What Fueled The Previous Growth In The Sulfuric Acid Market?
The sulfuric acid market has seen considerable growth due to a variety of factors.
• In recent times, the sulfuric acid market has seen a significant growth in size. The market is set to expand from $16.17 billion in 2024 to reach a value of $17.66 billion in 2025, representing a compound annual growth rate (CAGR) of 9.2%.
The market's expansion in the historical era is linked to factors such as the industrial revolution, the production of fertilizers, extensive industrialization, development in infrastructure, and a rise in battery production.
How Does the Forecast Look for the Sulfuric Acid Market?
The sulfuric acid market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the sulfuric acid market is anticipated to witness robust growth. The market is projected to reach a value of $24.34 billion in 2029 with a CAGR of 8.4%.
This growth over the forecast period is attributed to factors such as supply chain enhancement, growth in emerging markets, shifts in the energy sector, worldwide economic conditions, and fertilizer production. Key trends during the forecast period are innovative industrial uses, chemical manufacturing, metallurgical procedures, wastewater treatment, and environmentally-friendly initiatives.
What Are The Leading Drivers Of Growth In The Sulfuric Acid Market?
The accelerated adoption of electric vehicles is anticipated to fuel the expansion of the sulfuric acid market in the future. An electric vehicle is a mode of transportation that operates on electricity. Unlike conventional vehicles that utilize a gasoline or diesel-fueled engine, electric cars and trucks employ an electric motor powered by electricity from batteries or a fuel cell. The manufacturing of lead-acid batteries, mainly for cars and electric vehicles, utilizes sulfuric acid, thus increasing its demand. The International Energy Agency, a France-based independent intergovernmental organization, reported in April 2024 that by 2023, electric car sales had almost hit 14 million, constituting roughly 18% of total car sales, a rise from 14% in 2022. Consequently, the fast-paced adoption of electric vehicles across the region is propelling the sulfuric acid market's growth.
How Are The Segments Defined Within The Global Sulfuric Acid Market?
The sulfuric acid market covered in this report is segmented –
1) By Raw Material Type: Elemental Sulfur, Pyrite Ore, Base Metal Smelters, Other Raw Material Types
2) By Form Type: Concentrated, Tower Or Glover acid, Chamber Or Fertilizer Acid, Battery Acid, 66 Degree Baume Sulfuric Acid, Dilute Sulfuric Acid
3) By Purity Type: Standard, Ultra-Pure
4) By End-User Industry: Fertilizer, Metal Processing, Pulp And Paper, Petroleum Refining, Textile Industry, Automotive, Chemical Manufacturing, Other End-User Industries
Subsegments:
1) By Elemental Sulfur: Frasch Process Sulfur, Sulfur Recovery Units
2) By Pyrite Ore: Natural Pyrite, Roasted Pyrite
3) By Base Metal Smelters: Copper Smelting, Nickel Smelting, Zinc Smelting
4) By Other Raw Material Types: Hydrogen Sulfide, Sulfur Dioxide, Sulfuric Acid From Recycling Processes
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How Are Emerging Trends Reshaping The Dynamics Of The Sulfuric Acid Market?
The trend of expanding production plants using advanced technology is gaining traction in the sulfuric acid market. The primary firms in the market are working towards establishing new sulfuric acid plants utilizing innovative technologies to retain their market standing. For example, in October 2022, Andritz AG, a technology group based in Austria, established the first ever sulfuric acid plant for Klabin's Ortigueira mill in Brazil. This plant has the capacity to generate 150 metric tons of high-quality sulfuric acid (>98%) every day, derived from concentrated odorous vapors and elemental sulfur. The plant's technological features are rooted in Andritz's self-initiated A-Recovery+ concept, which allows for the extraction of side streams from the pulp-making process and their conversion into commercial products and resources. This plant is a part of Andritz's CircleToZero product roster, designed to eliminate waste byproducts, generate new merchandise with greater value, and establish a zero-waste, zero-emissions production model.
Who Are the Key Players In The Sulfuric Acid Market?
Major companies operating in the sulfuric acid market are:
• BASF SE
• Akzo Nobel N.V.
• Mitsubishi Chemical Corporation
• Chemtrade Logistics Inc.
• Eastman Chemical Company
• Huntsman International LLC
• Solvay S.A.
• Yara International ASA
• OCP S.A.
• Acron Group
• Tata Chemicals Limited
• Trinseo S.A.
• The Mosaic Company
• Nutrien Ltd.
• GFS Chemicals
• Inc.
• BHP Group Limited
• Rio Tinto Group
• Vale S.A.
• Chemours Company
• Oman Oil Refineries and Petroleum Industries Company
• LSB Industries
• Inc.
• Southern States Cooperative
• Inc.
• LyondellBasell Industries N.V.
• CF Industries Holdings
• Inc.
• Grupa Azoty S.A.
• Petronas Chemicals Group Berhad
• AECI Limited
• K+S AG
What Is The Most Dominant Region In The Sulfuric Acid Market?
Asia-Pacific was the largest region in the sulfuric acid market in 2024. The regions covered in the sulfuric acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
