Global Sulfuric Acid Market projected to reach US$ 16.233 billion by 2028 at a significant CAGR of 2.15%

The sulfuric acid market is projected to witness a compound annual growth rate of 2.15%, growing to US$16.233 billion by 2028 from US$13.988 billion in 2021.

NOIDA, UTTAR PRADESH, INDIA, September 29, 2023 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the sulfuric acid market is projected to grow at a CAGR of 2.15% between 2021 and 2028 to reach US$16.233 billion by 2028.

The prime factors propelling the sulfuric acid market growth are the increasing demand from end-users such as the water treatment industry and chemicals among others coupled with favorable government policies.

Sulfuric acid is a colorless, odorless liquid that is highly corrosive. It is used in a wide variety of industrial and commercial applications and is widely produced with different methods, such as the contact process, wet sulfuric acid process, lead chamber process, and some other methods. Sulfuric acid is a key substance in the chemical industry and is used in the manufacture of fertilizers, pigments, dyes, drugs, explosives, detergents, and inorganic salts and acids. Bolstering growth in the major end-users such as automotive, chemicals, and oil & gas are driving the demand for sulfuric in them thereby augmenting the overall market growth.

The market is witnessing multiple collaborations and technological advancements, for instance in May 2022, WeylChem Global GmBH acquired INEOS Sulfur Substance Spain SLU. INEOS is a main maker of sulfuric corrosive and has a creation limit of 350,000 tons in Bilbao. Post acquisition the new organization was named "WeylChem Bilbao." The organization was in long to expand its assembling limit before very long to have an impressive portion of the overall industry.

Access sample report or view details: https://www.knowledge-sourcing.com/report/global-sulfuric-acid-market

Based on raw material the global sulfuric acid market is divided into Elemental Sulfur, Pyrite Ore, Base Metal, melters, and Others. The elemental sulfur segment is experiencing substantial growth. Elemental sulfur is the most abundant raw material used in the production of sulfuric acid. It is found in many different parts of the world, including the Middle East, North America, and South America. The production of sulfuric acid from elemental sulfur is a cleaner process as compared to other raw materials.

Based on end users the global sulfuric acid market is divided into oil and gas, textile, automotive, chemical, and others. The chemical segment is experiencing substantial growth due to the high applicability of such acid in the production of fertilizers, paints, and other chemical products. Sulfuric acid is used in the production of a variety of other chemicals, such as phosphoric acid, nitric acid, and hydrochloric acid which finds applicability in the fertilizer industry, the mining, and the food and beverage industry.

Based on Geography, Asia Pacific is projected to show significant growth in the global sulfuric acid market. The chemical industry in the Asia Pacific region is growing rapidly, driven by factors such as increasing demand for high-quality fertilizers for crop cultivation coupled with favorable investment in wastewater treatment facilities. Moreover, governments in many Asia Pacific countries are providing support to the sulfuric acid industry through favorable policies, such as tax breaks and subsidies.

As a part of the report, the major players operating in the sulfuric acid market, that have been covered are Spectrum Chemical Manufacturing Corporation, The Mosaic Company, Hibrett Puratex, Southern States Chemical (Subsidiary of Dulany Industries, Inc.), BASF SE, ACP Labchem, Inc., LANXESS, Nyrstar N.V., Aurubis AG.

The market analytics report segments the sulfuric acid market on the following basis:

• BY RAW MATERIAL

o Elemental Sulfur
o Pyrite Ore
o Base Metal Smelters
o Others

• BY END USER INDUSTRY

o Oil and Gas
o Textile
o Automotive
o Chemical
o Others

• BY GEOGRAPHY

o North America

• USA
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• Germany
• France
• United Kingdom
• Italy
• Others

o Middle East and Africa

• Saudi Arabia
• UAE
• Israel
• Others

o Asia Pacific

• China
• India
• Japan
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others

Companies Profiled:

• Spectrum Chemical Manufacturing Corporation
• The Mosaic Company
• Hibrett Puratex
• Southern States Chemical (Subsidiary of Dulany Industries, Inc.)
• BASF SE
• ACP Labchem, Inc.
• LANXESS
• Nyrstar N.V.
• Aurubis AG

Explore More Reports:

• Adipic acid Market: https://www.knowledge-sourcing.com/report/adipic-acid-market

• Organic Acids Market: https://www.knowledge-sourcing.com/report/organic-acids-market

• Dimer Acid Market: https://www.knowledge-sourcing.com/report/nitric-acid-market

Ankit Mishra
Knowledge Sourcing Intelligence
+1 850-250-1698
info@knowledge-sourcing.com
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