Global Sulphuric Acid Market : In-Depth Players Analysis, Industry Trends, Share Estimation, Global Growth, Future Investments, Forecast till 2027
Sulphuric Acid is one of the crucial industrial chemicals, which is widely used in a range of industries. It is available as a colorless oily substance, which is involved in the production of commercially viable chemicals such as hydrochloric acid, synthetic detergents, dyes, pigments, and explosives. It is one of the crucial industrial chemical, which are widely used in a range of industries. Growing concerns about high crop yield from the agricultural sector is expected to drive the demand for fertilizers, which would support the Sulphuric Acid market. In addition, it is used in processing of minerals, wastewater treatment, and oil refining. It is also used in the production of phosphoric acid which in turn is used to produce phosphate fertilizer.
Global Market Overview
The global Sulphuric acid market, which grew from US$X.X billion in 2015 to US$ X.X billion in 2019, dropped marginally to US$X.X billion in 2020, due to the ongoing COVID-19 pandemic. Spending is expected to recover in 2021 to value US$X.X billion and increase to US$X.X billion in 2026 at a CAGR of X.X%. Cumulatively the market is expected to value US$X.X billion during the forecast period as compared to US$X.X billion during the historical period.
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Regional Market Overview
The APAC region is expected to account for a majority of Sulphuric acid demand over the forecast period, with the market expected to cumulatively value US$X.XX billion over the forecast period. Europe is expected to be the second largest with a total value of US$X.XX billion, followed by North America (US$X.XX billion), Middle east & Africa (US$X.XX billion) and South America (US$X.XX billion).
End-use Industry in Regional Markets
The APAC market for Sulphuric acid used in the Fertilizers end use, which grew from US$X.XX billion in 2015 to US$X.XX billion in 2019, dropped marginally to US$X.XX billion in 2020, due to the ongoing COVID-19 pandemic. Spending is expected to recover in 2021 to value US$X.XX billion and increase to US$X.XX billion in 2026 at a CAGR of X.XX%. Cumulatively the market is expected to value US$X.XX billion during the forecast period as compared to US$X.XX billion during the historical period.
Key Markets Overview
China is the leading Sulphuric acid market. Consolidation between medium and large Sulphuric acid manufacturers is expected as the Chinese government has been encouraging industry consolidation to enhance competitiveness in the world market.
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Competitive Landscape
The global sulfuric acid market is fragmented with players accounting for a marginal share of the market. Few companies include KMG Chemicals, INEOS, PhosAgro Group of Companies, Aurubis AG, Nouryon
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