Sulphuric Acid Market Size, Share, Growth, and Industry Analysis, By Type (Reagent Grade, Industrial Grade) By Application (Metallurgical, Oil, Fertilizer, Other), and Regional Forecast to 2033

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SULPHURIC ACID MARKET OVERVIEW

The sulphuric acid market, worth USD 15.8 billion in 2024, is forecasted to increase to USD 16.1081 billion in 2025 and surpass USD 18.1 billion by 2033, expanding at a CAGR of 1.95% throughout The period.

The sulphuric acid business is a highly significant industry in numerous industrial applications, particularly fertilizers, metallurgy, and chemicals. It is a highly reactive and highly versatile industrial acid possessing highly powerful oxidizing properties. Growth in the market has one of the main causes in the increasing demand for fertilizers, and more specifically phosphate fertilizers, since sulphuric acid is a major ingredient in their manufacture. Besides, applications in petrochemical processing, chemical manufacturing, and wastewater treatment aid in the development of the market. The market is also burdened with high interest due to its use in the manufacture of batteries, particularly electric vehicle batteries. However, environmental regulation on acid emission and management may have an impact on growth. Asia-Pacific remains the dominant region due to rising industry and agricultural sectors. Europe and North America are vital contributors due to technology in the manufacturing process. The market will witness steady growth due to industrialization and increased demand for goods in the economies that are increasing.

COVID-19 IMPACT

"Sulphuric Acid market Had a Negative Effect Due to Increased Investment During COVID-19 Pandemic"

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Even as demand from the chemical and fertilizer industries was stable, short-term challenges were caused by disruptions in supply chains and occasional factory closures. Thanks to industrial activity curbs, the demand fell but restored itself when industries resumed operations gradually. The crisis brought the need for robust supply chain initiatives and local sourcing into prominence for curbing the reliance on international suppliers. Moreover, sulphuric acid demand in water treatment processes surged, countering some losses from other industries. Digitalization was also accelerated during the pandemic to cushion against future disruptions in production and supply chain management. Once industries pick up again, the market for sulphuric acid is anticipated to stabilize, with growth paced by the rebound of fertilizer demand and industrial use. The long-term perspective remains optimistic as economic recovery and sustainability drive sulphuric acid use higher.

LATEST TREND

"Greater Emphasis on Clean and Sustainable Methods to Drive Market Growth"

One of the upcoming tendencies in sulphuric acid production is greater emphasis on clean and sustainable methods from an environmental perspective. More pressures from the environment put on sulphur dioxide emissions have seen more controls tighten, resulting in tighter controls, and there has been the call for industry to move to cleaner forms of production. Additionally, there has been the trend for the recycling of industrial waste stream sulphuric acid, lowering needs for new fresh acid manufacture. Among trends unfolding is increasing sulphuric acid demand in battery manufacturing, more so in electric vehicles (EVs). As the EV segment develops rather quickly, lead-acid and lithium battery demand increases, resulting in high-purity sulphuric acid demand. Additionally, catalyst technology advancements keep the production of sulphuric acid better, minimizing energy usage and emissions. The industry is also witnessing more investment in sulphur recovery units in oil refineries, making the supply chain sustainable.

SULPHURIC ACID MARKET SEGMENTATION

By Type

Based on Type, the global market can be categorized into Reagent Grade, Industrial Grade:

• Reagent Grade: Reagent-grade sulphuric acid is very pure and has applications in mostly laboratories, medicine, and fine chemical synthesis. It is found to be extremely important for the purposes of quality testing and research where purity or impurities impact results. The demand for such sulphuric acid is rising in semiconductor applications where highly purified chemicals are a necessity. Moreover, reagent-grade sulphuric acid has applications in pharma manufacturing as a part of drug formulation wherein regulatory standards of high severity are required. Its growth is contributed by growing R&D efforts in the health care and chemical sectors. But its high price relative to industrial-grade acid restrains its mass utilization.

• Industrial Grade: Industrial-strength sulphuric acid is found in bulk usage, such as fertilizer production, petroleum refining, and wastewater treatment. This sector leads the market because of extensive use in agriculture for phosphate fertilizers. It is also a requirement in metal processing, in which it is utilized for cleaning and pickling.

By Application

Based on application, the global market can be categorized into Metallurgical, Oil, Fertilizer, Other

• Metallurgical: Sulphuric acid is a significant metallurgical chemical primarily in metal refinement and extraction. Sulphuric acid finds application in metal leaching copper and uranium out of ores with hydrometallurgical processes. Steel production also utilizes sulphuric acid for pickling, where it removes the oxidation and contamination from metal surfaces. The escalating demand for metal in construction activities, electronics, and renewable energies is driving growth in this category. Besides, improvement of recovery and metal recycling is continually expanding applications for sulphuric acid for cleaner metal treatment.

