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Sulfuric Acid Market Size (2024 - 2029)

The sulfuric acid market is projected to experience growth over the forecast period, driven by its essential role in the chemical sector and high demand in phosphate-based fertilizers and the chemical and pharmaceutical industries. Despite challenges such as fluctuating raw material prices, the market's expansion is supported by opportunities in the use of oleum in medical and other sectors. The Asia-Pacific region leads in market consumption, with significant contributions from countries like China, India, and Japan.

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Market Size of Sulfuric Acid Industry

Sulfuric Acid Market Summary
Study Period 2019 - 2029
Market Volume (2024) 321.05 Million tons
Market Volume (2029) 387.24 Million tons
CAGR (2024 - 2029) 3.82 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Low

Major Players

Sulfuric Acid Market Major Players

*Disclaimer: Major Players sorted in no particular order

Sulfuric Acid Market Analysis

The Sulfuric Acid Market size is estimated at 321.05 Million tons in 2024, and is expected to reach 387.24 Million tons by 2029, growing at a CAGR of 3.82% during the forecast period (2024-2029).

The COVID-19 pandemic moderately affected the sulfuric acid market in 2020. The imposition of lockdowns across various countries and disruptions in supply affected the chemical sector. However, since sulfuric acid is among the primary chemicals used in the chemical sector, high demand is anticipated in the forecast period.

In the short term, the market study is being driven by the high demand for sulfuric acid in phosphate-based fertilizers and the growing demand from the chemical and pharmaceutical industries worldwide.

Conversely, changes in the prices of raw materials are likely to slow the growth of the sulfuric acid market in the coming years.

The growing use of oleum in medical and other industries can be seen as a major opportunity for the market.

The Asia-Pacific region dominated the sulfuric acid market globally, with the highest consumption coming from countries such as China, India, and Japan.

Sulfuric Acid Industry Segmentation

Sulfuric acid, denoted by the chemical formula H2SO4, is a potent and corrosive mineral acid. It is colorless, lacks an odor, and exhibits a thick liquid texture. This acid is recognized for its robust reactivity with numerous substances. Its widespread application extends to various industrial processes, showcasing its significance in diverse chemical reactions and manufacturing procedures. The vigorous nature of sulfuric acid reactions underscores its role as a crucial component in numerous industrial sectors.

The sulfuric acid market is segmented by raw material type, end-user industry, and geography. By raw material type, the market is segmented into elemental sulfur, pyrite ore, and other raw material types (metal sulfides, sulfur dioxide). By end-user industry, the market is segmented into fertilizer, chemical and pharmaceutical, automotive, petroleum refining, and other end-user industries (pulp and paper, metal processing). The report also covers the market size and forecasts for the sulfuric acid market in 27 countries across major regions. 

For each segment, the market sizing and forecasts have been done based on volume (tons).

Raw Material Type
Elemental Sulfur
Pyrite Ore
Other Raw Material Types
End-user Industry
Fertilizer
Chemical and Pharmaceutical
Automotive
Petroleum Refining
Other End-user Industries (Pulp and Paper, Metal Processing)
Geography
Asia-Pacific
China
India
Japan
South Korea
Malaysia
Thailand
Indonesia
Vietnam
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
France
Italy
Spain
Nordic
Turkey
Russia
Rest of Europe
South America
Brazil
Argentina
Colombia
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Nigeria
Qatar
Egypt
United Arab Emirates
Rest of Middle-East and Africa
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Sulfuric Acid Market Size Summary

The sulfuric acid market is poised for steady growth over the forecast period, driven by its critical role in various industrial applications, particularly in the production of phosphate-based fertilizers. This mineral acid, essential for enhancing agricultural productivity, is witnessing increased demand from the chemical and pharmaceutical sectors globally. Despite the challenges posed by fluctuating raw material prices, the market is expected to benefit from the expanding agricultural industry, especially in regions like Asia-Pacific, where countries such as China, India, and Japan are major consumers. The region's dominance is further supported by its robust manufacturing sectors, which rely heavily on sulfuric acid for various processes, including fertilizer and battery production.

The market landscape is characterized by a high degree of fragmentation, with key players like Mosaic, PhosAgro Group, and Aurubis AG leading the charge. Recent strategic moves, such as Aarti Industries' extended supply agreement and WeylChem's acquisition of INEOS Sulfur Chemicals, highlight ongoing efforts to strengthen market positions and expand production capacities. These developments, coupled with the growing use of oleum in medical and other industries, present significant opportunities for market expansion. As the demand for sulfuric acid continues to rise, driven by its indispensable role in agriculture and industry, the market is set to experience sustained growth in the coming years.

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Sulfuric Acid Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 High Demand for Sulfuric Acid in Phosphate-based Fertilizers

      2. 1.1.2 Growing Demand from Chemical and Pharmaceutical Industries

      3. 1.1.3 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Volatility In Raw Material Pricing

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

    5. 1.5 Trade Analysis

    6. 1.6 Feedstock Analysis

    7. 1.7 Regional Production Capacities

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 Raw Material Type

      1. 2.1.1 Elemental Sulfur

      2. 2.1.2 Pyrite Ore

      3. 2.1.3 Other Raw Material Types

    2. 2.2 End-user Industry

      1. 2.2.1 Fertilizer

      2. 2.2.2 Chemical and Pharmaceutical

      3. 2.2.3 Automotive

      4. 2.2.4 Petroleum Refining

      5. 2.2.5 Other End-user Industries (Pulp and Paper, Metal Processing)

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Malaysia

        6. 2.3.1.6 Thailand

        7. 2.3.1.7 Indonesia

        8. 2.3.1.8 Vietnam

        9. 2.3.1.9 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

        4. 2.3.2.4 Rest of North America

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 France

        4. 2.3.3.4 Italy

        5. 2.3.3.5 Spain

        6. 2.3.3.6 Nordic

        7. 2.3.3.7 Turkey

        8. 2.3.3.8 Russia

        9. 2.3.3.9 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Colombia

        4. 2.3.4.4 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Nigeria

        4. 2.3.5.4 Qatar

        5. 2.3.5.5 Egypt

        6. 2.3.5.6 United Arab Emirates

        7. 2.3.5.7 Rest of Middle-East and Africa

Sulfuric Acid Market Size FAQs

The Sulfuric Acid Market size is expected to reach 321.05 million tons in 2024 and grow at a CAGR of 3.82% to reach 387.24 million tons by 2029.

In 2024, the Sulfuric Acid Market size is expected to reach 321.05 million tons.

Sulfuric Acid Market Report Snapshots

Sulfuric Acid Market Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2024 - 2029)