Sulfuric Acid Price Trend

Sulfuric Acid Prices March 2024

The price of sulfuric acid in USA during the first quarter of 2024 reached 64 USD/MT. The declining sulfur prices play a vital role in stabilizing the sulfuric acid prices in the US market. The narrow difference between sulfur and sulfuric acid depicts a bearish trend in the US sulfuric acid market.

Whereas, the price of sulfuric acid across the Japanese region in Q1 of 2024 reached 35 USD/MT. The prices displayed a bearish trend throughout the period, on account of the reduced demand from the downstream agrochemical enterprises and high inventory levels in storage facilities.

Sulfuric acid prices in Belgium on the other hand reached 59 USD/MT during the first quarter of 2024. The market witnessed a bearish trend with an ample supply of the product. Numerous factors drive the market, such as the reduced demand from the agrochemical industry on account of seasonal slowdown, minimizing prices in the feedstock sulfur market which leads to lesser operational costs and stable demand from industrial industry.

Sulfuric Acid Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Sulfuric Acid Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of sulfuric acid pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of sulfuric acid at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of sulfuric acid price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing sulfuric acid price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Sulfuric Acid Market Analysis

The global sulfuric acid market size reached US$ 14.61 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 21.52 Billion, at a projected CAGR of 4.40% during 2023-2032.

• The increasing product adoption in the fertilizer production is propelling the market growth. As per a report by the IMARC GROUP, the global fertilizer market is reached US$ 176.4 Billion in 2023, and is expected to reach US$ 236.9 Billion by 2032, and is exhibiting a CAGR of 3.2% during 2024-2032. This acid is a vital component in the production of phosphoric acid, which is further used to produce phosphate fertilizers, including monoammonium phosphate (MAP) and diammonium phosphate (DAP). One of the major factors driving the demand for agricultural industry is the rapidly growing population across the globe. According to the UNITED NATIONS (UN), the global population reached 8.0 billion in mid-November 2022, and is expected to reach 9.7 billion by 2050 and could possibly reach 10.4 billion during mid-2080s. Fertilizers are extremely necessary for achieving higher agricultural productivity. Other than this, with the modern agricultural practices adopted by developing nations, the utilization of chemical fertilizers is increasing thereby creating a positive market outlook for sulfuric acid.
• Another area where sulfuric acid is widely used includes wastewater treatment. The rising emphasis on environmental sustainability and strict regulations associated with industrial waste management is propelling the market growth. It is used for the treatment of industrial effluents and municipal wastewater so as to adjust pH levels, eliminate dirt, and precipitate heavy metals. On account of rapid industrialization and urbanization, the amount of wastewater generated is constantly increasing which is further necessitating efficient treatment solutions in order to avoid environmental pollution and follow regulatory standards. Besides this, sulfuric acid plays a vital role in neutralizing alkaline wastewater and assisting in coagulation procedure, thus making it irreplaceable in modern wastewater treatment facilities. The U.S. ENVIRONMENTAL PROTECTION AGENCY (EPA) has necessitated strict discharge limits for industrial effluents, which has further forced industries to utilize advanced treatment procedures incorporating sulfuric acid.

Sulfuric Acid News

The report covers the latest developments, updates, and trends impacting the global sulfuric acid market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in sulfuric acid production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the sulfuric acid price trend.

Latest developments in the sulfuric acid industry:

• In May 2024: Possible rail disruptions in Canada from proposed strike action later in May could heavily impact plant operations and production in sulfuric acid and sulfur markets, participants said in the days leading up to May 9.
• In October 2023: Swedish mining and smelting company Boliden has taken a significant step toward a greener future with the launch of low-carbon sulfuric acid. The new product increases Boliden's collection of low-carbon offerings, joining the likes of low-carbon zinc, recycled zinc, low-carbon copper, and recycled copper within the Green Transition Metals portfolio.

Product Description

Sulfuric acid (H₂SO₄) is a highly corrosive, dense, oily liquid that is colorless to slightly yellow in appearance. Known as one of the most important industrial chemicals, sulfuric acid is composed of sulfur, oxygen, and hydrogen. Its molecular structure consists of two hydrogen atoms, one sulfur atom, and four oxygen atoms, forming a tetrahedral arrangement. Sulfuric acid is produced through the Contact Process, which involves the catalytic oxidation of sulfur dioxide (SO₂) to sulfur trioxide (SO₃), followed by the absorption of SO₃ in water. This process yields a concentrated form of sulfuric acid, typically around 98% purity.

The versatility of sulfuric acid makes it indispensable across numerous industries. It is predominantly used in the manufacture of fertilizers, particularly phosphate fertilizers, where it acts as a key reagent in converting phosphate rock into phosphoric acid. Additionally, sulfuric acid is crucial in the chemical manufacturing sector for producing hydrochloric acid, nitric acid, sulfate salts, and various synthetic detergents, dyes, and pharmaceuticals. In metal processing, sulfuric acid is employed for leaching metals from ores and cleaning metal surfaces through pickling.

Regional Coverage

The report provides a detailed analysis of the sulfuric acid market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the sulfuric acid price trend. 

Global Sulfuric Acid Price

The report offers a holistic view of the global sulfuric acid pricing trends in the form of sulfuric acid price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of sulfuric acid but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed sulfuric acid demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Sulfuric Acid Price

In the first quarter of 2024, the European sulfuric acid market saw a decline, primarily due to an abundant supply. This trend was driven by several factors, a seasonal slowdown led to reduced demand from the agrochemical sector, lower prices in the feedstock sulfur market decreased operational costs, and steady demand persisted from industrial sectors. Despite these conditions, there were no plant shutdowns during this period.

This analysis can be extended to include detailed sulfuric acid price information for a comprehensive list of countries.

North America Sulfuric Acid Price

In the first quarter of 2024, the North American sulfuric acid market faced a downturn with falling demand and high inventory levels. The decline was mainly due to decreased demand from agrochemical companies and abundant stock in storage facilities. To combat these challenging market conditions, industry players reduced their prices and extended special offers to entice buyers. However, buyers remained cautious, reducing their purchases and opting for on-demand procurement due to concerns about potential losses in the slow market.

Specific sulfuric acid historical data within the United States and Canada can also be provided.

Middle East and Africa Sulfuric Acid Price

During the first quarter of 2024, the sulfuric acid market in the MEA region faced several factors that influenced prices and market dynamics. Initially, an oversupply led to a bearish trend, prompting suppliers to offer discounts to clear excess stock, which resulted in lower prices. Additionally, sluggish demand from the agrochemical sector slowed the consumption of sulfuric acid, further widening the gap between supply and demand. Conversely, feedstock sulfur prices declined during this period, reducing operational costs for sulfuric acid producers and easing some market pressures.

In addition to region-wise data, information on sulfuric acid prices for countries can also be provided.

Asia Pacific Sulfuric Acid Price

In the first quarter of 2024, the sulfuric acid market in the APAC region experienced a downturn. This bearish trend was driven by weak demand from agrochemical companies and high inventory levels in storage facilities. To avoid oversupply, manufacturing units decided to reduce their production rates. High inventory levels also prompted market players to lower prices to stimulate buyer purchasing activities.

This sulfuric acid price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Sulfuric Acid Price

The analysis of sulfuric acid prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of sulfuric acid pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting sulfuric acid price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The sulfuric acid price charts ensure our clients remain at the forefront of the industry.