Asia-Pacific Sulfuric Acid Market, By Raw Material (Base Metal Smelters, Elemental Sulfur, Pyrite Ore and Others), Form (Concentrated, 66 Degree Baume Sulfuric Acid, Tower/Glover Acid, Chamber/Fertilizer Acid, Battery Acid and Dilute Sulfuric Acid), Manufacturing Process (Contact Process, Lead Chamber Process, Wet Sulfuric Acid Process, Metabisulfite Process and Others), Distribution Channel (Offline and Online), Application (Fertilizers, Chemical Manufacturing, Petroleum Refining, Metal Processing, Automotive, Textile, Drug Manufacturing, Pulp & Paper, Industrial And Others) - Industry Trends and Forecast to 2030.
Asia-Pacific Sulfuric Acid Market Analysis and Size
Sulfuric acid is a colorless, odorless, and viscous liquid soluble in water at all concentrations. It is a strong acid made by oxidizing sulfur dioxide solutions and used in large quantities as an industrial and laboratory reagent. Sulfuric acid or sulfuric acid, also known as oil of vitriol, is a mineral acid composed of sulfur, oxygen, and hydrogen, with molecular formula H2SO4 and melting point is 10 °C, the boiling point is 337 °C. Increasing demand for fertilizers in the agriculture industry and the growing demand for sulfuric acid across various industries expected to boost the market during forecast period of 2023 to 2030.
Data Bridge Market Research analyses that the Asia-Pacific sulfuric acid market was valued at USD 9.59 billion, by 2022 and is expected to reach the value of USD 12.73 billion by 2030, at a CAGR of 6.7% during the forecast period of 2023 to 2030. “Base metal smelters” segment is expected to dominate the market due to Increasing demand for high-quality fertilizers for crop cultivation boosts the Asia-Pacific sulfuric acid market. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Asia-Pacific Sulfuric Acid Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Raw Material (Base Metal Smelters, Elemental Sulfur, Pyrite Ore and Others), Form (Concentrated, 66 Degree Baume Sulfuric Acid, Tower/Glover Acid, Chamber/Fertilizer Acid, Battery Acid and Dilute Sulfuric Acid), Manufacturing Process (Contact Process, Lead Chamber Process, Wet Sulfuric Acid Process, Metabisulfite Process and Others), Distribution Channel (Offline and Online), Application (Fertilizers, Chemical Manufacturing, Petroleum Refining, Metal Processing, Automotive, Textile, Drug Manufacturing, Pulp & Paper, Industrial And Others)
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Countries Covered
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Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia and Rest of Asia-Pacific
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Market Players Covered
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LANXESS (Germany), Brenntag GmbH (Germany), Boliden Group (Sweden), Adisseo (France), Veolia (France), Univar Solutions Inc (U.S.), NORAM Engineering & Construction Ltd. (Canada), Nouryon (Netherlands), International Raw Materials LTD (U.S.), Eti Bakir (Turkey), ACIDEKA SA (Spain), Airedale Chemical Company Ltd (U.K.), BASF SE (Germany), Aguachem Ltd (U.K), Feralco AB (U.K.), Fluorsid (Italy), Aurubis AG (Germany), Nyrstar (Netherlands), Merck KGaA (Germany), and Shrieve (U.S.)
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Market Opportunities
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Market Definition
Sulfuric acid is a strong acid with hygroscopic characteristics and oxidizing properties. It is used in the fertilizer, chemical, synthetic textile, and pigment industries. Other applications include manufacturing batteries metal pickling, among other industrial manufacturing processes. In market sulfuric acid is available in different concentration grades such as 98%, 96.5%, 76%, 70% and 38%. A large quantity of sulfuric acid produces potassium sulfates and fertilizers. Increasing demand for fertilizers in the agriculture industry and the growing demand for sulfuric acid across various industries are some of the drivers boosting sulfuric acid demand in the market. With the increasing consumption of sulfuric acid globally, major players are expanding their production capacities in different countries to strengthen their presence in the market.
