The Regional Sulfuric Acid Market Report and Forecast 2022-2027 by Procurement Resource’s gives an extensive outlook of the global sulfuric acid market, measuring the market on the basis of its divisions such as source, type, product, distribution channel, and main regions.
Overview of Market
The Sulfuric acid market size has reached 288.67 MMT in 2021 with a projected sulfuric market share to grow at a size of 1.5 percent in the forecast timeframe of 2022-2027. The sulfuric acid market is likely to draw up a sulfuric acid market volume 315.67 by 2027.
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Based on application, the market of sulfuric acid is sectioned into metal processing, chemical manufacturing, textile industry, pulp and paper and others. The demand of the better-quality crops of food are increasing with the growing population across the world. Because of the rapid urbanisation and industrialisation, there is a decrease in hectares of arable land so the chemicals such as fertilisers tend to increase the yield of the crop by the farmers. The use of sulfuric acid in the manufacturing of the fertilisers is anticipated to rise the market growth.
Industrial Definition and Major Segments
It the Ancient times, it was known as the condemnation of the oil. It is the mineral acid which consists of the segments of sulfur, oxygen, and hydrogen. It is also called as sulphuric acid by name. As its intensely like water vapour, therefore it does not exist easily on the earth in its natural form. It is a gelatinous liquid which is miscible with the water, on the other hand it is odourless and colourless. It immerses up the water vapour present in the air, hence it is hygroscopic in nature.
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The sulfuric acid industry report is grouped into categories:
By end user: Chemicals and fertilisers
By Region: Asia Pacific, Latin America, North America, Africa, Europe, and the Middle East.
Sulfuric acid Market Trends
Boliden with Metso Outotec contracted the financing of expansion in Odda zinc smelter. The contract consisted of sulfuric acid plant, engineering services, leaching technology and other things as well On December 22, 2022. The investment of expansion will take place between the year 2021 to 2022 in Odda.
An autonomous agriculture with the different approach to the technology by Sabanto Ag on August 18, 2022. For the easy implementation of unmanned farming maneuvers for the software solutions and offering the retrofit kits to the existing tractors. In the vital areas of autonomy in agricultural science and equipment of the farming which are involved in the extended investments for the growth ventures of portfolio of Yara.
Key Market Players
The sulfuric acid key players are Yara International, Chevron Phillips, ExxonMobil, Formosa Plastics Corp., and CF Industries. The industry report covers the investments, and acquisitions, market shares, capacities, mergers, plant turnarounds, and expansions, among other latest sulfuric acid market development of these market players.
The sulfuric acid market analysis studies the latest updates in the market, along with their control across the market. The report also analyses the market demand, together with sulfuric acid market price and demand indicators. The report also traces the market on the foundations of Porter’s Five Forces Models and SWOT.
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