According to research conducted by Future Market Insights on global sulfuric acid market, demand for sulfuric acid is set to grow at a moderate CAGR of 3.4% between 2022 and 2032, reaching a valuation of US$ 25,623.0 Mn by the end of the forecast period (2032).

The market has been significantly influenced by certain macro-economic and industrial factors including chemical industries development, rapid economic boom, expansion of manufacturing sector, and growth of agricultural industry.

Sulfuric acid, also known as oil of vitriol, is a strong mineral acid that finds application in diverse industries including metal extraction, agriculture, pharmaceuticals, and textiles. It has become a key constituent utilized for the manufacturing of phosphate-based fertilizers.

Thus, need for increasing the crop production all over the globe will indirectly push the demand for sulfuric acid during the forecast period. Similarly, development in the chemical industry and growing demand for catalyst in the processing industries are also expected to boost the growth of sulfuric acid market.

Get a Sample Copy of the Report @
https://www.futuremarketinsights.com/reports/sample/rep-gb-6753

Competitive Landscape

The market of sulfuric acids is estimated to be a consolidated market, where leading players are expected to account for a key share of the market. Some of the top sulgfuric acid manufacturers includes BASF SE, Ineos Group Ltd, KANTO Corporation, Aurubis AG, Avantor Performance Materials, LLC, PVS Chemicals Inc., Seastar Chemicals, KMG Chemicals, Qingdao Hisea Chem Co. Ltd., Linde Group, Nouryon, Cornerstone Chemical Company, Ma’aden – Saudi Arabian Mining Company, Canada Colors and Chemicals Limited, Hubei Xingfa Chemicals Group Co., Ltd, Asia Union Electronic Chemical Corporation (AUECC), Tata Chemicals, Trident Group,   Boliden Group, UBE INDUSTRIES, LTD., Sumitomo Chemical Co., Ltd., Tayca Corporation.

These key players are focusing on increasing their production capacity to enhance their market footprint all over the globe and to gain traction in the market. Further certain key players are focusing on investing in ultra-pure sulfuric acid production owing to rising demand from electronic industry.

For instance, In July 2021, BASF, Zhejiang Jiahua Energy Chemical Industry Co. Ltd. and its fully-owned subsidiary Zhejiang Jiafu New Material Technology Co. Ltd. signed an agreement to further expand the production capacity of electronic-grade sulfuric acid in Jiaxing, China.

Sulfuric Acid Market Segmentation

By Purity Type:

• Standard
• Ultra-Pure

By Raw Materials:

• Elemental Sulfur
• Base Metal Smelters
• Pyrite Ores
• Others

By Application:

• Fertilizers
• Petroleum Refining
• Metal Production & Processing
• Wastewater Treatment
• Chemicals Production
• Textile Processing
• Pulp & Paper Production
• Semiconductor & Electronics
• Pharmaceuticals
• Domestic Cleaning Products
• Others

“Consistently growing demand from end-use industries, particularly fertilizers, metal production and processing, and petroleum refining is driving the demand for sulfuric acid,” said an analyst at FMI.

Browse latest Market Reports@ 
https://www.futuremarketinsights.com/category/chemicals-and-materials