Infinium Global Research’s recent report on the “Sulfuric Acid Market (Sulfur-based Production (Sulfur-Based, Pyrite Roasting, and Smelter By-Product), Application (Phosphate Fertilizer Production, Chemical Production, Metal Processing, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026” provides a comprehensive outline of the factors responsible for the growth of the market. According to the report, the global market for Sulfuric Acid was sized near USD 75.8 billion in 2020 and is expected to reach USD 95.5 billion by 2026 growing with a CAGR of 3.4% over 2020-2026.

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Sulfuric acid is one of the most important industrial chemicals and is used for various applications including fertilizers, chemical production, and metal processing. The global sulfuric acid market is expected to grow on the demand coming from the industries of fertilizers, and chemical production. Phosphate fertilizer production accounts for the largest application segment with a market share of 64.04% in 2019. Sulfuric acid is also used in the manufacturing of chemicals, pigments, dyes, nitric acid, and sulfate salts. Sulfuric acid is used for pickling in metal processing such as steel processing. It helps in removing impurities and rust from the surface. The increase in the demand for metal processing due to an increase in impurity levels is driving the demand for sulfuric acid. The global steel market was 1.87 billion metric tons of steel in 2019 and is expected to reach around 2.10 billion metric tons by 2020, growing at a CAGR of 1.92%.

The adverse effects of the COVID-19 pandemic are plummeting to major sectors of the global economy, with the chemicals industry experiencing the impact of the pandemic from every direction. The supply chains in the industry are being disrupted by outbreaks in key regions and the demand has fallen due to uncertainty in the global economy and capital markets. Furthermore, the fertilizer sector has been affected since the beginning, primarily in China which is the most important producer and consumer of phosphates, sulfur, and sulphuric acid. While going onward it could be Brazil and India that hit the headlines.

The reaction on prices has been mixed with a tighter supply of phosphates owing to the production constraints in China. It has prompted a reversal in the downward trend while the price of sulphuric acid has all but collapsed. The same logistical issues are now being felt in other regions of the world where the virus is swelling in Europe, Asia, and the Americas. Moreover, the COVID-19 pandemic and its disruption to industrial production have begun to impact metals production, especially steel. It was a difficult period for the industry in 2019 when it struggled with tariffs and experienced early signs of a demand slowdown.

Growing Demand for Food Due to Increasing Population to Drive the Phosphate Fertilizer Production Segment in the Market

Based on application, the global sulfuric acid market is categorized into phosphate fertilizer production, chemical production, metal processing, and others. Among these, the phosphate fertilizer production segment accounts for the largest market share in 2019. Rapidly growing population, increasing consumption of meat, and diversified demand for foods drive the phosphate fertilizer production segment of the global sulfuric acid market.

Increasing the population leads to an increase in the demand for grains as well as cereals which are estimated to fuel the growth of phosphate fertilizer production. Phosphate is the vital nutrient required by plants for optimum crop production; hence to meet the upsurging demand for food, the crop yield can be increased with help of phosphate fertilizers as the usage of phosphorus in chemical fertilizers and feed supplements aid in soil’s nutrition. The chair works with three individual moving parts that massage the user sitting on it.

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Sulfuric Acid Market to Witness Entry of New Market Players Over the Forecast Years

The global Sulfuric Acid Market is consolidated with the existence of large and small vendors. The players operate in a highly competitive market environment. The leading players in the global Sulfuric Acid market are BASF SE, Akzo Nobel N.V., DuPont de Nemours, Inc., Evonik Industries, Jacobs, Vale S.A., Honeywell International Inc., Solvay, and Khaitan Chemicals & Fertilizers Limited. The dominant players have a vast geographic presence with huge production facilities. The sizeable number of small regional players that operates in this market also has some significant shares. With the increase in innovation and technology, the market is expected to have more intense competition in the future.

Main players have maintained market share by expansion. The new players coming mainly from Central Asia and Southeast Asia can pose a serious challenge to the medium players in that region. The rising demand for Sulfuric acid across various applications like the fertilizer Industry is re-intensifying competition and is pushing the vendors to reduce the prices of their products. Sulfuric Acid is a low-technology product and the demand for sulfuric acid in the next five years is likely to grow with the overall growth in the end-use industries such as agriculture and foods and the oil & gas industry.

Infinium Global Research’s recent report on the global sulfuric acid market is an encompassment of such recent developments in the global marketplace. The report delivers insights into the leading players that have contributed greatly to the growth of the market and also estimates the impact of product innovations, similar to that of the aforementioned product on the global market.

Asia Pacific Region to Generate Highest Revenue in the Global Sulfuric Acid Market

Among the geographies, the sulfuric acid market is segmented into North America, Europe, Asia Pacific, and RoW. The Asia Pacific is the largest and the fastest-growing geographical segment for sulfuric acid, and the largest metal-producing region, globally. It is also one of the major agriculture markets. There is an increase in food demand from the increasing population, especially in developing countries such as India and China. Also, China is one of the largest producers of chemicals, globally. All these factors have led to the requirement for increased yields thus, driving the demand for fertilizers. This translates into the demand for sulfuric acid for manufacturing fertilizers.

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