Sulfuric Acid Market
Regions Covered
USA
Europe
Asia
Regions Covered
USA
Europe
Asia
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).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. The top importers 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 population touching 8 billion Excess supplied market with more than 200 suppliers across the globe, while the buyer’s market relatively consolidated gives an upper hand to buyers in low-cost sourcing of the material. Apart from on-purpose production, sulfuric acid is a by-product in metal smelting, where large volumes are involuntarily produced. Hence, there is no definitive installed capacity for the commodity. Apart from this, the involuntary production has plagued the market with excess supply for almost a decade. In Europe, instances were noticed, where on-purpose producers have gone out of business, due to loss of market share. More than 200 MMT of sulfuric acid is consumed every year, while the production is at least 10 percent higher than the requirement
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