Sulphuric Acid Market

Sulphuric Acid Market Size:

The global sulphuric acid market size reached US$ 15.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 17.9 Billion by 2032, exhibiting a growth rate (CAGR) of 1.5% during 2024-2032. The market is majorly driven by the increasing number of aging infrastructure in developed countries, growing investments in renewable energy resources, rising implementation of climate change initiatives, easy availability of raw materials and continual technological advancements in production processes.

Sulphuric Acid Market Analysis:

• Major Market Drivers: Some of the key market drivers include the growing demand for the product in the fertilizer industry, particularly for the production of phosphate fertilizers, such as superphosphates and ammonium phosphate. Furthermore, the chemical is also widely used in petroleum refining, wastewater treatment, and the production of chemicals, such as hydrochloric acid, nitric acid, and sulfate salts. Additionally, rapid industrialization and increasing agriculture activities across developing economies are contributing to the rising demand for the acid, thereby bolstering the sulphuric acid market growth.
• Key Market Trends: The shift toward sustainable and energy-efficient manufacturing processes is one of the key market trends. The rise in acid recycling from spent acid streams and the growing interest in green technologies are becoming increasingly prominent. Moreover, advancements in production methods to reduce environmental impacts and the development of new applications in metal processing and electronics are also shaping the market. Additionally, innovations in acid recovery systems and the circular economy approach are expected to further bolster the industry growth during the sulphuric acid market forecast period.
• Geographical Trends: Asia Pacific is leading the market due to rapid industrial growth, particularly in countries, such as China and India, where the demand for fertilizers and chemicals is robust. The region's expanding agricultural sector and infrastructure development further fuel sulfuric acid demand.
• Competitive Landscape: Some of the key market players include Aarti Industries Ltd., Aurubis AG, BASF SE, Boliden AB, Brenntag SE, Chemtrade Logistics, Lanxess AG, Merck KGaA, Nutrien Ltd., PhosAgro, Solvay S.A., The Mosaic Company, Valero Energy Corporation, etc. These companies are focusing on strategic partnerships, mergers and acquisitions, and capacity expansions to strengthen their market position, thereby creating a positive sulphuric acid industry outlook. They are also investing in advanced technologies and sustainable practices to meet regulatory requirements and address the growing environmental concerns.
• Challenges and Opportunities: Some of the market challenges include stringent environmental regulations regarding the emissions of sulfur oxides (SOx) during the production of acid. These regulations compel manufacturers to invest in pollution control technologies, which can increase operational costs. However, opportunities lie in the growing adoption of acid in renewable energy sectors, particularly in the production of batteries for electric vehicles (EVs) and energy storage systems. This opens new avenues for market expansion in the coming years.
   

Sulphuric Acid Market Trends:

Increasing industrial demand from fertilizers

 The sulphuric acid market is witnessing significant growth, primarily driven by the escalating demand within the fertilizer industry. Sulphuric acid is a critical component in the production of phosphate fertilizers, which are essential for modern agriculture. This demand is particularly strong in regions with substantial agricultural activities and is expected to remain robust as efforts to increase crop yields continue. As a critical raw material, sulphuric acid's role in synthesizing phosphate fertilizers highlights its pivotal position in agricultural productivity. Sulphuric acid market insights reveal significant growth driven by its extensive application in the manufacturing of fertilizers. Continuously growing global food demand, coupled with efforts to increase crop yields, has bolstered the use of fertilizers, thus amplifying the need for the acid. This demand is further magnified by the expanding agricultural sectors in emerging economies, where modern farming techniques are rapidly being adopted. Environmental regulations and advancements in production technologies that aim to reduce harmful emissions associated with sulphuric acid manufacturing also play a crucial role in shaping market dynamics. However, the augmented sulphuric acid demand from the agrochemical industry can be attributed to its diverse application as it is utilized not only as a nutrient in fertilizer production but also as a soil conditioner to adjust pH levels. This dual function ensures its ongoing relevance in modern agricultural practices.

