Sulfuric Acid Market Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2024 - 2029)

The Market Report Covers Global Sulfuric Acid Production by Country and is Segmented by Raw Material Type (Elemental Sulfur, Pyrite Ore, and Other Raw Material Types), End-User Industry (Fertilizer, Chemical and Pharmaceutical, Automotive, Petroleum Refining, and Other End-User Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The Report Offers Market Size and Forecasts for the Market Studied in Volume (Tons) for all the Above Segments.

Sulfuric Acid Market Size

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Sulfuric Acid Market Summary
Study Period 2019 - 2029
Market Volume (2024) 321.05 Million tons
Market Volume (2029) 387.24 Million tons
CAGR (2024 - 2029) 3.82 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific

Major Players

Sulfuric Acid Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Sulfuric Acid Market Analysis

The Sulfuric Acid Market size is estimated at 321.05 Million tons in 2024, and is expected to reach 387.24 Million tons by 2029, growing at a CAGR of 3.82% during the forecast period (2024-2029).

The COVID-19 pandemic moderately affected the sulfuric acid market in 2020. The imposition of lockdowns across various countries and disruptions in supply affected the chemical sector. However, since sulfuric acid is among the primary chemicals used in the chemical sector, high demand is anticipated in the forecast period.

In the short term, the market study is being driven by the high demand for sulfuric acid in phosphate-based fertilizers and the growing demand from the chemical and pharmaceutical industries worldwide.

Conversely, changes in the prices of raw materials are likely to slow the growth of the sulfuric acid market in the coming years.

The growing use of oleum in medical and other industries can be seen as a major opportunity for the market.

The Asia-Pacific region dominated the sulfuric acid market globally, with the highest consumption coming from countries such as China, India, and Japan.

Sulfuric Acid Market Trends

Growing Consumption from Fertilizer Segment

  • Sulfuric acid is a vital mineral acid made up of sulfur, hydrogen, and oxygen. It has a strong smell and is a highly corrosive, oily, and transparent liquid. It should always be handled with caution, even in its diluted form. When diluted with water, it releases heat in a ceramic exhaust reaction. It is an important industrial chemical used in fertilizer manufacturing processes.
  • According to the UN Comtrade, Brazil led global agricultural fertilizer imports in 2022, with an import value of around USD 24.79 billion. The United States and China ranked second and third, importing approximately USD 13.25 billion and USD 4.95 billion, respectively.
  • Around half of the global sulfuric acid supply is used in agriculture and farming, especially as fertilizer. Sulfuric acid is used to manufacture phosphate fertilizers, such as the superphosphate of lime and ammonium sulfate. Sulfuric acid increases crop yield, which helps farmers generate more revenue by producing highly nutritional crops.
  • For instance, according to the National Bureau of Statistics of China, the production volume of phosphate fertilizer in China reached 9.84 million metric tons in 2022.
  • Fertilizers replace the nutrients that crops remove from the soil. They can significantly improve crop yields and agricultural productivity. Mineral fertilizers supplement the soil's nutrient stocks with minerals that may be quickly absorbed and used by crops.
  • Further, according to UN Comtrade, the import value of fertilizers to the United Kingdom (UK) reached USD 2,623.03 million in 2022, a growth of USD 1,285.14 million from the previous year.
  • Agriculture is the primary source of livelihood globally; India and the United States are witnessing positive growth in agriculture. So, the market is likely to be driven by the need for fertilizers over the next few years.
  • Agriculture is the primary source of livelihood globally; India and the United States are witnessing positive growth in agriculture. So, the market is likely to be driven by the need for fertilizers over the next few years.
  • For instance, according to the Food and Agriculture Organization, the global capacity for producing ammonia, phosphoric acid, and potash in 2022 was 318,652 metric tons, thereby boosting the market demand for sulfuric acid in the forecast period.
  • The agriculture sector in Latin America and the Caribbean has witnessed significant growth in the past. According to the Organization for Economic Co-operation and Development (OECD) and the Food and Agriculture Organization of the United Nations (FAO), agricultural and fisheries production is expected to grow by 17% during 2018-2028. Around 53% of this growth is expected to come from increased crop production. Hence, the growing agricultural industry boosted the demand for fertilizers. This is expected to impact the growth of the sulfuric acid market.
  • So, the market is likely to be driven by the growing use of sulfuric acid in fertilizers over the next few years.
Sulfuric Acid Market : Import Value of Fertilizers,  in USD Million,  United Kingdom (UK), 2016 - 2022

