Sumitomo Corporation (Head Office: Chiyoda-ku, Tokyo; Representative Director, President and Chief Executive Officer: Shingo Ueno) has established a joint venture with Thailand’s tank terminal operator NFC Public Company Limited (Head Office: Bangkok; CEO: Nataphong Ratanasuwanthawee; hereinafter “NFC”) to operate a sulfuric acid tank terminal business. By acquiring a strategically located terminal and leveraging its expertise in sulfuric acid terminal operations, Sumitomo Corporation aims to enhance operational safety and logistics service reliability, while creating a hub for an expanded business footprint across neighboring Asian countries.
Sumitomo Corporation has formed a joint venture with Thailand’s NFC to operate a sulfuric acid tank terminal in Map Ta Phut Port.
The move enhances logistics reliability in Asia, a key growth region, and supports Sumitomo’s expansion via Interacid’s global expertise.
The venture aims to meet rising sulfuric acid demand driven by agriculture and mining.
Sulfuric Acid Market in Asia
Sulfuric acid is one of the most widely used basic chemical products globally, with applications in agriculture, industry, mining and textiles. It is primarily produced through sulfur burning and as a byproduct of nonferrous metal smelting. Global demand is projected to grow from approximately 290 million tons in 2023 to around 330 million tons by 2029, mainly for fertilizer production in response to rising food demand due to population growth, alongside increased use in metal smelting at copper, lithium and rare earth metal mines.
Asia accounts for about 50% of global sulfuric acid demand and continues to lead the market. New sulfur-burning and copper smelting facilities in countries like China and Indonesia are expected to increase supply, intensifying the need for robust marine trade infrastructure, small-lot distribution and logistics systems within the region. Thailand, with its growing economy, imports around 600,000 tons of sulfuric acid annually for numerous applications including petrochemicals, bioplastics and food additives. Demand is expected to remain stable over the medium to long term.
NFC’s Strengths
NFC is a logistics-focused company engaged in warehousing, tank terminal operations for sulfuric acid, ammonia and gasoline, alongside ammonia distribution. Originally established in 1982 through a joint investment by the Thai government and private funds as a fertilizer manufacturer, the company later transitioned into logistics. Its tank terminal is located in Map Ta Phut Port in Rayong Province, offering excellent access to eastern Thailand, an area densely populated with petrochemical facilities and robust sulfuric acid demand. The terminal also benefits from NFC’s extensive operational experience, ensuring reliability and stable performance.
Sumitomo Corporation Group’s Sulfuric Acid Business Initiatives
Sumitomo Corporation Group oversees Interacid Group , a major global sulfuric acid trading company operating in 16 countries. Interacid handles approximately 30% of the world’s marine sulfuric acid trade and is known for both its trading functions and ownership of storage tanks. This enables the group to offer flexible procurement and supply services, reliably delivering required volumes to customers as needed. Since the 2010s, Sumitomo Corporation has enhanced its supply chain by expanding into distribution in Thailand and acquiring a tank terminal business in the United States, strengthening functions across procurement, sales, storage and logistics.
This new joint venture represents a step forward in reinforcing logistics infrastructure in Thailand, where Sumitomo Corporation had already been active in sulfuric acid distribution. By acquiring a local terminal, the company will strengthen its base in Asia, a strategic focus region. Through service enhancements supported by Interacid’s operational expertise, Sumitomo Corporation will expand its logistics capabilities in Thailand and, in the future, seek to broaden its sulfuric acid terminal business across other Asian countries by strengthening ties with regional suppliers.
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Fibre2Fashion News Desk (HU)
