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The US sulfuric acid market size is forecast to increase by USD 1.12 billion at a CAGR of 6.78% between 2023 and 2028. The market is experiencing significant growth, driven by the expanding demand for this versatile chemical in various applications. Sulfuric acid is a crucial ingredient in the production of numerous fertilizers, including phosphate and ammonium sulfate, which are essential for agriculture. Additionally, the increasing use of sulfuric acid in the manufacturing of lead-acid batteries, a key component in automotive and renewable energy systems, is further fueling market growth. This trend is expected to continue as the demand for sustainable energy solutions rises and agricultural productivity remains a priority.
The Market is a cornerstone of the global chemical manufacturing industry, integral to diverse sectors such as agriculture, automotive, metal processing, and petroleum refinery. Environmental considerations are increasingly shaping the market, with tightening environmental regulations addressing toxic emissions and acid rain. The industry's response includes investments in wastewater treatment, renewable energy, and cleaner production methods to minimize soil and water pollution. The market also supports the production of synthetic detergents, dyes and pigments, mineral acid, hydrochloric acid, nitric acid, fabric cleaners, and industrial cleaning agents. It is critical for manufacturing chemotherapy drugs targeting cancerous cell DNA, and in creating skin ointments for treating skin infections and canker sores. In the automotive sector, oxygen is used as a reactant in various processes, while in the paper and pulp industry, metal processing industry, and petroleum refinery industry, sulfate salts are involved in critical applications despite their highly corrosive nature. These compounds also play a role in textile production, highlighting their widespread industrial significance. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
Growing demand for sulfuric acid from diversified applications is the key factor driving the growth of the market. Sulfuric acid is used in extraction processes in the petroleum refining, steel, and non-ferrous metals industries and is also used in the production of explosives, plastics, viscose, and detergents for special applications in the chemical industry. Additionally, sulfuric acid is used in the pulp and paper industry to produce chlorine dioxide, decompose tall oil, and pH adjustments. Sulfuric acid acts as both an oxidizing agent and a dehydrating agent.
In addition, sulfuric acid is a major b-product obtained from petroleum and chemical refineries, which is utilized/used in various end-use applications. The regenerated acids discharge low carbon emissions, leading to reduced production costs, which makes them sustainable and environmentally friendly. Thus, diverse applications of sulfuric acid are expected to accelerate the growth of the market during the forecast period.
Recovery of sulfuric acid at smelters is the primary trend in the market growth. Sulfuric acid can be made from smelter by-products. Sulfuric acid plants are installed in production of copper to limit SO2 emissions in new and existing smelters. By installing an efficient sulfuric acid plant, we are reducing the combustion of sulfur and contributing to the recycling of smelting residue. This process is widely used in the metals and oil and gas industries to dispose of unwanted by-products.
Moreover, extensive mineral exploration is depleting the ore quality in most of the reserves, leading to exhaustive mining activities to extract the mineral, which in turn translates into high SO2 formation. The increasing demand for environmentally mandated smelter capacity to produce sulfuric acid is also likely to propel the market growth during the forecast period.
Fluctuations in raw material prices are a major challenge to the growth of the market. Over the last three to four years, the market has seen volatility in the cost of sulfuric acid and its raw materials, as well as the sulfur prices due to the closure of several refineries. The fluctuation in sulphuric acid prices can influence the choices made by various customers across industries, influencing their procurement decisions. Ensuring a stable and competitive sulphuric acid price is crucial for industries reliant on this chemical compound, especially those requiring specific grades like semiconductor grade due to their stringent purity requirements.
For instance, in October 2021, DuPont Clean Technologies (DuPont de Nemours Inc.) announced an additional increase in the price of USD 1.80/liter for its cesium MECS sulfuric acid catalyst products and USD 0.30/liter for all other MECS sulfuric acid catalyst products. Altogether, these fluctuations in the prices of sulfur and sulfuric acid will hamper the growth of the market during the forecast period owing to the high demand and supply imbalance or oversupply of these raw materials. Hence, such factors are hindering the market during the forecast period.
