Sulfuric Acid Market to Surpass 324.1 million tons by 2027 - Coherent Market Insights

The global sulfuric acid market was pegged at 266.2 million tons in 2018, according to sulfuric acid market report, by Raw Material Type (Pyrite Ore, Elemental Sulfur, Base Metal Smelters, and Others), by Application (Fertilizers, Pulp & Paper, Textiles, Chemical Manufacturing, Metal Processing, Automotive Battery Acid, Petroleum Refining, and Others), by Manufacturing Process (Single Contact Process, Wet Contact Process, Lead Chamber Process, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa), published by . The global sulfuric acid market is expected to reach 324.1 million tons by 2027, exhibiting a CAGR of 2.3% (in terms of volume) over the forecast period. The growing agriculture sector has led to increasing demand for fertilizers, which is fueling growth of the sulfuric acid market. For instance, according to the India Brand Equity Foundation (IBEF), total food grain production in India was pegged at 253.16 million tons in 2016, which increased to 275.68 million tons in 2017. Sulfuric acid is used in manufacturing fertilizers such as ammonium sulfate and superphosphate of lime. Moreover, it is used in manufacturing various chemicals such as nitric acid, hydrochloric acid, synthetic detergents, dyes, and sulfate salts. It is also used in petroleum refinery, in order to remove impurities from refinery products. Growing chemical manufacturing and processing industry is expected to drive growth of the global sulfuric acid market over the forecast period. For instance, according to the European Chemical Industry Council, the global chemical sales in 2015 were valued at US$ 3,886 billion, which increased to US$ 3,901 billion in 2016. However, stringent regulations imposed by several countries on usage of sulfuric acid is expected to restrain growth of the sulfuric acid market. The U.S. Environmental Protection Agency (EPA), has listed Sulfuric acid as a toxic chemical, and the Occupational Safety and Health Administration (OSHA 1998) has laid down guidelines for the permissible exposure limit (PEL) of sulfuric acid to 1mg/m3. These stringent regulations, coupled with the high raw material prices, are expected to hinder growth of the market over the forecast period. To know the latest trends and insights prevalent in this market, click the link below: https://www.coherentmarketinsights.com/market-insight/sulphuric-acid-market-326 Browse 212 market data tables* and 98 figures* on "Sulfuric Acid Market” - Global forecast to 2027. Key Trends and Analysis of the Sulfuric Acid Market:

• Among applications, the pulp and paper segment held significant market share in 2018 and is expected to increase during the forecast period. Sulfuric acid is used for pH adjustment, oil splitting, and generation of chlorine dioxide in the paper & pulp industry. Furthermore, increasing production and consumption of the pulp and paper industry driving the global sulfuric acid market. According to The Confederation of European Paper Industries (CEPI), in Europe, the total pulp production was pegged at 37,165’000 Tons in 2016 which was increased to 37,795’000 Tons in 2017 and the total pulp consumption was pegged at 41,385’000 tons which was increased to 41,731’000 tons in 2017.

Key Takeaways of the Market:

• Key players are adopting inorganic growth strategies such as merger and acquisition in order to gain market share in the global sulfuric acid market. For instance, in 2017, Mitsui & Co., Ltd. acquired Chemtrade Aglobis AG a subsidiary of chemtrade logistics Inc. which is a leading distributor of sulfur and sulfuric acid in Europe. With this acquisition Mitsui & Co., Ltd. focusing on sulfuric acid business expansion across the Europe.
• Major players operating in the global sulfuric acid market include PVS Chemicals, BASF SE, Akzo Nobel N.V., DowDuPont Inc., Unigel Group, Boliden Group, Ineos Enterprises Limited, Trident Chemicals, Aurubis AG, Climax Molybdenum BV, and Amal Ltd.