Sulfuric Acid Market Research Insight (2020-2026) Helps You Achieve Your Business Goal

The global sulfuric acid market size is expected to grow at a considerable pace owing to the rising need to increase agricultural production around the world. According to a report published by the Organization for Economic Cooperation and Development (OECD) and the Food and Agriculture Organization (FAO), about 820 million people worldwide are severely undernourished or malnourished. Furthermore, the World Bank estimates that by 2050, agricultural production will feed approximately 9.7 billion people in the world.

Thus, in order to meet their health needs, the demand for agriculture has increased exponentially, which, in turn, is fueling the demand for fertilizers. Sulfuric acid is expected to play an instrumental role in raising agricultural productivity as this compound is essential to make phosphate fertilizers. Thus, an escalating demand for fertilizers is likely to brighten the sulfuric acid market outlook till 2026.

List of Players Identified in the Sulfuric Acid Market Report by Fortune Business Insights(TM):

Jiangsu Jihua Chemical
Dexo Fine Chem Pvt. Ltd.
Oriental Carbon & Chemicals Ltd.
BASF
Cornerstore
Veolia
Aurubis
Aarti Industries Limited
PVS Chemicals Inc.
Ineos Enterprises Limited

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Fortune Business Insights(TM), in its report, titled "Sulfuric Acid Market Size, Share & Industry Analysis, By Application (Fertilizers, Chemical Manufacturing, Metal Processing, Textile, Paper & Pulp, Automotive, Others) and Regional Forecast, 2019-2026", provides:

An in-depth research into the factors, drivers, and trends that will shape the development of the market;

A broad overview of the general industry outlook which will impact the market in the given period;
A holistic study of the regional developments and competitive landscape of the market; and
A detailed analysis of the share, size, and overall growth pattern of the market during the forecast period.

Sulfuric acid (H2SO4) is an oily, acidic liquid that can appear clear or cloudy. When concentrated, it can act as an oxidizing as well as a dehydrating agent. The compound is also one of the two components of acid rain.

Extensive Applicability of Sulfuric Acid Across Industries to Raise Market Potential

Chief among the sulfuric acid market trends is the high demand for the liquid from different industries due to its multiple uses. For example, in the chemical industry, sulfuric acid is one of the key components in the manufacturing of industrial-grade chemicals such as nitric acid and hydrochloric acid. In the automotive industry, the compound is used in a diluted form to function as an electrolyte to allow the movement of electrons between the battery plates.

Interestingly, this acid is also used in the manufacture of unique drugs called as alkylating antineoplastic agents. These are chemotherapy drugs used to treat cancer by damaging the DNA of the cancer cells. Thus, high industrial demand for H2SO4 will accelerate the sulfuric acid market growth during the forecast period.

Browse Report Summary:

https://www.fortunebusinessinsights.com/industry-reports/sulfuric-acid-market-101747

Asia-Pacific to Occupy a Commanding Position; Europe to Grow Steadily

Among regions, Asia-Pacific is slated to dominate the sulfuric acid market share in the coming decade on account of rising food requirements of the growing population. This is causing a spike in the demand for fertilizers for enhancing agricultural production, thereby boding well for this market in the region. In Europe and North America, the market is expected to be driven by the increasing employment of sulfuric acid in the chemical industry in these regions. Lastly, rising pace of industrialization and urbanization will propel the market in the Middle East & Africa as well as Latin America.

Operational Expansion to be Key Focus Area for Players

Promising growth opportunities proffered by this market has precipitated intense competition, according to the sulfuric acid market analysis. One of the most popular strategies among competitors is geographic expansion of their operations and activities. This will not only entrench their position in the market, but it will also diversify their product portfolio and open up new revenue streams.

Key Industry Developments:

June 2019: Veolia declared its plans of expanding its famous Burnside facility in Louisiana. The plant derives commercial-grade sulfuric acid from spent sulfuric acid. Besides this, the unit also produces sulfur-based materials for refining purposes.

May 2018: BASF SE began operations at its new chemical plant in Shanghai, China. The facility is built to produce electronic-grade sulfuric acid to cater to China's growing semiconductor manufacturing industry.

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