Global sulfuric acid demand is expected to augment over the forecast period owing to increasing demand from end use industries. Growing sulfur based fertilizers demand is anticipated to drive sulfuric acid market over next seven years. Rising preference for industrial cleaning agents is also expected to drive market in coming seven years. Rising demand for chemicals from major end use industries such as metal leaching industry, waste water treatment and pulp industry is also expected to augment sulfuric acid market. Inclination towards industrial cleaning agents is also believed to have a positive impact on product demand over the forecast period. Oil and gas industry is expected to expand exponentially in coming seven years, thus augmenting product demand. Expanding paper industry is also expected to increase sulfuric acid demand over the forecast period. Increasing sulfuric acid application in rubber vulcanization is expected to drive sulfuric acid market in industrial sectors. Increasing sulfuric acid applications in household products and consumer goods such as cleaning agents and drain cleaner are also expected to increase product demand. Increasing application of sulphuric acid for battery production in growing automobile industry and for waste water filtration process in industrial sectors is also anticipated to foster sulphuric acid market.
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However, high raw material costs may hinder sulfuric acid market growth over the forecast period. Uncertainty of product demand from end use industries is expected to hamper the market growth. Stringent government regulations regarding sulfuric acid use is also anticipated to curb market growth over coming seven years.
North America and Europe are expected to dominate the sulfuric acid market over the forecast period. Asia Pacific region is expected to witness exponential demand owing to growing consumer products demand from emerging countries such as India, Japan & China. Latin American markets such as Brazil and Argentina also offer growth potential for sulphuric acid market owing to rapid industrialization.
Key players operating in sulfuric acid market are Potash Corp (PCS Phosphate), The Mosaic, Chemtrade Logistics, Langeloth International, Chemtrade Refinery Services, Climax Molybdenum and Valero Energy, DuPont de Nemours & Co, CF Industries, Tampa Electric, PVS Chemical Solution, Lucite International and Southern States Chemical.
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