Global Sulfuric Acid Market: Country Overview; Recent Events; Value Chain Analysis; Production Process; Price Analysis; Indicator Analysis; Market Dynamics: Drivers & Constraints, Innovations & Trends, SWOT Analysis, Porter’s Five Forces; Industry Best Practices: Sourcing Strategy, Procurement Model, Key Factors Influencing the Quotation; Key Supplier Analysis, 2023-2028

Sulfuric Acid Market Outlook

The global Sulfuric Acid Market size was valued at a production volume of approximately 288.67 MMT in the base year of 2021. In 2027, the global Sulfuric Acid market share is likely to attain a volume of around 315.67 MMT. The progress of the market throughout the projected years between 2022-2027 will be increasing at a CAGR of 1.5%.

The rising usage of sulfuric acid in numerous end-user applications like fertilisers, chemical manufacture, metal processing, petroleum refining, the textile sector, automobiles, and pulp and paper is propelling the global Sulfuric Acid market development.

In the projected global Sulfuric Acid market of 2022-2027, the Asia Pacific (45%) region is likely to lead the demand growth globally.

Recent Updates on the Global Sulfuric Acid Market

21 Aug 2022- Sulfur scarcity is about to become a potential resource crisis as decarbonisation advances. The anticipated deficiency of a critical chemical in the market can hamper the advancement of green technology and risk global food security.

August 18, 2022- Yara invested in Sabanto Ag, an upcoming giant in independent agrarian equipment division. They deliver software solutions to efficiently execute unmanned agriculture functions and retrofit kits for existing tractors. The venture will expand Yara's portfolio into the critical areas of autonomy in agriculture and farming equipment.

August 17, 2022- a Heads of Agreement (HoA) was signed between the global petroleum giant ExxonMobil and Oil & Natural Gas Corpn for Deepwater exploration on India's Eastern and Western coasts. The focal areas of the collaboration are Cauvery Basins and the Krishna Godavari.

Product Definition and Market Segmentation

Sulfuric acid or sulphuric acid, commonly called as oil of vitriol in antiquity, is a inorganic acid made up of the components sulphur, oxygen, and hydrogen. It is a colourless, unscented, gelatinous liquid that is mixable with water. It's used to manufacture fertilisers and other chemicals in petroleum refining, iron and steel manufacturing, and various other applications.

The global Sulfuric Acid market research is based on end use i.e., fertilizers and chemicals.

On a regional scale the global Sulfuric Acid market is segmented into Asia Pacific, Latin America, North America, Africa, Europe, and the Middle East.

Yara International, Chevron Phillips, ExxonMobil, Formosa Plastics Corp., and CF Industries are the essential companies creating global Sulfuric Acid market opportunity.

Asia Pacific (45%) Regions are Driving the Growth of the Market

The global Sulfuric Acid market in Asia Pacific (45%) is the dominant region in the global sulfuric market, expanding rapidly. The region has the most significant sulfuric acid production due to the high demand among the industrial uses of the acid in the chemical and manufacturing industries. The countries like China, India, and Japan are propelling at a fast rate. China, among the following, is the most significant consumer of sulfuric acid.

Category Management Studies

The global Sulfuric Acid market Analysis consists of the contact technique that generates sulphuric acid from sulphur, oxygen, and water. In the initial stage sulphur is incinerated to produce sulphur dioxide. In the presence of a vanadium(V) oxide catalyst, this is then oxidised to sulphur trioxide. Finally, the sulphur trioxide is processed with water to generate 98-99 percent sulfuric acid (97-98 percent H2SO4 with 2-3 percent water). Due to the highly heat-releasing property of the reaction, completely dissipating SO3 in water is unviable. As an alternative of a liquid, mist is created. On the other hand, the SO3 can be immersed with H2SO4 to create oleum (H2S2O7), that can be reduced to generate sulfuric acid. Once oleum responds to water, it delivers intense H2SO4.

Wide Range of Applications Boosting the Global Sulfuric Acid market

The acid is employed in various concentrations for producing drugs, fertilizers, dyes, detergents, explosives, acids, inorganic salts, and pigments for refining petroleum and metallurgical processes. It is also used as an electrolyte in lead–acid storage batteries, which is driving the global Sulfuric Acid market growth rate.

The commodity's primary application is in producing fertilizers like ammonium sulfate and superphosphate of lime. It is used to make chemicals such as sulfate salts, hydrochloric acid, and nitric acid. It also finds application in metal processing like plating steel before zinc or tin and pickling (cleaning) iron.

It is also utilised in analysis and lab testing, paper production, and rayon textile manufacturing. As a result of the wide range of applications of the acid is bolstering the global Sulfuric Acid market demand.

Asia Pacific, Latin America, North America, Africa, Europe, and the Middle East are the key areas focused on in the market report.

Global Sulfuric Acid market Key Players

  • Chevron Phillips
  • Yara International
  • Formosa Plastics Corp.
  • ExxonMobil
  • CF Industries

Competitive Market Landscape

Chevron Phillips- Chevron Phillips or Chevron Phillips Chemical Company LLC paired with Phillips 66 is a 50-50 equal partnership. They produce essential chemicals used in more than 70,000 industrial and consumer products. The product range comprises aromatics, piping, plastics, olefins and polyolefins, speciality chemicals, and styrenics. They are employed in manufacturing biodegradable solvents, food packaging, and cleaner fuels, among others.

