petroleum Refining, Textile Industry, Automotive, Pulp & Paper, Others), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA) Trend Analysis, Competitive Market Share & Forecast, 2017-2027

Published Date: September 2021
Report ID: BWC19161
Available Format: PDF
Page: 189

Report Overview

Global sulfuric acid market is growing at a high rate because of the driving factors such as expanding usage of fertilizers for increasing agricultural yield and other commercial use such as paper and pulp production, automotive industries in the batteries, metal processing, etc.

Global Sulfuric Acid Market- Industry Trends & Forecast Report 2027

Global sulfuric acid market was worth USD 13.2 billion in 2020 and is projected to reach USD 16.1 billion by 2027, growing at a CAGR of 3.0% in the forecast period. Sulfuric acid demand is increasing due to increased fertilizer use for enhanced agricultural yield and other commercial applications such as paper and pulp manufacture, automotive industries in batteries and metal processing, and so on. Furthermore, continuous and stable demand for sulfuric acid due to several end-user applications and rising demand from the oil & gas industry, wastewater treatment is the factors favoring the growth of the global sulfuric acid market.

Global Sulfuric Acid Market

Source: BlueWeave Consulting

Global Sulfuric Acid Market - Overview

Sulfuric acid, also known as sulfuric acid, is a mineral composed of sulfur, oxygen, and hydrogen elements. Its physical properties are colorless and odorless and are highly miscible with water. Among other things, sulfuric acid is used for manufacturing fertilizers, explosives, glue, purifying petroleum, producing lead-acid batteries, and much more. One of the most common applications of sulfuric acid is its use as an electrolyte in lead-acid storage batteries. However, it is a highly corrosive chemical that can cause severe damage to human skin.

Global Sulfuric Acid Market Forecast and Trends

Growth Drivers

Increasing Use of Sulfuric Acid in Agricultural Sector

Fertilizers have always been an integral part of agriculture as they provide the soil with nutrients like potassium, phosphate, and nitrogen. Growing concerns from the agricultural sector regarding high crop yield and improved food quality are expected to drive fertilizer market growth, propelling the sulfuric acid market forward. Sulfuric acid is used in the production of phosphate fertilizers such as lime superphosphate and ammonium sulfate. The demand for food has increased dramatically as the world's population has grown, necessitating fertilizers to increase agricultural productivity. During the projected period, this aspect is likely to boost the growth of the global sulfuric acid market.

Growing Application of Sulfuric Acid in Medicine and the Pharmaceutical Industry

Since sulfuric acid is a highly corrosive acid, it is widely used for damaging cancerous cells’ DNA. The pharmaceutical industry uses them extensively to make chemotherapy drugs. Considering the growing prevalence of cancer worldwide, the demand for chemotherapy for treatment purposes will rise at a rapid pace. In addition to treating skin infections, sulfuric acid is found in ointments for treating canker sores. These factors are likely to significantly propel the demand for sulfuric acid in the forecast period.

Restraints

Sulfuric Acid Poses Serious Health and Environmental Hazards

Sulfuric acid is a highly corrosive acid that is hazardous for both humans and the environment. Even the slightest contact with sulfuric acid can cause severe burns. Moreover, any type of contact on the cornea or eyes can induce permanent blindness. Therefore, workers exposed during the production of this acid are constantly in danger. Moreover, sulfuric acid can exist in the air as particles or droplets and contribute to acidity, harming sensitive ecosystems. Hazards of this type restrict market growth significantly.

Impact of COVID-19 on Global Sulfuric Acid Market

The COVID-19 outbreak and the pandemic have had a tremendous impact on the global sulfuric acid market. As a result of the lockdowns imposed by various countries to control the spread of the virus, several end-user industries were completely shut down, including automobile production, chemical manufacturers, petroleum refiners, and so on. This resulted in a significant decline in demand for sulfuric acid, causing severe losses to the market. Moreover, the production of sulfuric acid also suffered during COVID-19. As a result, agricultural demand for sulfuric acid was not met, further inhibiting the global market's growth.

Global Sulfuric Acid Market - By Raw Materials

Based on raw materials, the global sulfuric acid market is segmented into elemental sulfur, base metal smelters, pyrite ore, and others. The elemental sulfur holds the largest market share as this type of raw material is comparatively less polluting than other types such as pyrite ore or base metal smelters. Furthermore, the growing demand for industrial chemicals for manufacturing various commercial products and expanding production capacities for sulfur also propels the demand for elemental sulfur.

