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Sulfuric Acid Market Analysis

Report ID: GMI6832
Published Date: Sep 2023
Report Format: PDF

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Sulfuric Acid Raw Market Analysis

Sulfuric Acid Market Size, By Raw Material, 2021 - 2032 (USD Billion)

Based on raw material, the sulfuric acid market is segmented as elemental sulfur, base metal smelters, pyrite ore, others. Elemental sulfur held a majority market value of USD 11.40 billion in 2022. The raw material segments of elemental sulfur and base metal smelters are leading due to their high availability and established production processes. Elemental sulfur is a primary source, and base metal smelters contribute significantly. Pyrite ore and other sources play a smaller role, often subject to market variations and supply challenges.

Sulfuric Acid Market Revenue Share, By Application, (2022)

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Based on application, the sulfuric acid market is segmented as fertilizers, chemical manufacturing, metal processing, petroleum refining, textile industry, automotive, pulp & paper, and others. Fertilizers held a dominant market share of around 55% in 2022 and is expected to grow at a lucrative pace till 2032. The global market is driven by fertilizers owing to rising global demand for agricultural production. Chemical production matches sulfuric acid’s versatility and plays an important part in many chemical reactions. It’s necessary in metal mining to get such metals as copper and zinc out of the ground. Moreover, Sulfuric Acid is an important chemical used during petroleum refining, helping to create gasoline and other crucial fuels, shining light on its importance and necessity within this industry.

U.S. Sulfuric Acid Market Revenue, 2021 - 2032 (USD Billion)

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U.S. dominated the North American region with majority sulfuric acid market share and a revenue of USD 6.1 billion in 2022. The pivotal role of sulfuric acid in fertilizer production supports the agricultural activities in the US, making this end-use segment dominant for the regional market. Furthermore, it has remained highly relevant in the chemical process and metal industry, pushing forward growth. Additionally, the increasing consumption of sulfuric acid in the petroleum refining process for energy generation further asserts its dominance, revealing its significant impact and consistent growth in these key industries of North America.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for sulfuric acid was worth USD 23.1 billion in revenue in 2023 and is projected to reach USD 56 billion by 2032 driven by rising adoption in the chemical industry, metals processing industry, and fertilizers.

Sulfuric acid industry from the elemental sulfur segment generated USD 11.40 billion in revenue in 2022 and is expected to witness high demand through 2032 due to their high availability and established production processes.

U.S. market size for sulfuric acid was USD 6.1 billion in 2022 and is anticipated to expand significantly through 2032 owing to increasing usage in fertilizer production for supporting agricultural activities in the US.

Some of the top companies engaged in the sulfuric acid business are BASF SE, DuPont de Nemours, Inc., The Mosaic Company, Akzo Nobel N.V., Valero Energy Corporation, PVS Chemicals, Inc., PotashCorp, Ineos Enterprises, Praxair Technology, Inc., Chemtrade Logistics, Southern States Chemical, and Agrium Inc.