Asia-Pacific Region to Dominate the Market

  • Asia-Pacific region is expected to dominate the sulfuric acid market during the forecast period. Due to the high demand from the chemical, fertilizer, and other manufacturing sectors in countries like China, India, and Japan, the sulfuric acid market has been rapidly increasing.
  • According to the National Bureau of Statistics of China, in 2022, the sulfuric acid production in China was 95.05 million metric tons, registering a growth of over 1.3% when compared to 93.83 million metric tons in 2021.
  • China is the largest fertilizer manufacturer in the world. According to the National Bureau of Statistics of China, the nitrogen, phosphate, and potash fertilizer production volume in China accounted for 55.7 million tons in 2022 and registered growth when compared to 55.44 million tons in 2021.
  • Similarly, as per the Department for Promotion of Industry and Internal Trade (India), the annual growth rate of fertilizer production in India reached 9.6 percent and is at its peak when compared to previous years' data.
  • In a boost to the country's sulfuric acid expansion, India's leading private phosphatic fertilizer company, Coromandel International, unveiled a new sulphuric acid facility in Visakhapatnam in October 2023. With an investment of Rs 400 crore, the plant is poised to produce 1,650 metric tonnes per day (MTPD).
  • Furthermore, Sulfuric acid is indirectly related to the pharmaceutical industry as it plays a role in the synthesis of certain chemicals and raw materials used in pharmaceutical manufacturing processes.
  • According to the Ministry of Health, Labour and Welfare of Japan, the value of pharmaceutical drug imports to Japan reached JPY 3.41 trillion (USD 0.023 trillion ) in 2022 and registered a peak when compared with JPY trillion (USD 0.020 trillion) in the previous year.
  • Moreover, Sulfuric acid is utilized in the automotive industry as it is a critical component in the manufacturing process of lead-acid batteries, commonly used to power vehicles.
  • According to the Korea Automobile Manufacturers Association of Japan, the number of vehicles manufactured in South Korea will be valued at 3.76 million units in 2022, thus affecting the growth of batteries supporting sulfuric acid.
  • All the factors mentioned above are expected to boost the demand for sulfuric acid in the Asian-Pacific region over the forecast period.
Sulfuric Acid Market - Growth Rate by Region,

Sulfuric Acid Industry Overview

The global sulfuric acid market is highly fragmented. The top five players dominating the market include (not in any particular order) Mosaic, PhosAgro Group of Companies, Jiangxi Copper Group Co. Ltd, Yunnan Copper Co. Ltd, and Aurubis AG.

Sulfuric Acid Market Leaders

  1. Mosaic

  2. PhosAgro Group of Companies

  3. Aurubis AG

  4. Yunnan Copper Co., Ltd.

  5. Jiangxi Copper Group Co. Ltd.

*Disclaimer: Major Players sorted in no particular order

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Sulfuric Acid Market News

  • January 2024: Aarti Industries Limited (AIL) has revealed a nine-year extended supply agreement with a global company specializing in pesticide products and solutions, presenting Aarti Industries with a revenue opportunity of approximately INR 300 crore (USD 361 million) over the duration and reinforcing its sulfuric acid portfolio
  • May 2022: WeylChem International GmbH completed the acquisition and integration of INEOS Sulfur Chemicals Spain SLU, the leading Spanish sulfur chemicals arm of INEOS enterprises. The acquired business comprises a state-of-the-art facility with an annual capacity of 350,000 tons for producing sulfuric acid in Bilbao. The newly integrated sulfur business now operates under 'WeylChem Bilbao.'

Sulfuric Acid Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 High Demand for Sulfuric Acid in Phosphate-based Fertilizers

      2. 4.1.2 Growing Demand from Chemical and Pharmaceutical Industries

      3. 4.1.3 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Volatility In Raw Material Pricing

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Trade Analysis

    6. 4.6 Feedstock Analysis

    7. 4.7 Regional Production Capacities

  5. 5. MARKET SEGMENTATION (Market Size in Volume)

    1. 5.1 Raw Material Type

      1. 5.1.1 Elemental Sulfur

      2. 5.1.2 Pyrite Ore

      3. 5.1.3 Other Raw Material Types

    2. 5.2 End-user Industry

      1. 5.2.1 Fertilizer

      2. 5.2.2 Chemical and Pharmaceutical

      3. 5.2.3 Automotive

      4. 5.2.4 Petroleum Refining

      5. 5.2.5 Other End-user Industries (Pulp and Paper, Metal Processing)

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Malaysia

        6. 5.3.1.6 Thailand

        7. 5.3.1.7 Indonesia

        8. 5.3.1.8 Vietnam

        9. 5.3.1.9 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

        4. 5.3.2.4 Rest of North America

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 France

        4. 5.3.3.4 Italy

        5. 5.3.3.5 Spain

        6. 5.3.3.6 Nordic

        7. 5.3.3.7 Turkey

        8. 5.3.3.8 Russia

        9. 5.3.3.9 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Colombia

        4. 5.3.4.4 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Nigeria

        4. 5.3.5.4 Qatar

        5. 5.3.5.5 Egypt

        6. 5.3.5.6 United Arab Emirates

        7. 5.3.5.7 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Aarti Industries Limited

      2. 6.4.2 Aurubis AG

      3. 6.4.3 Bodal Chemicals Ltd.

