Sulfuric Acid Market Worth USD 13.45 Billion by 2025: Grand View Research Inc.
Increasing investments in plant facilities due to the rising production capacity of phosphate fertilizer and tightening environmental regulations are anticipated to spur the market over the foreseeable period.
(firmenpresse) - The Report Sulfuric Acid Market Analysis By Raw Material (Elemental Sulfur, Base Metal Smelters, Pyrite Ore), By Application (Fertilizers, Chemical Manufacturing, Refinery, Textile), And Segment Forecasts, 2018 - 2025
The global sulfuric acid market is expected to be valued at USD 13.45 billion by 2025, according to a new report by Grand View Research, Inc. Increasing investments in plant facilities due to the rising production capacity of phosphate fertilizer and tightening environmental regulations are anticipated to spur the market over the foreseeable period.
Rising demand for the production of nutrient-rich food crops is expected to boost the industry. Increasing requirement for the continuous & sustainable H2SO4 product for the manufacturing of phosphate fertilizer, inorganic chemicals, detergents & soaps, dyes, and gasoline is expected to trigger industry growth over the forecast period.
Growing suppliers of sulfuric acid in Saudi Arabia due to the presence of large number of acid manufacturing facilities to strengthen the growth of phosphate is expected to spur the Middle East regional market. Factors such as increase in the number of initiatives carried out by companies such as DuPont, Outotec, and Sumitomo Corporation to expand their plant facilities, enhance distribution network, and expand processing capacities are projected to propel the market over the next eight years.
Access Research Report of Sulfuric Acid Market
Further key findings from the report suggest:
The global demand was valued at USD 10.10 billion in 2016, at an estimated CAGR of 3.3% from 2017 to 2025
Elemental sulfur was the largest raw material segment in 2016, accounting for over 57% of the overall market
Increasing demand for the manufacturing of sulfuric acid from elemental sulfur owing to its environmentally-friendly property in comparison to base metal smelter or pyrite ore roasting is projected to propel elemental sulfur raw material segment
Fertilizers was the largest application segment in 2016 and is expected to progress at a moderate rate over the foreseeable period
Increasing demand for the production of phosphate fertilizer to enhance the quality of irrigation water is projected to propel fertilizer application growth
In terms of revenue, Asia Pacific was the dominant regional segment in 2016 and is anticipated to hold a considerable share in the market, at an estimated CAGR of around 3.6% over the forecast period
Growing demand for H2SO4products in chemical industries from emerging the economies of China and India and the availability of raw materials in this region is projected to drive Asia Pacific regional segment
In May 2017, DuPont Clean Technologies received a contract agreement from Yidu Xingfa Chemical Co. Ltd. for the technology and engineering license for a 3600 tpd MECS MAX3 sulfuric acid plant. This initiative is expected to strengthen the company’s Xingfa plant in China.
Some players operating in this industry include Mosaic Company, Chemtrade Refinery, DuPont, Akzonobel N.V., BASF, PVS Chemical Solution, Valero Energy, and Solvay among others.
Grand View Research has segmented the global sulfuric acid market based on raw material, application, and region
Raw Material Outlook (Volume, Million Tons; Revenue, USD Million; 2014 - 2025)
Elemental sulfur
Base metal smelters
Pyrite ore
Others
Application Outlook (Volume, Million Tons; Revenue, USD Million; 2014 - 2025)
Fertilizers
Chemical manufacturing
Metal processing
Petroleum refining
Textile industry
Automotive
Paper & pulp
Others
Regional Outlook (Volume, Million Tons; Revenue, USD Million; 2014 - 2025)
North America
Europe
Asia Pacific
Central & South America
Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
Unternehmensinformation / Kurzprofil:
Datum: 26.09.2019 - 09:15 Uhr
Sprache: Deutsch
News-ID 599598
Anzahl Zeichen: 4872
contact information:
Contact person: Sonali Kulkarni
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Phone: 14153490058
Kategorie:
Chemical industry
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