The report is titled, “Sulfuric Acid Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.” Based on the information provided in the report regarding the challenges which new entrants face, the strategies used by leading companies in the global sulfuric acid market, and also the market trends, an interested individual or enterprise can effectively make smart decisions regarding investment in the market.
Browse the full Sulfuric Acid Market for Fertilizers, Chemical Synthesis, Wastewater Treatment, Metal & Mining, and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023 report at https://www.transparencymarketresearch.com/sulfuric-acid-market.html
Transparency Market Research (TMR) has announced the addition of a new market study based on the sulfuric acid market. The report analyzes the drivers and restraints of the market, and the impact of these on the demand for sulfuric acid during the forecast period from 2015 to 2023. The findings of the report show that the market is expected to stand at US$85.40 bn by the end of 2023 increasing from US$67.99 bn in 2014, expanding at a CAGR of 2.6% from 2015 to 2023.
Sulfuric acid is a highly reactive acid, which is completely miscible in water. Sulfuric acid is the most extensively used and produced acid, having applications across a large number of applications such as the manufacturing of fertilizers, preparing synthetic chemicals, treating waste water, and much more. The global sulfuric acid market is expected to be driven by its use as a leaching agent in mining and metal applications. The continual demand for sulfuric acid from the paper and pulp industry boosts the market. The use of sulfuric acid in the pharmaceutical industry is aiding the growth of the market. Moreover, the rising adoption of sulfuric acid as a cleaning agent for household use is expected to further the growth of the global sulfuric acid market.
According to the report, the sulfuric acid market may be hampered by the unpredictable and fluctuating prices of raw materials and crude oil projected during the forecast period. However, the regeneration of sulfuric acid and elemental sulfur using recovery methods is expected to help manufacturers reduce their dependence on raw materials derived from the expensive crude oil, thus improving the overall market for sulfuric acid in the period from 2015 to 2023.
On the basis of application, the global sulfuric acid market is segmented into chemical synthesis, fertilizers, waste water treatment, metal and mining, and others such as paper and pulp industry or the pharmaceuticals industry. Out of these, the fertilizers segment held the largest share in 2014, accounting for 60% of the global sulfuric acid market. Sulfuric acid is extensively used for the manufacturing of calcium dihydrogenphosphate and ammonium phosphate fertilizers.
In terms of regional demand, Asia Pacific is expected to hold the largest share, followed by Europe, owing to the high consumption of fertilizers and use of sulfuric acid in chemical manufacturing industries. Asia Pacific is expected to witness the fastest growth in the global sulfuric acid market. Middle East and Africa will also report healthy growth due to rising metal mining activities. Brazil, in Latin America, is predicted to emerge as a sizeable market for sulfuric acid.
Key players in the global sulfuric acid market, which have been profiled in the report include: The Chemours Company, The Mosaic Company, Chemtrade Logistics Inc., Eco Services Operations, LLC, Ltd., PotashCorp.Khaitan Chemicals & Fertilizers Limited, Vale Fertilizantes S/A, BASF SE, Akzo Nobel N.V., Southern States Chemical, and Honeywell International, Inc.
The report segments the global sulfuric acid market as follows:
- Chemical synthesis
- Wastewater treatment
- Metal & mining
- Others (Including paper & pulp, pharmaceutical, etc.)
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of Middle East & Africa
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