Rising demand for sulfuric acid from fertilizer and downstream chemicals is a key factor driving sulfuric acid market revenue growth

VANCOUVER, BRITISH COLUMBIA, CANADA, May 18, 2023 /EINPresswire.com/ -- The global sulfuric acid market size was USD 13.52 Billion in 2022 and is expected to register a steady revenue CAGR of 11.9% during the forecast period, according to latest analysis by Emergen Research. Rising demand for sulfuric acid from fertilizer and downstream chemicals is the key factor driving market revenue growth. Sulfuric acid is a strong mineral acid composed of elements such as sulfur, oxygen, and hydrogen, which is used across various industries to produce other chemicals, explosives, and glue for curing metal and refining petroleum.

This acid is used in the pulp and paper industry to generate chlorine dioxide and adjust potential of Hydrogen (pH). Fertilizers, such as nitrogen, phosphorus, and potassium, are used by farmers across the globe to improve quality and yield of their fruit and vegetable crops. Farmers can effectively add nitrogen and phosphorus to soil using fertilizers such as Monoammonium Phosphate (MAP) and Diammonium Phosphate (DAP).

Both MAP and DAP are made using sulfuric acid, which is then combined with phosphate rock to produce phosphate. According to the International Fertilizer Association (IFA), global fertilizer used in 2020-21 was estimated to be 198.2 Million Metric Tons (mmt), nearly 10 mmt or 5.2% higher than in 2019-20. This was the most significant increase since 2010-11. In the recent years, rising adoption of fertilizers is creating high demand for sulfuric acid.

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Market Overview:

The report bifurcates the Sulfuric Acid Market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.

Competitive Terrain:

The global Sulfuric Acid Market industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.

Some Key Highlights from the Report
The pyrite ore segment is expected to register steadily fast revenue growth rate in the global sulfuric acid market over the forecast period. This is due to high demand for pyrite ore as a material in production of sulfuric acid in the chemical sector.

Sulfuric acid is created by burning pyrite ores, although the primary source of sulfuric acid is combustion of elemental sulfur. While, roasting method appears to be an alternative for sulfuric acid synthesis when pyrite concentrate is available.

The chemical manufacturing segment is expected to register considerably fast revenue growth rate in the global sulfuric acid market over the forecast period.

Sulfuric acid is the most important product in the chemical industry. Immensely important chemical compound sulfuric acid is used to produce a range of chemicals such as nitric acid, hydrochloric acid, phosphoric acid, and many other industrial chemicals.

The constant efforts of prominent players to develop newer and modern technologies and product advancements are expected to drive the growth of the industry over the coming years. The report studies the extensive business expansion plans and advancements in R&D activities and product portfolio. The report offers a clear understanding of the alliances in the market, such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches and brand promotions, and corporate deals.

The report also discusses the key players involved in the market such as

BASF SE, DuPont, Akzo Nobel N.V., PVS Chemical Solution, Aurubis AG, Nutrien Ltd., Olin Corporation, Westlake Corporation, Chemtrade Logistics, and OCP Group

Key insights presented in the report:

Market revenue splits by significant industry participants, by product type, by application, and market size for sulfuric acid worldwide

Key players and new entrants’ sales revenue

Analysis of the key companies’ competitive landscape, including information on company profiles, product or service specifications, vendors, and customers.

Recent acquisitions, joint ventures, product launches, and investments

Regional research to reveal current trends and prospects

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The research also includes analyses of the upstream raw materials, downstream purchasers, and the entire value chain. Global patterns, legislative frameworks, and macro- and microeconomic issues are the study’s main areas of attention. The sector and sub-segments anticipated to control the market over the anticipated period are also extensively analysed in the report. Regarding the analysis of market segmentation, including product type, end-user industries, application spectrum, and other sectors, the report provides a forecast assessment of the market.

Sulfuric Acid Market Segmentation:

Application Outlook (Revenue, USD Billion; 2019-2032)
Fertilizers

Metal Processing

Chemical Manufacturing

Textile Industry

Automotive

Paper & Pulp

Petroleum Refining

Others

Regional Outlook (Revenue, USD Billion; 2019–2032)
North America

U.S.

Canada

Mexico

Europe

Germany

France

UK

Italy

Spain

Benelux

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

The report focuses on current and future market growth, technological advancements, volume, raw materials, and profiles of the key companies involved in the market. The report provides valuable insights to the stakeholders, investors, product managers, marketing executives, and other industry professionals.

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Thank you for reading our report. Please get in touch with us if you have any query regarding the report or its customization. Our team will ensure the report is best suited to your needs.

Table of Content
Chapter 1. Methodology & Sources

1.1. Market Definition

1.2. Research Scope

1.3. Methodology

1.4. Research Sources

1.4.1. Primary

1.4.2. Secondary

1.4.3. Paid Sources

1.5. Market Estimation Technique

Chapter 2. Executive Summary

2.1. Summary Snapshot, 2023–2032

Chapter 3. Key Insights

Chapter 4. Sulfuric Acid Market Segmentation & Impact Analysis

4.1. Sulfuric Acid Market Segmentation Analysis

4.2. Industrial Outlook

SECONDARY RESEARCH MODEL
Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources, annual report of companies, SEC filings, government press release, pricing databases and many more.

A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are referred thoroughly to have a comprehensive idea of the market taxonomy.

PRIMARY RESEARCH MODEL
Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts. Discussions with the subject matter experts were conducted to obtain quantitative and qualitative information and validate our market research findings.

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Why Choose Emergen Research :

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Eric Lee
Emergen Research
+91 90210 91709
sales@emergenresearch.com
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