Sulphuric Acid Market

Sulphuric Acid Market Analysis and Review by Purity Type – Standard and Ultra-Pure for 2021 - 2031

Sulphuric Acid Market Snapshot

[308 Pages] Newly released data from by Future Market Insights (FMI) projects sulphuric acid market to register year-on-year (YoY) growth of 3.1% in 2021 to total US$ 13.7 Bn. Sulphuric acid is most widely used in the production of phosphate-based fertilizers including superphosphates, ammonium phosphate, and ammonium sulfates, pesticides and insecticides, and others.

FMI has identified fertilizer manufacturers are primary consumers of sulphuric acid. The fertilizer industry is expected to consume about 60% of sulphuric acid produced globally.

Base Year Value (2020A)

US$ 13.3 Bn

Estimated Year Value (2021E)

US$ 13.7 Bn

Projected Year Value (2031F)

US$  18.7 Bn

Value CAGR (2021-2031)

3.20%

Collective Value Share: Top 3 Countries (2021E)

48.90%

2016-2020 Sulphuric Acid Market Outlook Compared to 2021-2031 Forecast

Demand for sulphuric acid has been consistently growing owing to the across various industries. Shrinking agricultural land area across the globe is expected to elevate the demand for fertilizers and agrochemicals. Fertilizer is a key consumer of sulphuric acid. Growth in demand for fertilizers is expected to elevate the demand for sulphuric acid over the forecast period.

The consumption of gasoline and other petroleum products is increasing due to the expansion of the automotive industry across the globe. Stringent government regulations imposed to increase the quality fuel used to power automobiles will increase the application of sulphuric acid in the petroleum refining industry.

Sulphuric acid acts as a catalyst that is used during the alkylation process in refining operations. A considerable amount of sulphuric acid is required to feed in the alkylation unit. The growing need for petroleum refining operations is anticipated to push the consumption of sulphuric acid over the forecast period.

In addition to this, application within the metal industry grow during the assessment period. The use of metals is increasing in automotive, construction, and various other industries. To cater to the growing demand for metals, the metal extraction industry is increasing its production capacity. Consequently this will create higher scope for application of sulphuric acid in the metal extraction industry.

Moreover, the chemical industry is growing significantly across the globe especially in economies such as China, India, Brazil, Mexico, and others. Growth in the chemicals industry will bode well for the market.

Increasing use of sulphuric acid in the production of a wide range of chemicals including hydrofluoric acid, hydrochloric acid, nitric acid, phosphoric acid, sulphate salts, and various other chemicals will drive sales in the coming years.

Spurred by aforementioned factors, the sales of sulphuric acid are likely to grow at a CAGR of 3.2% over the assessment period of 2021-2031.

How are Ongoing Regulations Impacting Sulphuric Acid Sales?

As per the FMI survey, sales of sulphuric acid increased by 1.1% during the 2016-2020. Emerging economies such as India, China, Brazil, some GCC Countries, and others are consistently spending on infrastructure development activities owing to which demand for the metal products is growing.

Despite registering steady growth, stringent regulations implemented by various governments against the manufacturing and use of hazardous synthetic chemicals are likely to impact the growth of the sulphuric acid market to a certain extent.

What Is the Impact of the COVID-19 Crisis on the Sulphuric Acid Market?

Sales of sulphuric acid has been impacted directly by novel coronavirus outbreak in 2020. The global market was impacted moderately owing to the muted demand from several end-use industries including the metal production and processing industry, petroleum refining industry, and others.

The demand was hampered owing to the disruptions in supply chain networks and restrictions on production, construction, and other related activities that occurred worldwide due to movement & travel restrictions and nationwide lockdowns.

However, consumption of sulphuric acid is expected to recover 2021 onwards as supply chain networks recover and industries resume operations.

Country-wise Insights

Why is the Demand For Sulphuric Acid High In The U.S.?

In 2021, the U.S. sulphuric acid market is expected to register 2.9% year on year growth, bucking initial skepticism about how the market would perform during a global pandemic. Across North America, the total demand for sulphuric acid is expected to surpass 46,348.3 Kilo Tons.

