Fior Markets launched a study titled “Global Sulfuric Acid Market by Raw Material (Elemental Sulfur, Base Metal Smelters, Pyrite Ore, Others), Manufacturing Process, Application (Fertilizers, Chemical Manufacturing, Metal Processing, Petroleum Refining, Others), Region, Region” and Global Forecast 2018-2025.
The global sulfuric acid market is expected to grow from USD 11.02 billion in 2017 to USD 16.52 billion by 2025 at a CAGR of 4.64% during the forecast period from 2018-2025. Factors propelling the growth of the market include replacement of the aging fleet, increase in the production of nutrient-rich food crops, demand for sulfuric acid due to its diversified applications, and increasing demand from industries such as fertilizers, chemicals, paper & pulp, petroleum, metal processing, and automotive sector.
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Elemental sulfur segment held highest market share of 29.03% in 2017
Raw material segment includes elemental sulfur, base metal smelters, pyrite ore, and others. Elemental sulfur segment held highest market share of 29.03% in 2017owing to abundance of elemental sulfur worldwide. The production of sulfuric acid using elemental sulfur is less polluting thus its adoption has increased due to its environmental friendliness gas emissions.
Contact process segment dominated sulfuric acid market with value around USD 4.26 billion in 2017
Manufacturing process is divided into lead chamber process, contact process, wet sulfuric acid process, and others. Contact process segment dominated sulfuric acid market with value around USD 4.26 billion in 2017. This process is industries to produce high concentrated sulfuric acid. Contact process uses vanadium pentoxide (V2O5) catalyst and uses raw materials to produce a highly concentrated sulfuric acid (H2SO4).
Fertilizers segment is anticipated to grow with highest CAGR 5.88% during the forecast period
Application segment covers fertilizers, chemical manufacturing, metal processing, petroleum refining, textile industry, automotive, pulp & paper, and others. Fertilizers segment is anticipated to grow with highest CAGR 5.88% during the forecast period. This is attributable to increasing demand for improved quality of crops and rapid industrialization & urbanization has decreased the land areas and hence there raised the need to use fertilizers for increasing crop yield.
Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Asia Pacific region held the largest market share of 37.21%in 2017.Asia Pacific is fastest growing region due to the increasing production of sulfur in China and Japan, rising demand for sulfuric acid, easy availability of raw materials, and developmental strategies between companies in this region has increased regional growth in the global sulfuric acid market
The major players ofmarketinclude The Mosaic Company, Potashcorp, GroupeChimiqueTunisienSa, Maaden, 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., KMG Chemicals Inc, Eurochem, and others. For instance, in 2016, The Mosaic Company acquired Vale Fertilizantes business of Vale S.A. This acquisition expanded Mosaic’s presence in the Brazilian agricultural market.
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