Orion Market Research (OMR) recently published a market research report on Global Sulfuric Acid Market. It is estimated that the market is augmenting with a lucrative growth rate during the forecast period 2018-2023. The global sulfuric acid market is segmented into manufacturing process, application, and type. The report provides detailed and insightful chapters which includes market overview, key findings, strategic recommendations, market estimations, market determinants, key company analysis, company profiling, market segmentation, geographical analysis, analyst insights.
Sulfuric acid has significant production globally. It is a strong acid manufactured by oxidizing solutions of Sulphur-dioxide. The concentrated form of acid is an oily, dense, corrosive. The market is expected to grow growing rapidly due to increasing demand of the Sulphur based products, rising demand in industrial and fertilizer sector globally. Sulfuric acid which is majorly used in chemical manufacturing industry for making phosphate fertilizers. It is also used in several other industries such as agriculture for fertilizers, automotive in batteries, pharmaceuticals for manufacturing synthetic detergents and so on. Additionally, sulphur acid has a considerable utilization in sugar bleaching, paper bleaching, water treatment, cellulose fibers, and coloring agents.
Significant growth in parent market is a one of the major factors augmenting the demand of sulfuric acid market. Sulfuric acid is used to produce fertilizer and fertilizer segment have a major market share in sulfuric acid market. As per International Fertilizer Association, in 2016, total fertilizer sales were 186 million tons and it is expected to reach 198 million tons by 2021 growing at 1.3% per annum. It is also expected that the fertilizer industry will invest about $110 billion during 2017-2021 and will develop more than 65 new production facilities.
Automotive sector is another major market for sulfuric acid due to usage of sulfuric acid in vehicle battery. It is used as electrolyte in battery. Rising automotive market will augment the battery market and so as the demand of sulfuric acid. As per International Organization of Motor Vehicle Manufacturers about 97 million 4-wheeler vehicles were sold in 2017 with a growth rate of 3.1% year on year basis. Lead-acid batteries remain installed in the new vehicles. Additionally, replacement of battery is required in the regular time interval of 3-5 years is required depending on vehicle and usage of battery.
Electrical vehicle is the new segment emerging in the automotive field. Major car companies are using lithium ion batteries as a power source of the vehicle, however, for SLI (Starter, Lighting and Ignition) application, most of the vehicle still uses an additional 12V lead-acid battery. Additionally, in the price sensitive region such as India and China, many small vehicle manufacturers use lead acid battery for reducing the overall cost of the vehicle. Small Taxi or Auto E-rickshaw companies have widely accepted lead acid battery as a power source. Due to modest growth rate in different industrial sector a significant increment in the sulfuric acid market can be predicted during the forecast period (2018-2023).
The report covers:
Comprehensive research methodology of Global Sulfuric Acid Market.
This report also includes detailed and extensive market overview with key analyst insights.
Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
Analysis of regional regulations and other government policies impacting the Sulfuric Acid Market.
Insights about market determinants which are stimulating the Sulfuric Acid Market.
Detailed and extensive market segments with regional distribution of forecasted revenues.
Extensive profiles and recent developments of market players.
About Orion Market Research
Orion Market Research (OMR) is an Indian research company known for its crisp and concise reports. The company is equipped with an experienced team and young brigade of analysts. The company provides quality syndicated research reports, customized research reports, Company profiling, consulting and other research-based services. OMR provide global and regional market reports of various domains such as healthcare, energy, IT, chemicals, and automobiles. OMR provide a 360-degree view of the market with parametric analysis, key market insights, key findings, statistical forecasts, competitive landscape, extensive segmentation, key trends, strategic recommendations and detailed company profiles.
For more information, visit: https://www.omrglobal.com/industry-reports/sulfuric-acid-market/