Sulphuric Acid Market Size, Share | Global Industry Analysis Reports, 2030 | ChemAnalyst

NEW YORK - June 9, 2022 - PRLog -- Sulphuric Acid market witnessed a steady growth in the historic years with a CAGR of 4.01% and is estimated to achieve a CAGR of 3.72% until 2030 owing to its constant demand from Agriculture sector as majority of the total Sulphuric acid produced globally 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 such as Fertilizers, Chemicals, Metal Processing, Automotive, and Pharmaceuticals. Fertilizer production is the most lucrative segment for 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.

In 2020, there was no major impact of Covid on Sulphuric Acid industry, as there was a constant demand from the major end use industry i.e., Fertilizers. Though a minimal dip was observed from Chemical sector due to halt in manufacturing process and trade restriction in the first half of 2020. However, since the latter half of 2020 after the resumption in the industrial operations with full efficacy there was a speedy recovery in the demand of Sulphuric Acid and is projected to grow at a significant rate with the growing end use industries.

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Major Players:

• KMG Chemicals,
• PhosAgro Group of Companies,
• Aurubis AG, Nouryon,
• Mosaic Company,
• PotashCorp,
• Groupe Chimique Tunisien,
• PVS Chemicals,
• Chemtrade Logistics Income Fund (Canada),
• BASF SE,
• Akzonoble NV,
• DuPont,
• INEOS Enterprises
• Agrium Inc.