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Sulphuric Acid Market Share to Grow at a CAGR of 1.5% in Forecast Period of 2023-2028

02-20-2023 01:06 PM CET | Industry, Real Estate & Construction

Press release from: Expert Market Research

Sulphuric Acid Market Share to Grow at a CAGR of 1.5% in Forecast

The 'Global Sulphuric Acid Market Price, Trends, Size, Share, Report and Forecast 2023-2028' by Expert Market Research gives an extensive outlook of the global sulphuric acid market, assessing the market on the basis of its segments like application, and major regions.

The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.

Get a Free Sample Report with Table of Contents: https://www.expertmarketresearch.com/reports/sulphuric-acid-market-report/requestsample

The key highlights of the report include:

Market Overview (2018-2028)

• Forecast CAGR (2023-2028): 1.5%

The global sulphuric acid market is expected to register growth during the forecast period on account of the rising utilisation of sulphuric acid in the agricultural industry. Due to the strong presence of strict environmental rules and regulations to regulate emissions, an upsurge in the demand for fertilisers employing phosphates is likely to drive market growth for sulphuric acid. This is further likely to increase the usage of smelters to secure sulphur dioxide products.

The increasing employment of sulphuric acid in the production of a wide variety of chemicals is expected to fuel market growth across the globe. Based on application, the fertilisers segment is expected to witness significant growth in the sulphuric acid market share over the coming years on account of the rising demand for better-quality crops to meet the needs of increasing populations.

The growing urbanisation and industrialisation are leading to a reduction of arable land. This is further expected to boost the use of fertilisers by farmers to improve crop yield which is likely to enhance segment growth across the globe.

Moreover, the increasing usage of sulphuric acid to produce quality fertilisers for agricultural applications to increase production capacity is expected to fuel the sulphuric acid market growth during the forecast period.

Sulphuric Acid Industry Definition and Major Segments

Sulphuric acid, also known as an oil of vitriol or Mattling acid, is a mineral acid that is made of sulphur, hydrogen, and oxygen. It is corrosive with a strong acidic nature that acts as a dehydrating and oxidising agent at higher concentrations. It is a syrupy liquid that has no colour or odour. It is generally employed in the production of fertilisers and in chemical synthesis.

Read Full Report with Table of Contents: https://www.expertmarketresearch.com/reports/sulphuric-acid-market-report

By application, the market is classified into:

• Fertilisers
• Chemicals
• Others

Based on region, the market is divided into:

• North America
• Latin America
• Asia Pacific
• Europe
• Middle East and Africa

Sulphuric Acid Market Trends

Sulphur is commonly recovered from petrochemical plants and refineries which can then be used for the production of sulphuric acid. The expansion of the petrochemical sector is a key trend in the sulphuric acid market as it provides a steady supply for sulphur raw materials.

By utilising raw materials that are generated in other refining processes, the production costs of sulphuric acid are lowered, and manufacturing becomes more environmentally friendly and sustainable. This is likely to increase the market demand for sulphuric acid over the upcoming years.

Geographically, the Asia Pacific region is expected to gain momentum in the sulphuric acid market share over the coming years on account of the surging production of sulphur in countries such as Japan and China.

The rising investments towards chemical synthesis by manufacturers in China is expected to drive the market growth of sulphuric acid across the region. With the rise in the production of various industrial cleaning agents, the market demand for sulphuric acid is likely to fuel over the coming time frame.

Moreover, the increasing demand for sulphuric acid from industrial and phosphoric acid industries due to the higher crop yields and the rise in the cultivation of crops, especially in China is expected to boost the market growth in the Asia Pacific.

The increasing demand for sulphuric acid in Indonesia and the Philippines is also anticipated to bolster the market growth of sulphuric acid in the region during the forecast period.

Key Market Players

The major players in the global sulphuric acid market report are:

INEOS Group
BASF SE
DuPont de Nemours, Inc.
PVS Chemicals, Inc.
Chung Hwa Chemical Industrial Works, Ltd.
Others

The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.

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Media Contact:

Company Name: Claight Corporation
Contact Person: Adam Lee, Corporate Sales Specialist - U.S.A.
Email: sales@expertmarketresearch.com
Toll Free Number: +1-415-325-5166 | +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
Website: https://www.expertmarketresearch.com

About Us:

Expert Market Research (EMR) is a leading market research company with clients across the globe. Through comprehensive data collection and skilful analysis and interpretation of data, the company offers its clients extensive, latest, and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium-scale enterprises.

EMR customises syndicated reports according to client's requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.

Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate, and actionable industry intelligence so that they may formulate informed, effective, and intelligent business strategies and ensure their leadership in the market.

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