Sulfuric Acid Market by Application and Geography - Forecast and Analysis 2021-2025
- Published: Oct 2021
- Pages: 120
- SKU: IRTNTR71187
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The sulfuric acid market share is expected to increase by USD 1.88 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 2.79%.
This market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by application (phosphate fertilizer, chemical production, metal processing, and others) and geography (APAC, North America, Europe, MEA, and South America). The market report also offers information on several market vendors, including Aurubis AG, BASF SE, Chemtrade Logistics Income Fund, Cornerstone Chemical Co., DuPont de Nemours Inc., Glencore Plc, Honeywell International Inc., LANXESS AG, Nouryon Chemicals Holding BV, and WeylChem International GmbH among others.
What will the Sulfuric Acid Market Size be During the Forecast Period?
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Sulfuric Acid Market: Key Drivers, Trends, and Challenges
The increasing demand for phosphate fertilizers is notably driving the market growth, although factors such as fluctuations in raw material prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the sulfuric acid industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Sulfuric Acid Market Driver
One of the key factors driving growth in the market is the increasing demand for phosphate fertilizers. The demand for fertilizers has been increasing for the past five years in the agriculture industry. This is because fertilizers have become an integral part of agriculture as it provides the soil with nutrients. Therefore, the growth of fertilizers, especially phosphate fertilizers, will boost the demand for sulfuric acid during the forecast period, as sulfuric acid is the key raw material used in the manufacturing of commercial phosphate fertilizers. Moreover, with changing lifestyles, consumers have become more conscious about their health, leading to an increase in the demand for nutrition-rich food crops. Rapid industrialization and urbanization are causing a decrease in the availability of arable land, which, in turn, is forcing farmers to use fertilizers to increase crop yield. The rising use of sulfuric acid to produce high-quality agricultural micronutrients used to boost production capacity is projected to propel the market growth during the forecast period.
Key Sulfuric Acid Market Trend
The capacity expansion and new plant additions is another factor supporting the market share growth. The global market has been witnessing the expansion of production facilities over the past 5-10 years. Moreover, increased demand for sulfuric acid from the fertilizer industry is expected to drive capacity additions in China, South America, and the Middle East. The rise in the demand for sulfuric acid from various end-user industries also compels the producers of sulfuric acid to expand their production capacities. The supply and consumption of sulfuric acid are expected to continue to increase during the next decade across the globe. The development of new production facilities and capacity expansion of the existing production facilities will drive the growth of the global market during the forecast period.
Key Sulfuric Acid Market Challenge
The fluctuations in raw material prices will be a major challenge for the market during the forecast period. The global market has been witnessing fluctuations in the cost of sulfuric acid and its raw materials over the past 3-4 years. For instance, in the US, the prices of elemental sulfur, a key raw material used to produce sulfuric, declined to $37.88/ton in 2016 from $87.62/ton in 2015 and then increased to $60/ton in 2017. These fluctuations in sulfur prices have occurred due to the shutdown of several refineries in the US. Moreover, China has also been witnessing fluctuations in sulfuric acid prices. For instance, the cost in China declined to $37/ton in October 2017 from $42.18/ton in February 2017. In addition, in March 2018, DowDuPont announced a global price increase of $0.50/litre for its MECS sulfuric acid catalyst products. Altogether, these fluctuations in the prices of sulfur and sulfuric acid will hamper the growth of the global sulfuric acid market.
This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Parent Market Analysis
Technavio categorizes the global sulfuric acid market as a part of the global commodity chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.
Who are the Major Sulfuric Acid Market Vendors?
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Aurubis AG
- BASF SE
- Chemtrade Logistics Income Fund
- Cornerstone Chemical Co.
- DuPont de Nemours Inc.
- Glencore Plc
- Honeywell International Inc.
- LANXESS AG
- Nouryon Chemicals Holding BV
- WeylChem International GmbH
This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying growth strategies such as capacity expansion, product development, and M&A to compete in the market.