• Oil: Sulphuric acid has gigantic applications in the petroleum industry, i.e., refining crude and processing petroleum fuels. Sulphuric acid is employed in alkylation of gasoline to improve its octane level and thereby render it cleaner fuel. Sulphuric acid is applied in refining impurities like sulfur compounds, emissions reduction, and quality of fuel. Demand for low-sulfur fuels is also on the rise due to stringent environmental regulations, thereby growing the application of sulphuric acid in oil refining. The acid is used in lubricants and specialty petroleum products, thus enhancing usage. The increased energy requirements globally are forcing refinery operation to be driven to the limit in a bid to use it at maximum capacity, thus increasing demand for sulphuric acid. Apart from it, acid recovery technology also makes it cleaner to employ. As the world is acquiring cleaner fuels, sulphuric acid is still ruling the oil industry and in line with modified fuel mixes. (150 words)

• Fertilizer: These are needed for soil fertility and higher yield. Sulphuric acid is used to treat raw phosphate rock to soluble compounds so plants will release the nutrients. Farmers are employing fertilizers with growing food demand all over the world to enhance crop yield, hence demand for sulphuric acid. Governments all over the world are encouraging the use of fertilizers by giving subsidies and laws to address food security requirements. Advances in fertilizer composition technology are also enhancing their efficiency and lesser environmental degradation. Greater precision farming and green agriculture practices are also influencing sulphuric acid demand. Despite that, there remain problems in the form of volatile raw material prices and environmental problems associated with acid runoff. Despite all these, however, the fertilizer industry will be the biggest growth driver for sulphuric acid markets globally.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions.

Driving Factors

"Rise in Demand for Fertilizers to Boost the Market"

One of the major promoters for sulphuric acid market growth is the increased demand for increased farm yields. Fertilizer manufacture, an essential input to improve land and crop output, contains sulphuric acid as a major component. It is increasingly becoming more favorable for farmers to apply the use of fertilizers with the global food demand escalating, thereby promoting heightened demand for sulphuric acid. Complementary to it, urbanization and population growth are decreasing the arable lands, thus efficient agriculture is essential. Fertilizer consumption is also being promoted by governments worldwide to achieve better food security, hence further driving market development.

"Growing Applications in Battery Manufacturing to Expand the Market"

Increased demand for battery manufacturing sulphuric acid comes mainly due to increasing demand for electric vehicles and renewable energy storage devices. Sulphuric acid used as an electrolyte in lead-acid batteries extensively used as an energy storage vehicle, industrial, and standby power system has been the largest driver of demand for demand growth during recent years. With more production of EVs, hybrid vehicles, and solar and wind energy systems, there is a greater demand for effective battery storage, hence the demand for sulphuric acid. Lead-acid batteries are also used in telecommunication and power backup systems, hence its applications. Battery recycling is also becoming more effective as well, with greater recovery and re-use of sulphuric acid, hence becoming more eco-friendly. Besides, technology related to batteries is also improving to enhance efficiency and durability of the battery and thereby increase the usage of sulphuric acid in energy storage products as well. With the trend of going renewable, the global market for sulphuric acid will also improve in the field of the battery industry.

Restraining Factor

"Tight Environmental Regulations to Potentially Impede Market Growth"

Tight environmental regulations on emissions and treatment are the largest concern of the sulphuric acid business. Sulphuric acid production releases sulphur dioxide, a gigantic pollutant and the cause of acid rain. Governments across the globe have enacted strict regulations to cap emissions, making production costly for manufacturers to meet. Apart from that, safe handling and transportation of sulphuric acid require specialized equipment, which makes it costly to run. These regulatory problems may deter markets to expand, particularly in the very highly regulated markets.

Opportunity

"Growing Application in Wastewater Treatment to Create Opportunity for the Product in the Market"

Increasing stress on the sustainability of the environment is pushing application of sulphuric acid towards water treatment. It is employed extensively to neutralize effluent alkaline, to induce heavy metal precipitation, and to treat industrial wastewater and regulate its pH levels. Industrially applied sulphuric acid treatment technologies are becoming important for industries for meeting discharge quality standards with increased industrialization coupled with stringent regulation of the environment. Along with that, wastewater treatment facilities are spreading their reach to counter the growing issue of urbanization and water pollution issues. With governments imposing stringent regulations on the discharge of wastewater in greater frequency, use of sulphuric acid in efficient water treatment procedures is becoming even more necessary, presenting enormous potential for market growth.

Challenge

"Unstable Raw Material Prices Could Be a Potential Challenge for Market"

The sulphuric acid business has volatile prices of raw materials, i.e., oil and elemental sulphur. Being an oil refinery by-product, sulphuric acid price directly impacts production cost and sulphuric acid availability. Causes of volatility include world economic trends, political unrest, and disruptions in the supply chain. Demand-based price fluctuation due to the industry also influences price movement. To counter these threats, firms are concentrating on alternative production processes as well as sulphur recovery technology. Fluctuating raw material prices continue to be the largest challenge for the sulphuric acid industry, however.