Significant growth in mining activities

The development of iron ore mining is fueling the growth of the market, mainly due to the important role of the product in iron ore extraction and processing. The acid is used extensively in the hydrometallurgical extraction of metals like copper, nickel, and uranium. In addition, the expansion of the mining industry in emerging economies contributes to this demand, thereby creating a positive sulphuric acid market outlook. The increasing focus on sustainable mining infrastructure emphasizes the importance of sulphuric acid, as it plays a critical role in reducing environmental impacts and effectively contributes to the recovery of precious metals. This utilization aligns with global environmental standards, promoting more eco-friendly mining practices while ensuring efficient metal extraction processes.

Rising production of phosphoric acid

The rising production of phosphoric acid is another major factor providing an impetus to the market. Since phosphoric acid is utilized mainly for manufacturing fertilizers, it is prepared through the reaction between phosphate rock and sulfuric acid. Ongoing expansion in agriculture, driven by a consistently rising global population, has heightened the demand for phosphoric acid fertilizers, thereby positively influencing the sulphuric acid market revenue. With a considerable focus on proper and efficient agriculture practices that are sustainable in nature, there has been a higher production of phosphoric acid, which has led to the augmenting utilization of the product in this process. Apart from this, continuous technological advancement in the production of phosphoric acid has also escalated the demand for the acid. The adoption of an efficient production process with less cost is creating a positive outlook for the market, thereby shaping the sulphuric acid market dynamics.

Sulphuric Acid Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on raw material type, form, distribution channel, and end use industry.

Breakup by Raw Material Type:

• Elemental Sulfur
• Pyrite Ore
• Others
   

Elemental sulfur dominates the market

The report has provided a detailed breakup and analysis of the market based on the raw material type. This includes elemental sulfur, pyrite ore, and others. According to the report, elemental sulfur represented the largest segment.

Elemental sulfur representing the largest segment in the sulphuric acid market can be accredited to its abundant availability and cost-effectiveness as a raw material. As a widely accessible and economically viable source, elemental sulfur allows for more efficient production processes. This is supported by increasing product usage in fertilizers, chemicals, and petroleum refineries. The growing agricultural demand for sulfur-based fertilizers, such as ammonium sulfate and phosphates, also drives the demand for elemental sulfur. Additionally, the conversion process from sulfur to sulfuric acid is well-established and highly efficient, offering high yields that are attractive to producers. These factors make elemental sulfur the preferred choice for many manufacturers, contributing significantly to its dominance in the market.

Breakup by Form:

• Concentrated (98%)
• Tower/Glover Acid (77.67%)
• Chamber/Fertilizer Acid (62.8%)
• Battery Acid (33.5%)
• 66 Degree Baume Sulfuric Acid (93%)
• Dilute Sulfuric Acid (10%)
   

Chamber/fertilizer acid (62.8%) holds the largest share in the market

A detailed breakup and analysis of the market based on the form have also been provided in the report. This includes concentrated (98%), tower/glover acid (77.67%), chamber/fertilizer acid (62.8%), battery acid (33.5%). 66 degree baume sulfuric acid (93%), and dilute sulfuric acid. According to the report, chamber/fertilizer acid (62.8%) accounted for the largest market share.

Chamber acid, also referred to as fertilizer acid at a composition of 62.8 percent sulfuric acid, is one of the major drivers of the market, especially in agriculture. Chamber acid finds major application in the manufacturing of phosphate fertilizers, namely superphosphates and ammonium phosphate, which are crucial for increasing crop yields. Growing food demand and widespread adoption of agriculture in developing economies have fueled the increasing utilization of fertilizer, thus contributing to the demand for chamber acid. Also, large-scale fertilizer production is cost-effective using chamber acid; therefore, it is in high demand among fertilizer producers. As the government is taking more initiatives to enhance agricultural productivity in regions such as Asia Pacific, the demand for chamber acid is expected to increase. This would further bolster growth prospects in the market.

Breakup by Distribution Channel:

• Offline
• Online
   

Offline holds the maximum share in the market

A detailed breakup and analysis of the market based on the distribution channel have also been provided in the report. This includes offline and online. According to the report, offline accounted for the largest market share.

Offline distribution channels hold the largest market share for sulphuric acid, primarily due to the established trust and reliability associated with direct transactions. Purchasing sulphuric acid often requires stringent safety and handling measures, which are more confidently managed through direct, face-to-face interactions. With direct sales and distributors, manufacturers are able to develop lasting relationships with major customers. Additionally, the bulk nature of sulphuric acid transactions favors traditional procurement methods, where logistical and regulatory compliances can be closely monitored and immediately addressed. These factors make offline channels the preferred route for many businesses needing precise and secure supply chain management for chemical products.

