Albany, NY -- (SBWIRE) -- 10/22/2018 -- Sulfuric dioxide is a strong airborne pollutant and a declared carcinogen. Known to cause severe respiratory disorders in humans, the usage of sulfuric acid has consistently decreased in the past decade owing to stringent government regulations and the future of the market for the same isn't very encouraging. However, stockholders connected to the value chain of the global sulfuric acid market will continue gaining moderate opportunities thanks to rapid industrialization in China and lucrative prospects of phosphate fertilizers. According to the findings of this business intelligence study – the demand in the global sulfuric acid market will increment at a CAGR of 2.8% during the forecast period of 2017 to 2023. Revenue-wise, this long-established market for sulfuric acid is estimated to attain a valuation of US$85.4 billion by the end of 2023, swelling up from the market's evaluated worth of US$72.4 billion as of 2017.
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Fertilizers continue to be Market's Key Application Segment
This report has evaluated the potential of demand from the end use application of fertilizers, wastewater treatment, chemical synthesis, metal and mining, and others, such as paper and pharmaceuticals. Out of these application segments, the sulfuric acid market is gaining maximum demand from fertilizers, and although this segment is expected to experience slower growth rate than others over the course of 2017 to 2023, it will continue to remain most in-demand. Fertilizers such as superphosphates, ammonium phosphate and ammonium sulfates are manufactured using sulfuric acid. As of 2017, there was a demand for 179.57 million tons of sulfuric acid from the manufacturers of fertilizers, constituting for a revenue of US$46.68 billion. By the end of 2023, this segment is expected to generate 65% of the total demand in the overall sulfuric acid market.
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Global Sulfuric Acid Market Shares Distributed in Fragmented
Regarding the competitive landscape of the global sulfuric acid market, this report has identified some of the key players that manufacture and supply hydrogen sulfide gas, such as Praxair, Inc., Bechtel Corporation, and Nalco Ecolabs. Furthermore, Vale Fertilizantes S/A, Solvay S.A., and Abu Dhabi Gas Development Company Limited. Prominent manufacturers of sulfuric acid include The Mosaic Company, The Chemours Company, BASF SE, Khaitan Chemicals & Fertilizers Limited, and Akzo Nobel N.V. Sulfuric acid is supplied through various distribution channels such as direct selling, bulk sale, distribution contracts with regional marketing & supply agencies, and online portals. Chemtrade Logistics Inc. is engaged in bulk sale, while Sigma-Aldrich Corporation is one of the largest online portals.