Global Sulfuric Acid Market, 2023-2028
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Market Overview
Sulfuric acid, with the chemical formula H2SO4, is a highly corrosive and strong mineral acid. It is commonly referred to as battery acid or oil of vitriol. Due to its powerful acidic properties, sulfuric acid finds extensive use in various industries.
One of its major applications is in the production of fertilizers, detergents, dyes, pigments, and synthetic fibers. Additionally, it plays a crucial role in the petroleum industry, where it is utilized for refining crude oil and manufacturing various chemicals.
Sulfuric acid is a vital component in the production of lead-acid batteries, which are widely used in automobiles and other applications. It is also employed for pickling and cleaning metals, such as steel, to effectively remove rust and scale before further processing. Furthermore, sulfuric acid finds utility in laboratories and water treatment plants for adjusting the pH of solutions and wastewater. Lastly, it is involved in the production of explosives like nitroglycerin and TNT.
Since the second half of 2020, the global sulfuric acid market has been tightening due to continuous interruptions in smelter acid and sulfuric acid production, coupled with tight sulfur supply and stronger-than-expected demand. This has led to a surge in sulfuric acid prices, with the global market size reaching $28.8 billion in 2022. It is expected that the sulfuric acid prices will mainly experience downward fluctuations in 2023.
The purpose of this report is to offer an updated evaluation of the sulfuric acid market, with a particular emphasis on its raw material type and application segments. The report provides comprehensive and precise estimates and forecasts for the global market, followed by in-depth analyses of the regions, countries, and manufacturers involved. The report aims to provide a detailed overview of the sulfuric acid market, along with the competitive landscape of the market.
Research Coverage
The sulfuric acid market can be categorized based on the type of raw materials used, including base metal smelters, elemental sulfur, pyrite ore, and others sourced from oil and petroleum refineries. Furthermore, the market is segmented based on its applications, which encompass batteries, chemicals, fertilizers, metal processing, petroleum refining, textile, paper and pulp, and others.
A significant portion of the global sulfuric acid production, approximately half, is dedicated to the agriculture and farming sector, specifically in the manufacturing of fertilizers. Sulfuric acid plays a vital role as a key component in the production of phosphate fertilizers like ammonium sulfate and superphosphate of lime. Fertilizers are essential for replenishing the nutrients that crops extract from the soil. Without fertilizers, agricultural productivity and crop yields would be significantly diminished.
Fertilizers serve the purpose of supplementing the soil's nutrient reserves with minerals that crops can readily absorb and utilize. Agriculture is a crucial sector worldwide, providing a primary source of livelihood for many. Countries like India and the United States are experiencing positive growth in this sector. Consequently, the demand for fertilizers is expected to drive the sulfuric acid market during the forecast period.
Competitive Landscape
The report provides a comprehensive overview of the leading market players in the global sulfuric acid market. These include prominent companies such as The Mosaic Company, BASF SE, The OCP Group, Chemtrade Logistics Inc., Yunnan Yuntianhua Co., Ltd., Jiangxi Copper Company Limited, Tongling Nonferrous Metals Group Co., Ltd., PVS Chemical Solutions Inc., Aurubis AG, Hindustan Zinc Limited, Boliden Group, Southern States Chemical, Inc., JSC PhosAgro, Indian Farmers Fertiliser Cooperative Ltd (IFFCO), Korea Zinc Company Limited, Kutch Chemical Industries Limited, Nutrien Limited, Ma'aden, Weylchem International GmbH, Glencore plc, Codelco, J. R. Simplot Company, Rio Tinto Group, Asarco LLC, EuroChem Group AG, Ural Mining and Metallurgical Company, Foskor Ltd., Grupo México, Grupo Fertinal, Hindalco Industries Limited, Paradeep Phosphates Limited, Hubei Yihua Chemical Industry Co., Ltd., Zijin Mining Group Co., Ltd., Yunnan Copper Co., Ltd., and Xinyangfeng Agricultural Technology Co., Ltd., among others.
Additionally, there are numerous other players operating in the global sulfuric acid market, including Young Poong Co., Ltd., Aarti Industries Ltd., Bodal Chemicals Ltd., Nouryon Holding B.V., PQ Group Holdings Inc., Vale S.A., Veolia Environnement S.A., Namhae Chemical Corp., Wylton (China) Chemical Co., Ltd., Guizhou Phosphate Chemical Group, and others. These companies contribute to the competitive landscape of the sulfuric acid market, each bringing their expertise and offerings to the industry.
Key Questions Answered
What is the projected global market size of sulfuric acid by 2028
Which raw material type segment exhibits dominant control and influence
Which application segment possesses the largest market share
Which region segment demonstrates the most significant dominance
Who are the key players with the largest market share in the sulfuric acid market
What is the estimated global market size for the sulfuric acid market in 2023
What is the expected incremental growth of the sulfuric acid market during the forecast period
Which region is expected to have a high growth rate during the forecast period
1. Market Overview
2. Global Sulfuric Acid Market - Raw Material Type Analysis
Base Metal Smelters
Elemental Sulfur
Pyrite Ore
Others (from Oil & Petroleum Refineries)
3. Global Sulfuric Acid Market - Application Analysis
Batteries
Chemicals
Fertilizers
Metal Processing
Petroleum Refining
Textile, Paper and Pulp
Others
4. North America Sulfuric Acid Market
5. Europe Sulfuric Acid Market
6. Asia-Pacific Sulfuric Acid Market
7. Rest of World Sulfuric Acid Market
8. Company Profiles
Research Methodology:
Global Sulfuric Acid Market Size Estimation
To estimate market size and trends, we use a combination of top-down and bottom-up methods. This allows us to evaluate the market from various perspectives—by company, region, product type, and end users.
Our estimates are based on actual sales data, excluding any discounts. Segment breakdowns and market shares are calculated using weighted averages based on usage rates and average prices. Regional insights are determined by how widely a product or service is adopted in each area.
Key companies are identified through secondary sources like industry reports and company filings. We then verify revenue estimates and other key data points through primary research, including interviews with industry experts, company executives, and decision-makers.
We take into account all relevant factors that could influence the market and validate our findings with real-world input. Our final insights combine both qualitative and quantitative data to provide a well-rounded view. Please note, these estimates do not account for unexpected changes such as inflation, economic downturns, or policy shifts.
Data Source
Secondary Sources
This study draws on a wide range of secondary sources, including press releases, annual reports, non-profit organizations, industry associations, government agencies, and customs data. We also referred to reputable databases and directories such as Bloomberg, Wind Info, Hoovers, Factiva, Trading Economics, Statista, and others. Additional references include investor presentations, company filings (e.g., SEC), economic data, and documents from regulatory and industry bodies.
These sources were used to gather technical and market-focused insights, identify key players, analyze market segmentation and classification, and track major trends and developments across industries.
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Primary Sources
As part of our primary research, we interviewed a variety of stakeholders from both the supply and demand sides to gather valuable qualitative and quantitative insights.
On the supply side, we spoke with product manufacturers, competitors, industry experts, research institutions, distributors, traders, and raw material suppliers. On the demand side, we engaged with business leaders, marketing and sales heads, technology and innovation directors, supply chain executives, and end users across key organizations.
These conversations helped us better understand market segmentation, pricing, applications, leading players, supply chains, demand trends, industry outlook, and key market dynamics—including risks, opportunities, barriers, and strategic developments.
Key Data Information from Primary Sources
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