황산 시장 평가, 2024-2031년
황산 시장은 다양한 용도로 인해 많은 분야에서 큰 성장을 이루고 있습니다. 황산은 세계에서 가장 많이 생산되고 사용되는 산업용 화학제품 중 하나이며, 비료, 특히 농업 생산에 필수적인 인산 비료 생산에 필요합니다. 세계 인구 증가와 그에 따른 식량 생산 증가 요구로 인해 비료 수요가 증가하고 있으며, 이에 따라 황산에 대한 수요도 증가하고 있습니다. 시장은 2024년 매출 129억 6,000만 달러, 2031년까지 약 171억 2,000만 달러에 달할 것으로 예상됩니다.
이 지역들은 급속한 산업화와 도시화가 진행되고 있으며, 건설, 자동차, 에너지 등 다양한 용도로 대량의 황산을 필요로 하는 산업 활동이 활발해지면서 2024년부터 2031년까지 연평균 3.90%의 성장률을 기록할 것으로 예상됩니다.
황산 시장 정의/개요
황산(H2SO4)은 산업 공정에서 사용되는 가성 및 농도가 높은 화학제품입니다. 무색에서 약간 노란색을 띠는 점성 액체로 다양한 산업에서 널리 사용되고 중요하게 여겨져 '화학의 왕'이라고 불립니다. 황산은 일반적으로 이산화황(SO2)이 삼산화황(SO3)으로 산화되어 물에 흡수되어 산을 생성하는 접촉 공정을 통해 생산됩니다.
인산은 가장 일반적으로 사용되는 산업용 화합물 중 하나이며 다양한 산업에서 사용되고 있습니다. 주요 용도 중 하나는 비료, 특히 인산 비료의 제조입니다. 이 공정에서 황산은 인광석과 결합하여 인산을 생성하며, 인산 일암모늄(MAP) 및 인산이암모늄과 같은 비료의 주요 성분입니다.
황산은 가장 일반적으로 사용되는 산업용 화합물 중 하나이며 다양한 산업에 적용되고 있습니다. 주요 용도 중 하나는 비료, 특히 인산 비료의 제조입니다. 이 과정에서 황산은 인광석과 결합하여 인산을 생성하고, 인산 일암모늄(MAP) 및 인산이암모늄과 같은 비료의 주성분이 됩니다.
세계 황산 시장은 비료 수요 증가로 인해 농업이 주요 견인차 역할을 하며 빠르게 성장하고 있습니다. 이러한 추세는 농업 활동이 확대되고 인구가 증가하는 신흥국에서 특히 두드러집니다. 유엔식량농업기구(FAO)에 따르면 세계 비료 사용량은 2022년까지 2억 100만 톤에 달했으며, 이는 2015년 대비 연간 1.3% 증가할 것으로 예상됩니다. 황산은 인산 비료 생산에서 중요한 성분으로 세계 전체 황산 소비량의 60% 이상을 차지합니다.
세계 최대 비료 소비국인 중국의 농업 농촌부는 2021년 비료 소비량이 전년 대비 2% 증가한 5,490만 톤으로 보고했습니다. 또 다른 중요한 농업 시장인 인도는 비료국에 따르면 2020-21년도 비료 사용량이 3.2% 증가한 6,370만 톤에 달했습니다. 미국 농무부(USDA)는 세계 식량 수요 증가를 충족시키기 위해서는 2050년까지 세계 농업 생산량을 70% 확대해야 하며, 이는 비료, 나아가 황산에 대한 수요를 증가시킬 것으로 예측하고 있습니다.
황산 시장은 특히 생산, 취급 및 응용 작업에서 전문 인력에 크게 의존하고 있습니다. 황산은 비료, 화학 제조, 석유 정제, 금속 가공을 포함한 다양한 산업에서 사용되는 중요한 산업 화학제품으로 부식성이 강하기 때문에 조심스럽게 취급해야 합니다. 황산 제조의 복잡성과 안전한 취급을 이해하는 경험자의 부족은 시장에 큰 장애물이 될 수 있습니다.
