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 Coherent Market Insights. 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.
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