Global Sulfuric Acid Market - By Applications

Based on applications, the global sulfuric acid market is segmented into fertilizers, chemical manufacturing, metal processing, petroleum refining, textile industry, automotive, pulp & paper, and others. Among these segments, the fertilizer segment accounts for the largest market share because of their expanding applications in agriculture for enhancing crop yields. Furthermore, the availability of fertile land has also decreased because of rapid industrialization and development. Therefore, the demand for fertilizers is growing rapidly to meet the consumption needs of the growing population.

Global Sulfuric Acid Market - Regional Insights

Geographically, the global sulfuric acid market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. The Asia-Pacific region dominates the sulfuric acid market and is also projected to witness the highest CAGR during the forecast period. China is leading the market as the largest producer as well as a consumer for sulfuric acid with flourishing industrial applications. In addition, the easy availability of raw materials and rising development strategies such as setting up production facilities to meet the growing demand for sulfuric acid are also driving the market in this region.

Regional Insights

Source: BlueWeave Consulting

Competitive Landscape

The leading players in the global sulfuric acid market are Mosaic Company, Chemtrade Refinery, DuPont, AkzoNobel N.V., Panoli Intermediates India Private Limited, PVS Chemical Solution, Solvay, Valero Energy, Potash Corp, Agrium Inc., Indian Farmers Fertiliser Cooperative Limited, Israel Chemicals Ltd., Rashtriya Chemicals and Fertilizers Ltd., Zuari Agro Chemicals Ltd., Panoli Intermediates India Private Limited, PhosAgro Group of Companies, Xilan Chemicals Co Ltd, The Mosaic Company, Kanto Kagaku, and other prominent players.

The market is highly consolidated with the presence of several global and regional market players. The regional players have better penetration among the end-users as they offer a wide range of products for different industries. Therefore, the prominent market players have been prominently adopting competitive strategies such as partnerships, mergers, acquisitions, collaborations, etc., to stay ahead in the market.

Recent Developments

In September 2021, Japanese chemical company Sumitomo Chemical and the Belgian chemical company Solvay announced they would expand their production capacity to produce high-purity sulfuric acid and aqueous ammonia for chip cleaning applications.
In August 2021, INEOS, a British chemicals company, announced the completion of the sale of its sulfur chemicals business to the International Chemical Investors Group.

Scope of the Report

Attributes	Details
Years Considered	Historical data – 2017-2020 Base Year – 2020 Forecast – 2021 – 2027
Facts Covered	Revenue in USD Billion
Market Coverage	U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia
Product Service/Segmentation	By Raw Materials, By Application, By Region
Key Players	Mosaic Company, Chemtrade Refinery, DuPont, AkzoNobel N.V., Panoli Intermediates India Private Limited, PVS Chemical Solution, Solvay, Valero Energy, Potash Corp, Agrium Inc., Indian Farmers Fertiliser Cooperative Limited, Israel Chemicals Ltd., Rashtriya Chemicals and Fertilizers Ltd., Zuari Agro Chemicals Ltd., Panoli Intermediates India Private Limited, PhosAgro Group of Companies, Xilan Chemicals Co Ltd, The Mosaic Company, Kanto Kagaku, and other prominent players.

By Raw Materials

Elemental Sulfur
Base Metal Smelters
Pyrite Ore
Others

By Application

Fertilizers
Chemical Manufacturing
Metal Processing
Petroleum Refining
Textile Industry
Automotive
Pulp & Paper
Others

