Global Sulfuric Acid Market to Reach USD 13.44 billion by 2028

According to the latest research by SkyQuest Technology, the Global Sulfuric Acid Market was valued at USD 11 billion in 2021, and it is expected to reach USD 13.44 billion by 2028, with a CAGR of 2.91% during the forecast period of 2022 - 2028. The research provides up-to-date sulfuric acid market analysis of the current market landscape, latest trends, drivers, and overall market environment.

The fertilizer, chemical manufacturing, paper & pulp, petroleum refinery, metal processing, and automotive industries are expected to have increased demand for the product, which is used as a catalyst, dehydrating agent, and reactant in these sectors. The agricultural sector's growing concerns over high crop yield and excellent food quality are anticipated to fuel the growth of the fertilizer market, which will then probably ignite the sulfuric acid market. The automotive industry is anticipated to grow at the highest CAGR during the period of the forecast. The automotive application segment is expected to grow in the coming years due to increased use of sulfuric acid in automotive batteries.

Read Market Research Report, "Global Sulfuric Acid Market By Raw Material (Elemental Sulfur, Base Metal Smelters, Pyrite Ore Other, Application (Fertilizers, Chemical Manufacturing, Metal Processing, Petroleum Refining, Textile Industry, Automotive, Paper & Pulp, Other), and Region -Forecast and Analysis 2022-2028" by SkyQuest.

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Significant market share gains have been made in the market for raw materials containing elemental sulfur, and this market is anticipated to expand at the fastest rate during the forecast period. The raw material is used extensively in the industry and emits less pollution than pyrite ore or base metal smelters. In an effort to lessen or stop environmental pollution, numerous businesses have implemented stringent measures to treat the released sulfur gas before releasing it into the atmosphere.

Sulfuric acid is made primarily from the pyrites produced in China, the world's top producer. When mining pyrites for the production of acid products, manufacturers are likely to take strict precautions because they are less environmentally friendly than elemental sulfur. These factors are likely to hinder the market expansion for raw pyrite ore.
Fertilizers were a significant application segment, accounting for about 54% of the market's overall revenue. In the upcoming years, market growth is anticipated to be driven by increasing crop quality demand and growing global population. Farmers are being forced to use fertilizers to increase crop yield due to the loss of arable land caused by rapid industrialization and urbanization. Rising H2SO4 use in the manufacture of superior fertilizers for use in agriculture is anticipated to fuel market growth.

Report Findings
● Drivers- In many different industries, including fertilizers, paper and pulp, petroleum efficiency, chemical manufacturing, automotive, and metal processing, sulphuric acid functions as a dehydrating agent, catalyst, and reactant. This increases demand for the product and boosts market growth.
● Restraint- The sale of sulfuric acid is hampered by the overabundance of materials, which is restricting market growth. Due to their serious side effects and environmental pollution, the chemical industry is subject to strict regulations. Because it is so dangerous, sulfuric acid is strictly regulated.

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What does this Report Deliver?
● Market Estimation for 20+ Countries
● Sulfuric Acid Market demand by Region, Sub-Region, and Country
● Customization on Segments, Regions, and Company Profiles
● 100+ tables, 150+ Figures
● Global, Regional and Country specific Sulfuric Acid Market Trends
● Comprehensive Mapping of Sulfuric Acid Industry Parameters
● Attractive Investment Proposition in the Global Sulfuric Acid Industry
● Competitive Strategies Adopted by Sulfuric Acid Market Key Players
● Drivers, Restraints, Opportunities, Challenges and the impact on the Sulfuric Acid Market Size
● Market growth rate till 2028
● Regulatory scenario, regional dynamics, and Sulfuric Acid market insights of leading countries in each region
● In-depth Market insights by Region and Country
● Market Segmentation Trend Analysis, Opportunities and Growth
● Porter's five force analysis to know the market's condition
● Pricing Analysis and Sulfuric Acid Market Sales
● Parent market analysis
● Product portfolio benchmarking

SkyQuest has segmented the Global Sulfuric Acid Market based on Raw Material, Application, and region:
● Global Sulfuric Acid Market by Raw Material (Revenue, US$ billion, 2021 - 2028)
○ Elemental Sulfur
○ Base Metal Smelters
○ Pyrite Ore
○ Others
● Global Sulfuric Acid Market by Application (Revenue, US$ billion, 2021 - 2028)
○ Fertilizers
○ Chemical manufacturing
○ Metal processing
○ Petroleum refining
○ Textile industry 
○ Automotive, Paper & pulp
○ Others
● Global Sulfuric Acid Market by Region (Revenue, US$ billion, 2021 - 2028)
○ North America
■ US
■ Canada
○ Europe
■ Germany
■ France
■ UK
■ Italy
■ Spain
■ Rest of Europe
○ Asia Pacific
■ China
■ India
■ Japan
■ Rest of Asia Pacific
○ Central & South America
■ Brazil
■ Rest of CSA
○ Middle East & Africa
■ GCC Countries
■ South Africa
■ Rest of MEA

Key Players in the Global Sulfuric Acid Market
● Agrium (Canada)
● Akzo Nobel (Netherlands)
● Bayer (Germany)
● Bp (UK)
● Chevron (US)
● Cytec Industries (US)
● Dupont (US)
● Evonik Industries (Germany)
● Honeywell (US)
● Solvay (Belgium)

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This release was published on openPR.