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
“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
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Sulfuric Acid Market Segmentation
By Purity Type:
By Raw Materials:
By Application:
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