Sulfuric Acid Market expected to reach 324.1 million tons in terms of Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

Posted February 2, 2022 by neha_s

Sulfuric acid is a viscous liquid that is soluble in water, and its color varies from yellow to colorless, depending upon the concentration.
Sulfuric acid is a viscous liquid that is soluble in water, and its color varies from yellow to colorless, depending upon the concentration. Its strong acidic nature allows it to corrode living tissues and metal surfaces. It is mostly used for the application such as fertilizers, automotive batteries, water treatment, paper bleaching.

Sulfuric acid finds various applications across a broad spectrum of industries, and its single largest application is in the production of fertilizers. Key players in the market are adopting various business strategies such as mergers and acquisitions to expand their global footprint. For instance, in 2016, Fanchem Ltd., a subsidiary of PVS Chemicals, Inc., acquired Benson Chemicals Limited based in Canada. This will help Fanchem to expand its presence in Canada.

The molecular formula for sulfuric acid is ‘H2SO4. It is categorized as a strong mineral acid with high corrosive abilities.

The global sulfuric acid market was pegged at 266.2 million tons in 2018 and is expected to exhibit a CAGR of 2.3% in terms of volume over the forecast period (2019 – 2027), and is expected to reach 324.1 million tons by 2027.

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Market Dynamics
North America potassium sulphate market growth is mainly driven by presence of major market players and their strategies such as mergers and acquisitions, product launches, and partnerships with fertilizer manufacturers. For instance, in 2016, compass minerals launched Potassium+ Organic. It is an organic sulphate of potash (SOP), which offers high potassium and plant-available sulphate sulfur. This product is approved for organic food production by various organization such as the Organic Materials Review Institute (OMRI), California Department of Food and Agriculture (CDFA), and USDA National Organic Standards Board (NOSB).

However, stringent government regulations on usage of sulfuric acid, owing to hazardous effects of the strong acidic mixture are expected to restrain growth of the global sulfuric acid market.

Top Keyplayers: PVS Chemicals, BASF SE, Akzo Nobel N.V., DowDuPont Inc., Unigel Group, Boliden Group, Ineos Enterprises Limited, Trident Chemicals, Aurubis AG, Climax Molybdenum B.V., and Amal Ltd.

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Issued By Coherent Market Insights
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Categories Business , Industry
Last Updated February 2, 2022