Market Analysis: Sulfuric Acid Market
The Global Sulfuric Acid Market accounted for USD 9.70 billion in 2016 and is projected to grow at a CAGR of 3.0% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Market Definition: Sulfuric Acid Market
Sulfuric acid is a diprotic acid that exhibits properties depending upon its concentration. Sulfuric acid is majorly used in the manufacturing of chemicals to make sulfate salts, pigments, dyes, and nitric acid. It also serves as an electrolyte in the lead acid storage battery. There is a growing demand for sulfuric acid in fertilizers, chemical manufacturing, metal processing, petroleum refining, textile industry, automotive and pulp & paper activity, which is expected to be one of the major drivers of the market over the next seven years.
Major Market Drivers:
- Growing demand for sulfur based fertilizers
- Rising demand for sulfuric acid in the oil & gas industry and waste water treatment
- Weaker sales due to surplus in the market
- Strict environmental regulations due to toxic effects of sulfuric acid
Market Segmentation: Sulfuric Acid Market
The sulfuric acid market is segmented on the basis of raw material into elemental sulfur, base metal smelters, pyrite ore and others.
On the basis of manufacturing process, the market is segmented into lead chamber process, contact process, wet sulfuric, and acid process.
On the basis of application, the market is segmented into fertilizers, chemical manufacturing, metal processing, petroleum refining, textile industry, automotive, pulp & paper and others.
On the basis of geography, the sulfuric acid market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
Competitive Landscape: Sulfuric Acid Market
The global sulfuric acid market is fragmented with the presence of a large number of players across different regions. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Major Market Competitors: Sulfuric Acid Market
Some of the major players in sulfuric acid market include 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 many more.
Research Methodology: Sulfuric Acid Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed 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 inquiry.
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.