Sulfuric Acid Market size is estimated to reach ~USD 90 Billion by the end of 2035 by growing at a CAGR of ~14.70% over the forecast period, i.e., 2023 – 2035. In addition to this, in the year 2022, the market size of sulfuric acid was ~USD 17 Billion. The growth of the market can be attributed to the increasing usage of sulfuric acid in the agriculture sector and in the manufacturing processes of various chemicals. There are significant quantities of sulphuric acid used for the production of fertilizers such as ammonium sulfate and superphosphate. Many pesticides use sulfuric acid as raw materials such as copper sulfate and zinc sulfate to act as fungicides for plants, and ferrous sulfate and copper sulfate as herbicides. A major end-user market for sulfuric acid, accounting for more than 60 % of total worldwide consumption in 2020, is the production of fertilizers, especially phosphate fertilizers from the wet process of phosphoric acid. These factors are anticipated to contribute to the growth of the market.
In addition to these, factors that are believed to fuel the sulfuric acid market growth include the rise in the use of sulfuric acid in the automotive industry. Increasing usage of sulfuric acid in car batteries is yet another factor contributing to the growth of the market. Sulfuric acid acts as an electrolyte in car batteries. H2SO4 is formed when sulphuric acid and water are mixed. The compound has a strong electrolytic quality and can be used to generate electricity. The H+ ions will move on the neutral electrode and SO42 ions to the positive electrode after the application of a voltage to the solution. An electric current can be derived from this, helping to drive the vehicle. Reports cite that over 100 million car batteries are replaced in the USA alone in a year. These factors are estimated to boost the market.
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~14.70% |
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Base Year Market Size (2022) |
~ USD 17 Billion |
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Forecast Year Market Size (2035) |
~ USD 90 Billion |
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Regional Scope |
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Growth Drivers
Challenges
The sulfuric acid market is segmented and analyzed for demand and supply by raw material into elemental sulfur, base metal smelters, and pyrite ore. Out of the three types of sulfuric acid, the elemental sulfur segment is estimated to gain the largest market share of about ~35% in the year 2035. The growth of the segment can be attributed to the fewer pollution rates of elemental sulfur when compared to base metal smelters and pyrite ores. A large number of undertakings have adopted stringent measures to treat sulfur gas emissions before releasing them into the atmosphere, with a view to limiting or reducing the environmental pollution. Increasing development activities, like improving the capacity of businesses to produce sulfuric acid products that are manufactured from organic sulfur. Further, the massive rate of elemental sulfur and a ban on sulfur mining are also anticipated to boost the growth of the segment. In 2022, China became the World’s leading sulfur producer by manufacturing over 18 million tons of sulfur. All these factors are estimated to contribute to the growth of the segment.
The global sulfuric acid market is also segmented and analyzed for demand and supply by application into fertilizer, chemical manufacturing, metal processing, petroleum refining, textile industry, and automotive. Amongst these six segments, the fertilizer segment is expected to garner a significant share of around ~38% in the year 2035. The market is likely to benefit from increased demand for better quality crops and an increase in population around the world over the coming years. Rapid development and urbanization are resulting in the decreasing arable land, which has led farmers to resort to fertilizers for increasing crop yields. Market growth is projected to be stimulated by the growing use of H2SO4 as a producer of quality fertilizers for agriculture, thereby increasing production capacity. The production of contaminated sulphuric acid, which results in the regeneration of pure and concentrated H2SO4, is mainly carried out by petroleum and chemical refineries. The regenerated acids are emission low and making them sustainable and environmentally friendly, which leads to a reduction in production costs. This, as a result, is anticipated to create numerous opportunities for the growth of the segment in the coming years.
Our in-depth analysis of the global sulfuric acid market includes the following segments:
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By Raw Material |
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By Application |
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Sulfuric acid market share in Asia Pacific, amongst the market in all the other regions, is projected to be the largest with a share of about ~46% by the end of 2035. The growth of the market can be attributed majorly to the increasing production of sulfur in the region. For instance, in 2022, China produced over 18 million tons of sulfur owing to the reduction in sulfur mining and increased demand from various sectors. Further, the rising demand for sulfuric acid from the Philippines and Indonesia is also expected to contribute to the growth of the market. The market will be expected to increase over the next years, as phosphate fertilizer production becomes more and more of a necessity in view of growing demand from the fertilizer sector and strict environmental regulations on the manufacture of environmentally friendly products. The growth of the Chinese market is expected to be driven by growing demand in industry and phosphoric acid, as a result of increased crop cultivation and better yields. In addition, the region's population growth and demand for food are also anticipated to boost market growth during the forecast period.
The North American sulfuric acid market is estimated to be the second largest, registering a share of about ~24% by the end of 2035. The growth of the market can be attributed majorly to the increasing fertilizer demand in the region. The main producers of sulfur were countries such as the United States and Canada. It is estimated that the market would benefit from a rise in consumer awareness of hygiene. Moreover, the global market is strengthening as more and more detergents are used. In order to allow for electrons between the batteries' plates, sulfuric acid is used as an electrolyte in a dilute form also known as battery acid. All these factors are anticipated to contribute to the market growth of the region. Further, the presence of supportive policies by the regulatory bodies that promote the market players to opt for further sulfur production.
Further, the Europe sulfuric acid market, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to the increasing demand for sulfuric acid in a variety of industries in countries like Germany, France, and the United Kingdom. The opportunities for the European market are generated in developing countries through a strong network of distributors, including multi-brand stores and online retailers. Germany's market for sulfuric acid is dominant, with France and the United Kingdom taking second place. These factors are estimated to contribute to the growth of the market.
Author Credits: Smruti Ranjan, Rajrani Baghel
Ans: Increasing demand for sulfuric acid from various sectors such as agriculture, chemical manufacturing, fertilizer, and others are the major factors driving the market growth.
Ans: The market size of sulfuric acid is anticipated to attain a CAGR of ~14.70% over the forecast period, i.e., 2023 – 2035.
Ans: Environmental concerns about using sulfuric acid and sudden hikes in prices are estimated to be the growth-hindering factors for market expansion.
Ans: The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Ans: The major players in the market are Mosaic Company, PotashCorp, Groupe Chimique Tunisien, Maaden - Saudi Arabian Mining Company, OCP Group, PVS Chemicals, Aurubis, Chemtrade Logistics Income Fund, BASF SE, Akzonoble N.V.,
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue-generating capacity, and the new products being launched into the market by the company.
Ans: The market is segmented by raw material, application, and region.
Ans: The elemental sulfur segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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