Global Sulfuric Acid Market to 2030 - Demand for Nutrient-Rich Crops is Compelling Growth - ResearchAndMarkets.com

The "Sulfuric Acid Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 To 2030" report has been added to ResearchAndMarkets.com's offering.

The market for sulfuric acid is projected to grow at a steady 4% CAGR during the forecast period of 2022 to 2030. Strong sulfuric acid, also known as oil of vitriol, is a solid acid formed from the elements sulphur, oxygen, and hydrogen. It is also known as the oil of vitriol.

Companies Mentioned

• DuPont
• AkzoNobel N.V.
• BASF SE
• Agrium Inc.
• PVS Chemical Solution
• Chemtrade Logistics
• Nouryon
• KMG Chemicals
• the PhosAgro Group of Companies
• Aurubis AG
• WeylChem International GmbH

In addition to its employment in the production of other chemicals, explosives, and glue, it is also put to use in the curing of metal and the refining of petroleum. The growth can be ascribed to the presence of strong environmental regulations to control emissions, which is likely to lead to the increased usage of smelters in order to capture sulphur dioxide products. Parallelly the growth is also driven by the increasing adoption of sulfuric acid in a wide range of applications, including the manufacturing of fertilisers and chemical products.

Demand for Nutrient-Rich Crops is Compelling the Market Growth for Sulfuric Acid

The global market for sulfuric acid is being driven by an increase in the production of crops rich in nutrients. It is anticipated that there would be a significant increase in the demand for fertilisers as a result of the larger expectation of yield increases from farmers and the decreased availability of fertile land for agricultural practises as a result of expanding urbanisation. The addition of fertilisers to agricultural practices has become commonplace. These additions enrich the soil with elements like potassium, phosphate, and nitrogen.

They are responsible for fifty per cent of the total crop production that is produced across the globe. The demand for sulfuric acid, which is the most important raw material in the production of commercial phosphate fertilisers, is expected to rise as a result of the expansion of the fertiliser industry overall and particularly in the phosphate sector.

Regulation in Emission to Boost the Sulfuric Acid Market

It is anticipated that factors such as fluctuations in the prices of raw materials as a result of rising consumption from phosphate fertiliser producers during periods of tight supply and the implementation of various regulations for the production of environmentally friendly products will have a negative impact on the growth of the industry. It is anticipated that during the period from 2017 to 2025, there will be an increase in the implementation of standards such as New Source Performance Standards (NSPS) to regulate the emissions of sulphur dioxide, sulfuric acid mist, particulate matter, and nitrogen oxides from H2SO4 production facilities. This will lead to an expansion of the market.

High Cost Associated with Pollution Control Systems Barricading the Market Revenue

In the electrical and pharmaceutical industries, ultra-pure sulfuric acid can be used for a wide number of purposes. However, increasing the production of ultra-pure sulfuric acid is still a difficult aspect for the top competitors in the industry. The production of ultra-pure sulfuric acid involves heating raw ingredients, such as sulfuric acid, to their boiling point and then distilling the resulting mixture.

Sulphur among Other Raw Materials Dominated the Market in 2021

In 2021, the elemental sulphur raw material segment captured a substantial portion of the market, and it is anticipated to make the most rapid progress over the course of the forecast year. The raw material contributes significantly less to environmental damage than pyrite ore does or what base metal smelters do, and it is widely accessible within the sector.

Fertilizers Contributed Over Half of the Global Revenues, Electronics to Grow Fastest

In 2021, fertilizer was the most dominating application segment that contributed over 50% of market revenues. The market is likely going to experience growth in the near future as a result of increasing demand for increased crop quality as well as rising population levels around the world.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Sulfuric Acid market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2030.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Sulfuric Acid market?
• Which is the largest regional market for Sulfuric Acid market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Sulfuric Acid market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Sulfuric Acid market worldwide?

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