유능한 전문가 부족은 황산 부문의 기술 혁신과 기술 발전을 저해할 수 있습니다. 기업들이 환경에 미치는 영향을 줄이기 위해 보다 지속가능하고 효율적인 제조 방법을 모색함에 따라, 기술적으로 숙련된 인재에 대한 수요가 더욱 증가하고 있습니다. 인력 부족은 배출량을 줄이고 황산 생산의 효율성을 높이기 위한 첨단 기술과 방법론의 채택을 제한할 수 있습니다. 이는 특히 신흥국과 같이 황산 수요가 빠르게 증가하고 있는 지역에서는 시장 성장 잠재력을 제한할 수 있습니다.
The sulfuric acid market is experiencing substantial growth due to its wide range of uses in numerous sectors. Sulfuric acid, one of the most frequently produced and used industrial chemicals in the world is needed for the production of fertilizers, notably phosphate fertilizers which are critical for agricultural output. With the growing worldwide population and the resulting requirement for higher food production, the demand for fertilizers has increased, hence increasing the demand for sulfuric acid by enabling the market to surpass a revenue of USD 12.96 Billion valued in 2024 and reach a valuation of around USD 17.12 Billion by 2031.
Rapid industrialization and urbanization in these regions have resulted in increased activity in industries such as construction, automotive, and energy all of which require large volumes of sulfuric acid for varied uses by enabling the market to grow at aCAGR of 3.90% from 2024 to 2031.
Sulfuric Acid Market: Definition/ Overview
Sulfuric acid (H2SO4) is a caustic and dense chemical substance used in industrial processes. It is a colorless to slightly yellow viscous liquid that is dubbed the "king of chemicals" due to its widespread use and importance in a variety of industries. Sulfuric acid is generally produced through the contact process, where sulfur dioxide (SO2) is oxidized into sulfur trioxide (SO3) and absorbed in water to generate the acid.
It is one of the most commonly used industrial compounds with applications across several industries. One of its principal applications is the production of fertilizers, specifically phosphate fertilizers. In this process, sulfuric acid combines with phosphate rock to produce phosphoric acid which is a key component in fertilizers such as monoammonium phosphate (MAP) and diammonium phosphate.
Sulfuric acid is one of the most commonly used industrial compounds with applications across several industries. One of its principal applications is the production of fertilizers, specifically phosphate fertilizers. In this process, sulfuric acid combines with phosphate rock to produce phosphoric acid which is a key component in fertilizers such as monoammonium phosphate (MAP) and diammonium phosphate.
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The global sulfuric acid market is expanding rapidly with agriculture emerging as a key driver due to the increased need for fertilizers. This trend is especially noticeable in developing countries with expanding agricultural activity and rising populations. According to the Food and Agriculture Organization (FAO), global fertilizer usage is expected to reach 201 million tons by 2022, indicating a 1.3% annual increase from 2015. Sulfuric acid is an important component in the manufacturing of phosphate fertilizers, accounting for over 60% of total sulfuric acid consumption worldwide.
In China, the world's top fertilizer consumer, the Ministry of Agriculture and Rural Affairs reported a 2% year-on-year growth in fertilizer consumption in 2021, totaling 54.9 million tons. India, another significant agricultural market, increased its fertilizer usage by 3.2% in the fiscal year 2020-21, reaching 63.7 million tons, according to the Department of Fertilizers. The United States Department of Agriculture (USDA) predicts that global agricultural production will need to expand by 70% by 2050 to fulfill the world's growing food demand, increasing the demand for fertilizers and, as a result, sulfuric acid.
The sulfuric acid market relies heavily on specialized personnel, especially in the production, handling, and application operations. Sulfuric acid, a crucial industrial chemical utilized in a variety of industries including fertilizers, chemical manufacture, petroleum refining, and metal processing must be handled with caution due to its strong corrosiveness. A lack of experienced people who understand the complexity of sulfuric acid manufacturing and safe handling might pose substantial hurdles to the market.
A deficiency of competent experts may impasse innovation and technological progress in the sulfuric acid sector. As firms seek more sustainable and efficient manufacturing methods to reduce environmental effects, the demand for technically skilled individuals grows even more. A lack of competence can limit the adoption of cutting-edge technology and practices aimed at lowering emissions and increasing the efficiency of sulfuric acid production. This could limit the market's growth potential, especially in areas where demand for sulfuric acid is quickly expanding such as emerging economies.
According to VMR analysis, the elemental sulfur sector is expected to have the greatest market share in the raw material segment over the projection period. Elemental sulfur is widely available and one of the most plentiful elements on Earth. Because of its abundance, it is a readily available and economical raw material for the production of sulfuric acid. The biggest sulfur producers are the United States, Canada, Russia, and China ensuring a steady supply for global markets.
