The global sulfuric acid market is projected to grow from USD 13.2 billion in 2020 to USD 28.5 billion by 2027, at a CAGR of 11.7% during the forecast period. The market is witnessing growth due to an increase in the production of nutrient-rich food crops. Sulfuric acid is primarily used in metal ore leaching, fertilizer manufacturing, oil refining, wastewater processing, and chemical synthesis.
Get an Exclusive PDF Sample Copy of the Report at https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1065
Based on raw material, the sulfuric acid market is segmented into elemental sulfur, pyrite ores, base metal smelters, and others. Sulfur is the major raw material used in the production of sulfuric acid. Elemental sulfur is expected to account for largest share in 2022, in terms of volume. Around 90% of sulfur produced goes into the manufacturing of sulfuric acid. Thus, the use of elemental sulfur as a major feedstock for the production of sulfuric acid, fuels the growth of this segment.
Based on application, the sulfuric acid market is segmented into fertilizers, metal processing, pulp & paper, petroleum refining, textile industry, automotive, chemical manufacturing, and others. Fertilizer application is expected to account for largest share in 2022, in terms of volume. The growth can be attributed to the use of about 50%-60% of sulfuric acid in manufacturing of phosphate fertilizers such as superphosphate of lime and ammonium sulfate.
Request Customized Report as Per Your Requirements at https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=1065
Based on region, the sulfuric acid market is segmented into North America, Western Europe, Central & Eastern Europe, Asia Pacific, the Middle East & Africa, and South America. Asia Pacific is expected to be the largest market for sulfuric acid, in terms of value and volume, in 2022. The increasing demand for sulfuric acid for fertilizers, chemical manufacturing, metal processing, and automotive industries in China, Japan, and Indonesia is driving the market in Asia Pacific.
The Mosaic Company (US), OCP Group (Morocco), Chemtrade Logistics Income Fund (Canada), Nouryon (Netherlands), BASF SE, Ineos Group Ltd, KANTO Corporation, Aurubis AG, Avantor Performance Materials, LLC, PVS Chemicals Inc., Seastar Chemicals, KMG Chemicals, Qingdao Hisea Chem Co.Ltd, Linde Group, Nouryon, Cornerstone Chemical Company, Ma’aden – Saudi Arabian Mining Company, Canada Colors and Chemicals Limited, Hubei Xingfa Chemicals Group Co., Ltd, Asia Union Electronic Chemical Corporation (AUECC), Tata Chemicals, Trident Group, Boliden Group, UBE INDUSTRIES, LTD., and Others/
For any Queries Linked to the Report, Ask an Analyst at https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=1065
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 Micro Quadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Media ContactCompany Name: MarketsandMarkets™ Research Private Ltd.Contact Person: Mr. Aashish MehraEmail: Send EmailPhone: 18886006441Address:630 Dundee Road Suite 430City: NorthbrookState: IL 60062Country: United StatesWebsite: https://www.marketsandmarkets.com/Market-Reports/sulphuric-acid-market-1065.html
