Global Inorganic Acids Market: Overview
Inorganic acids are procured from inorganic compounds or mineral compounds. Some such inorganic acids are sulfuric acid, hydrochloric acid, perchloric acid, nitric acid, boric acid, hydrofluoric acid, and phosphoric acid. Inorganic acids have varied levels of strength such as the very high strength sulfuric acid to the weak boric acid. A characteristic of inorganic acids is that they tend to be easily soluble in water and insoluble in organic compounds or solvents. Inorganic acids are mostly used as a raw material in the production process of different organic as well as inorganic compounds.
A report by Transparency Market Research offers essential information about the global market for inorganic acids. It presents a granular analysis of the factors promoting or hindering it. It also profiles leading companies in the market and discusses their market shares, competitive edge, and operations. Further, the report leverages market-leading analytical tools to gauge the various threats and opportunities awaiting the key players.
Global Inorganic Acids Market: Trends and Opportunities
Providing a major fillip to the global inorganic acids market is a burgeoning world population that has created a pressing demand for food. This has led to the massive demand for fertilizers, which in turn has boosted demand for inorganic acids used in the manufacture of fertilizers. Inorganic acids also find application in the metal extraction process that has been a steady upswing so far. Going forward, the expansion in end-use markets is likely bring about substantial growth in the inorganic acid market.
A popular inorganic acid, hydrochloric acid, which is typically obtained as a byproduct during the manufacture of organic compounds, is utilized in the chlorine industry. A substantial amount of hydrochloric acid is used in the manufacture of ethylene di-chloride. Silicones production also requires good amount of hydrochloric acid. Aqueous hydrochloric acid or muriatic acid is used in steel pickling, food, calcium chloride, brine treatment, and oil well acidizing.
Besides hydrochloric acid, sulfuric acid is another inorganic acid which is used in a number of industries. Prominent among them is the fertilizer industry, for over half of the sulfuric acid manufactured is used in production of agricultural fertilizers. Super phosphate of lime as well as ammonium sulfate is manufactured using sulfuric acid. Other notable applications which consume sulfuric acid are the manufacturing process of different chemicals such as sulfate salts, nitric acid, pigments and dyes, explosives, drugs and synthetic detergents.
Nitric acid again has widespread application in manufacture of fertilizers. In fact, more than 80% of nitric acid is used to produce ammonium nitrate, an effective plant fertilizer. Nitric acid is also used to manufacture nitroaromatics, which find application in production of polyurethanes, and hexanedioic acid, which find application in manufacture of polyamides. Most of the other inorganic acids have similar applications as raw materials for different chemical compounds.
Global Inorganic Acids Market: Regional Outlook
From a geographical standpoint, Asia Pacific consumes maximum inorganic acids, globally, on account of the presence of numerous chemical manufacturing industries as well as fertilizer industries in the region. China is a key market in Asia Pacific by dint to consuming and producing a copious amount of inorganic acid. Europe follows Asia Pacific in the amount of inorganic acid produced and North America comes in the third position.
Companies Mentioned in the Report
Some of the noteworthy companies competing in the global market for inorganic acids, profiled in the report are Basic Chemical Solutions LLC, General Chemical USA, PVS Chemicals, Inc., and Azko Nobel N.V.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.