Yara International- Yara International ASA is a chemical company based in Norwegia. It manufactures, supplies, and markets mineral fertilisers and associated industrial products that are nitrogen-based. Their product range also comprises complex and speciality mineral fertilisers, potash-based mineral fertilisers, phosphate etc.

Formosa Plastics Corp.- Formosa Plastics Corporation is an expanding supplier of petrochemicals and plastic resins with a vertically integrated business model. They employ more than 3,000 employees operating in over 20 production units in 5 market divisions, including Specialty Polyvinyl Chloride, Polyolefins, Chlor-Alkali, Olefins, and Vinyl. They also manufacture and supply commercial bleach, ethylene dichloride, caustic soda, and hydrochloric acid.

ExxonMobil- ExxonMobil is a publicly traded significant manufacturer of chemicals and energy provider that creates and employs the latest technology to assist a safe and responsible completion of the growing energy and good-grade chemical products globally.

CF Industries- CF Industries aim to supply clean and sustainable energy. They are on a journey to decarbonize their ammonia production network to facilitate the use of green and blue hydrogen and nitrogen products for emissions reduction, fuel, fertilizer, and other industrial applications. They have nine manufacturing complexes in Canada, the United States, and the United Kingdom.

1.    Executive Summary
2.    Sulfuric Acid Market Snapshot

    2.1.    Sulfuric Acid Market Outlook
    2.2.    Sulfuric Acid Category Analysis by Raw Material
        2.2.1.     Pyrite Ore
        2.2.2.     Elemental Sulfur
        2.2.3.     Others
    2.3.    Sulfuric Acid Category Analysis by Form
        2.3.1.    Concentrated (98%)
        2.3.2.    Tower/Glover Acid (77.67%)
        2.3.3.    Chamber/Fertilizer Acid (62.8%)
        2.3.4.    Battery Acid (33.5%)
        2.3.5.    66 Degree Baume Sulfuric Acid (93%)
        2.3.6.    Dilute Sulfuric Acid (10%)
    2.4.    Sulfuric Acid Category Analysis by End Use Industry
        2.4.1.     Fertilizer
        2.4.2.    Chemical and Pharmaceutical
        2.4.3.    Automotive
        2.4.4.    Petroleum Refining
        2.4.5.    Others
    2.5.    Regional Overview
        2.5.1.    North America
        2.5.2.    Europe
        2.5.3.    Asia Pacific 
        2.5.4.    Latin America
        2.5.5.    Middle East and Africa
3.    Impact of Recent Events
4.    Sulfuric Acid Value Chain Analysis
5.    Sulfuric Acid Production Process
6.    Trade Analysis
7.    Major Risk Factors in Sourcing
8.    Sulfuric Acid Cost Structure
9.    Sulfuric Acid Price Analysis
10.    Key Demand Indicator Analysis
11.    Key Price Indicator Analysis
12.    Sulfuric Acid Market Dynamics

    12.1.    Drivers & Constraints
    12.2.    Industry Events 
    12.3.    Innovations & Trends
    12.4.    SWOT Analysis
    12.5.    Porter’s Five Forces
        12.5.1.    Buyer Power
        12.5.2.    Supplier Power
        12.5.3.    Threat of New entrants
        12.5.4.    Threat of Substitutes
        12.5.5.    Industry Rivalry
13.    Feedstock Market Analysis
    13.1.    Market Overview
    13.2.    Price Analysis
14.    Industry Best Practices
    14.1.    Sourcing Strategy
    14.2.    Procurement Model
    14.3.    Contract Structure
    14.4.    Negotiation Levers
    14.5.    Pricing Model
    14.6.    Key Factors Influencing the Quotation 
15.    Key Supplier Analysis
    15.1.    Aarti Industries Ltd.
    15.2.    Aurubis AG
    15.3.    BASF SE
    15.4.    Boliden AB
    15.5.    Brenntag SE 
    15.6.    Lanxess AG

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Key Questions Answered in the Report

288.67 MMT is the total volume accumulated by the global Sulfuric Acid market.

The anticipated market volume for the forecast year is 315.67 MMT.

The Fertilizers segment is dominating the global Sulfuric Acid market trend.

The global Sulfuric Acid market Forecast is advancing at a CAGR of 1.5%.

The Sulfuric Acid market in Asia Pacific (45%) region holds a major share in the market’s development.

Analyst Review

The global Sulfuric Acid Market attained a value of 288.67 MMT in 2021, driven by the application of the acid in the production of fertilisers. Aided by the growing employment in a wide range of industries such as pharmaceuticals, chemical processing, automotive, paper and pulp, the market is expected to witness further growth in the forecast period of 2022-2027, a CAGR of 1.5%. The market is projected to reach 315.67 MMT by 2027.

Procurement Resources’ detailed research approach explores deep into the industry, encompassing the macro and micro aspects of the industry. Its team of experts uses a combination of cutting-edge analytical tools and their expertise thus, delivering its customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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