Sulfuric acid, which has the chemical formula H2SO4, is an indispensable part of the industrial sector. It goes into the production of several other chemical compounds, and there’s hardly an industrial sector worldwide that doesn’t use sulfuric acid in one form or another given its highly reactive nature. With a bevy of applications where it witnesses demand, the global sulfuric acid market has been reporting steady growth over the years.
It is used in the production of synthetic chemicals and while producing fertilizers. It is also pivotal to applications that require pH neutralization – especially in the wastewater industry. Given its desirable attributes as a leaching agent, sulfuric acid is also used in mining and metal applications.
Rising Demand for Chemicals Augurs well for Sulfuric Acid Market
The demand for fertilizers is rising considerably in developing economies with a strong agrarian base. With countries such as India, China, and Brazil are consuming tons of fertilizers every year, the use of sulfuric acid will also show an uptick in these regions. The chemicals industry in China has established its supremacy in terms of both production and consumption of chemicals. As the largest producer of chemicals in the world, China produces over 45,000 different types of chemicals every year. This has attracted foreign companies to make investments in China’s thriving chemicals industry. All of these factors will make the sulfuric acid market in China especially strong.
Fertilizers Industry to Consumer Highest Volume of Sulfuric Acid
The consumption of sulfuric acid will remain the highest in the fertilizers sector as there is currently a pressing need to increase productivity of crops even with arable the amount of arable land reducing to make way for urban infrastructure. In 2014, the fertilizers segment alone consumed over 60% of the sulfuric acid produced worldwide. The demand for sulfuric acid in chemical synthesis is also on the rise and this space will generate massive demand for sulfuric acid over the next six to seven years.
It is used in the production of synthetic chemicals and while producing fertilizers. It is also pivotal to applications that require pH neutralization – especially in the wastewater industry. Given its desirable attributes as a leaching agent, sulfuric acid is also used in mining and metal applications.
Rising Demand for Chemicals Augurs well for Sulfuric Acid Market
The demand for fertilizers is rising considerably in developing economies with a strong agrarian base. With countries such as India, China, and Brazil are consuming tons of fertilizers every year, the use of sulfuric acid will also show an uptick in these regions. The chemicals industry in China has established its supremacy in terms of both production and consumption of chemicals. As the largest producer of chemicals in the world, China produces over 45,000 different types of chemicals every year. This has attracted foreign companies to make investments in China’s thriving chemicals industry. All of these factors will make the sulfuric acid market in China especially strong.
Fertilizers Industry to Consumer Highest Volume of Sulfuric Acid
The consumption of sulfuric acid will remain the highest in the fertilizers sector as there is currently a pressing need to increase productivity of crops even with arable the amount of arable land reducing to make way for urban infrastructure. In 2014, the fertilizers segment alone consumed over 60% of the sulfuric acid produced worldwide. The demand for sulfuric acid in chemical synthesis is also on the rise and this space will generate massive demand for sulfuric acid over the next six to seven years.
Browse Industry Research Report: http://www.transparencymarketresearch.com/sulfuric-acid-market.html
No comments:
Post a Comment