18 September 2018: Sulfuric acid is a water-soluble, colorless clear liquid mineral acid that is usually produced in mining industries when metal ores are smelted. It finds applications in a variety of industries including chemical manufacturing, textile industry, petroleum refinery, automotive, fertilizers, metal processing, and paper & pulp. It is also used in the production process of various products such as batteries, automotive parts, agricultural chemicals, veterinary medicines, synthetic fibers, jet fuel, and many others.
Sulfuric Acid to Have Maximum Demand in Fertilizers Manufacturing
Fertilizers led the application segment for sulfuric acid in 2016 accounting for 54 % of the overall revenue share. The segment is expected to continue the trend even during the forecast period i.e., from 2017 to 2025. This growth is attributed to the rising demand for the production of phosphate fertilizers for enhancing the quality of irrigation water. Reduced arable lands, caused due to growing urbanization and industrialization across the globe, have forced farmers to use fertilizers for better crop yield. This factor is projected to fuel the demand for fertilizers, thereby boosting the segment’s growth over the next few years. Other application segments including petroleum refining, chemical manufacturing, and metal processing are also likely anticipated to witness a substantial growth rate during the forecast years.
Companies working in this field focus on M&A activities and invest heavily in the production of sulfur and byproducts. One of such industry development includes a contract signed between Yidu Xingfa Chemical Co. Ltd. and DuPont Clean Technologies.
DuPont has recently received an agreement contract from Yidu Xingfa for the engineering and technology license for a sulfuric acid plant in China (3600 tpd MECS MAX3). The new plant will be able to process up to 1.2 MMtpy of sulfuric acid and also support the creation of another 400,000 tpy of acid and 35000 tpy of potassium phosphate monobasic.
Market Overview
Based on the findings of a research report by Grand View Research, Inc.; the sulfuric acid market is estimated to reach at $ 13.45 billion by 2025 growing at a CAGR of 3.3 % from 2017 to 2025. This growth can be credited to the rising investments in plant facilities as a result of increasing production capacity of phosphate fertilizers along with stringent regulatory scenarios by various governments. In addition, escalating product demand as a dehydrating agent, reactant, and catalyst from various application sectors is also likely to boost the market development in near future. Akzo Nobel N.V.; Solvay S.A.; and E. I. du Pont de Nemours and Co. are the pioneers in the global sulfuric acid market.
In-Depth Research Report On Sulfuric Acid Market:
https://www.grandviewresearch.com/industry-analysis/sulfuric-acid-market
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