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Sulfuric Acid
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Intelligence covers market and price outlook, SWOT analysis, demand & supply drivers, engagement models and Procurement best practices

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Assess Supplier Risk based on key risk and compliance parameters

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Supplier assessment covers the following parameters Financial Risk, Ethical, Labor, Environmental Compliance, IT Security.

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Measure category performance on 15 key parameters across cost, risk and strategy KPIs

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Report Coverage

  • Demand Market Outlook
  • Global Capacity–Demand Analysis
  • Trade Dynamics
  • Cost Structure Analysis: Sulfuric Acid
  • Price Forecast:  Sulfur

Production Size

CAGR

1 - 2 Percent

Production Size North America

16 MMT

Production Size Europe

11 MMT

Production Size EU

17 MMT

Table of contents

  1. Sulfuric Acid Executive Summary
  2. Supply Market Outlook
  3. Demand Market Outlook
  1. Sulfuric Acid Market Analysis
  2. Global Market Size: Sulfuric Acid
  3. Global Market Outlook
  4. Demand - Supply Trends and Forecast
  5. Key End - use Industries
  6. Trade Dynamics
  7. Regional Market Outlook (North America, EU, and Asia)
  8. Regional Market Snapshot
  9. Demand - Supply Trends and Forecast
  10. Trade Dynamics
  1. Sulfuric Acid Industry Analysis
  2. Porter'sFive Forces Analysis
  3. Industry Drivers and Constraints
  1. Cost and Price Analysis
  2. Cost Structure Analysis: Sulfuric Acid
  3. Price Forecast: Sulfur
  4. Price Forecast: Sulfuric Acid
  1. Sulfuric Acid Supplier Analysis
  2. Exhaustive Supplier List: Sulfur
  3. Exhaustive Supplier List: Sulfuric Acid
  4. Supplier Profiles
  1. Sulfuric Acid Industry Best Practices
  2. Industry Best Practices
  3. Logistics Practices

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Global Market Outlook on Sulfuric Acid 

Sulfuric acid is one of the key substances in the chemicals industry. The mineral acid with the formula H2 SO4 is a strong acid and is corrosive. Its most common application is in the fertilizer-chemicals industry, where it is used to prepare sulfur fertilizers. It is used for mineral processing, oil refining, and as an industrial cleaning agent. It is used to make acidic drain cleaners. Sulfuric acid is also used in the textiles industry.   

The sulfuric acid market had a volume of 284.4 million metric tons in the year 2020. The sulfuric acid market analysis shows that the annual CAGR is likely to be 1.5% from 2021 to 2026. The sulfuric acid market trends reveal that by 2026, the market volume would grow to 311 million metric tons.

The fertilizers and chemicals sectors are the main drivers for the growth of the sulfuric acid industry. 45% of the market share comes from the Asia-Pacific region. China is one of the main users of the acid and is using it extensively in the phosphate industry. The second-largest market is North America. The growth of the agriculture sector is seeing an increase in the use of sulfuric acid in countries like China, India, and the US.

The key players in this industry are BASF Se, DuPont de Nemours, INEOS, PVS Chemicals, Chung Hwa Chemical Industries, etc. The Sulfuric acid market is segmented based on region, raw material, and applications. In terms of regions, the segmentation is done as Asia-Pacific, North America, Europe, South America, and Middle-East & Africa. In terms of the raw material used, the market segmentation is done as elemental sulfur, pyrite ore, and base metal smelters. In terms of applications, it is segmented as fertilizers, chemicals, manufacturing, metal processing, paper & pulp, refineries, and textiles. 

The slowdown in manufacturing due to the COVID-19 pandemic and the volatility in the prices of raw materials are challenges before the industry. The need for water treatment plants in industries, the demand for detergents, and the demand from the automobile sector are opportunities that are likely to help the growth of the industry.

