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The Sulfuric Acid Market was worth USD 8.99 billion in the year 2014 and is expected to reach approximately USD 11.96 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 3.22% during the forecast period.
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3.22% and Forecast to 2023
The Sulfuric Acid Market was worth USD 8.99 billion in the year 2014 and is expected to reach
approximately USD 11.96 billion by 2023, while registering itself at a compound annual growth
rate (CAGR) of 3.22% during the forecast period. The ascent can be ascribed to the existence of
stringent natural directions to control emanations, which is foreseen to prompt the expanded
usage of smelters to catch sulfur dioxide products.
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In 2016 Elemental sulfur raw material portion got huge share of the overall industry and is
anticipated to advance at the quickest rate over the conjecture time frame. The raw material
makes less contamination when compared with pyrite metal or base metal smelters and is
accessible in plenitude in the business. Keeping in mind the end goal to confine or check
environmental contamination, an expansive number of organizations have received stringent
measures to treat the discharged sulfur gas before discharging it into the air. Rising
developmental exercises, for example, upgrading the generation capacities of organizations to
spur the manufacturing of sulfuric acid items from basic sulfur are anticipated to trigger the
market development. China is the main producer of pyrites and most of the share of this raw
material is used for creating sulfuric acid.
In 2016 Fertilizers was the noteworthy application fragment and represented around 54 percent
of the general market income. Expanding interest for enhanced nature of harvest and rising
populace all inclusive are probably going to boost the market over the predictable period. Fast
urbanization and industrialization are bringing about the diminishment of arable land, which thus
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is driving the farmers to make use of fertilizers for expanding crop yield. Rising usage of H2SO4
for the generation of value manures for farming use to support creation capacities is anticipated
to impel market development
In 2016 Asia Pacific was the biggest regional fragment and represented around 46 percent of the
aggregate income. Expanding generation of sulfur from Japan and China is foreseen to boost the
product offerings of sulfuric acid in this area. Rising requirement for H2SO4 from the Indonesia
and Philippines is anticipated to help Asia Pacific regional market over the conjecture time
frame. The costs of sulfuric acid are fortifying because of the rising interest for the product in
Asia Pacific. Expanding need to extend the generation of phosphate manure because of rising
compost segment and stringent environmental controls concerning the assembling of
ecologically friendly product is probably going to support the market over the coming years.
Rising demand from phosphoric and industrial acid divisions attributable to an expansion in the
development of harvests and higher product yields is expected to trigger development in China
market. The developing supply of H2SO4 products from Morocco and Saudi Arabia is
anticipated to goad the market over the predictable period.
Major Market Players:
The market id extensively competitive with a number leading players such as PVS Chemical
Solution, BASF, Chemtrade, DuPont, Akzo Nobel India Ltd and Agrium.
The Sulfuric Acid Market is segmented as follows-
By Raw Material: Base metal smelters, Elemental sulfur, Pyrite ore, Others
By Application: Fertilizers, Metal processing, Textile industry, Paper & pulp, Chemical
manufacturing, Petroleum refining, Automotive, Others
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