The North America Sulfuric Acid Market would witness market growth of 4.1% CAGR during the forecast period (2023-2030).In the year 2019, the North America market's volume surged to 10,571.4 kilo tonnes, showcasing a growth of 3.9% (2019-2022).
Sulfuric acid is an indispensable primary material utilized in numerous industries. It is a highly corrosive and potent mineral acid widely used in numerous industries, including producing chemicals, fertilizers, metals, textiles, pulp and paper, and automobiles. It is composed of sulfur, oxygen, and hydrogen, also known as vitriol oil.
The increasing use of agricultural biotechnology to generate both edible crops and feed crops for livestock and poultry is anticipated to increase the demand for nutrient-rich crop yield. The nutrient-dense plants contain iron, minerals, and other proteins that benefit human health and disease prevention. The biofortification of cereals is enhanced by adding suitable mineral or inorganic compounds to fertilizers. The micronutrients in soil are essential for the production of nutrient-rich crops. Utilization of the product to increase food crop yield is anticipated to drive market growth.
Utilizing sulfuric acid to produce phosphate fertilizers increases their efficacy and productivity. Furthermore, high-quality phosphate fertilizers guarantee that crops receive the nutrients necessary for their growth and development. In addition, growing investments in plant facilities due to increased phosphate fertilizer production capacity and tightening environmental regulations are expected to stimulate the market.
North America's market is influenced by industrial growth, applications in different sectors, and environmental regulations. It is primarily used in the manufacturing sector, including in producing fertilizers, chemicals, detergents, and oil refining. Industrial growth in North America could lead to increased demand for sulfuric acid. Sulfuric acid is commonly used in the extraction and processing of these ores, which makes the mining sector a key driver for sulfuric acid demand. Therefore, the region presents lucrative opportunities for the growth of the market in the coming years.
The US market dominated the North America Sulfuric Acid Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2.1 billion by 2030. The Mexico market is poised to grow at a CAGR of 4.6% during (2023 - 2030). Additionally, The Canada market would register a CAGR of 4.4% during (2023 - 2030).
Based on Raw Material, the market is segmented into Elemental Sulfur, Base Metal Smelters, Pyrite Ore and Others. Based on Application, the market is segmented into Fertilizers, Chemical Manufacturing, Metal Processing, Textile Industry, Petroleum Refining, Automotive, Pulp & Paper and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Sulfuric Acid Market is Projected to reach USD 17.9 Billion by 2030, at a CAGR of 3.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include The Mosaic Company, Akzo Nobel N.V., BASF SE, Solvay SA, PVS Chemical Solution, INEOS Group Holdings S.A. (Bilcare Research), and Nutrien Limited
By Raw Material (Volume, Kilo Tonnes, USD Million, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Million, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Million, 2019-2030)
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