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Sulfuric Acid is a vital inorganic chemical with the formula H2SO4. It is primarily used as a raw material in various industries, including fertilizers, textile production, pulp and paper, automobile manufacturing, and base metal smelters. The production of Sulfuric Acid involves the contact process, which uses Sulfur, Oxygen, and Water. The primary sources of Sulfur for Sulfuric Acid production are Elemental Sulfur and Pyrite Ore. The market is driven by the demand for Phosphate fertilizers, which require Sulfuric Acid as a key ingredient. Additionally, Sulfuric Acid is used in the production of Ammonia, Hydrofluoric acid, Nitric acid, and various Plastics and Polymers. The ecosystem of the Sulfuric Acid industry includes key players such as Sumitomo Corporation and Saconix. Other significant players include Sulfuric Acid producers like Ammonia Trasporti, Aurubis AG, and Thyssenkrupp AG. The market for Sulfuric Acid is expected to grow due to the increasing demand for Phosphate fertilizers and the expanding automobile manufacturing industry.
Also, sulfuric Acid is used in the production of Hydrogen through the steam methane reforming process. It is an essential raw material in the production of various chemicals, including Hydrochloric acid, Sodium sulfate, and Barium sulfate. Furthermore, Sulfuric Acid is used in various applications, such as in the production of Detergents, Water treatment, and Leather processing. The market is also driven by diverse applications across industries such as the fertilizer industry, metallurgical operations, and base material smelters. Advanced technologies like membrane technology, advanced oxidation processes (AOPs), and biotechnology enhance production efficiency. Innovations in smart sensors and 3D printing technology optimize manufacturing processes. Notably, materials like Edmeston SX stainless steel alloy and processes such as HEROS heat recovery system contribute to sustainable production in architectural processes.
The rise in demand for this acid in the electronics industry is a growing driver in the market. An important chemical reagent for microelectronics is electronic-grade sulfuric acid, also known as ultra-pure acid or high-purity acid. The ability of high-purity acid to clean and etch the wafer, a thin, flat slice of semiconductor material, effectively removes impurity particles, inorganic residue, and carbon deposits. Additionally, this grade of this acid is primarily produced for use in silicon wafer manufacturing to meet the high-quality requirements of the semiconductor industry.
However, it is also used for the production of Printed Circuit Boards and PCBs. Given the growing worldwide use of appliances, as well as rapid economic growth in emerging countries like India, it is anticipated that chips will grow at a steady rate over the forecast period. The semiconductor industry is a rapidly growing end-user industry. Therefore, the increasing adoption of semiconductors in data processing, communications, consumer electronics, automotive, and industrial applications is expected to foster the growth of the market during the forecast period.
Capacity expansions and new plant additions is a primary trend in the market. Over the past five to ten years, production facilities have been expanding, which has led to an increase in the global market. Additionally, capacity expansions in China, South America, and the Middle East are anticipated to be driven by the fertilizer industry's demand for this acid. Producers are also forced to increase their production capacities as a result of the growing demand for this acid from various end-user industries. Global consumption and supply of this acid are expected to continue growing over the next ten years.
For instance, In December 2021, Boliden entered into an agreement with Metso Outotec regarding the expansion investment in Odda zinc smelter. This agreement includes a roasting plant, sulfuric acid plant, and leaching technology and engineering services. After the expansion, the production capacity of the Boliden Odda zinc smelter will increase from 200,000 tons to 350,000 tons per year. The deadline for the expansion has been decided to be Q4 2024. Similarly, in November 2021, PhosAgro announced a new acid production unit with 3,300 tons per day (SK-3300) capacity at its Cherepovets production site. Therefore, the development of new production facilities and capacity expansion of the existing production facilities will present major opportunities for the growth of the market during the forecast period.
The adoption of organic farming is a major challenge in the market. Concerns about the negative effects of various chemical products are causing a steady rise in the demand for organic fertilizers. This scenario is likely to have a negative impact on the global market for sulphuric acid because organic farming uses fertilizer from green manure rather than inorganic fertilizers like phosphates. Cancer, obesity, and birth defects are all caused by the widespread use of synthetic chemical pesticides and fertilizers in non-organic products. Pesticide and fertilizer use has a global impact on health and mortality.
