The surfuric acid global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Surfuric Acid Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The surfuric acid market size has grown strongly in recent years. It will grow from $14.74 billion in 2023 to $16.12 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to industrial revolution, fertilizer manufacturing, industrialization, infrastructure development, increased battery production.
The surfuric acid market size is expected to see strong growth in the next few years. It will grow to $22.73 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to supply chain optimization, emerging market growth, energy sector shifts, global economic conditions, fertilizer production. Major trends in the forecast period include innovative industrial applications, chemical manufacturing, metallurgical processes, wastewater treatment, green initiatives.
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Scope Of Surfuric Acid Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Surfuric Acid Market Overview
Market Drivers –
The rapid acceptance of electric vehicles is expected to propel the growth of the sulfuric acid market going forward. An electric vehicle refers to a form of transportation that runs on electricity. Electric cars and trucks use an electric motor powered by electricity from batteries or a fuel cell, as opposed to traditional vehicles that use a gasoline (petrol) or diesel-powered engine. Sulfuric acid is used in producing lead acid batteries, primarily for automobiles and electric vehicles, that leads to an increasing demand for sulfuric acid. For instance, in June 2022, according to a report shared by the International Council on Clean Transportation, a US-based independent nonprofit organization, EV sales reached a new high of 6.9 million globally in 2021, an increase of 107% from the previous year. Furthermore, according to the Global EV Outlook 2022 report, electric vehicle (EV) sales had doubled from the last year in 2021, reaching a new high of 6.6 million. Therefore, the rapid acceptance of electric vehicles across the region is driving the growth of the sulfuric acid market.
Market Trends –
Expansion of production plants with advance technology has emerged as a key trend gaining popularity in the sulfuric acid market. Major companies operating in the market are focused on introducing new sulfuric acid plants with the help of new technologies to sustain their position in the market. For instance, in October 2022, Andritz AG, an Austria-based technology group, made the world’s first sulfuric acid plant for Klabin’s Ortigueira mill in Brazil. The plant can produce 150 metric tonnes of commercial-grade (>98%) sulfuric acid daily from concentrated odorous vapors and elemental sulphur. This plant’s technology is based on Andritz’s self-created A-Recovery+ idea, enabling pulp mills to extract side streams from the pulping process and transform them into commercial goods and commodities. The facility is part of Andritz’s CircleToZero product line, which aims to remove waste byproducts, create new goods with added value, and set the framework for zero-emissions, zero-waste production.
The surfuric acid market covered in this report is segmented –
1) By Raw Material Type: Elemental Sulfur, Pyrite Ore, Base Metal Smelters, Other Raw Material Types
2) By Form Type: Concentrated, Tower or Glover acid, Chamber or Fertilizer Acid, Battery Acid, 66 Degree Baume Sulfuric Acid, Dilute Sulfuric Acid
3) By Purity Type: Standard, Ultra-Pure
4) By End-User Industry: Fertilizer, Metal Processing, Pulp and Paper, Petroleum Refining, Textile Industry, Automotive, Chemical Manufacturing, Other End-User Industries
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Regional Insights –
Asia-Pacific was the largest region in the sulfuric acid market in 2023. The regions covered in the surfuric acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the surfuric acid market report are Aurubis AG, BASF SE, Boliden AB, Canada Colors and Chemicals Limited, Cornerstone Chemical Company, Hubei Xingfa Chemicals Group Co. Ltd., Kanto Corporation., KMG Chemicals Inc., Linde plc, Ma’aden – Saudi Arabian Mining Company, Nouryon B.V., PVS Chemicals Inc., Seastar Chemicals Inc., Tata Chemicals Limited, Trident Group, UBE Corporation, Akzo Nobel N.V., Chemstar Products Company, Chemtrade Logistics Income Fund, A Freeport-McMoRan Company, Covestro AG, EuroChem Group AG, Global Energy Commodity Resources, Grillo-Werke AG, Ineos Group Limited, J.M. Huber Corporation, McCain Foods Limited, Mosaic Company, Peabody Energy Corp., Potash Corporation, Praxair Inc., Solvay SA, Southern Copper Corporation
Table of Contents
1. Executive Summary
2. Surfuric Acid Market Report Structure
3. Surfuric Acid Market Trends And Strategies
4. Surfuric Acid Market – Macro Economic Scenario
5. Surfuric Acid Market Size And Growth
…..
27. Surfuric Acid Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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