The demand for Sulfuric Acid Market, a versatile and widely used chemical compound, is subject to various factors. Sulfuric acid finds extensive application across multiple industries, making it highly sought after. One of its primary uses is in the production of fertilizers, specifically phosphate fertilizers like diammonium phosphate (DAP) and monoammonium phosphate (MAP). These fertilizers play a crucial role in promoting agricultural activities and increasing crop yields.
Moreover, sulfuric acid is a key component in the manufacturing process of various chemicals such as dyes, detergents, pigments, explosives, and pharmaceuticals. Additionally, it is utilized in the production of batteries for automotive and industrial purposes.
The demand for sulfuric acid is influenced by factors like population growth, urbanization, industrialization, and agricultural practices. As the global population continues to rise and urban areas expand, the demand for agricultural products and associated fertilizers increases accordingly.
For up-to-date information on the current demand for sulfuric acid and prevailing market trends, it is recommended to consult industry reports, market research studies, and relevant industry associations or organizations actively involved in sulfuric acid production and consumption.
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Top Leading Players: BASF SE, DuPont, Trident Limited, AkzoNobel N.V., The Chemical Company, Aurubis AG, Shrieve, Agrium, Inc., PVS Chemical Solution, and Chemtrade Logistics.
Sulfuric Acid Market Demand:
Sulfuric acid is a highly versatile and widely used chemical compound with numerous applications across various industries. It is primarily used in the production of fertilizers, such as phosphate fertilizers like diammonium phosphate (DAP) and monoammonium phosphate (MAP). These fertilizers are essential for agricultural activities and contribute to increasing crop yields.
Apart from its use in fertilizers, sulfuric acid is also utilized in the manufacturing of various chemicals, including dyes, detergents, pigments, explosives, and pharmaceuticals. It plays a crucial role in the production of batteries for automotive and industrial applications.
The agriculture sector, in particular, is a significant driver for sulfuric acid demand due to the need for increased food production to support growing populations.
To obtain the latest information about the current demand for sulfuric acid and market trends, it is advisable to refer to industry reports, market research studies, and consult relevant industry associations or organizations involved in the production and consumption of sulfuric acid.
Key Companies in the market include:
- Based on regional analysis, the North American sulfuric acid market accounted for the largest revenue share in the global market in 2021, owing to increasing demand for fertilizer manufacturing, inorganic chemical manufacturing, and increasing applications in the automotive industry. According to the Observatory of Economic Complexity (OEC), Canada is the world's leading producer and exporter of sulfuric acid. Sulfuric acid exports from Canada, which account for more than 20% of her total international trade, reached US$115 million in 2017.
- Most of the chemicals sold by Canadian sulfuric acid companies are now exported to agribusiness countries. Canada is the world's largest exporter of sulfuric acid in her 2020, exporting US$152 million worth of sulfuric acid abroad. Sulfuric acid was Canada's 268th most exported commodity in the same year. Moreover, the presence of key market players in the region is a key factor driving the revenue growth of this market in the region.
- On October 27, 2021, Nuberg EPC, the world's leading EPC and turnkey project management organization, was awarded major sulfuric acid plant projects in Gamatha, Egypt and Oromia, Ethiopia. Based on EPC and LSTK, 50 TPD + 40 TPD sulfuric acid purification projects of aluminum sulfate in Ethiopia and STG rating of 500 MTPD + 5 MW in Egypt have been won.
- On November 16, 2021, Coromandel International Limited, India's second largest producer of phosphorous fertilizers and a member of the Murugappa Group, kicked off a project to build a new sulfuric acid plant with an investment of $48 million. announced. A day at the fertilizer complex in Visakhapatnam.
Key Regional Markets Covered in the Report:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
Segments covered in the report:
Type of Raw Material Outlook (Revenue, USD Billion; 2019-2030)
- Base metal smelters
- Pyrite ore
- Elemental Sulfur
- Others
Application Outlook (Revenue, USD Billion; 2019-2030)
- Chemical Manufacturing
- Fertilizer Production
- Metal Processing
- Petroleum Refining
- Textile Industry
- Others
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