Breakup by End Use Industry:

• Fertilizer
• Chemical and Pharmaceutical
• Automotive
• Petroleum Refining
• Others
   

Fertilizer holds the maximum share in the market

A detailed breakup and analysis of the market based on the end use industry have also been provided in the report. This includes fertilizer, chemical and pharmaceutical, automotive, petroleum refining, and others. According to the report, fertilizer accounted for the largest market share.

The fertilizer end-use industry accounts for the largest market share in the market due to the essential role of sulphuric acid in the production of phosphoric acid, which is a key component in the manufacturing of phosphate fertilizers. These fertilizers are essential for enhancing soil fertility and bolstering crop yields, which is increasingly important in meeting the rising global food demand. Moreover, the growing global population, coupled with the need to maximize agricultural productivity, particularly in emerging economies, is fueling the demand for fertilizers, which, in turn, is driving the adoption of sulphuric acid. Additionally, the use of sulphuric acid in soil conditioning and pH adjustment further solidifies its significant uptake in the fertilizer industry. Furthermore, various government initiatives supporting agricultural development, such as subsidies for fertilizers, further stimulate the market growth.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Asia Pacific leads the market, accounting for the largest sulphuric acid market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific represents the largest regional market for sulphuric acid.

According to the sulphuric acid market research report, Asia Pacific represents the leading market. The market in this region is thriving primarily due to its rapidly expanding industrial base and agriculture sector. Moreover, the growing infrastructure development, rapid industrialization, and increasing manufacturing activities across the region further bolsters the product demand. In addition, several government initiatives across Asia promoting agricultural productivity, along with increased investments in industrial sectors, are creating new opportunities for key producers in the region. Several environmental regulations are also encouraging advancements in sustainable production technologies, according to the sulphuric acid industry report.

Competitive Landscape:

• The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include Aarti Industries Ltd., Aurubis AG, BASF SE, Boliden AB, Brenntag SE, Chemtrade Logistics, Lanxess AG, Merck KGaA, Nutrien Ltd., PhosAgro, Solvay S.A., The Mosaic Company, and Valero Energy Corporation.

  (Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

• Key players in the market significantly contribute to the market growth through strategic expansions, mergers, and technological advancements. These allow companies to improve operational efficiencies, expand production capabilities, and better meet the rising global demand. Additionally, key players are continuously investing in research and development (R&D) to innovate more sustainable and cost-effective production methods. By increasing production capacities and enhancing supply chains, these companies ensure a steady flow of the product to various industries, including fertilizers, mining, and chemicals. Through these initiatives, leading firms not only solidify their market presence but also respond to changing customer needs and environmental regulations, thereby shaping the future landscape of the market.

Sulphuric Acid Market News:

• July 12, 2024: Aurubis AG announced the successful restart of its Hamburg copper smelter on July 11, following the largest maintenance shutdown in the company's history. The €95 million maintenance involved overhauling the flash smelter, installing new heat exchangers in the contact acid plant, and upgrades for improved efficiency and sustainability, like hydrogen-ready anodes. The restart is expected to ease the tight sulphuric acid supply in the region, which has been further strained by shortages of molten sulfur.

Sulphuric Acid Market Report Scope:

Key Questions Answered in This Report:

• How has the global sulphuric acid market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global sulphuric acid market?
• What is the impact of each driver, restraint, and opportunity on the global sulphuric acid market?
• What are the key regional markets?
• Which countries represent the most attractive sulphuric acid market?
• What is the breakup of the market based on the raw material type?
• Which is the most attractive raw material type in the sulphuric acid market?
• What is the breakup of the market based on the form?
• Which is the most attractive form in the sulphuric acid market?
• What is the breakup of the market based on the distribution channel?
• Which is the most attractive distribution channel in the sulphuric acid market?
• What is the breakup of the market based on the end use industry?
• Which is the most attractive end use industry in the sulphuric acid market?
• What is the competitive structure of the market?
• Who are the key players/companies in the global sulphuric acid market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the sulphuric acid market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global sulphuric acid market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the sulphuric acid industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.