Global Sulphuric Acid Market: Demand Analysis and Growth Forecast
Consistently incoming demand for fertilizers, particularly in APAC, will ensure profitable returns in the sulphuric acid, reassures a new market research report from IndustryARC. According to the analysts, the global sulphuric acid market size was $8.54 billion in 2018 and the value will be incremented at a CAGR of 2.5% over the forecast period 2019-2025. The report is titled: “Sulphuric Acid Market: By Applications (Phosphate Fertilizers, Chemical Manufacturing, Agricultural Chemistry, Electrolyte in Lead-Acid Storage Battery); By Manufacturing (Lead Chamber, Contact) & By region – Forecast (2019 - 2025).”
Sulphuric acid is a combination of certain elements which include hydrogen, oxygen, and sulphur. It is also known as mineral acid and hygroscopic as well. Nearly 75% of the produced sulphuric acid is consumed in the making of foremost fertilizers named superphosphate, ammonium phosphate, and ammonium sulphate. Widespread of sulphuric acid across 7 key industries including chemical manufacturing, oil refining, metal processing, rayon manufacture, lead-acid type batteries manufacture, potato harvesting, and also in manufacturing of medicines is proliferating the opportunities associated with the sulphuric acid market.
Browse 51 Market Tables, 176 Figures spread through 155 slides and an in-depth TOC “Sulphuric Acid Market (2019 - 2025)”
Global Sulphuric Acid Market: Leading Segments
Asia-Pacific region is recognized as the leading region with its dominating share that is around 36% in the global sulphuric acid market for the year 2018. Japan and South Korea recorded the highest export prices for sulphuric acid. Evolving usage of sulphuric acid in the flourishing chemicals and fertilizers industries of Japan and China is highly influencing the growth of the global sulphuric acid market. Worldwide, India is noted as the second largest consumer of fertilizers, and biggest importer of raw materials which are particularly required in the production of super phosphate fertilizers. Currently soaring prices of sulphuric acid that is from ₹4,000 a metric tonne to ₹9,000 a metric tonne for the year 2018 is attributing for the dominating share of APAC in the global sulphuric acid market.
Sulphuric acid is widely used to manufacture pigments, fertilizers, dyes, explosives, drugs, detergents, inorganic salts and acids, battery, pharmaceutical, industrial units, petroleum refining, and in the metallurgical processes with varied concentrations. Fertilizers application is noted to be the fastest growing segments in the global sulphuric acid market with a CAGR of around 5.4% during the forecast period 2019-2025. Farmers are adopting more quantities of two-component fertilizers such as Monoammonium phosphate and Diammonium phosphate as it is easy to deliver necessity amounts of nitrogen and phosphorus to soils and helps in producing an effective yield. Increasing focus of farmers, government policies in developing agricultural output to match with the mounting population across the globe are attracting to use superphosphate fertilizers more
Global Sulphuric Acid Market Trends
- Augmenting opportunities for sulphuric acid in automotive batteries to cope up with the rising demand for electric vehicles
- Significant demand for sulphur based fertilizers coupled with the growing dependency of oil and gas industry and wastewater treatment on sulphuric acid is boosting the growth of the global sulphuric acid market
- In February 2017, Sojitz-Japan based petrochemical producer and trader signed an agreement to acquire solvadis-Germany based chemical distributor, especially methanol, sulphur and sulphuric acid. This acquisition was aimed to shore up its chemical business with viable earnings
Global Sulphuric Acid Market: Competitive Landscape
The Mosaic Company, PotashCorp, Groupe Chimique Tunisien, Maaden - Saudi Arabian Mining Company and OCP Group, PVS Chemicals, Aurubis, Chemtrade Logistics Income Fund, BASF SE, Akzonoble NV, DowDupont, INEOS Enterprises and Agrium Inc. are some of the key players identified in the report which are currently holding majority shares in the global sulphuric acid market
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