The South Korea Sulphuric Acid market in terms of volume was nearly 3250 thousand tonnes in 2023 and is expected to grow at a CAGR of 3.2% during the forecast period until 2034.
Sulfuric Acid is typically produced via the contact process, where Sulphur dioxide reacts with Sulphur in the presence of air. This clear and water-soluble acid finds diverse applications across the chemical, fertilizer, and metallurgical industries. A significant portion of sulfuric acid production is dedicated to manufacturing phosphoric acid, an essential component in the production of phosphate fertilizers. These fertilizers are instrumental in promoting root and seed development, as well as overall plant growth in agriculture. Additionally, sulfuric acid is utilized in petroleum refining and metallurgical processes, underscoring its versatility and significance across various industrial sectors.
The South Korea sulfuric acid market is poised for expansion based on several factors. Firstly, there is an increasing demand for sulfuric acid in various industrial sectors such as chemical manufacturing, fertilizer production, and metallurgy. Additionally, the growing emphasis on agriculture and the use of sulfuric acid-based fertilizers to enhance crop productivity contribute to market growth. Additionally, the petroleum refining industry heavily depends on sulfuric acid for refining processes, efficiently eliminating impurities such as Sulphur compounds from crude oil and petroleum product. Also, the demand for sulphuric acid is driven primarily by its crucial role in cleaning and etching processes for semiconductors and printed circuit boards. Furthermore, the metal processing sector in South Korea employs sulfuric acid across various applications, including pickling and electroplating, which enhance surface preparation and promote better coating adhesion during metal finishing operations. Due to these reasons, the South Korea Sulphuric Acid market size is estimated to reach roughly 4600 thousand tonnes in 2034.
Based on the end-user industry, the South Korea Sulphuric Acid market is segregated into Phosphate Fertilizers, Semiconductor, Metal Processing, Phosphating, and Others. The predominant share of Sulphuric Acid is held by the Phosphate Fertilizers sector, constituting approximately 48% of the entire South Korea Sulphuric Acid market in 2023.
Major players in the South Korea Sulphuric Acid market are Miwon Commercial Co., FarmHannong, LS-Nikko and Korea-Zinc. Main players in the Global Sulphuric Acid market are Aurubis, Boliden AB, Desmet Ballestra, Efremov Chemicals, JSC Khiagda, JSC Priyargunsky, KGHM Polska Miedz S.A., Kazatomprom, Nyrstar N.V., Nuova Solmine S.p.A., Outokumpu OY, Priargunsky Industrial Mining, UPM-Kymmene, 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 Sulphuric Acid which covers production, demand and supply of Sulphuric Acid market in South Korea.
• To analyse and forecast the market size of Sulphuric Acid
• To classify and forecast South Korea 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 South Korea.
To extract data for South Korea 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 South Korea Sulphuric Acid market over the coming years.
ChemAnalyst calculated Sulphuric Acid demand across the South Korea 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, South Korea 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
3250 thousand tonnes
Market size Volume by 2034
4600 thousand tonnes
Growth Rate
CAGR of 3.2% from 2024 to 2034
Base year
2023
Estimated Year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2034
Quantitative units
Demand in thousand 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, Company Share, Foreign Trade, Manufacturing Process.
Segments covered
By End-Use: (Phosphate Fertilizers, Semiconductor, Metal Processing, Phosphating, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
Northern South Korea, Central South Korea, and Southern South Korea
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What will be the size of South Korea Sulphuric Acid market in terms of volume in 2034?
Ans:
The size of South Korea Sulphuric Acid market has grown significantly in the historic period and is likely to reach approximately 3250 thousand tonnes in 2034.
Q2.
Which industry is leading as the leading consumer of South Korea Sulphuric Acid market?
Ans:
Phosphate Fertilizers industry is the leading consumer of South Korea Sulphuric Acid market.
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