The global sulfuric acid market is expected to grow from US$14.991 billion in 2025 to US$17.702 billion in 2030, at a CAGR of 3.38%.
Sulfuric acid is very strong and has both hygroscopic and oxidizing properties. The other name for this acid is oil vitriol or mottling acid. At higher temperatures, this acid acts as an oxidizing and dehydrating agent. Sulfuric acid is water soluble and releases heat when dissolved in water.
The major use of sulfuric acid is in agriculture and farming, especially as a fertilizer. Products such as ammonium sulfate and superphosphate of lime that are mainly used in manufacturing phosphate-based fertilizers are made using sulfuric acid. According to the World Bank, the fertilizer consumption in kilograms per hectare of arable land was 146.4 kgs in the world in 2020. The use of fertilizers is growing year-by-year in the agricultural sector, which is expected to increase sulfuric acid consumption.
The growing use of fertilizer to produce food products, coupled with increased government investment in the production of sulfuric acid, is expected to increase the market share in the coming years.
According to the National Bureau of Statistics China, phosphate, nitrogen, and potash fertilizer production increased in volume from 55.44 million tons in 2021 to 54.96 million tons in 2020. Additionally, as per the Fertilizer Association of India, the use of fertilizers in 2021-22 was 63.94 million metric tons in India. The use of fertilizer saw a decline of 5.94% in 2021-22 but is expected to regain in the coming years. With the increasing food production in the country, the fertilizer industry is anticipated to grow in the projected period. As the use of fertilizers increases in various countries, the use of sulfuric acid is also expected to increase in the coming years. The rising urban population and growing number of people in urban areas are also rapidly boosting the demand for fertilizers, which will increase the use of sulfuric acid and result in sulfuric acid market growth.
This growth is primarily attributed to the rapid demand for sulfuric acid from various Industries such as pharmaceutical, paper, pulp, and textile, among others. Furthermore, the rising demand for recovery of waste printed circuit boards using sulfuric acid is a major factor promoting the growth in China market.
In line with the evolving market demands, numerous players are scaling up their operations to meet emerging requirements and offer improved services and solutions. Notable developments from the market include collaboration among major players such as Zhejiang Jiahua Energy Chemical Industry Co. Ltd., Zhejiang Jiafu New Material Co. Ltd, and BASF to expand the current production capacity of electronic-grade sulfuric acid in the China region.
Furthermore, the extensive applications of sulfuric acid for fertilizer usage, chemical manufacturing, metal processing, Automotive & petroleum refining are some of the top sectors that will determine the growth of the market till the forecast period. Also, stringent guidelines for controlling emissions will drive market growth. According to the International Fertilizer Industry estimates, east Asia is the fastest growing segment in terms of Fertilizer (NPK) consumption with 61.94K Kilo tonnes. Based on estimates, South Asia stood second in terms of Fertilizer (NPK) consumption.
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