NEW YORK, March 27, 2017 /PRNewswire/ -- "Increase in the production of nutrient rich food crops and sustainable and steady demands for sulfuric acid due to its diversified applications is driving the growth of the global sulfuric acid market"
The global sulfuric acid market is projected to reach USD 11.10 billion by 2021, at a CAGR of 2.87%. The market is projected to grow at a CAGR of 2.20% and reach 278.33 million ton by 2021 by volume. Growing use of sulfuric acid in production of fertilizers to produce high agricultural output has led to growing demands for sulfuric acid which in the Asia-Pacific region. Moreover, balanced demands for sulfuric acid in diversified chemical application such as synthesis of nylon via caprolactam and manufacturing of titanium dioxide will further boost the growth of the sulfuric acid market. Weaker sales due to surplus in the market and strict environmental regulations associated with sulfuric acid due to its toxicological effects are major factor restraining the growth of the sulfuric acid market globally.
Elemental Sulfur: The fastest growing market by raw material of sulfuric acid
The elemental sulfur was the fastest growing market by raw material of sulfuric acid in 2015. The rapid growth of elemental sulfur is attributed to the fact that it's the most efficient and less environment polluting raw material used for manufacturing of sulfuric acid. Moreover its overflowing stock in the market makes it a cost effective raw material for manufacturing of sulfuric acid making it the fastest growing market of sulfuric acid by raw material.
Automotive: The fastest-growing application for sulfuric acid
Automotive is the fastest growing application segment in the global sulfuric acid market. Use of sulfuric acid as an electrolyte in automotive batteries is expected to bolster its demand in the automotive application. Moreover growing use of hybrid and electronic cars is also likely to drive the demands for automotive application which use sulfuric acid as a key ingredient to run their batteries.
"Asia-Pacific: The fastest-growing market for sulfuric acid"
The Asia-Pacific region is the fastest-growing market for sulfuric acid, in terms of value and volume. Escalating population which leads to rise in demands for high quality food grains, rapidly thriving chemical manufacturing industries and growing shift of production facilities to the emerging economies of the region; the strong industrial base in the chemical sector, are the major factors contributing to the growth of the sulfuric acid market in this region.
This study has been validated through primaries conducted with various industry experts globally.
These primary sources have been divided into three categories, namely, by company, by designation, and by region.
- By Company Type- Tier 1- 45%, Tier 2- 22%, and Tier 3- 33%
- By Designation- C Level- 50%, Director Level- 10%, and Others- 40%
- By Region- Western Europe- 33%, North America- 17%, Asia-Pacific- 17%, Middle East & Africa- 25% and South America- 8%
The report also provides company profiles and competitive strategies adopted by the major market players, such as The Mosaic Company (U.S.), PotashCorp (Canada), Groupe Chimique Tunisien (Tunisia), Maaden - Saudi Arabian Mining Company (Saudi Arabia) and OCP group (Morocco), PVS Chemicals (U.S.), Aurubis (Germany), Chemtrade Logistics Income Fund (Canada), BASF SE (Germany), Akzonoble NV(Netherlands), DuPont(U.S), INEOS Enterprises (Switzerland), Agrium Inc. (Canada) among others.
The report covers sulfuric acid and its applications across different industry verticals and regions. It aims at estimating the market size and future growth potential of this market across different segments such as agents and application. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Reasons to buy this report:
From an insight perspective, this research report has focused on various levels of analyses — industry analysis (industry trends), market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the sulfuric acid market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on sulfuric acid offered by the top players in the global sulfuric acid market.
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the global sulfuric acid market.
- Market Development: Comprehensive information about lucrative emerging markets -the report analyzes the markets for sulfuric acid across regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global sulfuric acid market.
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global sulfuric acid market.
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