Asia-Pacific Sulfuric Acid Market Dynamics
Drivers
- Increasing Demand for Fertilizers in Agricultural Industry
Increasing demand for high-quality fertilizers for crop cultivation boosts the Asia-Pacific sulfuric acid market and acts as one of the major factors driving the growth of Asia-Pacific sulfuric acid market.
- Significant Growth in Chemical Industries
Increasing chemical production in the European region with a chemicals strategy for sustainability is a prominent part of the Green Deal to strengthen the growth of the chemicals industry, making it easier to avoid usage of hazardous chemicals and encourage innovation for the development of safe and sustainable alternatives. Thus, a strategy for sustainability in the chemicals industry can help keep the significant growth in the chemical industry and propel the Asia-Pacific sulfuric acid market in the coming years.
Opportunity
- Significant Growth in Healthcare Industry
The increasing advantages of sulfuric acid batteries in motor vehicles and other machines in electric vehicles are increasing the demand for sulfuric acid, creating an opportunity for the Asia-Pacific sulfuric acid market to tap upon and register higher growth in the future.
Additionally, with increased demand for the recovery of waste printed circuit boards using sulfuric acid to recover different metals such as gold, silver, iron, and copper is expected to drive the Asia-Pacific sulfuric acid market.
Restraint/Challenge
- Decline in Sales Resulting from Oversupply of Sulfuric Acid
The undersupply of sulfuric acid in the Asia-Pacific sulfuric acid market is the biggest problem being faced by key manufacturers operating in the market, which is directly impacting their sales and profit margins as oversupplied with other producers has led to a decrease in the prices. This is acting as the biggest challenge in the Asia-Pacific sulfuric acid market growth.
Recent Development
- In November 2020, Airedale Chemical Company Limited acquired Alutech, which provides a range of metal treatment solutions, including aluminum brighteners and pre-treatment cleaners. This development helps the company increase the demand for sulfuric acid, which has increased its profits
Asia-Pacific Sulfuric Acid Market Scope
The Asia-Pacific sulfuric acid market is segmented on the basis of raw material, form, manufacturing process, distribution channel, and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Raw Material
- Base Metal Smelters
- Elemental Sulfur
- Pyrite Ore
- Others
Form
- Concentrated (98%)
- Tower/Glover Acid (77.67%)
- Chamber/Fertilizer Acid (62.8%)
- Battery Acid (33.5%)
- 66 Degree Baume Sulfuric Acid (93%)
- Dilute Sulfuric Acid (10%)
Manufacturing Process
- Contact Process
- Lead Chamber Process
- Wet Sulfuric Acid Process
- Metabisulfite Process
- Others
Distribution Channel
- Offline
- Online
Application
- Fertilizer
- Chemical Manufacturing
- Petroleum Refining
- Metal Processing
- Automotive
- Textile
- Drug Manufacturing
- Pulp & Paper
- Industrial
- Others
Asia-Pacific Sulfuric Acid Market Regional Analysis/Insights
Asia-Pacific sulfuric acid market is analyzed and market size insights and trends are provided by raw material, form, manufacturing process, distribution channel, and application as referenced above.
The countries covered in the Asia-Pacific sulfuric acid market report are the Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia and Rest of Asia-Pacific.
In Asia-Pacific region, China is dominating the Asia-Pacific sulfuric acid market as China is the largest producer of Sulfuric acid and China is the house to many large industries, which use sulfuric acid in their operations. Therefore, there is a huge consumption of sulfuric acid in China.
The country section of the report also provides individual market impacting factors and changes in regulations in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Asia-Pacific Sulfuric Acid Market Share Analysis
The Asia-Pacific sulfuric acid market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to Asia-Pacific sulfuric acid market..
Some of the major players operating in the Asia-Pacific sulfuric acid market are:
- LANXESS (Germany)
- Brenntag GmbH (Germany)
- Boliden Group (Sweden)
- Adisseo (France)
- Veolia (France)
- Univar Solutions Inc (U.S.)
- NORAM Engineering & Construction Ltd. (Canada)
- Nouryon (Netherlands)
- International Raw Materials LTD (U.S.)
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