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.
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.
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Market Analysis by Application:
Sulphuric acid finds wide applications in fertilizers, chemicals, and others.
Market Analysis by Regions:
- North America
- United States of America
- United Kingdom
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- South Africa
The regional markets can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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)
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