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(Transportation-News.com, August 22, 2018 ) Industry Outlook and Trend Analysis
The Sulfuric Acid Market was worth USD 8.99 billion in the year 2014 and is expected to reach approximately USD 11.96 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 3.22% during the forecast period. The ascent can be ascribed to the existence of stringent natural directions to control emanations, which is foreseen to prompt the expanded usage of smelters to catch sulfur dioxide products. Expanding requirement for the product from paper & pulp, fertilizers, metal processing, chemical manufacturing, petroleum refinery, and automotive ventures for use as a reactant, catalyst, and a dehydrating agent is anticipated to help the business over the predictable period. Rising worries about high harvest yield and incredible quality of food from agricultural area are anticipated to boost the fertilizer market development, which will thusly to trigger sulfuric acid market. Factors, for example, unpredictability in the raw material costs because of the rising usage from phosphate fertilizer makers amid tight supply period and the usage of different directions for the creation of environmentally-friendly products, are anticipated to adversely affect the business development. An expansion in the usage of models, for example, New Source Performance Standards (NSPS) to manage the outflows of particulate matter, sulfur dioxide, sulfuric acid mist, and nitrogen oxides from H2SO4 generation facilities is anticipated to boost the market in the upcoming years.
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Raw Material Outlook and Trend Analysis
In 2016 Elemental sulfur raw material portion got huge share of the overall industry and is anticipated to advance at the quickest rate over the conjecture time frame. The raw material makes less contamination when compared with pyrite metal or base metal smelters and is accessible in plenitude in the business. Keeping in mind the end goal to confine or check environmental contamination, an expansive number of organizations have received stringent measures to treat the discharged sulfur gas before discharging it into the air. Rising developmental exercises, for example, upgrading the generation capacities of organizations to spur the manufacturing of sulfuric acid items from basic sulfur are anticipated to trigger the market development. China is the main producer of pyrites and most of the share of this raw material is used for creating sulfuric acid. Strict measures are probably going to be attempted by the makers for digging pyrites for the generation of acid products as they are less natural inviting in contrast with elemental sulfur. These components are probably going to make a block the development of pyrite mineral raw material fragment. Canada and Mexico are the merchants of sulfuric acid, which is composed from the result of smelters. The product is imported from the United States. Expanding requirement for ecologically commanded smelter limit with regards to the generation of sulfuric acid is probably going to drive market over the estimate time frame.
Application Outlook and Trend Analysis
In 2016 Fertilizers was the noteworthy application fragment and represented around 54 percent of the general market income. Expanding interest for enhanced nature of harvest and rising populace all inclusive are probably going to boost the market over the predictable period. Fast urbanization and industrialization are bringing about the diminishment of arable land, which thus is driving the farmers to make use of fertilizers for expanding crop yield. Rising usage of H2SO4 for the generation of value manures for farming use to support creation capacities is anticipated to impel market development
Chemical and Petroleum refineries are generally engaged with the generation of tainted sulfuric acid, bringing about the recovery of unadulterated and concentrated H2SO4 products. The recovered acids radiate low discharges prompting decreased production costs, which makes it environmentally friendly and sustainable.
Regional outlook and Trend Analysis
In 2016 Asia Pacific was the biggest regional fragment and represented around 46 percent of the aggregate income. Expanding generation of sulfur from Japan and China is foreseen to boost the product offerings of sulfuric acid in this area. Rising requirement for H2SO4 from the Indonesia and Philippines is anticipated to help Asia Pacific regional market over the conjecture time frame. The costs of sulfuric acid are fortifying because of the rising interest for the product in Asia Pacific. Expanding need to extend the generation of phosphate manure because of rising compost segment and stringent environmental controls concerning the assembling of ecologically friendly product is probably going to support the market over the coming years. Rising demand from phosphoric and industrial acid divisions attributable to an expansion in the development of harvests and higher product yields is expected to trigger development in China market. The developing supply of H2SO4 products from Morocco and Saudi Arabia is anticipated to goad the market over the predictable period. An expansion in the quantity of acid plants to fulfill developing buyer demand alongside the rising supply of sulfur-consumed acids in the Middle East is anticipated to fuel the market in the upcoming years.
Competitive Insights
The market id extensively competitive with a number leading players such as PVS Chemical Solution, BASF, Chemtrade, DuPont, Akzo Nobel India Ltd and Agrium. A substantial number of organizations are essentially engaged with joint ventures, acquisitions, and mergers to improve their product portfolio and achieve a huge place in the market. For example, in June 2016, Veolia captured control over the sulfur product division of Chemour to fortify the organizations administrations in oil and gas industry for the reusing and treatment of mechanical waste in the United States. A few organizations are following investment and development procedures to reinforce their creation capacities and infiltrate into the developing markets. An expansion in the quantity of H2SO4 producers and providers is anticipated to help market development over the estimate time frame.
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The Sulfuric Acid Market is segmented as follows-
By Raw Material:
Base metal smelters
Elemental sulfur
Pyrite ore
Others
By Application:
Fertilizers
Metal processing
Textile industry
Paper & pulp
Chemical manufacturing
Petroleum refining
Automotive
Others
By Region
North America
U.S
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia Pacific
Rest of the World
Brazil
South Africa
Saudi Arabia
United Arab Emirates
Others
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
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Qurate Business Intelligence
Nehal Chinoy
+919881074592
nehal@qurateresearch.com
Source: EmailWire.Com 
Source: EmailWire.com
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