Sulfuric Acid Market, Overview, Growth, Demand and Forecast to 2024-2031

The Sulfuric Acid Market, with a valuation of USD 14,414.40 million in 2022, is anticipated to experience a Compound Annual Growth Rate (CAGR) of 5.5% throughout the forecast period. Sulfuric acid serves as a vital ingredient across diverse industries, playing a fundamental role in chemical production, fertilizer manufacturing, and mining and metallurgical processes.

Sulfuric acid holds indispensable significance in producing various chemicals, including fertilizers like phosphoric acid and ammonium sulfate, detergents, dyes, and pigments. Its utility extends to the mining and metallurgical sectors, facilitating the extraction of metals such as copper, nickel, and uranium. The growth trajectory of these industries directly influences sulfuric acid demand, propelling market expansion.

The fertilizer segment dominates the sulfuric acid market application landscape in 2022. Sulfuric acid is indispensable in producing phosphate fertilizers like superphosphate and triple superphosphate, vital for providing essential phosphorus nutrients to plants. As global agriculture intensifies to meet escalating food demands, the need for phosphate fertilizers and sulfuric acid continues to rise.