Sulfuric Acid Market was valued at USD 16.46 Billion in 2022, and it is expected to reach USD 35.72 Billion by 2029, exhibiting a CAGR of 11.7% during the forecast period (2023-2029)
Market Overview:
The Sulfuric Acid market research provides a comprehensive insight into the competition, including the market share and company profiles of the world’s biggest rivals. The research scope covers a comprehensive examination of the Sulfuric Acid Market, as well as the causes for variances in the industry’s growth across a variety of sectors.
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Market Scope:
Top-down and bottom-up approaches are used to validate market size and estimate market size by segment. Weights based on usage rate and average sale price are applied to each area to generate percentage splits, market shares, and segment breakdowns. The country-wise divisions of the overall market and its sub-segments are determined by the percentage adoption or usage of the specified market size in the relevant area or nation. The market estimations are based on the sale price, excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders.
Drivers:
Some fertilizers give farmers an effective means to add nitrogen and phosphorus to soils, such as the two-component fertilizers MAP and DAP. Fertilizers restore the nutrients in the soil that crops have lost. If fertilizers were not used, crop yields and agricultural output would be drastically reduced. In order to supplement soil nutrient stocks with minerals that are quickly absorbed and utilized by crops, mineral fertilisers are used. The largest source of revenue in the world is agriculture, which is expanding rapidly in both India and the US. As a result, the market is anticipated to be driven by the need for fertilizers throughout the forecast period.
Segmentation:
The elemental sulfur segment is anticipated to rule the market over the forecast period based on a Raw Material. In terms of volume, the segment for elemental sulfur was the largest in 2022. The majority of elemental sulphur is gathered from natural gas and petroleum refineries. One of the most important elements used as a raw material in industry is sulfur, particularly in the fertiliser and manufacturing sectors. Sulfuric acid is made using a lot of raw materials, including elemental sulfur. The demand for this category is projected to expand during the forecast period due to rising sulfuric acid use in various industries.
by Raw Material
Elemental Sulfur
Pyrite Ores
Base Metal Smelters
Others
by Application
Fertilizers
Metal Processing
Pulp & Paper
Petroleum Refining
Textile Industry
Automotive
Chemical Manufacturing
Others
by Grade
PPT
PPB
Others
Key Players:
Primary and secondary research is used to identify market leaders. In-depth interviews with important thought leaders and industry professionals, such as experienced front-line staff, CEOs, and marketing executives, were conducted as part of the primary study. Primary research comprised in-depth interviews with key thought leaders and industry professionals, while secondary research included a review of the main manufacturers’ annual and financial reports. Secondary data is used to determine percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then cross-checked with primary data.
The biggest players in the Sulfuric Acid market are as follows:
1. KANTO Corporation (US)
2. KMG Corporate (US)
3. Cornerstone Chemical Company (US)
4. PVS Chemicals Inc.(US)
5. Kel Chemicals (US)
6. Canada Colors and Chemicals Limited (Canada)
7. Seastar Chemicals Inc (Canada)
8. Aurubis AG (Germany)
9. BASF SE (Germany)
10.Ineos Group Ltd (UK)
11.Linde plc (Ireland)
12.Nouryon (Netherlands)
13.Boliden Group (Sweden)
14.Tata Chemicals (India)
15.Trident Group (India)
16.Hindustan Copper Ltd. (India)
17.Wylton (China) Chemical Co., Ltd. (China)
18.Hubei Xingfa Chemicals Group Co., Ltd (China)
19.Sumitomo Chemical Co., Ltd. (Japan)
20.Tayca Corporation (Japan)
21.UBE Corporation (Japan)
22.Young Poong Co., Ltd. (South Korea)
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Regional Analysis:
The Sulfuric Acid market analysis regional overview covers individual market influencing components and changes in market laws impacting current and future market trends. Current and future trends are studied in order to evaluate the overall market potential and find profitable patterns to get a firmer footing. The geographical market evaluation is based on the current environment and anticipated trends.
COVID-19 Impact Analysis on Sulfuric Acid Market:
From January 2020 to May 2020, end-user industries where Sulfuric Acid are utilized saw a drop in growth in a number of countries due to a halt in operations caused by COVID-19. This resulted in a significant decrease in the revenues of enterprises in these industries, as well as in demand for Sulfuric Acid manufacturers, harming the Sulfuric Acid market’s growth in 2020. Lockdowns and an increase in COVID-19 occurrences led to a decrease in end-user business demand for Sulfuric Acid.
Key Questions Answered in the Sulfuric Acid Market Report:
• What are the key factors influencing Sulfuric Acid market growth?
• In 2023, which segment accounted for the most share of the Sulfuric Acid market?
• What will be the CAGR of the Sulfuric Acid market during the forecast period (2023-2029)?
• In the Sulfuric Acid market, which region has the most market share?
• What is the competitive landscape of the Sulfuric Acid market?
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