The Worldwide Sulfuric Acid Industry is Projected to Reach $28.5 Billion by 2027 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Sulfuric Acid Market by Raw Material (Elemental Sulfur, Base Metal Smelters, Pyrite Ore), Application (Fertilizers, Chemical Manufacturing, Metal Processing, Petroleum Refining, Textile Industry, and Automotive) and Region – Global Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.

The global sulfuric acid market is projected to grow from USD 13.2 billion in 2020 to USD 28.5 billion by 2027, at a CAGR of 11.7% during the forecast period. Steady demand for sulfuric acid is also witnessed due to its diversified applications, such as fertilizer manufacturing, metal ore leaching, and oil refining.

Pyrite ore is expected to grow at the highest CAGR during the forecast period, by volume

Sulfuric acid is produced through roasting of pyrite ores. Although the burning of elemental sulfur is the main source of sulfuric acid, the roasting process comes across as an alternative for sulfuric acid production when pyrite concentrate is available. Growing usage of sulfuric acid in various application is expected to drive the growth of pyrite ore segment during the forecast period of 2022 to 2027.

Fertilizers application is expected to be the largest segment during the forecast period, by volume

Sulfuric acid is widely used to produce phosphate fertilizers which help in making the soil rich in phosphorus, an important nutrient vital for crop growth. Also, the need to increase crop production due to the increasing population and decrease in arable land in Asia Pacific and the Middle Eastern regions are driving the demand for sulfuric acid in the fertilizers industry.

Asia Pacific region is expected to grow at the highest CAGR during the forecast period, by volume

The major economies of the Asia Pacific region contributing significantly to the growth of the sulfuric acid market are China, Japan, India, Indonesia, and South Korea. The region has emerged as an important consumer of specialty wet chemicals due to the increasing demand from the domestic front, aided by rise in the standard of living of the people and disposable income. This further increases the growth of sulfuric acid market in Asia Pacific.

Market Dynamics

Drivers

• Strong Demand for Sulfuric Acid in Various Industries
• Increased Usage of Sulfuric Acid in Agriculture Sector

Restraints

• Restriction on Use of Sulfuric Acid Due to Health and Environmental Concerns
• High Import Duties and Regulations on Trade of Sulfuric Acid

Opportunities

• Increasing Use of Sulfuric Acid in Wastewater Treatment

Challenges

• Rapid Increase in Price
• Difficulties Associated with Transportation

Companies Mentioned

• Aurubis AG
• BASF SE
• Chemtrade Logistics Income Fund
• Elessent Clean Technologies, Inc.
• Groupe Chimique Tunisien SA (GCT)
• Industrias Basicas De Caldas
• KMG Chemicals, Inc.
• Lanxess AG
• Mitsubishi Shoji Chemical Corporation
• Nanjing Kapsom Engineering Limited
• Nouryon
• Nutrien AG Solutions, Inc.
• OCP Group
• Petroperu SA
• Phosagro
• PVS Chemicals, Inc.
• Qatar Acids Company
• The Mosaic Company
• Weylchem Group of Companies
• Acidos Y Minerales De Venezuela

For more information about this report visit https://www.researchandmarkets.com/r/7ykpcg

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