Sulfuric Acid Market Report Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

 

Sulfuric Acid Market
Sulfuric Acid Market

It is anticipated that the demand for fertilisers and agrochemicals will increase due to significant population growth and the global reduction of arable land. Sulfuric acid is primarily consumed by the fertiliser industry. Thus, over the course of the forecast period, rising fertiliser demand will eventually spur the growth of the sulfuric acid market. Similar to this, manufacturers of sulfuric acid are anticipated to benefit greatly from the rapid expansion of the metal industry and the growing recognition of sulfuric acid as an extremely potent acid.

Due to the sharp rise in demand from specific end-use industries, such as the automotive, construction, and other industries, metal use is expanding quickly. The metal extraction industry is expanding its production capacity to meet the rising demand for metals. Sulfuric acid is widely used in the production and processing of metals, which is creating a favourable environment for the market's growth.

In 2018, North America accounted for a sizeable portion of the global sulfuric acid market. This is attributed to an increase in sulfuric acid demand for fertiliser production, which is predicted to propel the growth of the sulfuric acid market in North America. For instance, the Food and Agriculture Organization estimates that the United States used 40 million tonnes of phosphate fertiliser in 2012 and 42.5 million tonnes in 2016. In this area, there is a high demand for sulfuric acid due to rising phosphate fertiliser use. A steady increase in market share is also anticipated for Central & South America due to the area's rapid industrialization.

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