By Region

North America
Europe
Asia-Pacific
Latin America
Middle East & Africa

Research Framework
1. Research Objective
2. Product Overview
3. Key Market Segments
Research Methodology
1. Qualitative Research
2. Methodology
3. Regional Split of Primary & Secondary Research
4. Secondary Research
5. Primary Research
  1. Breakdown of Primary Research Respondents, By Region
  2. Breakdown of Primary Research Respondents, By Industry Participants
6. Market Size Estimation
7. Assumptions for the Study
8. Market Breakdown & Data Triangulation
Executive Summary
Industry Insight and Growth Strategy
1. Value Chain Analysis
2. DROC Analysis
  1. Market Drivers
    1. Increasing Use Of Sulfuric Acid In Agricultural Sector
    2. Expanding Sulfuric Acid Application In Medicine And Pharmaceutical Industry
  2. Market Restraints
    1. Severe Hazards of Sulfuric Acid On Human And Environment
  3. Market Challenges
    1. Negative Influence of the COVID-19
  4. Market Opportunity
    1. Growing Demand for Sulfuric Acid In Industrial Production
    2. Flourishing Automobile Industry
3. Recent Developments
4. Porter’s Five Forces Analysis
  1. Bargaining Power of Buyers
  2. Bargaining Power of Suppliers
  3. Intensity of Rivalry
  4. Threat of New Entrants
  5. Threat of Substitutes
Global Sulfuric Acid Market Overview
1. Market Size & Forecast by Value, 2017-2027
2. Market Size & Forecast by Volume (Metric Tons)
3. Market Size and Forecast, By Segment
  1. By Raw Materials
    1. Elemental Sulfur
    2. Base Metal Smelters
    3. Pyrite Ore
    4. Others
  2. By Application
    1. Fertilizers
    2. Chemical Manufacturing
    3. Metal Processing
    4. Petroleum Refining
    5. Textile Industry
    6. Automotive
    7. Pulp & Paper
    8. Others
  3. By Region
    1. North America
    2. Europe
    3. Asia-Pacific
    4. Latin America
    5. Middle East &Africa
North America Sulfuric Acid Market Overview
1. Market Size and Forecast
  1. By Value (USDBillion), 2020-2027
  2. By Volume (Metric Tons), 2020-2027
2. Market Share and Forecast
  1. By Raw Materials
  2. By Application
  3. By Country
    1. U.S.
    2. Canada
Europe Sulfuric Acid Market Overview
1. Market Size and Forecast
  1. By Value (USDBillion), 2020-2027
  2. By Volume (Metric Tons), 2020-2027
2. Market Share and Forecast
  1. By Raw Materials
  2. By Application
  3. By Country
    1. Germany
    2. U.K.
    3. Russia
    4. France
    5. Italy
    6. Spain
    7. Rest of Europe
APAC Sulfuric Acid Market Overview
1. Market Size and Forecast
  1. By Value (USDBillion), 2020-2027
  2. By Volume (Metric Tons), 2020-2027
2. Market Share and Forecast
  1. By Raw Materials
  2. By Application
  3. By Country
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
LATAM Sulfuric Acid Market Overview
1. Market Size and Forecast
  1. By Value (USDBillion), 2020-2027
  2. By Volume (Metric Tons), 2020-2027
2. Market Share and Forecast
  1. By Raw Materials
  2. By Application
  3. By Country
    1. Mexico
    2. Brazil
    3. Rest of LATAM
MEA Sulfuric Acid Market Overview
1. Market Size and Forecast
  1. By Value (USDBillion), 2020-2027
  2. By Volume (Metric Tons), 2020-2027
2. Market Share and Forecast
3. By Raw Materials
4. By Application
5. By Country
  1. Saudi Arabia
  2. UAE
  3. South Africa
  4. Rest of MEA
Competitive Landscape
1. List of Key Players and Their Offerings
2. Market Share Analysis (2020)
3. Competitive Benchmarking By Operating Parameters
Impact of COVID-19 on Global Sulfuric Acid Market
Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
1. Mosaic Company
2. Chemtrade Refinery
3. DuPont
4. Akzonobel N.V.
5. Panoli Intermediates India Private Limited
6. PVS Chemical Solution
7. Solvay
8. Valero Energy
9. Potash Corp
10. Agrium Inc.
11. Indian Farmers Fertiliser Cooperative Limited
12. Israel Chemicals Ltd.
13. Rashtriya Chemicals and Fertilizers Ltd.
14. ZuariAgro Chemicals Ltd.
15. Panoli Intermediates India Private Limited
16. PhosAgro Group of Companies
17. Xilan Chemicals Co Ltd
18. The Mosaic Company
19. KANTO KAGAKU
20. Other Prominent Players
Key Strategic Recommendations

List of Figures

Figure 1: Global Sulfuric Acid Market Segmentation

Figure 2: Global Sulfuric Acid Market Value Chain Analysis,

Figure 3: Company Market Share Analysis, 2020

Figure 4: Global Sulfuric Acid Market Size, By Value (USD Billion), 2017-2027

Figure 5: Global Sulfuric Acid Market Size, By Volume (Metric Tons), 2017-2027

Figure 6: Global Sulfuric Acid Market Share (%), By Raw Materials, By Value, 2017-2027

Figure 7: Global Sulfuric Acid Market Share (%), By Application, By Value, 2017-2027

Figure 8: Global Sulfuric Acid Market Share (%), By Region, By Value, 2017-2027

Figure 9: North America Sulfuric Acid Market Size, By Value (USD Billion), 2017-2027

