Inorganic Acid Market Is Expected To Reach USD 84.0 Bn By 2033

Updated · Jan 7, 2025

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Table of Contents

Overview
Key Takeaways
Key Market Segments
Regional Analysis
Recent Developments
Conclusion

Overview

New York, NY – January 7, 2025 – The Global Inorganic Acid Market is expected to experience significant growth, with its size projected to reach approximately USD 84.0 Billion by 2033, up from USD 50.1 Billion in 2023, reflecting a compound annual growth rate (CAGR) of 5.3%.

This growth is driven by the rising demand across various industries, including agriculture, chemicals, and pharmaceuticals, where inorganic acids play a crucial role in production processes and formulations. The market’s expansion is further supported by the increasing adoption of inorganic acids in the manufacture of fertilizers, detergents, and metal processing, along with their use in water treatment and as catalysts in chemical reactions.

Popularity is also on the rise due to their cost-effectiveness and versatility. Emerging economies are contributing to the growth as industrialization ramps up, increasing demand for these acids. Additionally, innovation in production technologies and the rise of new application sectors are creating numerous opportunities within the market. As industries continue to expand and diversify, inorganic acids are expected to remain a fundamental part of industrial processes, positioning the market for continued expansion in the coming years.

Key Takeaways

Inorganic Acid Market size is expected to be worth around USD 84.0 Bn by 2033, from USD 50.1 Bn in 2023, growing at a CAGR of 5.3%.
Sulfuric Acid held a dominant market position, capturing more than a 38.4% share.
Monobasic acids held a dominant market position in the inorganic acid sector, capturing more than a 56.3% share.
Strong Acids held a dominant market position in the inorganic acid industry, capturing more than a 78.1% share.
Industrial Grade held a dominant market position, capturing more than a 51.2% share of the inorganic acid market.
Agrochemicals and Fertilizers held a dominant market position in the inorganic acid industry, capturing more than a 38.4% share.
Agriculture held a dominant market position in the inorganic acid industry, capturing more than a 28.3% share.
Direct Sales held a dominant market position in the inorganic acid market, capturing more than a 51.2% share.
Asia Pacific (APAC) holds a dominant position in the inorganic acid market, accounting for approximately 42.3% of the market share and generating revenue of USD 21.2 billion.

Key Market Segments

In 2023, Sulfuric Acid dominated the market with over 38.4% share, driven by its use in fertilizers, chemicals, and petroleum refining. Hydrochloric Acid is key for steel pickling and ore processing, while Nitric Acid is crucial for fertilizers and explosives. Phosphoric Acid supports agriculture and food processing, Boric Acid serves glass and ceramics, and Hydrofluoric Acid is vital for high-purity fluorine compounds.
Monobasic Acids led with a 56.3% market share, widely used in fertilizers and chemicals. Dibasic Acids, like sulfuric acid, are critical for batteries and wastewater treatment. Tribasic Acids, such as phosphoric acid, dominate fertilizer and food applications.
Strong Acids held 78.1% of the market, vital for high-reactivity needs in metal processing and fertilizers. Weak Acids, like boric acid, are key for milder applications in pharmaceuticals and food.
Industrial Grade acids dominated at 51.2%, followed by Technical Grade for high-purity needs in textiles and rubber. Food Grade acids gained traction in food processing, while Pharmaceutical and Electronic Grades saw growth in healthcare and electronics.
Agrochemicals and Fertilizers led with a 38.4% market share, followed by Metal Processing, Lead Battery Manufacturing, and Dyes and Pigments. Other uses include Petroleum Refining and Explosives.
Agriculture dominated with 28.3%, followed by Paints and Coatings, Pulp & Paper, and Chemical and Petrochemical industries. Growth was also notable in Pharmaceuticals, Food & Beverages, and Electronics.

Regional Analysis

Asia Pacific (APAC) leads the inorganic acid market with a 42.3% share and revenue of USD 21.2 billion, driven by rapid industrialization, urbanization, and high demand in the agricultural sector for fertilizers, particularly in China and India. North America follows, supported by advanced manufacturing, stringent environmental regulations, and strong technological infrastructure.

Europe sees steady growth, driven by mature automotive and construction industries and a focus on sustainable chemical formulations. The Middle East & Africa (MEA) shows moderate growth due to its expanding oil and gas sectors. Latin America is poised for growth, fueled by mining, metal processing, and investments in agricultural technologies.

Recent Developments

PPG Industries, a global leader in paints, coatings, and specialty materials, reported record net sales of $18.2 billion in 2023, marking a 3% increase from 2022. The company’s adjusted earnings per diluted share (EPS) reached a record $7.67, up from $6.12 in 2022. Operating cash flow also hit a record high of over $2.4 billion, more than doubling the previous year’s figure. These achievements were driven by higher selling prices and strategic growth initiatives, including a focus on innovative products for electric vehicles and powder coatings.
Nouryon, a global leader in specialty chemicals, has made significant strides in the inorganic acid sector, particularly through its production of high-quality acid products used in industries like agriculture, automotive, and energy. The company has been focusing on sustainability and innovation in this sector, aiming for a 5% reduction in CO2 emissions by 2024. Nouryon also strengthened its market position through strategic partnerships and investments in R&D, increasing its global reach to over 80 countries.
BASF is a leading player in the hydrogen peroxide sector, supplying chemicals to various industries including pulp and paper, textiles, and environmental management. The company focuses on providing sustainable solutions, offering high-purity hydrogen peroxide for applications such as water treatment and bleaching. Their global reach and advanced technologies make them a major force in the market.
Huntsman Corporation is a global manufacturer of specialty chemicals, including hydrogen peroxide. They supply the compound to industries like paper and textiles, where it’s used for bleaching. Huntsman’s approach emphasizes innovation and customer-specific solutions, helping companies meet environmental and performance standards. Their hydrogen peroxide is also key in the production of various chemical intermediates.
Kemira Oyj is a Finnish multinational company that produces hydrogen peroxide primarily for the pulp and paper industries. They provide high-quality hydrogen peroxide for bleaching applications and focus on sustainability. Their product range includes solutions for water treatment and industrial applications, positioning Kemira as a key supplier in the hydrogen peroxide market with an emphasis on green chemistry.

Conclusion

The Inorganic Acid Market continues to show steady growth due to its wide applications across various industries such as chemicals, pharmaceuticals, agriculture, and water treatment. Key products like sulfuric acid, hydrochloric acid, and nitric acid remain essential for industrial processes, with increasing demand driven by advancements in manufacturing and environmental initiatives. As industries push for cleaner and more efficient processes, there’s also a growing emphasis on sustainable production methods for inorganic acids.