North America is the second-leading market for sulphuric acid after East Asia. The U.S. is one of the leading countries in terms of production and manufacturing activities. The rising application of metals manufacturing operations and expansion of infrastructure will create opportunities for growth of the sulphuric acid market.

What is the Expected Growth Rate of the Sulphuric Acid Market in India?

Sales of sulphuric acid are growing at a rapid pace in India. The market is expected to gain traction at 3.7% CAGR between 2021 and 2031. India is an emerging country and prioritizes infrastructure development activities on a huge scale. Infrastructure development activities create a huge demand for metals which is positively impacting metal and related industries in the country.

Moreover, the country has a vast population and agricultural land is shrinking rapidly. Owing to which the demand for fertilizers is high to increase the per hectare yield of land. This will fuel the demand for sulphuric acid in India.

What is the Growth Outlook in China?

China is anticipated to be the leading country in terms of the consumption of sulphuric acid in East Asia. The consumption of sulphuric acid will grow by 3.5% CAGR during the upcoming assessment period of 2021-2031.

The demand for food and agricultural products is remarkably high in China on account of its huge population. To address this, the fertilizers production is considerably high in China’s agrochemical industry. Rising fertilizer production will create scope for sales of sulphuric acid.

In addition to this, the country is also considered as a leading manufacturing hub. With such a high production rate, the demand for metals is considerably high. The country also has significant metal reserves and hence caters to the growing demand for metals processing activities. Growth in the metal extraction industry is expected to push the consumption of sulphuric acid in the country.

Category-wise Insights

What is the Growth Outlook of Ultra-pure Sulphuric acid?

Ultra-pure sulphuric acid is extensively used by the electrical and electronic industry in the production of printed circuit boards (PCBs), photovoltaic cells, and others. The electrical & electronic industry is growing at a fast pace, which is expected to fuel the demand for sulphuric acid over the forecast period.

Ultra-pure sulphuric acid also finds its application in the pharmaceutical industry in the production of some pharmaceutical products. The pharmaceutical industry is growing at a very rapid pace which is also expected to profit from the consumption level of sulphuric acid during the forecast period.

What Is The Sulphuric Acid Market Outlook By Application?

Fertilizer production is expected to account for maximum sales of sulphuric acid. As per FMI, the fertilizers segment will remain the dominant segment in terms application, accounting for over half of sales in the market. Application of sulphuric acid is expected to rise in the production of phosphate based fertilizers. This will seal the segment’s dominance in the market.

Competitive Landscape

Over the past few years, an increase in the number of expansion activities has been witnessed to improve the supply of sulphuric acid. Several leading market participants are involved in mergers, acquisitions, and joint ventures to enhance their product portfolio and strengthen presence in the market.

For Instance,

  • In July 2021, BASF, Zhejiang Jiahua Energy Chemical Industry Co. Ltd., and its fully-owned subsidiary Zhejiang Jiafu New Material Technology Co. Ltd. signed an agreement to further expand the production capacity of electronic-grade Sulphuric Acid in Jiaxing, China.
  • In August 2021, Sumitomo Chemical decided to expand its production capacity for high-purity chemicals for semiconductors. The company will install new production lines to double the capacity for high-purity Sulphuric Acid at its Ehime Works (Niihama City, Ehime, Japan). For instance,

The latest study conducted by Future Market Insights covers all the strategies and success factors of key manufacturers of the market.

Some of the leading companies operating in the market are:

  • BASF SE
  • Ineos Group Ltd
  • KANTO Corporation
  • Aurubis AG
  • Avantor Performance Materials, LLC
  • PVS Chemicals Inc.
  • Seastar Chemicals
  • KMG Chemicals
  • Qingdao Hisea Chem Co.Ltd
  • Linde Group
  • Nouryon
  • Cornerstone Chemical Company
  • Ma’aden - Saudi Arabian Mining Company
  • Canada Colors and Chemicals Limited
  • Hubei Xingfa Chemicals Group Co., Ltd
  • Asia Union Electronic Chemical Corporation (AUECC)
  • Tata Chemicals
  • Trident Group
  • Boliden Group
  • UBE INDUSTRIES, LTD.
  • Kel-Chemicals Ltd.
  • Young Poong Co., Ltd.
  • Jiangsu Mingsheng Chemical Co., Ltd.
  • Shijiazhuang Xinlongwei Chemical Co., Ltd.
  • Wylton (China) Chemical Co., Ltd.
  • Sumitomo Chemical Co., Ltd.
  • Tayca Corporation

*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis is available in the report.

