Sulfuric Acid Market is Expected to Grow at a Respectable 2.7% CAGR During The Forecast Period.
According to the latest report by Transparency Market Research, the global sulfuric acid market is expected to witness a robust growth in the forecast period of 2018 to 2026. The growth of the market is attributed to the rising demand for phosphate fertilizers for agricultural purposes in various countries across the globe. The report also states that the global sulfuric acid market is expected to witness this growth as a result of various leveraged opportunities by the players from different region of the world.
- Market to Reach at US$12,424.86 mn at the of the Forecast
According to the report, the global sulfuric acid market is expected to witness a consistent 2.7% CAGR during the forecast period. This growth of the market is attributed to rising demand for sulfuric acid in fertilizer manufacturing. The report also predicts that the market is expected to reach a staggering value of US$12,484.86 mn at the end of the forecast period. This revenue generation states that the market has tremendous opportunities for the players to grow substantially over the period time.
The information Presented in this Review is Based on Press-Release by TMR
- Rising Demand for Sulfuric Acid to Propel the Market
Sulfuric acid is majorly used as a raw material or as a processing agent in various verticals. The compound is extensively used in water treatment, fertilizer manufacturing, pharmaceuticals, steel production, and chemical processing. Due to these extensive applications, the global sulfuric acid market is expecting a major boost in coming years. Due to its highly corrosive nature, sulfuric acid is used to clean steel surfaces, prior to being coated with Tin layers for manufacturing food canisters. Furthermore, it also used in manufacturing of titanium dioxide which is used as a pigment in various industries. Due to these applications, the global sulfuric acid market is expected to witness a major boost in the forecast of 2018 to 2026.
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