A recent report published by Infinium Global Research on the sulfuric
acid market provides an in-depth analysis of segments and sub-segments in the
global as well as regional sulfuric acid market. The study also highlights the
impact of drivers, restraints, and macro indicators on the global and regional sulfuric
acid market over the short term as well as long term. The report is a
comprehensive presentation of trends, forecast and dollar values of global
sulfuric acid market. According to the report, the global market for Sulfuric
Acid was sized near USD 75.8 billion in 2020 and is expected to reach USD 95.5
by 2026 growing with a CAGR of 3.4% over 2020-2026.
Sulfuric acid is used in the production of many chemicals such as
hydrochloric acid, nitric acid, and sulfate salts. Commercially, there are
three processes of sulfuric acid production: sulfur-based, pyrite-based, and
smelter-based. Sulfuric acid is one of the most important industrial chemicals
and is used for various applications including fertilizers, chemical
production, and metal processing. Sulfuric acid finds the largest application
in the fertilizer industry for the production of phosphoric acid through the
wet-process. The market is expected to benefit from the increase in sulfuric
acid production as a by-product of smelters. This helps smelters to find a use
for their disposals. This has also led to a decline in the market share of
sulfur-burning plants.
The global sulfuric acid market is expected to grow on the demand
coming from the industries of fertilizers, and chemical production. Sulfuric
acid is also used in the manufacturing of chemicals, pigments, dyes, nitric
acid, and sulfate salts. Sulfuric acid is used for pickling in metal processing
such as steel processing. It helps in removing impurities and rust from the
surface. The increase in the demand for metal processing due to an increase in
impurity levels is driving the demand for sulfuric acid. However, sulfuric acid
is facing competition from hydrochloric acid for metal processing. Though
hydrochloric acid is expensive, it is gaining market attention. Hydrochloric
acid minimizes the base metal loss and gives faster results during pickling.
In terms of region, Asia Pacific is the largest and the
fastest-growing geographical segment for sulfuric acid, and the largest metal-producing
region, globally. It is also one of the major agriculture markets. There is an
increase in the food demand from the increasing population especially in
developing countries such as India and China. Also, China is one of the largest
producers of chemicals, globally. All these factors have led to the requirement
for increased yields thus, driving the demand for fertilizers. This translates
into the demand for sulfuric acid for manufacturing fertilizers.
The report on the global sulfuric acid market covers segments such as
sulfur-based production, and application. On the basis of sulfur-based
production, the sub-markets include sulfur-based, pyrite roasting, and smelting by-product. On the basis of application, the sub-markets include phosphate
fertilizer production, chemical production, metal processing, and others.
The report provides profiles of the companies in the market such
as BASF SE, Akzo Nobel N.V., DuPont de Nemours, Inc., Evonik Industries AG,
Jacobs Engineering Group Inc., Vale S.A., Honeywell International Inc., Solvay
S.A., and Khaitan Chemicals & Fertilizers Limited.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of sulfuric acid
market. Moreover, the study highlights current market trends and provides
forecast from 2020-2026. We also have highlighted future trends in the market
that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight into the
market share of the leading players.
Please Choose One of them.