DUBLIN, October 19, 2021--(BUSINESS WIRE)--The "Sulfuric Acid Market based on Application, Raw Material and Geography - Global Forecast up to 2026" report has been added to ResearchAndMarkets.com's offering.
The Sulfuric Acid Market is anticipated to grow at the rate of 3.04% CAGR by 2026.
Akzo Nobel N.V.
Groupe Chimique Tunisien
Maaden-Saudi Arabian Mining Company
The Mosaic Company
Sulfuric acid is a mineral acid that is majorly utilized to manufacture phosphate fertilizers such as monoammonium phosphate, diammonium phosphate, calcium dihydrogen phosphate, and others used in plant growth. It is considered a strong mineral acid possessed with high eroding properties. Sulfuric acid is a sticky liquid that is dissolvable in water, and the color of sulfuric acid varies from yellow to colorless, which is based on its concentration.
The key drivers of the sulfuric acid market growth include the expanding automotive and chemical industry. Sulfuric acid is usually utilized in the production of Lead-Acid Type Batteries and Sealed-unit lead-acid type batteries used in cars and trucks. As a crucial chemical compound, sulfuric acid is predominantly used to produce different well-known chemicals such as nitric acid, hydrochloric acid, and many other industrial chemicals. The strict environmental regulations due to the toxic impacts of sulfuric acid the market growth is likely to restrict.
Based on the raw material, the sulfuric acid market is segregated into elemental sulfur, base metal smelters, pyrite ore, and others. Among them, the elemental sulfur segment is anticipated to hold the maximum share in the market. The elemental sulfur causes minimum pollution compared to other raw materials and is available in a large amount. Increases in the developmental activities that include improving companies' production potentials to enhance the production of sulfuric acid products from elemental sulfur are projected to stimulate the sulfuric acid market growth.
As per the application, the major application of sulfuric acid is fertilizers due to the rising demand for crop quality and increasing population across the world. Drastic industrialization and urbanization lead to the scarcity of arable land, resulting in increasing fertilizers usage to increase crop yield. In the manufacturing of quality fertilizers, the usage of sulfuric acid is increased, which boosts the market growth.
According to the geographical analysis, the Asia Pacific is commanding the sulfuric acid market share. This is due to the rise in the production of sulfur from China and Japan, and developing chemical industry, readily available raw materials, and rising developmental strategies such as arranging production facilities to fulfill the increasing demand for sulfuric acid in this region.
The rising air pollution worldwide due to vehicle emissions has led to higher awareness about reducing environmental degradation. This has lead to the high usage of electric vehicles, which use lead-acid or lithium-ion batteries. Increasing preference for electric vehicles since it is an eco-friendly option to usual vehicles is a significant driver. With the continuous efforts to reduce environmental pollution, the demand for battery vehicles is predicted to boost the sulfuric acid market growth.
The top leading competitors of the sulfuric acid market are BASF SE, Akzo Nobel N.V., OCP Group, Groupe Chimique Tunisien, PotashCorp, Maaden-Saudi Arabian Mining Company, The Mosaic Company, PVS Chemicals, DowDuPont Inc., and Unigel Group.
Hence, there is a broader scope of sulfuring acid in the future owing to its diverse application such as in automotive, agriculture, chemical manufacturing, metal processing, and many more. Furthermore, few major industries are expanding their businesses to meet the demand for sulfuric acid.
This report provides the estimations and forecasts of the market size of sulfuric acid in terms of value and volume at geographical and regional levels.
This study identifies and analyzes the major growth drivers, restraints, opportunities, and challenges impacting the global sulfuric acid market
This report also provides the analysis of the recent market developments and competitive strategies such as expansions, product launches, and mergers & acquisitions to depict the competitive landscape of the global sulfuric acid market
This report also offers the profiles of key market players and evaluate their core competencies in each raw material and application of the global sulfuric acid market
Key Topics Covered:
1. Executive Summary
2. Industry Outlook
3. Market Snapshot
4. Market characteristics
4.1. Market Overview
4.2. Market Segmentation
4.3. Market Dynamics
4.4. DRO - Impact Analysis
5. Raw Material: Market Size & Analysis
5.2. Elemental Sulfur
5.3. Base Metal Smelters
5.4. Pyrite Ore
6. Application: Market Size & Analysis
6.3. Chemical manufacturing
6.4. Metal Processing
6.5. Petroleum Refining
6.6. Textile Industry
6.8. Pulp & Paper
7. Geography: Market Size & Analysis
7.2. North America
7.4. Asia Pacific
7.5. Rest of the World
8. Competitive Landscape
8.1. Competitor Comparison Analysis
8.2. Market Developments
8.2.1. Mergers and Acquisitions, Legal, Awards, Partnerships
8.2.2. Product Launches and execution
9. Vendor Profiles
10. Analyst Opinion
For more information about this report visit https://www.researchandmarkets.com/r/vu7n98
View source version on businesswire.com: https://www.businesswire.com/news/home/20211019005576/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900