Market Size – USD 11.09 billion in 2019, Industry Growth – CAGR of 2.8%, Market Trends – Growing demand for sulfuric acid in petroleum refining
New York, May 20, 2020 – The global sulfuric acid market is expected to reach USD 13.88 Billion by 2027, according to a new report by Reports and Data. Growing demand for fertilizers for high crop yield is one of the significant factors influencing the market growth. Fertilizers allow farmers to increase their crop yield by boosting the productivity of the agricultural land, as well as can make an otherwise less productive land produce substantial yields. Fertilizers are formulated to support the yield of certain plants by allowing the plants to absorb the essential macro and micronutrient easily. The worldwide demand for fertilizers has witnessed a decent pace of growth, with the demand being more than 138 million tons in the year 2000 and rose to around 210 million tons in the year 2019.
Sulfuric acid finds extensive application in automotive industries in the production of automobile batteries. This battery provides the requisite electricity needed to put electrical components to function, as well as converts chemical energy into the electrical energy that powers automobiles and gives energy to its starter. Also, it stabilizes the energy supply that keeps the engine running. According to the statistics released by the World Economic Forum, the number of passenger cars on the roads across is expected to increase two-fold by the year 2040, resulting in an increased demand for car batteries, and in turn, the demand for sulfuric acid
Get a Sample of the Report @ https://www.reportsanddata.com/sample-enquiry-form/3113
However, volatility in the prices of raw materials for producing sulfuric acid may create hindrances in the growth of the market in the upcoming years.
COVID-19 Impact
The COVID-19 pandemic is having a significant impact on the chemicals & materials industry. Demand for chemicals is suffering severe shocks across various end-use markets, worldwide supply chains are upset, and the competitive order of manufacturers/producers has witnessed a change. The shortage of demand has fast-tracked the global chemical sector into an oversupply situation. Lack of free movement of the labor force required for the application of fertilizers in the agricultural fields is lacking, thereby hindering the growth of the market in the COVID-19 pandemic. Movement restrictions appear to be a direct and immediate effect, and once the compulsory social distancing ends, it is expected things would get back to normal conditions.
Key participants include:
For the purpose of this report, Reports and Data have segmented the global sulfuric acid market on the basis of raw materials, distribution channel, application, and region:
Raw Materials Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)
Distribution Channel Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)
Application Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)
Regional Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)
Further key findings from the report suggest
Table Of content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Sulfuric Acid Segmentation & Impact Analysis
4.1. Sulfuric Acid Material Segmentation Analysis
……
Chapter 10. Company Profiles
10.1. BASF SE
10.1.1. Company Overview
10.1.2. Financial Performance
10.1.3. Technology Insights
10.1.4. Strategic Initiatives
10.2. DuPont
10.2.1. Company Overview
10.2.2. Financial Performance
10.2.3. Technology Insights
10.2.4. Strategic Initiatives
10.3. Akzonobel NV
10.3.1. Company Overview
10.3.2. Financial Performance
10.3.3. Technology Insights
10.3.4. Strategic Initiatives
10.4. Solvay
10.4.1. Company Overview
10.4.2. Financial Performance
10.4.3. Technology Insights
10.4.4. Strategic Initiatives
10.5. Chemtrade Refinery
10.5.1. Company Overview
10.5.2. Financial Performance
Continued….
Request for Customization of Report @ https://www.reportsanddata.com/request-customization-form/3113
Thank you for reading our report. Customization of the report is available according to the requirements of the clients. Kindly get in touch with us to know more about the report, and our team will ensure the report is tailored according to your needs.
About Reports and Data: Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.
Media ContactCompany Name: Reports and DataContact Person: John WatsonEmail: Send EmailPhone: +1-212-710-1370Address:40 Wall St. 28th floor City: New York CityState: NY 10005Country: United StatesWebsite: https://www.reportsanddata.com/report-detail/sulfuric-acid-market