Scope of Report

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

USD Million for Value and Kilo Tons for Volume

Key Regions Covered

North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa

Key Countries Covered

US, Canada, Germany, U.K., France, Italy, Spain, Russia, Poland, BENELUX, China, Japan, South Korea, India, ASEAN, ANZ, GCC Countries, Turkey, and South Africa,

Key Segments Covered

Purity Type, Application, and Region

Key Companies Profiled

  • BASF SE
  • Ineos Group Ltd
  • KANTO Corporation
  • Aurubis AG
  • Avantor Performance Materials, LLC
  • PVS Chemicals Inc.
  • Seastar Chemicals
  • KMG Chemicals
  • Qingdao Hisea Chem Co.Ltd
  • Linde Group
  • Nouryon
  • Cornerstone Chemical Company
  • Ma’aden - Saudi Arabian Mining Company
  • Canada Colors and Chemicals Limited
  • Hubei Xingfa Chemicals Group Co., Ltd
  • Asia Union Electronic Chemical Corporation (AUECC)
  • Tata Chemicals
  • Trident Group
  • Boliden Group
  • UBE INDUSTRIES, LTD.
  • Kel-Chemicals Ltd.
  • Young Poong Co., Ltd.
  • Jiangsu Mingsheng Chemical Co., Ltd.
  • Shijiazhuang Xinlongwei Chemical Co., Ltd.
  • Wylton (China) Chemical Co., Ltd.
  • Sumitomo Chemical Co., Ltd.
  • Tayca Corporation

Report Coverage

Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Key Questions Answered in Sulphuric Acid Market Study

  • What is the sulphuric acid market size?

    The sulphuric acid market is expected to total US$ 13.7 Bn in 2021.

  • What is the demand outlook for sulphuric acid market?

    The sulphuric acid market has been projected to exhibit 3.2% CAGR between 2021 and 2031.

  • At what rate did the demand for sulphuric acid rise in 2021?

    The demand for sulphuric acid increased by 3.1% in 2021.

  • Who are the top players in the sulphuric acid market and what is their total share?

    Ineos Group Ltd., BASF SE, Sumitomo Chemical Co., Ltd., Linde Group, and Ma’aden - Saudi Arabian Mining Company are the leading market players. They collectively will account for 35% to 45% of the total market share.

  • What is the North America sulphuric acid market outlook?

    The demand in North America is expected to increase by 2.6% CAGR between 2021 and 2031.

  • At what rate will the demand for sulphuric acid rise in Europe?

    The sulphuric acid market will exhibit growth at 2.4% CAGR between 2021 and 2031.

  • Who are the key exporters of sulphuric acid?

    China, U.S., India, Germany, and ASEAN countries are key exporters of sulphuric acid.

  • Who are the key producers of sulphuric acid?

    Ineos Group Ltd., BASF SE, Sumitomo Chemical Co., Ltd., and Ma’aden - Saudi Arabian Mining Company  are the key producers of sulphuric acid.

  • What are the key strategies shaping the sulphuric acid market?

    Increasing focus on strategic expansion and capacity expansion undertaken by leading players will shape the market in the coming years.

  • What is sulphuric acid market outlook for Japan and South Korea?

    South Korea and Japan are expected to account for 6% of total sales of sulphuric acid globally in 2021.

Sulphuric Acid Market by Category

By Purity Type:

  • Standard
  • Ultra-pure

By Application:

  • Fertilizers
  • Petroleum Refining
  • Metal Production & Processing
    • Steel Pickling
    • Copper Production
    • Metal Surface Cleaning
    • Others
  • Wastewater Treatment
  • Semiconductor & Electronics
    • Battery Electrolyte
    • Integrated Circuit Components
    • Photovoltaic Cell
  • Chemical Production
  • Textile Processing
  • Pulp & Paper Production
  • Pharmaceuticals
  • Domestic Cleaning Products
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia Pacific
  • Middle East and Africa

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