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SULPHURIC ACID MARKET REGIONAL INSIGHTS

• North America

North America is a prominent market for sulphuric acid, and the lead role falls on the United States Sulphuric Acid market both in production and consumption. The industrialized economy of the continent, underpinned by agriculture, mining, and the production of chemicals, is to blame for spearheading demand for sulphuric acid. The production of fertilizers ranks high among applications since North America experiences extensive farming relying on phosphate fertilizers. Sulphuric acid finds applications in metal extraction from the mining industry, e.g., copper and uranium. Advances in technology in acid manufacturing, e.g., better sulphur recovery units at refineries, are increasing efficiency and lowering environmental footprint. The growing focus on sustainable industrial processes and environmental compliance is driving market change. Second, consumption of sulphuric acid for the purpose of wastewater treatment and battery manufacture is gaining ground thanks to sound environment policies, besides switch-over towards electric vehicles (EVs). Although emission regulation by regulations obstructs in a way, lesser environmental-harming technologies for manufacture are curbing environmental influences. Overall, demand for sulphuric acid in North America will increase in small increments.

• Europe

Europe's sulphuric acid industry is governed by robust environmental controls and increasing need for environmentally compliant industrial solutions. Sulphur emissions in the region are heavily controlled, which prompted companies to undertake cleaner production practices through adopting technologies that produce sulphur emissions much less. Cutting-edge sulphur recovery technology by chemical plants and refineries is neutralizing environment pressure while a consistent sulphuric acid supply is ensured. The automobile industry is an important market with sulphuric acid being used in the manufacturing of batteries and automobiles. Also, Europe's thriving chemical market relies on sulphuric acid for various applications, from medicine, dyes, and chemicals to industrial purposes. The agriculture sector also contributes to the growth of the market as European agriculturists use fertilizers for increased yields. Farm industry producers, however, face issues brought about by increasing regulatory challenges on industrial discharges and dealing with hazardous chemicals. To maintain competitiveness, companies are spending money on research and development to produce high-purity and eco-friendly sulphuric acid. With sustainability initiatives growing, the European market is most likely to change towards greener options.

• Asia

Asia is the globe's largest market for sulphuric acid, while India and China are its largest consumers. High-speed industrialization, urbanization, and agriculture growth are the drivers of demand in the region. Sulphuric acid depends heavily on the fertilizer industry to produce phosphate fertilizers because agriculture is a strongly contributing industry in nations such as India. Furthermore, Chinese manufacturing dominance needs sulphuric acid to process metal, chemicals, and batteries. The development of electric vehicles in Asia is similarly boosting demand in lead-acid battery manufacturing for sulphuric acid. Expansion in wastewater management and environmental issues is also triggering market growth. Environmental concerns surrounding acid emissions and handling, on the other hand, are setting governments to place stricter regulations and forcing companies to adopt cleaner manufacturing technologies. Despite disruption, increasing Asia-Pacific industrial and agricultural activity will continue to drive sulphuric acid consumption to be the key regional market over the next two to three years.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market Through Innovation and Market Expansion"

Leaders in the sulphuric acid market are driving growth by driving technology innovation, strategic growth, and sustainability efforts. Leaders in the market like Cytec Industries, Chevron, DuPont, Solvay, Honeywell, Evonik Industries, Bayer, Agrium, and Akzo Nobel are investing heavily in clean production technology to keep up with harsher environmental regulations. Others are creating highly advanced sulphur recovery systems for refineries, more efficient with no extra emissions. Moreover, enterprises are also adding extensions to production plants to tackle the growing needs of industries like fertilizers, mines, and battery production. Joint ventures and partnerships are further remodeling the industry with enterprises venturing into partnering together to join production lines as well as setting up distribution lines. Further, top players are gearing towards recycling industrial waste-derived sulphuric acid to pursue the culture of a circular economy. With the corporations turning green and choosing sustainable substitutes, these firms keep innovating, delivering a consistent line of sulphuric acid of high quality with an increasingly reduced impact on the environment without losing their competitive advantage in the international market.

List of Top Sulphuric Acid Companies

• Cytec Industries (U.S.)
• Chevron (U.S.)
• DuPont (U.S.)
• Solvay (Belgium)
• Honeywell (U.S.)
• Evonik Industries (Germany)
• Bayer (Germany)
• Agrium (Canada)
• Akzo Nobel (Netherlands)

KEY INDUSTRY DEVELOPMENTS

January 2024: DuPont has undertaken massive expansion of its sulphuric acid manufacturing plants to cater to rising demand from huge industries like fertilizers, mining, and battery production. DuPont has invested in cutting-edge manufacturing technology as a bid to make it more efficient and less polluting in the context of global sustainability goals. The expanded capacity is aimed at satisfying growing demand for high-purity sulphuric acid, particularly in the expanding electric vehicle (EV) sector, where it's used in the production of lead-acid batteries. This increased production capability in its facilities makes DuPont a quality producer once again and provides a sustainable and safe source of sulphuric acid. The decision is also to address the company's mission to lower its carbon footprint through enhanced sulphur recovery and recycling technology. The technology is a necessary step toward industry requirements and addressing changing environmental regulation, further entrenching DuPont as the world leader in the sulphuric acid sector.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis considers both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.