According to TechSci Research report, "Global Sulphuric Acid Market, By Manufacturing Process, By Application, By Region Competition Forecast and Opportunities, 2011 - 2025", the global sulphuric acid market is projected to register sales of $18 Billion in 2020, on account of surging demand for phosphate fertilizers such as DAP (diammonium phosphate), MAP (monoammonium phosphate), TSP (triple superphosphate), SSP (single superphosphate), etc. Global demand for phosphate fertilizers is projected to increase from 42.1 million tons in 2015 to 45.6 million tons by 2019. Furthermore, global phosphoric acid production is anticipated to increase from 46 million tons in 2015 to 51.9 million tons by 2019, thereby augmenting consumption of sulphuric acid for production of phosphate fertilizers in the coming years. Thus, expanding capacity to produce more phosphates, coupled with growing application of sulphuric acid as a raw material for chemical manufacturing processes and in metal leaching are further expected to drive global sulphuric acid market through 2025.
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"Global Sulphuric Acid Market"
Global sulphuric acid market was dominated by Asia-Pacific in 2015, and the trend is anticipated to continue through 2025, owing to vast production capacity of sulphuric acid and phosphate fertilizers. The region houses elemental sulphur and base metal smelters in countries such as China, India, South Korea and Japan. Moreover, sulphur combustion dominated global sulphuric acid market in 2015, and is expected to further continue dominating the market through 2025, owing to increasing desulphurization of fuels. Furthermore, sulphur combustion provides economic benefits to refinery and petrochemical plant owners, as they can easily capture sulphur through installation of a desulphurization unit.
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"Europe is expected to witness imbalance in demand and supply equilibrium of sulphuric acid in the coming years, on account of declining demand from traditional customers of European smelters. However, owing to growing demand for phosphate fertilizers in APAC, coupled with expanding production capacity in various regions across the globe to drive global sulphuric acid market through 2025.", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"Global Sulphuric Acid Market By Type, By Manufacturing Process, By Application By Region, Competition Forecast and Opportunities, 2011-2025" has evaluated the future growth potential of global sulphuric acid market and provides statistics and information on market structure, size, share and future growth of global sulphuric acid market. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities in global sulphuric acid market.
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