Email
Print
Sulphuric Acid Market is
gaining traction due to increasing use of the acid as a food additive to
prevent the growth of spoilage microbes and bacteria. Diluted sulphuric acid is
approved as a food additive and acidifying agent in most of the regions such as
APAC and Europe as it contains hydrogen and oxygen. Sulphur is used in the
production of various dairy products such as cheese and in the sugar refineries
as it is beneficial in muscle development. Rising demand for sulphuric acid
in the agriculture sector is due to rise in cultivation of nutrition rich food
crops. In March 2019, Outotec Oyj, a Finnish technology company, signed a contract with
OCP Group, a Morocco-based company, for the delivery of sulphuric acid plant
for the fertilizers production. This new acid facility will include advanced
proprietary technologies such as HEROS, convertor, an acid distribution system
and absorption tower. Owing to the similar amalgamation globally, the analyst
from IndustryARC evaluated the global sulphuric acid market size to be $8.54
Billion as of 2018. Moreover, the demand for sulphuric acid is poised to grow at a
CAGR of 2.50% during the forecast period 2019-2025, as per a newly compiled
market intelligence report.
According to the
Sulphur Institute 2018 report, over 40 million tonnes of sulphuric acid is
produced annually in the U.S. Major applications of
sulphuric acid include industrial chemicals such as mineral acid and hydrogen,
production of fertilizers, additives for the pulp and paper industry, battery
acid in the automotive sector, and rubber vulcanizing. Furthermore, IndustryARC’s
analyst states that “recently, sulphuric acid has been identified as the new
particle formation, which is a key component in the atmosphere coupled with
atmospheric bases such as amines and ammonia, and few highly oxidized organic
compounds.”
Global Sulphuric Acid
Market: Leading Segments
APAC is dominating the
sulphuric acid market with a regional share of 36% in 2018. Countries such as
China, Japan, and India have highest population in
APAC. Therefore, there is a demand influx in the agricultural industry in
order to suffice the food requirement of the population. Subsequently, the
growing agriculture production is boosting the sulphuric acid demand. According
to the World of Steel Organization, China and India are largest steel producing
countries in the world with 831.7 million tonnes and 101.4 million tonnes as of
2017. Emerging markets of China
and India are expected to become the major net consumer of sulphuric acid in
the coming years for the production of steel. Sulphuric acid also known as
mineral acid, has strong acidic nature and is dehydrating in nature, due to
this it is widely used in the manufacturing of steel. Moreover, the Industry 4.0 has changes the dynamics of the
sulphuric acid industry. Smart manufacturing, automation, and real-time data
exchange is helping the companies to forecast prices, demand, and supplies by
using big data. In terms of cost saving and safety, few of the companies have
started using drones to examine storage tank for leakage or cracks and chemical
plants. This technological advancement and its use is expected to increase the
productivity, efficiency, and margins of the sulphuric acid manufacturers. Hence, the APAC sulphuric acid market will witness substantial
growth in the coming years.
Fertilizers is the
growing key application of the Global Sulphuric Acid Market. According to the
Food and Agriculture Organization, by the end of 2019, the global demand for
total fertilizer nutrients is projected to grow by 1.6% and expected to reach
199 million tonnes. Phosphate fertilizers
are considered as modern day agricultural practices and are used for
manufacturing phosphate fertilizers. Moreover, the demand for sulfuric acid in
fertilizer manufacturing will grow at a CAGR of 5.40%, during the forecast
period.
Global Sulphuric Acid
Market: Market Trends and Growth Driver
· Rising Water
Treatment Plants
Rising number of water
treatment plants globally have gained traction in every industry, owing to
stringent rules and regulations of the government to avoid water wastage. These
plants use sulphuric acid to neutralize the pH level of the water that is
being wasted. For instance, Wata Chemicals in 2019 opened its second
sulphuric acid plant to benefit the water treatment industry in Bangladesh. Hence, usage of
sulphuric acid in water treatment is influencing the sulphuric acid market
growth.
· Growing
Nutritional-Rich Food Crops
The largest amount of
sulphuric acid is found in phosphate fertilizers, being
the largest application of the sulphuric acid along with constant increase in
the demand for sulphuric acid and its diversified applications. The
level of sulphuric amino acid in the fruits and vegetables helps the skin to
maintain its suppleness. The sulphuric acid market is boosting, owing to
consumers inclination towards these fruits and vegetables.
Global Sulphuric Acid Market: Major
Frontrunners
Talk to one of our
sales representative about the full report by providing your details in the
link below:
https://www.industryarc.com/support.php?id=16275
Related Reports:
Inorganic Acid Market
https://www.industryarc.com/Report/15902/inorganic-acid-market.html
Phosphoric Acid Market
To request for a quote provide your details in the below link:
https://www.industryarc.com/reports/request-quote?id=16275
Media Contact:
Mr. Venkat Reddy
Sales
Manager
Email: [email protected]
About IndustryARC: IndustryARC is a research and consulting firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.