Global Sulfuric Acid Market Size USD 10 billion in 2011 and growing with CAGR of 6.2% from 2016-2022
Global Sulfuric acid is growing rapidly post 2016 as the market is boosted due various industries such as Phosphate fertilizers , Pulp And Paper Industry, Metal Processing and Other Applications.
Pune, India – January 30, 2017 /MarketersMedia/ —
Market Highlights
Sulfuric acid is a strong mineral acid. It is Soluble in water at all concentrations. Sulfuric acid has many applications and is top products of the chemical industry. World production in 2011 was 168 million tonnes, with an approximate value of USD 10 billion. Principal uses include ore processing, fertilizer manufacturing, oil refining, wastewater processing, and chemical synthesis.
Globally, the market for sulfuric acid is growing due to automotive industry. Increasing demand for sulfur based fertilizers is expected to assist the global market growth. Growing demand for chemicals from major end-use industries is touted to bolster the global Sulfuric Acid Market growth over the forecast period. The global demand for sulfur is expected to witness an annual growth rate of over approximately 6.2%. Industrial cleaning agent industry is one of the major user sulfuric acid users, therefore industrial cleaning agents is likely to aid the global market growth. High growth in cement industry which has observed considerable growth in the past few years is expected to bolster the global sulfuric acid market. Hydrogen fluoride is a byproduct of sulfuric acid. Oil & gas industry is projected to grow rapidly over the next seven years, thereby aiding the global sulfuric acid market growth. Paper industry has witnessed brisk growth over the last few years. This trend is expected to enhance the overall sulfuric acid market. Rubber vulcanizing industry uses sulfuric acid at large volumes; hence vulcanizing sector is anticipated to augment the global sulfuric acid market.
Sulfuric Acid Market Players:
• Agrium
• Akzo Nobel
• Bayer
• Bp
• Chevron
• Cytec Industries
• Dupont
• Evonik Industries
• Honeywell
• Solvay
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More sulfuric acid is produced in the world than any other chemical. Over 40 million tons of sulfuric acid is manufactured annually in the U.S. Sulfuric acid is utilized in the production of fertilizers, explosives, petroleum products, detergents, dyes, insecticides, drugs, plastics, steel, storage batteries, and many other materials. The largest amount of sulfuric acid is used in the production of phosphate fertilizers. In this process calcium phosphate, Ca3(PO4)2, in phosphate rock, which cannot be used by plants because of its insolubility in groundwater, is converted to forms that will dissolve in water, thus making the phosphate available to plants.
Regional Analysis
Asia Pacific region is expected to maintain its dominance in the global market owing to increasing domestic demand for sulphuric acid by the chemical industry. Emerging markets of China and India are expected to boost the Asia Pacific sulphuric acid market. Other emerging markets are the Middle East countries. Asia Pacific has the largest market share for global sulphuric acid, followed by North America and Europe
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Segmentation:
The Global Sulfuric acid Market is majorly segmented on the basis of types, and application. Based on the type the market is segmented into Dilute Sulphuric Acid, Battery Acid, Concentrated Sulphuric Acid, and Chamber Acid. Further on the basis of application the market is classified into Phosphate fertilizers, Pulp and Paper Industry, Metal Processing, and Other Applications
Intended Audience
• Manufacturers and distributors of Sulfuric Acid.
• Suppliers and traders of Sulfuric Acid.
• Government, associations and industrial bodies.
• Investors and Trade experts.
• Consulting in chemical experts
Related Report
Global High Temperature Insulation Market will cross USD 5.16 Billion Mark by 2022 and it is expected to grow over the CAGR of more than 11.4 % during the period 2016 to 2022 https://marketresearchfuture.com/reports/high-temperature-insulation-market
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Source: MarketersMedia
Release ID: 165415
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