U.S. Sulfuric Acid Market will reach US$ 4,147.4 Million by 2032 Due to Surging Demand for Fertilizers in Chemical Industry

PRESS RELEASE
Published February 24, 2023

According to FMI, the U.S. sulfuric acid market is slated to grow at a sluggish CAGR of 2.8% over the forecast period. Sales in the market are anticipated to be around US$ 3,156.8 Mn in 2022. The market opportunity for sulfuric in the U.S. will reach US$ 4,147.4 Mn by 2032. The historical market valuation for the U.S. sulfuric acid market for the base year 2021 was US$ 3,054.6Mn.

Sulphuric acid sales in the U.S. are expected to be driven by the surging demand for fertilizers in chemical and pharmaceutical industries. There is a notable increase in the need for fertilizers, pesticides, and insecticides in these sectors. As sulphuric acid is used in the production of phosphate fertilizer as well as insecticides and pesticides, demand for pesticides and insecticides in residential sector will aid the sales over the assessment period of 2022–2032.

Growing need from the agricultural sector regarding high crop yield and outstanding food quality will necessitate the sales of fertilizer, fueling the demand in the U.S. sulfuric acid market. Further, significant growth in the manufacturing and chemical industries, an increase in the sales of electric cars, and the strong presence of leading sulfuric acid manufacturers will boost the market.

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Key Takeaways from the Sulfuric Acid Market

  • The U.S. market for sulfuric acid is anticipated to grow at a CAGR of 2.3%, in terms of volume, during the forecast period.
  • The U.S. sulfuric acid market reached a valuation of US$ 3,054.6 Mn in 2021.
  • In terms of volume, the U.S. is expected to register around 43,162.3 KT of sulfuric acid demand in 2022.
  • The US is expected to hold around 90.4% of the total sulphuric acid market share by the end of 2032.

“Due to increasing application of sulfuric acid in fertilizer, chemical manufacturing, paper & pulp, and automotive industries as a catalyst, dehydrating agent, and reactant will catapult the growth in the U.S. sulfuric acid market. Hence, key players are likely to collaborate with the U.S. end users to capitalize on the untapped potential” – Says an FMI Analyst

Competition Landscape in the Sulfuric Acid Market

To enhance their market presence, the leading participants are strategically focused on acquisitions, partnerships, and regional expansion. To increase their revenue share, small and medium-sized manufacturers are emphasizing on expanding their product portfolio and introducing at an affordable rates.

WeylChem International GmbH, DuPont Clean Technologies, The Mosaic Company are some of the key players identified in the sulphuric acid market.

Recent Developments

  • In May 2022, WeylChem International GmbH has completed the acquisition and integration of INEOS Sulfur Chemicals Spain SLU, the main Spanish sulphur chemicals arm of INEOS companies. The newly acquired company includes a cutting-edge facility in Bilbao with a 350,000 tons yearly capacity for the production of sulfuric acid. The newly combined sulphur company is currently known as “WeylChem Bilbao.”
  • In November 2019, DuPont Clean Technologies (the US), a leading company in process technology licensing and engineering, revealed that its sulphuric acid technology – MECS – has been selected by NioCorp Developments Ltd., a prominent mineral development company in Canada. The Superalloy Materials Project of NioCorp in southeast Nebraska would employ MECS technology. To ensure best-in-class environmental performance, the MECS sulphuric acid plant will be built to enhance energy recovery and emissions management.

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Sulfuric Acid Market Segmentation

By Purity Type:

  • Standard
  • Ultra-Pure

By Raw Materials:

  • Elemental Sulfur
  • Base Metal Smelters
  • Pyrite Ores
  • Others

By Application:

  • Fertilizers
  • Petroleum Refining
  • Metal Production & Processing
    • Steel Pickling
    • Copper Production
    • Metal Surface Cleaning
    • Others
  • Wastewater Treatment
  • Chemicals Production
  • Textile Processing
  • Pulp & Paper Production
  • Semiconductor & Electronics
    • Battery Electrolyte
    • Integrated Circuit Components Fabrication
    • Photovoltaic Cells
  • Pharmaceuticals
  • Domestic Cleaning Products
  • Others

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