Top Companies in Sulfuric Acid Market by Size, Share, Historical and Future Data & CAGR | Report by Vantage Market Research
Sulfuric Acid Market is projected to reach USD 17.3 billion by 2028 at a CAGR of 4.9% over the forecast period.
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The Global Sulfuric Acid Market is valued at USD 13 billion in 2021 and is projected to reach USD 17.3 billion by 2028 at a CAGR of 4.9% over the forecast period. Significant industrial chemical Sulfuric Acid is used in the manufacture of numerous goods for a range of purposes. Sulfuric Acid is used in the pulp and paper industry to split heavy oils, create chlorine dioxide, and alter pH levels. Rising investments in the circular economy and sustainable use of marine resources drive the market's revenue growth. Oyster shells are widely used in place of limestone in the building and construction sector, which is boosting this market's revenue growth. Sulfuric Acid is used in automobile batteries to assist them in retaining energy for lengthy periods, resulting in longer battery and vehicle lifespans. Consequently, it is anticipated that the expanding automotive industry would offer attractive prospects for expanding the worldwide Sulfuric Acid Market.
The primary key element influencing the worldwide Sulfuric Acid Market is the rise in demand for Sulfuric Acid from the agricultural sector. Increasing fertilizer output for high crop yields to fulfill the population's rising needs is the primary driver of the market's international expansion.
However, the fluctuating cost of raw materials is a major market restraint for the global sulfuric industry. The price of the raw materials utilized to make Sulfuric Acid serves as a barrier to the growth of the worldwide Sulfuric Acid Market. Additionally, Sulfuric Acid's highly hazardous nature creates transportation challenges, and regulatory restrictions on its use restrain market expansion.
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Amidst Exponential Growth in Sulfuric Acid Adoption, What Trends Should We Look Forward to?
- Expanding the use of Sulfuric Acid in wastewater treatment is one trend that the Sulfuric Acid business anticipates. Sulfuric Acid helps restore pH levels to their normal state and removes solid particles, including polymers, alum, and ferric chloride. Sulfuric Acid is used in chemical treatment to extract water from sludge.
- The demand for food and drink growth is another trend that will persist in the Sulfuric Acid business. Sulfur-based chemicals are widely used to preserve food. They are also utilized as a food additive to extend the shelf life of food goods because of their antioxidant nature.
- The quick adoption of Sulfuric Acidfueled the market growth as fertilizer, which increased crop yield, crop quality, and agricultural production.
- The market for Sulfuric Acid grew quickly due to the widespread adoption of electric vehicles, the automotive industry's rise, and consumer expectations.
The Sulfuric Acid Market is dominated by globally established players such as UBE Industries Ltd. (Japan), Boliden Group (Sweden), Trident Group (India), Tata Chemicals (India), Asia Union Electronic Chemical Corporation (Taiwan), Hubei Xingfa Chemicals Group Co. Ltd. (China), Canada Colors& Chemicals Limited (Canada), Maaden - Saudi Arabian Mining Company (Saudi Arabia), Nouryon (Netherlands), Cornerstone Chemical Company (US), Linde Group (Ireland), Qingdao Hisea Chem Co. Ltd. (China), KMG Chemicals Inc. (US), Seastar Chemicals (Canada), PVS Chemicals Inc. (US), Avantor Performance Materials LLC (US), Aurubis (Germany), Knato Corporation (US), INEOS Group Ltd. (UK), BASF SE (Germany), The Mosaic Company (US), Yunnan Copper Co. Ltd. (China), Jiangxi Copper Group Co. Ltd. (China), Honeywell International Inc. (US), Dupont (US), Cytec Industries (US), Chevron Philips Chemical (US), Akzo Nobel (Netherlands), Bayer (Germany).These companies have developed new products, adopted expansion strategies, and undertaken collaborations, partnerships, and mergers & acquisitions to gain traction in this high-growth Sulfuric Acid Market.
Let's Look at the Top 5 Companies That are Taking the Sulfuric Acid Market by Storm
The Sulfuric Acid Market is expected to grow from USD 13 billion in 2021 to USD 17.3 billion in 2028 due to the agriculture industry's increased need for Sulfuric Acid. The main element fueling the market's expansion globally is an increase in fertilizer output for high crop yields to meet the population's expanding needs.
- UBE Industries Ltd (Japan)
The Japanese chemical company UBE Corporation produces chemicals such as Sulfuric Acid, polymers, battery components, pharmaceuticals, cement, building supplies, and machinery.
- Boliden Group (Sweden)
Boliden has been researching, extracting, and processing basic metals, precious metals, and compounds like Sulfuric Acid for almost 90 years. Its manufacturing is built on expertise, originality, and cutting-edge technology created in partnership with Nordic engineering and technology firms.
- Asia Union Electronic Chemical Corporation(Taiwan)
Asia Union Electronic Chemical Corporation (AUECC), which has been in business since 1998, specializes in ultrapure chemicals for the microelectronics sector. The AUECC facilities in Taiwan, China, and the United States represent the top technology in producing, packaging, and quality assurance of ultrapure chemicals like Sulfuric Acid.
- Canada Colors and Chemicals Limited (Canada)
Established in 1920, Canada Colors and Chemicals (CCC) is an independent provider of chemicals like Sulfuric Acid and polymers. CCC Plastics is the top supplier of Custom colors, additives, compound concentrates, a variety of polyolefin and engineering resins, and more.
- PVS Chemicals Inc. (US)
The company allows our world through the secure and dependable distribution of chemistry produced by PVS Chemicals or obtained from credible partners. Since 1945, we have supplied numerous industries, including electronics, steel, agriculture, metal finishing, water treatment, and food processing, with environmentally friendly solutions like Sulfuric Acid. To improve a product or process, it expertly works with both hazardous and non-hazardous components.
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