(MENAFN- ChemAnalysts) According to ChemAnalyst report, “Global Sulphuric Acid market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2030”. Sulphuric Acid market witnessed a steady growth in the historic years and is estimated to reach market volume of 300 million tonnes with a CAGR of 3.47% until 2030 owing to its constant demand from Agriculture sector as majority of the total Sulphuric acid is consumed for the production of Phosphoric Acid which is further used to produce Phosphate fertilizers.
Sulphuric Acid is a highly reactive mineral acid and an oxidizing agent comprised of Sulphur, Hydrogen and Oxygen. It is a colorless, oily, water-soluble liquid that is corrosive in nature. Sulphuric Acid is produced by two processes that are Lead Chamber Process and Contact Process. Contact Process method is used for producing H2SO4 primarily by the production of sulphur dioxide using sulphur as key feedstock in the presence of air across the globe. Apart from Sulphur other raw materials used for Sulphuric Acid production are Exhaust Gases and Pyrite.
Sulphuric Acid find applications in various industries. Fertilizer production is the market driver of the Sulphuric Acid market. Rising pressure on farmers to increase the crop yield to meet the surging demand for food following growing population across the globe would generate the need for fertilizers which is expected to fuel the total demand for Sulphuric Acid in the forecast period. In metal processing, Sulphuric Acid is being employed in ore cleaning, pickling to steel and iron to remove rust, oxidation and scaling for their further use in appliance industry as well as in automotive sector. Oil Refining and Waste Water Processing are the other sectors in which Sulphuric Acid is used substantially and demand from these sectors is also going to boost its market over the forecast period.
The global Sulphuric Acid market is segmented based on end-use, sales channel, and region. Based on the end-user industry, the global Sulphuric Acid market is segregated into Phosphate Fertilizers, Metal Processing, Phosphating, Fibres, Paints & Pigments, and Other end-use industries. Phosphate Fertilizers are dominating the Sulphuric Acid market on the global level. In 2021, this industry accounted for approximately 45% of the global market.
Asia-Pacific region holds the maximum share of consumption for Sulphuric Acid and is expected to dominate the Sulphuric Acid market. In Asia Pacific, upsurge in the demand for H2SO4 is witnessed due to rapid industrialization and growing population coupled with the flourishing Agriculture sector leading to the expansion of fertilizer manufacturing industries in the major agricultural countries such as China, India, Israel, Indonesia, Australia. Additionally, the presence of leading producers of Sulphuric Acid are in Asia-Pacific which is also a driving factor for its market growth in the region. North America is also expected to show a significant growth in the market for Sulphuric Acid due to the presence of giant chemical industries in the region.
“Global Sulphuric Acid Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2030”, The major players operating in the global Sulphuric Acid market are Yunnan Yun, Guizhau Phosphate Group, Saudi Arabian Mining Company (Ma’aden), OCP Group, Anhui Tomgling ( North ferrous metal), Hubei Yihua, Jiangsu copper, Sichuan Dragon Python Group, Hubei Xingfa, Aurubis, Shangdong Yanggy Xiansgguang, Boliden AB, and Codelco.
“Sulphuric acid is a versatile chemical that is utilized in the manufacturing of several other chemical including Hydrochloric acid, Phosphoric Acid, Nitric Acid, Hydrofluoric acid, Titanium dioxide, and more which are further employed in the production of dyes & pigments, synthetic detergents, sulfate salts, drugs, paints, coatings and explosives. Moreover, it also has minor applications as cleaning agent, an electrolyte in lead acid batteries, in Chemistry laboratories, in domestic acidic drain cleaners, etc. All these applications of Sulphuric acid in different sectors swell up its demand and is expected to drive its market in the forecast years. With new competitors emerging across the Asia Pacific Sulphuric Acid market, players anticipate that there will be sufficient supply demand gaps in future. At this, it is extremely important to keep an eye which region will grab the biggest market share in the upcoming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
MENAFN25052023006018013113ID1106314849
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.