FMI has announced the addition of the Sulphuric Acid Market 2015-2025
Future Market Insights has announced the addition of the “Sulphuric Acid Market: Global Industry Analysis and Opportunity Assessment 2015-2025"
Sulfuric acid is a diprotic acid that exhibits different variety of properties depending upon its concentration. Sulphuric acid has the biggest output of any chemical in the world. Sulphuric acid is majorly used in the manufacture of chemicals to make sulfate salts, pigments, dyes, nitric acid, sulfate salts, and others. It also serves as the electrolyte in the lead acid storage battery.
Sulphuric acid is widely used in the production of phosphate fertilizers. Sulphuric acid is a complex market that involves the chemistry of product supply and demand. There is variation in pricing of Sulphuric acid between regions depending upon the regulations and concentrations. There are four stages in the manufacturing of sulphuric acid that includes extraction of sulphur, conversion of Sulphur into sulphur dioxide, then converting sulphur dioxide to sulphur trioxide, and final conversion of sulphur trioxide to sulphuric acid.
Sulphuric acid is used to wash impurities out of gasoline and other refinery products in petroleum refining. Sulphuric acid is also used as catalyst and dehydrating agent in petrochemical process and organic chemical manufacturing. The global sulphuric acid market is segmented on the basis of manufacturing process, application, and region. Manufacturing process includes Lead Chamber Process, Contact Process, Wet Sulfuric Acid Process, and Others. Applications include Phosphate Fertilizers, Chemical Manufacturing, Agricultural Chemistry, Electrolyte In Lead-Acid Storage Battery, Metal Processing, and Others.
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Global Sulphuric Acid Market: Drivers
The Global Sulphuric Acid Market is mainly driven by the growing demand for Sulphur based fertilizers. Rising demand for sulphuric acid in the oil & gas industry and waste water treatment is expected to drive the sulphuric acid market for the forecasted period.
Global Sulphuric Acid: Restraints
Restraints for the global sulphuric acid market include stringent government regulations that are restricting its use, and high raw material prices. Some of the reasons that are hampering the growth of this market include effects on human health such as skin irritation, eyes irritation, skin sensitiveness and others.
Global Sulphuric Acid Market: Segmentation
Global Sulphuric Acid market is segmented by: application, manufacturing process, and by region.
- By Application:
- Phosphate Fertilizers
- Chemical Manufacturing
- Agricultural Chemistry
- Electrolyte In Lead-Acid Storage Battery
- Metal Processing
- By Manufacturing Process:
- Lead Chamber Process
- Contact Process
- Wet Sulfuric Acid Process
- Sulphuric Acids By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia pacific (APEJ)
- Middle East & Africa (MEA)
Global Sulphuric Acid: Region-wise Outlook
The global Sulphuric Acid is projected to witness a moderate growth from 2015 to 2025. According to FMI’s forecast, the market in Asia-Pacific is expected to show the fastest CAGR for the forecasted period due to increasing demand for consumer products from countries such as Japan, China, and India.
Europe and North America are leading markets of global Sulphuric Acid. Latin America market is also expected to grow due to rapid industrialization. Due to the prevalence of base metal smelters in Japan and South Korea, these regions have significant sources of sulphuric acid traded in the market.
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Global Sulphuric Acid Market: Competitive Landscape
Key players in the global Sulphuric Acid market are doing product innovations, expansions and mergers and acquisitions in order to expand their geographic reach. Companies in this market are focusing on finding newer applications for Sulphuric Acids in order to increase their shares in the market.
Global Sulphuric Acid Market: Key Players
Some of the major players of the global Sulphuric Acid market are Tampa Electric, Chemtrade Refinery, The Mosaic, Lucite International, Climax Molybdenum, Valero Energy, Solvay, DuPont, Akzonobel N.V., BASF and others.