Figure 10: North America Sulfuric Acid Market Size, By Volume (Metric Tons), 2017-2027

Figure 11: North America Sulfuric Acid Market Share (%), By Raw Materials, By Value, 2017-2027

Figure 12: North America Sulfuric Acid Market Share (%), By Application, By Value, 2017-2027

Figure 13: North America Sulfuric Acid Market Share (%), By Country, By Value, 2017-2027

Figure 14: Europe Sulfuric Acid Market Size, By Value (USD Billion), 2017-2027

Figure 15: Europe Sulfuric Acid Market Size, By Volume (Metric Tons), 2017-2027

Figure 16: Europe Sulfuric Acid Market Share (%), By Raw Materials, By Value, 2017-2027

Figure 17: Europe Sulfuric Acid Market Share (%), By Application, By Value, 2017-2027

Figure 18: Europe Sulfuric Acid Market Share (%), By Country, By Value, 2017-2027

Figure 19: the Asia-Pacific Sulfuric Acid Market Size, By Value (USD Billion), 2017-2027

Figure 20: the Asia-Pacific Sulfuric Acid Market Size, By Volume (Metric Tons), 2017-2027

Figure 21: the Asia-Pacific Sulfuric Acid Market Share (%), By Raw Materials, By Value, 2017-2027

Figure 22: the Asia-Pacific Sulfuric Acid Market Share (%), By Application, By Value, 2017-2027

Figure 23: Asia-Pacific Sulfuric Acid Market Share (%), By Country, By Value, 2017-2027

Figure 24: Latin America Sulfuric Acid Market Size, By Value (USD Billion), 2017-2027

Figure 25: Latin America Sulfuric Acid Market Size, By Volume (Metric Tons), 2017-2027

Figure 26: Latin America Sulfuric Acid Market Share (%), By Raw Materials, By Value, 2017-2027

Figure 27: Latin America Sulfuric Acid Market Share (%), By Application, By Value, 2017-2027

Figure 28: Latin America Sulfuric Acid Market Share (%), By Country, By Value, 2017-2027

Figure 29: Middle East & Africa Sulfuric Acid Market Size, By Value (USD Billion), 2017-2027

Figure 30: Middle East & Africa Sulfuric Acid Market Size, Volume (Metric Tons), 2017-2027

Figure 31: Middle East & Africa Sulfuric Acid Market Share (%), By Raw Materials, By Value, 2017-2027

Figure 32: Middle East & Africa Sulfuric Acid Market Share (%), By Application, By Value, 2017-2027

Figure 33: Middle East & Africa Sulfuric Acid Market Share (%), By Region, By Value, 2017-2027

List of Tables

Table 1: Global Sulfuric Acid Market Size, By Raw Materials, By Value, 2017-2027

Table 2: Global Sulfuric Acid Market Size, By Application, By Value (USD Billion), 2017-2027

Table 3: Global Sulfuric Acid Market Size, By Region, By Value (USD Billion), 2017-2027

Table 4: North America Sulfuric Acid Market Size, By Raw Materials, By Value (USD Billion), 2017-2027

Table 5: North America Sulfuric Acid Market Size, By Application, By Value (USD Billion), 2017-2027

Table 6: North America Sulfuric Acid Market Size, By Country, By Value (USD Billion), 2017-2027

Table 7: Europe Sulfuric Acid Market Size, By Raw Materials, By Value (USD Billion), 2017-2027

Table 8: Europe Sulfuric Acid Market Size, By Application, By Value (USD Billion), 2017-2027

Table 9: Europe Sulfuric Acid Market Size, By Country, By Value (USD Billion), 2017-2027

Table 10: the Asia-Pacific Sulfuric Acid Market Size, By Raw Materials, By Value (USD Billion), 2017-2027

Table 11: the Asia-Pacific Sulfuric Acid Market Size, By Application, By Value (USD Billion), 2017-2027

Table 12: the Asia-Pacific Sulfuric Acid Market Size, By Country, By Value (USD Billion), 2017-2027

Table 13: Latin America Sulfuric Acid Market Size, By Raw Materials, By Value (USD Billion), 2017-2027

Table 14: Latin America Sulfuric Acid Market Size, By Application, By Value (USD Billion), 2017-2027

Table 15: Latin America Sulfuric Acid Market Size, By Country, By Value (USD Billion), 2017-2027

