The global anhydrous sulphuric acid market size, valued at USD 11.42 billion in 2020 and reach USD 13.47 billion in 2027, registering a sluggish 2.87% CAGR during the forecast period, 2021-2027. Continued demand for phosphate fertilizers from the agricultural industry is majorly sustaining the sales of anhydrous sulphuric acid in the global market. The market for anhydrous sulphuric acid is likely to slightly boost the demand coming in from the automotive industry during the forecast period.
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Factors to be Influencing Performance of Anhydrous Sulphuric Acid Market over Forecast Period:
- The rising demand for higher crop yield and decreasing availability of fertile land due to urbanization has led to increased dependency on fertilizers, especially phosphate fertilizers. This soaring demand for phosphate fertilizers is projected to drive the anhydrous sulphuric acid market over the forecast period.
- The growing application of anhydrous sulphuric acid in the automobile industry to manufacture various types of batteries is projected to induce a slight uptick in the anhydrous sulphuric acid market.
- The increasing stringent government regulations on the usage of anhydrous sulphuric acid, as the production process is environmentally unsustainable, are likely to hinder the growth of the anhydrous sulphuric acid market over the forecast period.
- The increasing investments in development activities related to the chemical synthesis of hydrochloric acid, nitric acid, and phosphoric acid, among other industrial chemicals, are accelerating demand for anhydrous sulphuric acid as raw material, thereby pushing the growth of the market.
- The growing demand for detergents is also expected to propel the growth of the anhydrous sulphuric acid market.
Impact of COVID-19 on Anhydrous Sulphuric Acid Market:
The COVID-19 crisis has significantly affected the anhydrous sulphuric acid market resulting in a decrease in overall demand. The economic slowdown and recession have caused a major decrease in demand for products of the end-use industries, which is expected to negatively impact the anhydrous sulphuric acid market in the initial years of the forecast period. The increasing surplus of sulphuric acid and serious disruption of the entire supply chain are crucial challenges the anhydrous sulphuric acid market is experiencing. Combined cooperative efforts from all the stakeholders are required to curtail them and get the market back on track.
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Scope of the Report
The report outlines the anhydrous sulphuric acid market study based on raw material type, application, and manufacturing.
Based on the raw material type, the anhydrous sulphuric acid market has been segmented into –
- Pyrite Ore
- Elemental Sulfur
- Base Metal Smelters
Based on the application, the anhydrous sulphuric acid market has been segmented into –
- Pulp & Paper
- Chemical Manufacturing
- Metal Processing
- Automotive Battery Acid
- Petroleum Refining and Others
Based on the manufacturing process, the anhydrous sulphuric acid market has been segmented into –
- Single Contact Process
- Wet Contact Process
- Lead Chamber Process
Anhydrous Sulphuric Acid Market: Regional Outlook
Geographically, the anhydrous sulphuric acid market has been segmented into Asia-Pacific, Europe, North America, and the Middle East, and Africa. In 2020, Asia Pacific dominated the global market, followed by North America. Increasing sulfur production in China and Japan and rising demand for anhydrous sulphuric acid from the Philippines and Indonesia will remain the key boosters behind the leading position of Asia Pacific in the global anhydrous sulphuric acid market.
Key Global Anhydrous Sulphuric Acid Market Competitors Includes –
- PVS Chemical Solution (US)
- AkzoNobel N.V. (Netherlands)
- BASF SE (Germany)
- DowDupont (US)
- Agrium Inc. (Canada)
- Aurubis (Germany)
- The Mosaic Company (US).
Some of the anhydrous sulphuric acid market key players are focusing on growth strategies such as expansion, acquisitions, joint ventures, new product lines, and advance technology adaption on a global level to enhance their market share. The report will include an in-depth qualitative and quantitative assessment of the segmental/regional outlook with the market players’ presence in the respective segment and region/country.
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Anhydrous Sulphuric Acid Market Report Covers Comprehensive Analysis On:
- Market Segmentation & Regional Analysis
- Market Size of 10 years
- Pricing Analysis
- Supply & Demand Analysis
- Product Life Cycle Analysis
- Porter’s Five Forces & Value Chain Analysis
- Developed & Emerging Economies Analysis
- PEST Analysis
- Market and Forecast Factor Analysis
- Market Opportunities, Risks, & Trends
- Conclusion & Recommendation
- Regulatory Landscape
- Patent Analysis
- Competition Landscape
- 15+ Company Profiles
Anhydrous Sulphuric Acid Market Regional Analysis Includes:
- North America (US, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
- The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)
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Anhydrous Sulphuric Acid Market: Target Audience
- Sulphuric acid manufacturers, distributors, and vendors
- Companies in the chemical sector
- Agriculture and fertilizer related companies
- Research labs – Universities and Private institutions
- Trade publications and magazines
- Government authorities, associations, and organizations