According to FMI, the sulfuric acid market in Japan is expected to grow at a modest pace of 3.3% CAGR during the forecast period. Sales of sulfuric acid in Japan as of 2022 are projected to reach US$ 604.6 Mn. By 2032, it is expected that the market for sulfuric acid in Japan will surpass US$ 834.6 Mn. For the base year, a historical market valuation of US$ 586.6 Mn has been observed.
Metal production and the mining sectors are poised to expand on the back of growing demand for metals in textile processing, semiconductor, and other applications. Demand for metals is also expected to rise due increasing residential and commercial construction, highway construction, infrastructure development, and automobile manufacturing in Japan.
As sulfuric acid is increasingly used to remove oxidation from iron and steel, end users are using this to prevent corrosion, especially in textile and automotive industries. Backed by these factors, the production of sulfuric acid in Japan is anticipated to reach 14,502.4 KT by the end of 2032.
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Key Takeaways from the Sulfuric Acid Market
- The sulfuric acid market in Japan is expected to grow slowly, with a CAGR of 3.3% during the forecast period.
- In the base year, the market for sulfuric acid in Japan was valued at US$ 586.6 Mn.
- The sulfuric acid market in Japan is expected to reach a high of US$ 834.6 Mn by the end of 2032.
- In terms of volume, Japan sulfuric acid market is going to reach 14,502.4 KT in 2032.
“Ongoing growth in metal treatment and pickling of steel to meet rising demand by recycling the steel and metals is expected to boost demand in Japan. To compete with each other, key players are leveraging acquisition and are setting up new production lines to capitalize on the existing trend.” – Says an FMI Analyst.
Competition Landscape in the Sulfuric Acid Market
The companies in the Japan sulfuric acid market have adopted new product launches as their primary development strategy in order to improve their market share and profitability while remaining competitive over the forecast period. They frequently engage in M&As, collaborations, and other activities to establish themselves in the international market.
Sumitomo Chemical, Mitsubishi Chemical Corporation, and Japan Chemical Database Ltd are some of the key players identified in the sulfuric acid market.
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Sulfuric Acid Market Segmentation
By Purity Type:
- Standard
- Ultra-Pure
By Raw Materials:
- Elemental Sulfur
- Base Metal Smelters
- Pyrite Ores
- Others
By Application:
- Fertilizers
- Petroleum Refining
- Metal Production & Processing
- Steel Pickling
- Copper Production
- Metal Surface Cleaning
- Others
- Wastewater Treatment
- Chemicals Production
- Textile Processing
- Pulp & Paper Production
- Semiconductor & Electronics
- Battery Electrolyte
- Integrated Circuit Components Fabrication
- Photovoltaic Cells
- Pharmaceuticals
- Domestic Cleaning Products
- Others
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Recent Developments
- In August 2021, Sumitomo Chemical made the decision to increase the amount of high-purity chemicals it can produce for semiconductors. At its Ehime Works (Niihama city, Ehime, Japan), the corporation will set up new production lines to double its capacity for high-purity sulfuric acid.
- In July 2020, Mitsubishi Chemical Corporation (MCC), headquartered in Tokyo, Japan, has purchased the American chemical and materials group Gelest from Johor Bahru Capital via its US subsidiary. The acquisition is expected to be completed in 2020, subject to usual regulatory scrutiny and clearance.
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