According to a new report by Expert Market Research titled, ‘Global Sulphuric Acid Market Report and Forecast 2020-2025’, the global sulphuric acid market size reached a volume of 284.4 million metric tons in 2019. The market is likely to increase at a CAGR of 1.5% in the forecast period 2020-2025 to reach a volume of approximately 311 million metric tons by 2025.
The global sulphuric acid market is being aided by the thriving agricultural industry. In terms of region, Asia leads the global market with over 45% market share. Other major regions in the market are North America and Europe. The significant producing regions include China, India, and the United States.
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The application of the product is likely to grow more in future. The demand for the sulphuric acid in Asia, especially in China, is expected to grow in future. Due to the increased demand for fertilisers, regions like China, India, and the United States are compelled to import significant volumes of sulphuric acid from other regions. India and China are major agrarian nations, accounting for 15% and 37% of the total contribution to the global agricultural market, respectively. Both these countries extensively use the acid for manufacturing fertilisers. The demand for electronic grade sulphuric acid is growing at a rapid rate and is likely to witness a faster growth in the coming years.
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In November 2019, DuPont de Nemours Inc (NYSE: DD) announced the selection of its MECS® sulphuric acid technology by NioCorp Developments Ltd for its Superalloy Materials Project in Southeast Nebraska. The MECS sulphuric acid plant would be designed to improve energy recovery and emission control in order to ensure the best possible environmental efficiency.
Market Analysis by Application:
- Fertilizers
- Chemicals
- Others
Sulphuric acid finds wide applications in fertilizers, chemicals, and others.
Market Analysis by Regions:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
The regional markets can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Key Findings of the Report:
- The market growth is being aided by the rising demand for sulphuric acid in the agricultural industry, which is rapidly growing.
- The demand for sulphuric acid is being driven by the growing demand for fertilisers, which are produced using sulphuric acid.
- The market is also being aided by the increased volumes of imports.
- Rapid population growth is also driving the market growth, with the rising demand for food.
- The intense competition between the key players is also providing further impetus to the market growth.
Key Offerings of the Report:
- The Expert Market Research report gives an overview of the global sulphuric acid market for the periods (2015-2019) and (2020-2025).
- The report also offers the historical (2015-2019) and forecast (2020-2025) markets for the applications and major regions of sulphuric acid.
- The Expert Market Research report also gives the regional price analysis of sulphuric acid and its feedstock for the periods (2015-2019) and (2020-2025).
- An assessment of the global trade data has also been provided in the report.
The key players in the global sulphuric acid market include INEOS Sulphur Chemicals, BASF SE, DuPont de Nemours, Inc., PVS Chemicals Inc., and Chung Hwa Chemical Industrial Works, Ltd., among others. The comprehensive report covers their market share, capacity, and latest developments like mergers and acquisitions, and capacity expansions.
Competitive Landscape & Supplier Analysis:
- INEOS Sulphur Chemicals
- BASF SE (OTCMKTS: BASFY)
- DuPont de Nemours, Inc. (NYSE: CTA-A)
- PVS Chemicals Inc.
- Chung Hwa Chemical Industrial Works, Ltd. (TPE: 1727)
- Others
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Note 1: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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