  • The global demand is expected to grow at 4–5 percent CAGR for sulfur and 2 percent CAGR for sulfuric acid through 2016–2022.
  • Asia (high population zones: China and India) is expected to drive the demand for sulfur.
  • Sulfuric acid usage in the chemicals segment is also expected to increase by about 1 percent CAGR during the same period.

The global sulfuric acid market is expected to reach $87.9 billion by 2024

  • The key market driving end-user is the agriculture segment (used for producing phosphoric acid, and in turn, phosphate (fertilizers).
  • Global agriculture production is expected and being aimed to grow at 1–2 percent per year in the next decade, which is likely to be a key driver for the sulfuric acid market.

sulfur-and-sulfuric-acid-market-size

The global sulfuric acid market is expected to reach $87.9 billion by 2024

  • The key market driving end use is the agriculture segment (used for producing phosphoric acid, and in turn, phosphate (fertilizers)
  • Global agriculture production is expected and being aimed to grow at 1–2/year in the next decade, which is likely to be a key driver for the sulfuric acid market

Global Market Size: Sulfuric Acid

  • The global sulfuric acid market is expected to reach $83 billion by 2022.
  • The key market driving end-use is the agriculture segment (used for producing phosphoric acid, and in turn, phosphate fertilizers).
  • The top importers in China, India, and the US are expected to drive the sulfuric acid market.
  • Fertilizer consumption is high in China and India, followed by the US.
  • Based on FAO, the caloric requirement is expected to double in the next 25 years, with the population touching the 8 billion mark.

 Global Capacity–Demand Analysis 

  • In the long run, all the key production markets are likely to get self-sustained, which is expected to export sulfur to import in regions like LATAM and Africa.
  • This is likely to shift negotiation power toward buyers in the markets, like North America, in the next 3–4 years.

Market Outlook 

  • Capacity dynamics: Sulfur production is expected to increase by about 27 percent from 2016 to 2021. Sulfur is primarily produced during crude oil and natural gas refining (>96 percent of the total production). Crude production is expected to increase in the coming years as per WOO, stating population growth by 11 percent until 2022. One such scenario can be seen where rig counts in the US increased from 700 levels in 2016 to 1,900 levels by early 2017. The increased oil output is likely to improve sulfur production as well. The rest is produced from Pyrites and mining activities of sulfur deposits.
  • Key consumption regions: China (28 percent), the US (18 percent), and Middle East & Africa (18 percent).
  • Key producing regions: China (17 percent), the US (12 percent), Russia (10 percent), and Canada (8 percent.

Engagement Outlook

  • Concept of negative pricing: Instances were noticed in 2009 when negative pricing was prevalent in the US, due to excess supply and economic recession, where agriculture activities slumped to a large extent. However, though such a scenario is unlikely in the future, extensive discounts or allowances in the prices of sulfur are likely in the key markets, when they attain self-sufficiency and find it difficult to place the material in the international markets.

Sulfur and Sulfuric Acid Market Frequently Asked Questions

  1. Who are the major players in the sulfur and sulfuric acid industry?
  2. Beroe’s sulfuric acid report reveals the key players in the global sulfuric acid market to be North America (22% sulfur and 17% acid), EU (15% sulfur and 10% acid), and Asia (40% sulfur and 45% acid). 

 

  1. What are the latest trends in the sulfur and sulfuric acid market?
  2. The latest trends in the global sulfuric acid market are: Asia is expected to lead the demand in the market. The Chinese phosphate industry which saw a decline in 2016 is now seeing a rise. The chemicals segment is expected to impact the demand for sulfuric acid. 

 

  1. What will be the expected growth of the sulfur and sulfuric acid industry?
  2. As per Beroe’s sulfuric acid market report, the global sulfuric acid market is expecting a growth of 4-5% CAGR between 2016-2022. 

 

  1. What are the key drivers of the sulfur and sulfuric acid market?
  2. Increasing crude output is expected to bridge the supply-demand gap in sulfur. The agricultural segment is expected to drive the demand in the market. Fertilizers and chemicals are also expected to increase the demand. 

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