According to IMARC Group’s latest research report, titled “Sulphuric Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, offers a comprehensive analysis of the industry, which comprises insights into the sulphuric acid market. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global sulphuric acid market is expected to exhibit a CAGR of 3.02% during 2022-2027.
Sulphuric Acid Market Outlook:
Sulphuric acid (H2SO4) is a dense, corrosive, and colorless liquid prepared industrially by the reaction of water with sulphur trioxide (SO3). It is a concentrated and non-combustible acid that oxidizes, dehydrates, or sulfonates organic compounds. Sulphuric acid also reacts with water, alcohol, and metals to form flammable hydrogen gas and enhance the combustion of other substances. Sulphuric acid is utilized in various concentrations to manufacture industrial goods, such as dyes, pigments, explosives, fertilizers, detergents, inorganic salts, acids, etc. As a result, it finds extensive applications across several sectors, including automotive, petroleum refining, chemical, pharmaceutical, fertilizer, etc.
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Sulphuric Acid Market Growth:
The escalating product demand in the agriculture industry to produce phosphate fertilizers, such as superphosphate of lime and ammonium sulfate, on account of the declining availability of arable land and the inflating food security concerns, is primarily driving the sulphuric acid market. Besides this, the elevating requirement for this compound as an electrolyte in lead-acid storage batteries of motor vehicle engines, farming equipment, and hospital imaging devices is further augmenting the market growth. Apart from this, the growing need for sulphuric acid as a household cleaning agent in soaps, laundry detergents, dishwasher liquids, etc., and the increasing awareness among consumers towards the importance of maintaining home hygiene are also catalyzing the global market. Moreover, the rising product popularity in the oil and gas sector as a catalyst for cleansing the impurities in metallurgical and petrochemical refining processes is anticipated to propel the sulphuric acid market over the forecasted period.
Key Market Segmentation:
Competitive Landscape with Key Players:
- Aarti Industries Ltd.
- Aurubis AG
- BASF SE
- Boliden AB
- Brenntag SE
- Chemtrade Logistics
- Lanxess AG
- Merck KGaA
- Nutrien Ltd.
- PhosAgro
- Solvay S.A.
- The Mosaic Company
- Valero Energy Corporation
Breakup by Raw Material Type:
- Elemental Sulfur
- Pyrite Ore
- Others
Breakup by Form:
- Concentrated (98%)
- Tower/Glover Acid (77.67%)
- Chamber/Fertilizer Acid (62.8%)
- Battery Acid (33.5%)
- 66 Degree Baume Sulfuric Acid (93%)
- Dilute Sulfuric Acid (10%)
Breakup by Distribution Channel:
- Offline
- Online
Breakup by End Use Industry:
- Fertilizer
- Chemical and Pharmaceutical
- Automotive
- Petroleum Refining
- Others
Breakup by Region:
- North America (United States, Canada)
- Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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