Sulphuric acid market is projected to grow 3.1% in 2021, driven by fertilizer and metal processing industries, reaching US$ 18 billion by 2031.
According to the latest market study published by Future Market Insights (FMI), the demand for sulphuric acid is set to rise on account of its application in production of fertilizers. As per the report, demand for sulphuric acid will increase by 3.2% CAGR between 2021 and 2031.
Focus on improving agricultural yield across the globe is elevating the demand for fertilizers. Sulphuric acid, being a key constituent used in production of phosphate based fertilizers, is expected to register notable surge in demand with the growth in sales of fertilizers during the forecast period.
Economic expansion in Latin America, East Asia, South Asia Pacific and others has pushed infrastructure development activities. This is expected to propel the demand for metals in the aforementioned regions.
Coupled with this abundant metal reserve in these regions is supporting the expansion of metal processing. FMI has projected application of sulphuric acid will increase, particularly in the metal extraction industry.
In addition to this, regulations implemented to ascertain the quality of fuel will increase the demand for sulphuric acid globally. Sulphuric acid is used as key catalyst in various operations in petroleum refining process. Growth in petroleum refining industry is likely to augment the sales of sulphuric acid in developed economies.
To remain ahead of your competitors, request for a sample – https://www.futuremarketinsights.com/reports/sample/rep-gb-6753
Key Takeaways from Sulphuric Acid Market Study
“Consistently growing demand from various end users, particularly fertilizers, metal production and processing, and petroleum refining industries is driving sales of sulphuric acid,” said an analyst at FMI.
Sulphuric Acid Market: Participant Insights
According to the Market Research analysis, 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., Kel-Chemicals Ltd., Young Poong Co., Ltd., Jiangsu Mingsheng Chemical Co., Ltd., Shijiazhuang Xinlongwei Chemical Co., Ltd., Wylton (China) Chemical Co., Ltd., Sumitomo Chemical Co., Ltd., Tayca Corporation among others are the key players identified by Future Market Insights in the market. Key Manufacturers are engaged in market expansion activities through strategic acquisitions, mergers, and collaborations to relish the maximum opportunity created in the market.
Get a Tailored Made Report to Match Your requirements, Ask from Market Research Expert – https://www.futuremarketinsights.com/ask-question/rep-gb-6753
Sulphuric Acid Market by Category
By Purity Type:
By Application:
For in-depth competitive analysis, Buy Now – https://www.futuremarketinsights.com/checkout/6753
By Region:
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact:
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com/
The article discusses the growth of the sulphuric acid market, driven by its use in fertilizers and metal processing.
How is the fertilizer industry affecting sulphuric acid demand? It is the primary driver of sulphuric acid sales due to its use in phosphate fertilizers.
What regions are leading in sulphuric acid demand? China in East Asia and the U.S. in North America are leading markets.
Explore more articles in the Research Reports category