      4. 6.4.4 Boliden Group

      5. 6.4.5 Hindustan Zinc

      6. 6.4.6 Jiangxi Copper Group Co. Ltd.

      7. 6.4.7 KANTO KAGAKU

      8. 6.4.8 Nouryon

      9. 6.4.9 Panoli Intermediates India Private Limited

      10. 6.4.10 PhosAgro Group of Companies

      11. 6.4.11 PVS

      12. 6.4.12 Mosaic

      13. 6.4.13 WeylChem International GmbH

      14. 6.4.14 Yunnan Copper Co. Ltd

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Growing Use of Oleum in Medical and Other Industries

    2. 7.2 Other Opportunities

**Subject to Availability
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Sulfuric Acid Industry Segmentation

Sulfuric acid, denoted by the chemical formula H2SO4, is a potent and corrosive mineral acid. It is colorless, lacks an odor, and exhibits a thick liquid texture. This acid is recognized for its robust reactivity with numerous substances. Its widespread application extends to various industrial processes, showcasing its significance in diverse chemical reactions and manufacturing procedures. The vigorous nature of sulfuric acid reactions underscores its role as a crucial component in numerous industrial sectors.

The sulfuric acid market is segmented by raw material type, end-user industry, and geography. By raw material type, the market is segmented into elemental sulfur, pyrite ore, and other raw material types (metal sulfides, sulfur dioxide). By end-user industry, the market is segmented into fertilizer, chemical and pharmaceutical, automotive, petroleum refining, and other end-user industries (pulp and paper, metal processing). The report also covers the market size and forecasts for the sulfuric acid market in 27 countries across major regions. 

For each segment, the market sizing and forecasts have been done based on volume (tons).

Raw Material Type
Elemental Sulfur
Pyrite Ore
Other Raw Material Types
End-user Industry
Fertilizer
Chemical and Pharmaceutical
Automotive
Petroleum Refining
Other End-user Industries (Pulp and Paper, Metal Processing)
Geography
Asia-Pacific
China
India
Japan
South Korea
Malaysia
Thailand
Indonesia
Vietnam
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
France
Italy
Spain
Nordic
Turkey
Russia
Rest of Europe
South America
Brazil
Argentina
Colombia
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Nigeria
Qatar
Egypt
United Arab Emirates
Rest of Middle-East and Africa
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Sulfuric Acid Market Research FAQs

The Sulfuric Acid Market size is expected to reach 321.05 million tons in 2024 and grow at a CAGR of 3.82% to reach 387.24 million tons by 2029.

In 2024, the Sulfuric Acid Market size is expected to reach 321.05 million tons.

Mosaic, PhosAgro Group of Companies, Aurubis AG, Yunnan Copper Co., Ltd. and Jiangxi Copper Group Co. Ltd. are the major companies operating in the Sulfuric Acid Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia-Pacific accounts for the largest market share in Sulfuric Acid Market.

In 2023, the Sulfuric Acid Market size was estimated at 308.79 million tons. The report covers the Sulfuric Acid Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Sulfuric Acid Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

The Fertilizer Segment is the largest consumer of the Sulfuric Acid Industry.

The end markets for Sulfuric Acid include a) Fertilizer Industry b) Chemical and Pharmaceutical Industry c) Industrial Cleaning and Wastewater Treatment

The Fertilizer Segment is the largest consumer of the Sulfuric Acid Industry.

Sulfuric Acid Industry Report

The global sulfuric acid market, as analyzed by Mordor Intelligence™ Industry Reports, is projected to experience significant growth due to its extensive use in various industries such as agriculture, automotive, petrochemical, metal refining, and textile. Sulfuric acid is a key raw material in the manufacturing process of many popular chemicals like hydrochloric acid, sulfate salts, nitric acid, phosphoric acid, synthetic detergents, dyes, and pigments. It's also used in the production of semiconductors, detergents, and disinfectants, driving the market's growth due to strong demand. However, the market faces challenges due to health and environmental concerns associated with sulfuric acid production and use, including its contribution to acid rain formation. Despite these challenges, opportunities lie in the increasing use of sulfuric acid in wastewater treatment, where it plays a vital role in pH level neutralization and the elimination of solid particles. The market is segmented based on raw material and application, with the elemental sulfur segment and the fertilizers segment accounting for the largest markets. The Asia Pacific region, driven by increased demand for fertilizers in key countries like India and China, is the largest sulfuric acid market in terms of value. For a more detailed analysis, including a market forecast outlook and historical overview, a sample of this industry analysis is available as a free report PDF download.

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Sulfuric Acid Market Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2024 - 2029)