16:23 | 16.03.2017
Global Sulfuric Acid Market Driven by the Rise in Demand for Nutrition Rich Food Crops: Technavio
According to the latest market study released by Technavio,
sulfuric acid market is projected to grow to USD 80.86
billion by 2021, at a CAGR of close to 3% over the forecast period.
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Technavio has published a new report on the global sulfuric acid market from 2017-2021. (Graphic: Business Wire)
This research report titled ‘Global
Sulfuric Acid Market 2017-2021’ provides an in-depth analysis of
the market in terms of revenue and emerging market trends. This market
research report also includes up to date analysis and forecasts for
various market segments and all geographical regions.
Sulfuric acid, or oil of vitriol, is an odorless, colorless and
an extremely corrosive oily liquid. It is widely used in the
production of fertilizers and chemicals, and processing of metals.
The global sulfuric acid is positively impacted by the increasing
use of phosphate fertilizer to meet the rising demand for nutrition
rich food crops.
Request a sample report: http://www.technavio.com/request-a-sample?report=57061Technavio’s sample reports are free of charge and contain multiple
sections of the report including the market size and forecast, drivers,
challenges, trends, and more.
Based on application, the report categorizes the global sulfuric acid
market into the following segments:
Phosphate fertilizer production
The top three revenue-generating application segments in the global
sulfuric acid market are discussed below:
Phosphate fertilizer production“Phosphate fertilizers production is responsible for generating
over 56% of the overall revenue for the global sulfuric acid market.
Since manufacturing phosphate fertilizers requires raw materials rich in
sulfur, sulfuric acid is highly demanded in the sector,” says
Mahitha Mallishetty, a lead analyst at Technavio for specialty
Diammonium phosphate (DAP) is the most widely used phosphate fertilizer;
mono ammonium phosphate (MAP) and triple superphosphate (TSP) are the
other important phosphate fertilizers. Plants require these fertilizers
for optimal photosynthesis, nucleus formation, growth, and cell
division, thereby ensuring a constant demand for the market.
The chemical production sector of the sulfuric acid market is projected
to be worth USD 11.43 billion by 2021. Sulfuric acid is required for the
production of chemicals such as hydrochloric acid, nitric acid, and
sulfate salts. The key revenue generating countries for this application
segment are the US, Germany, Russia, China, Japan, the UK, Italy,
France, India, and Brazil. Since the production of chemicals is
constantly evolving, driven by innovations in science and technology,
the growth of this segment will be higher from developed countries.
Metal processing“The metal processing industry requires sulfuric acid for the
pickling of metals to remove rust and other impurities from the metal
surface. The increase in the demand for metal processing due to rising
metal impurity levels is driving the demand for sulfuric acid,” says
The automotive, infrastructure and construction, mechanical machinery,
metal products, electrical equipment, and domestic appliances industries
are the key contributors to the market segment. The maximum growth for
this market segment is expected to be from developing economies, driven
by the shift of factories to countries in the region.
The top vendors highlighted by Technavio’s research analysts in this
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View source version on businesswire.com: http://www.businesswire.com/news/home/20170316005235/en/