The Europe Sulfuric Acid Market would witness market growth of 4.1% CAGR during the forecast period (2023-2030).In the year 2020, the Europe market's volume surged to 6,880.3 kilo tonnes, showcasing a growth of 3.8% (2019-2022).
Sulfuric acid is used to produce inorganic phosphate fertilizers, including ammonium sulfate and superphosphate of lime. It is also utilized to produce mono ammonium phosphate (MAP) and diammonium phosphate (DAP), which increase crop yields through tilling. Automobile production is increasing due to the burgeoning population and disposable incomes. Consequently, the rising demand for products from the automotive industry is anticipated to contribute to market expansion over the forecast period.
Sulfuric acid is a standard reagent in many laboratory procedures and analytical techniques. It is used in titrations, sample preparation, and various chemical analyses. As a DNA-damaging agent, sulfuric acid is utilized to produce chemotherapy drugs. As an ingredient in topical ointments, sulfuric acid can treat various skin infections, including canker sores caused by stress, acidic foods, or minor trauma.
The market in Europe is shaped by a combination of industrial activity, regulatory frameworks, and innovation in end-user sectors. The chemical sector is a significant user of sulfuric acid, both as a reagent and a catalyst, and this industry is relatively robust in Europe, especially in countries like Germany and France. According to the Government of UK, the core biopharmaceutical industry produced £40.8 billion in revenue in 2021, or 43% of the total for the life sciences sector. Thus, the leadership of various regional nations in different industries will generate growth potential. Thereby propelling the expansion of the regional market.
The Russia market dominated the Europe Sulfuric Acid Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $768.6 million by 2030. The France market is estimated to grow at a CAGR of 4.6% during (2023 - 2030). Additionally, The Germany market would exhibit a CAGR of 3.6% 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 Russia, France, Germany, UK, Spain, Italy, and Rest of Europe.
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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