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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Sulphuric Acid Market Size
The global sulphuric acid market reached a volume of almost 297.40 million metric tons in 2023. The industry is further expected to grow at a CAGR of 1.5% between 2024 and 2032 to reach a value of almost 340.06 million metric tons by 2032.
The global sulphuric acid market is driven by the increase in the fertilizers and chemicals industry. The market is expected to be driven by the end-use sectors like the agriculture segment. The acid is used for producing phosphoric acid, and as a consequence, phosphate fertilizers, which are extensively used in the agricultural sector. The global sulphuric acid markets were well supplied in the period 2017-2018. The sulphuric acid market is predicted to remain oversupplied in the coming years. Thus, the market is expected to shift in the next two years towards the buyer's side.
The Asia Pacific region is the leading regional market for the product, accounting for 45% of the market share. In the Asia Pacific region, China is expected to drive the demand for sulphuric acid as the result of improved consumption by the phosphate industry. North America and Europe follow the Asia Pacific region as the other major markets for the acid, accounting for over a quarter of the industry share globally. North-East Asia is the major consumer of sulphuric acid, accounting for 37% of the total global consumption in the industry. North America and the Middle East and Africa are also significant consumers within the industry. The key producing regions include China, the United States, and India.
Sulphuric Acid Market Report Snapshots
Sulphuric Acid Market Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market attained a volume of approximately 297.40 million metric tonnes.
The market is projected to grow at a CAGR of 1.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about 340.06 million metric tonnes by 2032.
The major drivers of the market are increasing population, growth of the fertilisers industry, rising demand from developing regions, and increase in demand from end-use sectors such as agriculture.
The key market trends include the increase in the demand for electronic-grade sulphuric acid and rising applications of sulfuric acid in chemicals.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Fertilisers and chemicals, among others, are the leading applications of sulphuric acid in the market.
The major players in the global sulphuric acid market are INEOS Group, BASF SE, DuPont de Nemours, Inc. (NYSE: DD), PVS Chemicals, Inc., and Chung Hwa Chemical Industrial Works, Ltd., among others.
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