Table 16: The Middle-East & Africa Sulfuric Acid Market Size, By Raw Materials, By Value (USD Billion), 2017-2027

Table 17: The Middle-East & Africa Sulfuric Acid Market Size, By Application, By Value (USD Billion), 2017-2027

Table 18: The Middle-East & Africa Sulfuric Acid Market Size, By Country, By Value (USD Billion), 2017-2027

Table 19: Mosaic Company Financial Analysis

Table 20: Mosaic Company Business Overview

Table 21: Chemtrade Refinery Financial Analysis

Table 22: Chemtrade RefineryBusiness Overview

Table 23: DuPont Corporation Financial Analysis

Table 24: DuPont Corporation Business Overview

Table 25: Akzonobel N.V.Financial Analysis

Table 26: Akzonobel N.V.Business Overview

Table 27: Panoli Intermediates India Private LimitedFinancial Analysis

Table 28: Panoli Intermediates India Private LimitedBusiness Overview

Table 29: PVS Chemical Solution Financial Analysis

Table 30: PVS Chemical Solution Business Overview

Table 31: Solvay Financial Analysis

Table 32: Solvay Business Overview

Table 33: Valero Energy Financial Analysis

Table 34:Valero Energy Business Overview

Table 35: Potash CorpFinancial Analysis

Table 36: Potash CorpBusiness Overview

Table 37: Agrium Inc.Financial Analysis

Table 38: Agrium Inc. Business Overview

Table 39: Indian Farmers Fertiliser Cooperative LimitedFinancial Analysis

Table 40: Indian Farmers Fertiliser Cooperative Limited Financial Analysis

Table 41: Israel Chemicals Ltd.Financial Analysis

Table 42: Israel Chemicals Ltd. Financial Analysis

Table 43: Rashtriya Chemicals and Fertilizers Ltd.Financial Analysis

Table 44: Rashtriya Chemicals and Fertilizers Ltd. Financial Analysis

Table 45: ZuariAgro Chemicals Ltd.Financial Analysis

Table 46: ZuariAgro Chemicals Ltd. Financial Analysis

Table 47: Panoli Intermediates India Private LimitedFinancial Analysis

Table 48: Panoli Intermediates India Private Limited Financial Analysis

Table 49: PhosAgro Group of CompaniesFinancial Analysis

Table 50: PhosAgro Group of Companies Financial Analysis

Table 51: Xilan Chemicals Co LtdFinancial Analysis

Table 52: Xilan Chemicals Co Ltd Financial Analysis

Table 53: The Mosaic CompanyFinancial Analysis

Table 54: The Mosaic Company Financial Analysis

Table 55: KANTO KAGAKUFinancial Analysis

Table 56: KANTO KAGAKU Financial Analysis

Market Segmentation

By Raw Materials

Elemental Sulfur
Base Metal Smelters
Pyrite Ore
Others

By Application

Fertilizers
Chemical Manufacturing
Metal Processing
Petroleum Refining
Textile Industry
Automotive
Pulp & Paper
Others

By Region

North America
Europe
Asia-Pacific
Latin America
Middle East & Africa

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Frequently Asked Questions (FAQs):

1. What is the current size of the global sulfuric acid market?

Ans: Global sulfuric acid market reached USD 13.2 billion in 2020.

2. What are the major factors driving the growth of the global sulfuric acid market?

Ans: The major factors driving the growth of the global sulfuric acid market are the increasing use of sulfuric acid in the agricultural sector and growing demand for sulfuric acid in industrial production.

3. Who are the key players in the global sulfuric acid market?

Ans: The key players in the global sulfuric acid market are: Mosaic Company, Chemtrade Refinery, DuPont, AkzoNobel N.V., Panoli Intermediates India Private Limited, PVS Chemical Solution, Solvay, Valero Energy, Potash Corp, Agrium Inc., Indian Farmers Fertiliser Cooperative Limited, Israel Chemicals Ltd., Rashtriya Chemicals and Fertilizers Ltd., Zuari Agro Chemicals Ltd., Panoli Intermediates India Private Limited, PhosAgro Group of Companies, Xilan Chemicals Co Ltd, The Mosaic Company, Kanto Kagaku, and other prominent players.

4. Which application segment accounted for the largest share in the global sulfuric acid market?

Ans: The fertilizers segment accounted for the largest share in the global sulfuric acid market.

5. Which region is at the highest growth rate in the global sulfuric acid market?

Ans: The Asia-Pacific region has the largest share in the global sulfuric acid market.

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