Market Analysis: Global Sulfuric Acid Market
Global sulfuric acid market is expected to rise to an estimated value of USD 12.9 billion by 2026, registering a steady CAGR in the forecast period of 2019-2026. The rise in the market value can be attributed to the extensive use of sulfuric acid, rapid industrialization and increase in the production of nutrient-rich food crops.
Market Definition: Global Sulfuric Acid Market
Sulfuric acid is highly soluble in water and is known to be extremely corrosive. It is one of the most widely consumed and produced bulk chemical worldwide. Sulfuric acid is used in a wide range of domestic and industrial applications. There is a growing demand for sulfuric acid in pulp & paper activity, automotive, textile industry, petroleum refining, metal processing, chemical manufacturing, fertilizers, which is expected to drive the market in the forecast period.
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- Steady and sustainable demand for sulfuric acid due to its diversified applications; this factor will drive the market in the forecast period
- Growing demand for sulfur based fertilizers will also drive the market in near future
- Rising demand for sulfuric acid in the oil & gas industry and in waste water treatment; this factor will also propel the market
- Increase in the production of nutrient-rich food crops will also help the market to grow in future
- Strict environmental regulations due to toxic effects of sulfuric acid; this factor will hamper the market to grow in near future
- Weaker sales due to surplus in the market, will act as a restraint for the market growth
- Volatility in Raw Material Prices will also restrain the market in near future
Segmentation: Global Sulfuric Acid Market
By Raw Material
- Elemental Sulfur
- Base Metal Smelters
- Pyrite Ore
By Manufacturing Process
- Lead Chamber Process
- Contact Process
- Wet Sulfuric
- Acid Process
- Chemical Manufacturing
- Metal Processing
- Petroleum Refining
- Textile Industry
- Pulp & Paper
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
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Key Developments in the Market:
- In February 2017, Mitsui & Co., Ltd. acquired Chemtrade Aglobis AG, a wholly owned subsidiary of Chemtrade Logistics Inc. Chemtrade Aglobis AG is a leading distributor of sulfuric acid and sulphur. The acquisitions will help the company to expand their business in the European region and also it will help them to penetrate more into this market
- In September 2016, Jacobs Engineering Group Inc. acquired the patented rights for BAYQIK and other related technologies, from Bayer AG. BAYQIK is a quasi-isothermal technology that that helps in converting sulfuric acid. As per the agreement, Bayer AG will be submitting all their commercial, market and technical information related to the technology to Jacobs Engineering Group. The acquisition will help the company to grow in this market
Global sulfuric acid market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of sulfuric acid market market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the sulfuric acid market are The Mosaic Company, Potashcorp, Groupe Chimique Tunisien Sa, Maaden – Saudi Arabian Mining Company, OCP Group, Phosagro, BASF SE, Chemtrade Logistics Income Fund, Akzonobel N.V., E. I. Du Pont De Nemours and Company, Ineos Enterprises, Limited, PVS Chemicals, Inc., Aurubis, Agrium Inc., Norfalco, Gulf Fluor, Oxbow Carbon LLC, KMG Chemicals Inc, Eurochem, ECO Services, Reagent, Atul Ltd. and others.
Research Methodology: Global Sulfuric Acid Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved
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