Product Insights and News
-
BASF SE - The company offers sulfuric acid for a wide range of applications such as pigments, steel, and many more.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Sulfuric Acid Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the commodity chemicals market includes the following core components:
- Inputs
- Inbound logistics
- Operations
- Outbound logistics
- Marketing and sales
- Support activities
- Innovation
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for the Sulfuric Acid Market?
For more insights on the market share of various regions Request for a FREE sample now!
56% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for sulfuric acid in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The increased consumption in the agricultural and chemical industries will facilitate market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The COVID-19 pandemic in 2020 had an adverse impact on several countries in the region, such as India, Japan, Australia, and Malaysia. Many enterprises, especially small and medium-sized enterprises (SMEs), had to suspend the production of sulfuric acid for a few months in 2020. This had affected the operations, supply chain activities, and working capital of the vendors in the region. However, in Q4 2020 and H1 2021, the vendors of sulfuric acid in the region started resuming their operations with proper social distancing and sanitization norms owing to progressing vaccination drives in the region.
What are the Revenue-generating Application Segments in the Sulfuric Acid Market?
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The market share growth by the phosphate fertilizer segment will be significant during the forecast period. The demand for fertilizers among farmers to improve crop yield is increasing owing to the reduction of arable land caused due to rapid industrialization and urbanization. Therefore, the rising use of sulfuric acid to produce high-quality fertilizers for agricultural use to boost production capacity is projected to drive the growth of the global market.
This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on post-COVID-19 impact on each segment.
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Ultra-pure Sulfuric Acid market - The market share is expected to increase by USD 59.08 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.46%.
US Sulfuric Acid market - The market share is expected to grow at a CAGR of 1.47 percent over the period 2014-2019.
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Sulfuric Acid Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 2.79% |
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Market growth 2021-2025 |
$ 1.88 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
2.34 |
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Regional analysis |
APAC, North America, Europe, MEA, and South America |
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Performing market contribution |
APAC at 56% |
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Key consumer countries |
China, US, Russian Federation, Germany, and India |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Aurubis AG, BASF SE, Chemtrade Logistics Income Fund, Cornerstone Chemical Co., DuPont de Nemours Inc., Glencore Plc, Honeywell International Inc., LANXESS AG, Nouryon Chemicals Holding BV, and WeylChem International GmbH |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive market growth during the next five years
- Precise estimation of the market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behaviour
- The growth of the sulfuric acid industry across APAC, North America, Europe, MEA, and South America
- A thorough analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of market vendors
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1. Executive Summary
2. Market Landscape
2.1 Market ecosystem
Exhibit 01: Parent market
Exhibit 02: Market characteristics
2.2 Value chain analysis
Exhibit 03: Value Chain Analysis: Commodity chemicals
2.2.1 Inputs
2.2.2 Inbound logistics
2.2.3 Operations
2.2.4 Outbound logistics
2.2.5 Marketing and sales
3. Market Sizing
3.1 Market definition
Exhibit 04: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 05: Market segments
3.3 Market size 2020
3.4 Market outlook: Forecast for 2020 - 2025
3.4.1 Estimating growth rates for emerging and high-growth markets
3.4.2 Estimating growth rates for mature markets
Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 08: Five forces analysis 2020 & 2025
4.2 Bargaining power of buyers
Exhibit 09: Bargaining power of buyers
4.3 Bargaining power of suppliers
Exhibit 10: Bargaining power of suppliers
4.4 Threat of new entrants
Exhibit 11: Threat of new entrants
4.5 Threat of substitutes
Exhibit 12: Threat of substitutes
4.6 Threat of rivalry
Exhibit 13: Threat of rivalry
4.7 Market condition
Exhibit 14: Market condition - Five forces 2020
5. Market Segmentation by Application
5.1 Market segments
Exhibit 15: Application - Market share 2020-2025 (%)
5.2 Comparison by Application
Exhibit 16: Comparison by Application
5.3 Phosphate fertilizer - Market size and forecast 2020-2025
Exhibit 18: Phosphate fertilizer - Market size and forecast 2020-2025 ($ million)
Exhibit 19: Phosphate fertilizer - Market size and forecast 2021-2025 (million tons)
Exhibit 20: Phosphate fertilizer - Year-over-year growth 2020-2025 (%)
5.4 Chemical production - Market size and forecast 2020-2025
Exhibit 21: Chemical production - Market size and forecast 2020-2025 ($ million)
Exhibit 22: Chemical production- Market size and forecast 2021-2025 (million tons)
Exhibit 23: Chemical production - Year-over-year growth 2020-2025 (%)
5.5 Metal processing - Market size and forecast 2020-2025
Exhibit 24: Metal processing - Market size and forecast 2020-2025 ($ million)
Exhibit 25: Metal processing - Market size and forecast 2021-2025 (million tons)
Exhibit 26: Metal processing - Year-over-year growth 2020-2025 (%)
5.6 Others - Market size and forecast 2020-2025
Exhibit 27: Others - Market size and forecast 2020-2025 ($ million)
Exhibit 28: Others - Market size and forecast 2021-2025 (million tons)
Exhibit 29: Others - Year-over-year growth 2020-2025 (%)
5.7 Market opportunity by Application
Exhibit 30: Market opportunity by Application
6. Customer landscape
Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
Exhibit 31: Customer landscape
7. Geographic Landscape
7.1 Geographic segmentation
Exhibit 32: Market share by geography 2020-2025 (%)
7.2 Geographic comparison
Exhibit 33: Geographic comparison
7.3 APAC - Market size and forecast 2020-2025
Exhibit 34: APAC - Market size and forecast 2020-2025 ($ million)
Exhibit 35: APAC - Market size and forecast 2021-2025 (million tons)
Exhibit 36: APAC - Year-over-year growth 2020-2025 (%)
7.4 North America - Market size and forecast 2020-2025
Exhibit 37: North America - Market size and forecast 2020-2025 ($ million)
Exhibit 38: North America - Market size and forecast 2021-2025 (million tons)
Exhibit 39: North America - Year-over-year growth 2020-2025 (%)
7.5 Europe - Market size and forecast 2020-2025
Exhibit 40: Europe - Market size and forecast 2020-2025 ($ million)
Exhibit 41: Europe - Market size and forecast 2021-2025 (million tons)
Exhibit 42: Europe - Year-over-year growth 2020-2025 (%)
7.6 MEA - Market size and forecast 2020-2025
Exhibit 43: MEA - Market size and forecast 2020-2025 ($ million)
Exhibit 44: MEA - Market size and forecast 2021-2025 (million tons)
Exhibit 45: MEA - Year-over-year growth 2020-2025 (%)
7.7 South America - Market size and forecast 2020-2025
Exhibit 46: South America - Market size and forecast 2020-2025 ($ million)
Exhibit 47: South America - Market size and forecast 2021-2025 (million tons)
Exhibit 48: South America - Year-over-year growth 2020-2025 (%)
7.8 Key leading countries
Exhibit 49: Key leading countries
7.9 Market opportunity by geography
Exhibit 50: Market opportunity by geography
8. Drivers, Challenges, and Trends
8.1 Market drivers
8.1.1 Increasing demand for phosphate fertilizers
8.1.2 Growing demand from diversified applications
8.1.3 Regulations emphasizing water conservation
8.2 Market challenges
8.2.1 Fluctuations in raw material prices
8.2.2 Adoption of organic farming
8.2.3 Strict environmental regulations and strict regulation on chemical industry
Exhibit 51: Impact of drivers and challenges
8.3 Market trends
8.3.1 Capacity expansion and new plant additions
8.3.2 Increasing M&A, collaborations, and partnerships
8.3.3 Rise in demand for sulfuric acid from electronics industry
8.3.4 Recovery of by-product sulfuric acid at smelters
9. Vendor Landscape
9.1 Vendor landscape
Exhibit 52: Vendor landscape
9.2 Landscape disruption
The potential for the disruption of the market landscape was moderate in 2020, and its threat is expected to remain unchanged by 2025.