Moreover, in developing countries, where two-thirds of these deaths occur, such poisonings are associated strongly with excessive exposure to and inappropriate use of toxic chemicals. This is contributing to an increase in the worldwide sale of organic products and it is expected that, over the forecast period, there will be significant growth for the organic food sector in large countries like the US, Germany, China, and France. The demand for organically produced products and agricultural practices has increased due to increasing awareness about the toxic effects of inorganic chemicals, which leads to a reduction in phosphate fertilizer demand. Therefore, the high adoption of organic farming is reducing the share of chemical fertilizers for crop cultivation, in turn, restraining the growth of the global market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
BASF SE - The company offers acid such as Aurubis sulfuric acid.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The base metal smelter segments are estimated to witness significant growth during the forecast period. As a major supplier of raw materials for the global market, base metal smelters accounted for a majority share as a raw material in the market. The demand for base metals and smelting processes that produce sulfur acid has a direct impact on the availability of sulfur dioxide gas in the manufacture of sulphuric acid.
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The base metal smelters segment was the largest segment and was valued at USD 12.42 billion in 2018. Changes in the prices of base metals, global demand, and supply dynamics, as well as economic conditions, have a major impact on plant capacity and production at Base Metal Smelters. Advances in emission standards and environmental regulations also have a significant impact on the growth of the segment. The use of advanced gas treatment technologies, such as sulfur recovery units and acid facilities, is prompted by stricter limitations on sulfur dioxide emissions from smelters in order to meet environmental standards.
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APAC is estimated to contribute 46% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional market trends and analysis and drivers that shape the market during the forecast period. The high demand for this acid in the region can be attributed to its increased consumption in the agricultural and chemical industries. APAC is among the largest manufacturers and consumers of this acid. China, India, Indonesia, Vietnam, and Japan are the key revenue-generating countries in the region due to the high demand for phosphate fertilizers.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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The market plays a significant role in various industries, including metal processing, fertilizers, textile production, pulp and paper, automobile manufacturing, and more. Sulfuric acid is primarily used as a raw material in the production of base metals like Iron, Steel, Copper, and Aluminum. In the metal processing industry, sulfuric acid is employed in the contact process method for the extraction of base metals from their ores. Sulfur, obtained from Pyrite ore, is the primary raw material for the production of sulfuric acid. The process involves the oxidation of sulfur using oxygen and hydrogen. The resulting sulfuric acid is used in the production of phosphate fertilizers such as Phosphoric Acid, Diammonium Phosphate (DAP), Monammonium Phosphate (MAP), and Ammonium Phosphate (APP). Sulfuric acid is also used in the production of hydrofluoric acid, nitric acid, and various plastics and polymers. In the textile industry, it is used as a mordant for dyes and pigments.
In the pulp and paper industry, it is used in the production of paper and in the bleaching process. The automobile manufacturing industry uses sulfuric acid in the production of batteries and in the production of explosives. Sumitomo Corporation and Saconix are some of the major players in the market. The ecosystem of the industry includes various downstream industries such as fertilizers, textiles, pulp and paper, automobile manufacturing, and various chemical industries. Sulfuric acid is also used in the production of sulphur dioxide, which is used as a reducing agent in various industries. It is also used in the production of various medicines and in the production of dyes, pigments, and explosives. Overall, the Sulfuric Acid industry is a critical component of various industries and plays a significant role in the global economy.
Market Scope |
|
Report Coverage |
Details |
Page number |
185 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.31% |
Market growth 2024-2028 |
USD 5.70 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
3.17 |
Regional analysis |
APAC, Middle East and Africa, North America, Europe, and South America |
Performing market contribution |
APAC at 46% |
Key countries |
China, US, India, Morocco, and Russia |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aurubis AG, BASF SE, Boliden AB, Chemtrade Logistics Income Fund, China National Chemical Corp., Cornerstone Chemical Co., DuPont de Nemours Inc., Ecovyst Inc., Glencore Plc, Gulf Fluor, Hindustan Zinc Ltd., Honeywell International Inc., Jubilant Industries Ltd., Korea Zinc Co. Ltd, Lanxess AG, Nouryon, Sumitomo Chemical Co. Ltd., Thermo Fisher Scientific Inc., Trident Ltd., and WeylChem International GmbH |
Market dynamics |
Parent market growth analysis Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Raw Material
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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