H2 2023: In the European market, the price of Sulphuric Acid experienced a decline during the third quarter of 2023. Belgium, in particular, witnessed a decrease in the procurement of sulphur-based fertilizers by downstream markets, leading to a decrease in demand for the product. This decline in demand resulted in an increase in inventory levels. However, there was a slight uptick in price trends due to additional cargo trades in August 2023. Suppliers engaged in bulk purchases and increased trading activities. Demand for Sulphuric Acid from downstream markets such as agrochemicals and dyes intermediates began to rise, driven by high market off-takes and increased trading activities. This increased demand aimed to maintain market sustainability in Europe, impacted the trading dynamics. In the fourth quarter of 2023, the Sulphuric Acid market in Europe encountered a bearish trend, influenced by several key factors. Firstly, there was a surge in bulk trading and consumption from the derivative market, leading to elevated operating specifically, the price of Sulphuric Acid plummeted in Belgium, marking a notable 6.5% decrease from the previous quarter. Overall, Europe's Sulphuric Acid market faced challenges in Q4 2023, driven by various factors impacting prices. The downward price trend was primarily attributed by the sluggish demand from downstream agrochemical sector and sufficient inventory levels.
H1 2023: In the first half of 2023, the Sulphuric Acid market in Europe witnessed fluctuations in prices, particularly evident in Germany where prices experienced a consistent decline from January to March 2023. This downward trend was primarily driven by an oversupply of feedstock, leading to a reduction in production costs. Additionally, there was a notable decrease in demand for Sulphuric Acid from downstream industries, particularly the fertilizers sector. As a result, Sulphuric Acid prices in Europe continued their downward trajectory until the conclusion of the first half of 2023. This decline was attributed to reduced energy costs stemming from a decrease in feedstock, thereby further lowering the production costs of Sulphuric Acid. Furthermore, the fertilizers sector, a key downstream market, exhibited poor demand, further constraining market growth. Despite the downturn in downstream demand, market stability was maintained by stable imports from the global market and ample inventory levels in Europe. These factors collectively contributed to the overall bearish market outlook of the Sulphuric Acid market in Europe during the first half of 2023.
The Europe Sulphuric Acid market demand stood at nearly 25 million tonnes in 2023 and is expected to grow at a CAGR of 2.60% during the forecast period until 2034.
Sulfuric acid plays a pivotal role as the primary ingredient utilized in the production of phosphate fertilizers, including calcium dihydrogen phosphate, diammonium phosphate, and triple superphosphate. The processing of phosphate fertilizers predominantly necessitates raw materials with high sulfur content, making sulfuric acid the preferred choice for this application. In addition to its critical role in phosphate fertilizer production, sulfuric acid finds diverse applications across various industries. In chemical manufacturing, it serves as a key ingredient for producing a wide range of chemicals like nitric acid, and synthetic detergents, often acting as a catalyst in crucial chemical reactions and participating in the synthesis of sulphate salts. Within the petroleum sector, sulfuric acid plays a vital role in refining processes by effectively eliminating impurities from crude oil and petroleum products, particularly Sulphur compounds, thus contributing to the production of cleaner fuels. Moreover, in metal processing operations, including pickling and electroplating, sulfuric acid is instrumental in removing oxides and scale from metal surfaces. This enhances surface preparation and promotes better adhesion of coatings during various metal finishing processes.
The Europe sulfuric acid market experiences various market dynamics contributing to its growth. Firstly, there's an uptick in demand for high-quality fertilizers within the agricultural sector, driven by the need for improved crop cultivation, thus boosting the sulfuric acid market. Additionally, significant growth is observed in chemical industries across Europe, supported by sustainability initiatives like the Green Deal, aimed at promoting innovation and reducing the usage of hazardous chemicals. This strategy enhances growth prospects for the chemicals industry and consequently propels the sulfuric acid market forward. Furthermore, there's a growing demand for sulfuric acid across a diverse array of industries including pharmaceuticals, textiles, paper, and pulp. This increasing demand across multiple sectors is anticipated to drive growth in the Europe sulfuric acid market in the foreseeable future. Thus, Europe Sulphuric Acid market is likely to reach roughly 33 million tonnes in 2034.
Based on the end-user industry, the Europe Sulphuric Acid market is segmented into Phosphate Fertilizers, Metal Processing, Phosphating, Fibres, Paints & Pigments, and Others. The largest market share of Sulphuric Acid goes in Phosphate Fertilizer, which was about 45% in the year 2023.
Major players in the Europe Sulphuric Acid market are Aurubis, Desmet Ballestra, Nuova Solmine S.p.A, Boliden AB, KGHM Polska Miedz S.A., Kazatomprom, Efremov Chemicals, Nyrstar N.V., Outokumpa OY, Priargunsky Industrial Mining, JSC Priyargunsky, UPM-Kymmene, JSC Khiagda, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
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Objective of the Study:
• To assess the demand-supply scenario of Europe Sulphuric Acid which covers production, demand and supply of Sulphuric Acid market in Europe.
• To analyse and forecast the market size of Europe Sulphuric Acid
• To classify and forecast Europe Sulphuric Acid market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Sulphuric Acid market in Europe.
To extract data for Europe Sulphuric Acid market, primary research surveys were conducted with Sulphuric Acid manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Europe Sulphuric Acid market over the coming years.
ChemAnalyst calculated Sulphuric Acid demand across the Europe region by analysing the volume of Sulphuric Acid consumed by the end-user industries and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Sulphuric Acid manufacturers and other stakeholders
• Organizations, forums and alliances related to Sulphuric Acid distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Sulphuric Acid manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Europe Sulphuric Acid market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2023
25 million tonnes
Market size Volume by 2034
33 million tonnes
Growth Rate
CAGR of 2.6% from 2024 to 2034
Base year
2023
Estimated Year
2024
Historical Data
2015 – 2023
Forecast period
2025 – 2034
Quantitative units
Demand in million tonnes and CAGR from 2024 to 2034
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Foreign Trade, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Phosphate Fertilizers, Metal Processing, Phosphating, Fibres, Paints & Pigments, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
Germany, Italy, France, Belgium, Sweden and the Rest of Europe.
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What was the size of Europe Sulphuric Acid market in terms of volume in 2023?
Ans:
The size of Europe Sulphuric Acid market has grown significantly in the historic period and reached approximately 25 million tonnes in 2023.
Q2.
Which industry is leading as the leading consumer of Sulphuric Acid?
Ans:
Phosphate Fertilizers industry is the leading consumer of Sulphuric Acid.
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