Market Research Report
Sulfuric Acid - Global Market Outlook (2017-2023)
|Published by||Stratistics Market Research Consulting||Product code||560048|
|Published||Content info||154 Pages
Delivery time: 2-3 business days
|Sulfuric Acid - Global Market Outlook (2017-2023)|
|Published: September 1, 2017||Content info: 154 Pages||
According to Stratistics MRC, the Global Sulfuric Acid Market accounted for $71.4 billion in 2016 and is expected to reach $87.5 billion by 2023 growing at a CAGR of 2.9% from 2016 to 2023. Increasing demand from the various end-use industries is considered to be one of the primary growth drivers for sulfuric acid market. Moreover, growing production of nutrient dense food crops, increasing use of sulphuric acid in metal processing, rising demand for sulfur based fertilizers, continuous and stable demand for sulfuric acid due to several end-user applications and rising demand from oil & gas industry, waste water treatment are the factors favouring the market growth. However, stringent government regulations, high raw material costs, weaker sales due to surplus and health concerns associated to sulfuric acid are some of the factors restraining the market.
In 2016, fertilizer segment is the largest consumer of sulphuric acid, owing to its usage in production of phosphate fertilizers as raw material. Whereas, the market share of chemical synthesis segment is estimated to improve significantly over 2017 to 2023. Asia Pacific is expected to grasp major revenue share in sulfuric acid market and is expected to grow with a high CAGR during the forecast period. This growth is attributed to increasing foreign investments, booming agriculture sector with vast population base, increasing demand for sulfuric acid in various processes of fertilizers and chemical industries in emerging regions such as India and China.
Agrium Inc., Akzo Nobel N.V., Aurubis, BASF SE, Bayer, Chemtrade Logistics Inc., E. I. Du Pont De Nemours and Company, Eco Services Operations, LLC, Evonik Industries, Groupe Chimique Tunisien SA, Honeywell International, Inc., Khaitan Chemicals & Fertilizers Limited, PotashCorp, PVS Chemicals, Inc., Solvay, Southern States Chemical, The Chemours Company, The Mosaic Company and Vale Fertilizantes S/A are some of the leading players operating in the global Sulfuric Acid market.