The market share growth by the elemental sulfur segment will be significant during the forecast period. In sulfur recovery units, hydrogen sulfide is primarily processed thermally to produce elemental sulfur. It serves as a crucial building block in the synthesis of chemicals such as sulfuric acid, carbon disulfide, and the organo-sulfur compounds used in the pharmaceutical and agrochemical industries. Sulfuric acid, which is used in chemical industries across the world, is produced using a sizable amount of elemental sulfur. The production of sulfuric acid in a sulfuric acid plant involves the combustion of elemental sulfur with air to produce sulfur dioxide, which is then oxidized to produce sulfur trioxide in the presence of a vanadium oxide catalyst. It is followed by SO3 being absorbed by watet to produce sulfuric acid.
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The elemental sulfur segment was the largest segment and valued at USD 1.68 billion in 2018. Emissions from using elemental sulfur are lower than those from pyrite ore or base metal smelters, elemental sulfur accounted for the largest revenue share in the market in the US in 2022. Less pollution is produced when elemental sulfur is used to produce sulfuric acid as compared to the melting of base metals and roasting of pyrite ore, which necessitates the use of strict procedures by businesses and factories to clean the sulfur oxide gas produced before releasing it into the atmosphere. Such factors will increase segment growth during the forecast period.
Companies are implementing various market growth and forecasting strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.
Key manufacturing processes like the contact process remain fundamental in sulfuric acid production, catering to diverse sectors such as the semiconductor industry where the need for electronic grade sulfuric remains crucial. Market expansion efforts in Latin America and the USA emphasize strategic decisions to address market demand while navigating restrictions and competition. The sulfuric acid price remains a critical determinant in the industry's growth and profitability among players.
Cornerstone Chemical Co.: The company offers sulfuric acid for application in car batteries. Also, the company produces acrylonitrile, which is used for manufacturing hard plastics, synthetic fibers, synthetic rubbers, and as a fuel component for the space shuttle.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
BASF SE, Cornerstone Chemical Co., Dulany Industries Inc., DuPont de Nemours Inc., Ecovyst Inc., Entegris Inc., Glencore Plc, Hibrett Puratex, Honeywell International Inc., Itafos Inc., Noah Chemicals, Nyrstar, Oxbow Corp., ProChem Inc., PVS Chemicals Inc., TCP Analytical, The Chemical Co., The Mosaic Co., Tronox Holdings Plc, and WeylChem International GmbH
Qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
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
The Market is a cornerstone of the global chemical manufacturing industry, integral to diverse sectors such as Agriculture sector, automotive, metal processing, and petroleum refinery. Its strong acidic properties make it essential in producing phosphate-based fertilizers like inorganic phosphate fertilizers, superphosphate of lime, mono ammonium phosphate (MAP), and diammonium phosphate (DAP). These fertilizers boost the yield of crops by providing necessary nutrients like nitrogen and phosphorus. In the metal industry, sulfuric acid is vital for steel pickling, removing rust and contaminants from iron and aluminum. Sulfur recovery technologies are integral to maintaining environmental standards in industries such as petroleum refineries, while the industrial lead-acid battery market benefits from this technology, as sulfur recovery enhances the performance and longevity of lead-acid batteries used in various applications, including vehicles and industrial machinery.
Furthermore, sulfuric acid is pivotal in cement and limestone processing, rayon manufacturing, and the phosphate fertilizers segment. With its abundant availability and easy accessibility, it remains a fundamental commodity chemical driving significant growth in the chemical manufacturing industry. The lead-acid battery market future hinges on sustainable practices, including reducing acid mine drainage (AMD) and protecting ecosystems, with innovations in the lean chamber process and pyrite usage expected to enhance production capacity. Additionally, the market for phosphate will benefit from these advancements, as they improve the efficiency and environmental impact of production processes across various industrial applications.
Market Scope |
|
Report Coverage |
Details |
Page number |
142 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.78% |
Market growth 2024-2028 |
USD 1.12 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.24 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
BASF SE, Cornerstone Chemical Co., Dulany Industries Inc., DuPont de Nemours Inc., Ecovyst Inc., Entegris Inc., Glencore Plc, Hibrett Puratex, Honeywell International Inc., Itafos Inc., Noah Chemicals, Nyrstar, Oxbow Corp., ProChem Inc., PVS Chemicals Inc., TCP Analytical, The Chemical Co., The Mosaic Co., Tronox Holdings Plc, and WeylChem International GmbH |
Market dynamics |
Parent market analysis, Market forecasting, market growth, and trends, 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 market forecast period |
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. |
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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 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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