Global Sulphuric Acid Market Trends Analysis: The Market Shows a CAGR of 4.56% from 2024 to 2029.

Global Sulphuric Acid Market Overview

According to the Global Market Monitor, the global sulphuric acid market size will reach 10.42 billion in 2024 with a CAGR of 4.56% from 2024 to 2029.Sulfuric acid is kind of a highly corrosive strong mineral acid, generally transparent to slightly yellow, miscible with water, and exothermic at any concentration. Use great caution in mixing with water due to heat release that causes explosions. Always add the acid to water, never the reverse.

Adequate Raw Materials

The raw materials for sulfuric acid production are rich and abundant, including elemental sulfur, pyrite, non-ferrous metal smelting flue gas (containing a certain amount of S02), sulfur, gypsum, hydrogen sulfide, sulfur dioxide, and waste sulfuric acid, etc. At present, elemental sulfur, sulfur, pyrite, and smelting flue gas are the main raw materials. Sulphuric acid is mainly produced from sulfur in the world because of its low cost and less environmental pollution. Pyrite is one of the main raw materials for sulfuric acid production because of its high sulfur content. In addition, some factories use flue gas from non-ferrous metal smelters, mineral sulfur, or sulfur obtained from desulfurization of petroleum and natural gas as raw materials. At the same time, it can also be extracted from cobalt, copper, lead, nickel, zinc, and other mineral raw materials in base metal smelters. This provides abundant raw materials for sulfuric acid production and promotes the development of sulfuric acid manufacturing industry.

Market Drivers

With the development of urbanization and the increase of population all over the world, people expect more and more food crops to increase production. However, due to the reduction of cultivated land and the gradual loss of soil nutrients, there is less and less fertile land for agricultural production, so the demand for fertilizer in the agricultural market is increasing. It is predicted that the demand for the chemical fertilizer industry will vigorously promote the development of the sulfuric acid market in the future. Farmers have to use chemical substances such as chemical fertilizers to increase the yield of crops. As an indispensable part of agriculture, fertilizer can provide nutrients such as potassium, phosphorus, and nitrogen to the soil and help increase grain production. The growth of downstream demand for chemical fertilizer, especially in phosphate fields, will directly increase the market demand for sulfuric acid because sulfuric acid is the key raw material for commercial phosphate fertilizer production.

China Sulfuric Acid Industry Status

According to the China Sulfuric Acid Industry Association data, smelting acid production reached 45 million tons in 2023 with an increase of 7.8%, accounting for 41.2% of total sulfuric acid production, exceeding that of sulfur acid for the first time in history. In terms of consumption, industrial acid consumption was 55.07 million tons, up 7% year-on-year, accounting for 50.4% of total sulfuric acid production, exceeding the amount of acid used in fertilizer for the first time in history, becoming a milestone in the industry. Industrial acid consumption exceeded chemical fertilizer acid for the first time because the growth rate of industrial acid significantly exceeded the recovery rate of chemical fertilizer acid. Thanks to the hot development of new energy, the future demand for the sulfuric acid industry mainly comes from lithium iron phosphate, wet nickel smelting, lithium carbonate, lithium difluorosulfonimide, and other new energy industries. At the same time, with the increasingly perfect port and logistics infrastructure construction required for the export of the industry, sulfuric acid export enterprises will increase year by year. In addition, in 2024, China's sulfuric acid industry has started public rail transport, and the future sulfuric acid industry may explore ways to export by land.

By Type	Reagent Grade
	Industrial Grade
	The industrial grade segment contributes the largest market share.
By Application	Metallurgical
	Oil
	Fertilizer
	Others
	The fertilizer segment occupies the biggest share.

For more industry information, please refer to our latest released "2023 Global Sulphuric Acid Market Analysis Report, Key Competitors, Market Effect Factors, Growth, And Forecast".