Elemental sulfur may be efficiently turned into sulfuric acid resulting in a highly purified product.
The effectiveness of turning elemental sulfur into sulfuric acid helps to minimize production costs.
Furthermore, with increasing environmental concerns and stricter limits on industrial emissions, elemental sulfur provides an advantage. The conversion of elemental sulfur into sulfuric acid emits fewer pollutants than metal smelters or the combustion of pyrite ore. This makes elemental sulfur a more environmentally friendly option for businesses looking to reduce their environmental effect while maintaining standards.
The fertilizer segment is expected to dominate the sulfuric acid market over the forecast period. The world's population is continually expanding creating a bigger demand for food production. This increase necessitates more agricultural output which instantly raises the demand for fertilizers to boost crop yields. Sulfuric acid is required for the manufacturing of phosphoric acid, a crucial component of phosphate fertilizers, hence the demand for sulfuric acid is consistent with agricultural needs.
As the global emphasis on agricultural output quantity and quality develops, farmers are becoming more reliant on effective fertilizers to improve soil nutrition and crop health. Sulfuric acid-based fertilizers help to provide crucial nutrients like phosphorus which is essential for plant energy transfer and photosynthesis, hence improving production. Furthermore, in many countries, governments provide subsidies for agricultural inputs like fertilizers to encourage more efficient and sustainable farming practices.
In What Ways Does Rapid Agricultural Development Propel the Market in the Asia Pacific Region?
The Asia Pacific region dominates the worldwide sulfuric acid market owing to its rapid agricultural development and rising industrial sectors. China and India are the primary drivers of this domination accounting for a sizable percentage of the region's sulfuric acid usage.
Rapid agricultural expansion in the Asia Pacific region is a major driver of the sulfuric acid market. The Food and Agriculture Organization (FAO) reports that agricultural production in the Asia-Pacific region has expanded by 80% over the last two decades.
Furthermore, the Asian Development Bank (ADB) projects that agricultural productivity in the Asia Pacific region will need to increase by 70% by 2050 to meet rising food demand, implying a further increase in sulfuric acid usage for fertilizer manufacturing. Furthermore, the rising industrial sector in the Asia Pacific region drives up demand for sulfuric acid. According to the United Nations Industrial Development Organization (UNIDO), industrial production in the region has increased at an average annual rate of 6.5% over the last decade.
The sulfuric acid market in North America is experiencing rapid growth with the United States leading the region due to its robust industrial sector and increasing demand from various end-use industries. The market is projected to expand at a CAGR of 3.5% from 2021 to 2026, according to the U.S. Geological Survey (USGS). One of the key factors fueling the demand for sulfuric acid in North America is the growing fertilizer industry. The U.S. Department of Agriculture reports that fertilizer consumption in the United States reached 20.8 million nutrient tons in 2022, a 3.2% increase from the previous year.
Furthermore, the rise of the petrochemical industry is driving up demand for sulfuric acid. According to the American Chemistry Council, chemical output volume in the United States climbed by 1.4% in 2022 and is expected to grow by 2.1% in 2023. The United States Environmental Protection Agency estimates that public water systems treat nearly 34 billion gallons of water every day, underlining the continual need for water treatment chemicals such as sulfuric acid.
The Sulfuric Acid Market is a dynamic and competitive space, characterized by a diverse range of players vying for market share. These players are on the run for solidifying their presence through the adoption of strategic plans such as collaborations, mergers, acquisitions, and political support. The organizations are focusing on innovating their product line to serve the vast population in diverse regions.
Some of the prominent players operating in the sulfuric acid market include:
The Mosaic Company
AkzoNobel N.V.
BASF SE
PVS Chemical Solution
Solvay
Agrium, Inc.
INEOS
In August 2022, PVS Chemicals, Inc. and Energy Systems Group, LLC formed a partnership. This cooperation planned to boost the sustainability of its Chicago sulfuric acid business by collecting waste steam and generating 2.6 MW of renewable energy using a steam turbine generator.
In May 2024, Boliden AB, a major European mining and metals company, announced plans to expand sulfuric acid production capacity at its Odda zinc smelter in Norway. This facility aims to meet the growing demand for sulfuric acid in the region's fertilizer and industrial sectors.