Sulfuric Acid Market Reaches $14,414.40 Million in 2022, Eyes 5.5% CAGR Progression for 2024–2031

Sulfuric Acid Market

The Sulfuric Acid Market has demonstrated resilience, boasting a valuation of $14,414.40 million in 2022, and is projected to maintain a steady growth trajectory with a Compound Annual Growth Rate (CAGR) of 5.5% over the forecast period.

Sulfuric Acid Market

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Market Dynamics

Sulfuric acid plays a critical role in the production of various chemicals, including fertilizers such as phosphoric acid and ammonium sulfate, detergents, dyes, and pigments. The expansion of the chemical manufacturing industry significantly impacts the demand for sulfuric acid. Additionally, its essential role in mining and metallurgical processes, particularly in extracting metals like copper, nickel, and uranium, further drives market demand.

Impact on the Automotive Industry

Within the automotive sector, sulfuric acid finds application in lead-acid batteries, which remain prevalent in many vehicles. With the automotive industry’s expansion and the growing demand for electric vehicles equipped with lithium-ion batteries, the sulfuric acid market is expected to witness growth driven by battery production.

Application Overview

The sulfuric acid market is segmented by application, including fertilizers, automotive, textile industry, and others. The fertilizers segment held the largest share in 2022 due to sulfuric acid’s role in manufacturing phosphate fertilizers essential for plant growth. As global agricultural practices intensify to meet the increasing demand for food and feed crops, the demand for phosphate fertilizers rises, thereby boosting the demand for sulfuric acid.

Regional Perspectives

The Asia-Pacific region has emerged as the primary market for sulfuric acid in 2022, fueled by countries like China and India, where agriculture serves as a cornerstone of the economy. These nations heavily rely on sulfuric acid for fertilizer production, particularly phosphate-based fertilizers, to enhance agricultural productivity and sustain their growing populations.

Furthermore, rapid industrialization and urbanization in major Asia-Pacific countries drive increased demand for sulfuric acid across various applications, including chemicals, mining, metallurgy, and wastewater treatment. The region’s robust economic growth, coupled with a commitment to environmental sustainability, underscores its pivotal role in propelling the sulfuric acid market’s growth.

Key Companies Profiled: Trident Limited, India, Boliden Group, Pursuit Industries Pvt., kakdiya chemicals, Avantor, INEOS, Bodal Chemicals Ltd., TIB Chemicals AG and Aarti Industries Ltd.,

Global Sulfuric Acid Market, Report Segmentation

Sulfuric Acid Market, By Raw Material

• Elemental Sulfur
• Pyrite Ore
• Base Metal Smelters

Sulfuric Acid Market, By Application

• Fertilizers
• Automotive
• Textile Industry
• Others

Sulfuric Acid Market, Regional Outlook

North America

• U.S.
• Canada
• Mexico

Europe

• Germany
• UK
• Spain
• Russia
• France
• Italy

Asia Pacific

• China
• Japan
• India
• South Korea
• Australia

CSA

• Brazil
• Argentina

MEA

• UAE
• Saudi Arabia
• South Africa

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