Exhibit 53: ?Landscape disruption?
Exhibit 54: Industry risks
10. Vendor Analysis
10.1 Vendors covered
Exhibit 55: Vendors covered
10.2 Market positioning of vendors
Exhibit 56: Market positioning of vendors
10.3 Aurubis AG
Exhibit 57: Aurubis AG - Overview
Exhibit 58: Aurubis AG - Business segments
Exhibit 59: Aurubis AG - Key news
Exhibit 60: Aurubis AG - Key offerings
Exhibit 61: Aurubis AG - Segment focus
10.4 BASF SE
Exhibit 62: BASF SE - Overview
Exhibit 63: BASF SE - Business segments
Exhibit 64: BASF SE - Key news
Exhibit 65: BASF SE - Key offerings
Exhibit 66: BASF SE - Segment focus
10.5 Chemtrade Logistics Income Fund
Exhibit 67: Chemtrade Logistics Income Fund - Overview
Exhibit 68: Chemtrade Logistics Income Fund - Business segments
Exhibit 69: Chemtrade Logistics Income Fund - Key offerings
Exhibit 70: Chemtrade Logistics Income Fund - Segment focus
10.6 Cornerstone Chemical Co.
Exhibit 71: Cornerstone Chemical Co. - Overview
Exhibit 72: Cornerstone Chemical Co. - Product and service
Exhibit 73: Cornerstone Chemical Co. - Key offerings
10.7 DuPont de Nemours Inc.
Exhibit 74: DuPont de Nemours Inc. - Overview
Exhibit 75: DuPont de Nemours Inc. - Business segments
Exhibit 76: DuPont de Nemours Inc. - Key news
Exhibit 77: DuPont de Nemours Inc. - Key offerings
Exhibit 78: DuPont de Nemours Inc. - Segment focus
10.8 Glencore Plc
Exhibit 79: Glencore Plc - Overview
Exhibit 80: Glencore Plc - Business segments
Exhibit 81: Glencore Plc - Key news
Exhibit 82: Glencore Plc - Key offerings
Exhibit 83: Glencore Plc - Segment focus
10.9 Honeywell International Inc.
Exhibit 84: Honeywell International Inc. - Overview
Exhibit 85: Honeywell International Inc. - Business segments
Exhibit 86: Honeywell International Inc. - Key news
Exhibit 87: Honeywell International Inc. - Key offerings
Exhibit 88: Honeywell International Inc. - Segment focus
10.10 LANXESS AG
Exhibit 89: LANXESS AG - Overview
Exhibit 90: LANXESS AG - Business segments
Exhibit 91: LANXESS AG - Key news
Exhibit 92: LANXESS AG - Key offerings
Exhibit 93: LANXESS AG - Segment focus
10.11 Nouryon Chemicals Holding BV
Exhibit 94: Nouryon Chemicals Holding BV - Overview
Exhibit 95: Nouryon Chemicals Holding BV - Business segments
Exhibit 96: Nouryon Chemicals Holding BV - Key offerings
Exhibit 97: Nouryon Chemicals Holding BV - Segment focus
10.12 WeylChem International GmbH
Exhibit 98: WeylChem International GmbH - Overview
Exhibit 99: WeylChem International GmbH - Product and service
Exhibit 100: WeylChem International GmbH - Key offerings
11. Appendix
11.1 Scope of the report
11.1.1 ????Market definition
11.1.2 ????Objectives
11.1.3 ????Notes and caveats
11.2 Currency conversion rates for US$
Exhibit 101: ?Currency conversion rates for US$?
11.3 Research Methodology
Exhibit 102: ?Research Methodology
Exhibit 103: ??Validation techniques employed for market sizing?
Exhibit 104: ??Information sources
11.4 List of abbreviations
Exhibit 105: List of abbreviations
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
Frequently Asked Questions?
- China
- US
- Russian Federation
- Germany
- India
- Increasing demand for phosphate fertilizers
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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