NEW YORK, November 21, 2016 /PRNewswire/ --
Growing agriculture sector, increasing metal processing activities, coupled with rising awareness about wastewater treatment to drive Indiasulphuric acid market through 2025
According to the recently published TechSci Research report "India Sulphuric Acid Market Study, 2011 - 2025", the sulphuric acid market in India is projected to exhibit a CAGR of 3.35% during 2016-2025, on account ofincreasing fertilizer productionin the country. Moreover,growing demand and consumption of sulphuric acid can be attributed to rapid growth in population size of India, which is subsequently driving demand for infrastructure, food crops and base metals. Growingapplication of sulphuric acid in processing of fertilizers and other industrial chemicals, coupled with rising initiatives by Government of Indiato collaborate with global manufacturing firms, are furtherexpected to drive India sulphuric acid market during the forecast period.
Sulphuric acid is tailored for utilization as the most crucial raw material and key ingredient in agriculture sector with applications inproduction of fertilizers and pH adjustment.Moreover, it is alsoan essential part of nearly all manufactured goods, chemical synthesis such as hydrochloric acid, nitric acid, sulphate salts, synthetic detergents, dyes and pigments, explosives, and drugs. Sulphuric acid is utilized in carrying out processing of metals by various methods including pickling of iron & steel prior to plating process. Westregion was the major demand generator for sulphuric acid in India over the past few years, owing to presence of major fertilizer and chemical producing companieslocated in this region.Furthermore, leading sulphuric acid manufacturers such as Hindalco Industries Ltd., and Paradeep Phosphates Ltd., have an installed production capacities of 1,670 and 660 thousand tons, respectively.
"Fertilizer is the largest consumer of sulphuric acid in India, owing torising urbanizationand growing population in the country, which is furtherincreasing focus on agriculture sector of India to meet growing demand for food. Phosphate fertilizers production in India stood at 4,113.1 thousand metric tons in 2014, which is further projected to increase in the coming years. Thus, growing production of phosphate fertilizerand increasing use of sulphuric acid in metal processingto boost demand for sulphuric acid in Indiaduring the forecast period." said Mr. Karan Chechi, Research Director, with TechSci Research, a research based global management consulting firm.
"India Sulphuric AcidMarket Opportunities, 2011 - 2025" has analyzed the potential of the sulphuric acid market in India and provides statistics and information on market sizes, shares and trends. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers and key challenges faced by India Sulphuric Acid market.
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