The global sulfuric acid market is expected to be valued at USD 13.45 billion by 2025, according to a new report by Grand View Research, Inc. Increasing investments in plant facilities due to the rising production capacity of phosphate fertilizer and tightening environmental regulations are anticipated to spur the market over the foreseeable period.
Rising demand for the production of nutrient-rich food crops is expected to boost the industry. Increasing requirement for the continuous & sustainable H2SO4 product for the manufacturing of phosphate fertilizer, inorganic chemicals, detergents & soaps, dyes, and gasoline is expected to trigger industry growth over the forecast period.
Growing suppliers of sulfuric acid in Saudi Arabia due to the presence of large number of acid manufacturing facilities to strengthen the growth of phosphate is expected to spur the Middle East regional market. Factors such as increase in the number of initiatives carried out by companies such as DuPont, Outotec, and Sumitomo Corporation to expand their plant facilities, enhance distribution network, and expand processing capacities are projected to propel the market over the next eight years.
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Further key findings from the report suggest:
- The global demand was valued at USD 10.10 billion in 2016, at an estimated CAGR of 3.3% from 2017 to 2025
- Elemental sulfur was the largest raw material segment in 2016, accounting for over 57% of the overall market
- Increasing demand for the manufacturing of sulfuric acid from elemental sulfur owing to its environmentally-friendly property in comparison to base metal smelter or pyrite ore roasting is projected to propel elemental sulfur raw material segment
- Fertilizers was the largest application segment in 2016 and is expected to progress at a moderate rate over the foreseeable period
- Increasing demand for the production of phosphate fertilizer to enhance the quality of irrigation water is projected to propel fertilizer application growth
- In terms of revenue, Asia Pacific was the dominant regional segment in 2016 and is anticipated to hold a considerable share in the market, at an estimated CAGR of around 3.6% over the forecast period
- Growing demand for H2SO4 products in chemical industries from emerging the economies of China and India and the availability of raw materials in this region is projected to drive Asia Pacific regional segment
- In May 2017, DuPont Clean Technologies received a contract agreement from Yidu Xingfa Chemical Co. Ltd. for the technology and engineering license for a 3600 tpd MECS MAX3 sulfuric acid plant. This initiative is expected to strengthen the company’s Xingfa plant in China.
- Some players operating in this industry include Mosaic Company, Chemtrade Refinery, DuPont, Akzonobel N.V., BASF, PVS Chemical Solution, Valero Energy, and Solvay among others.
Grand View Research has segmented the global sulfuric acid market based on raw material, application, and region
Raw Material Outlook (Volume, Million Tons; Revenue, USD Million; 2014 – 2025)
- Elemental sulfur
- Base metal smelters
- Pyrite ore
Application Outlook (Volume, Million Tons; Revenue, USD Million; 2014 – 2025)
- Chemical manufacturing
- Metal processing
- Petroleum refining
- Textile industry
- Paper & pulp
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.