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. Moreover, the application of sulfuric acid in numerous cleansing products is also expected to be a major factor to propel the growth of global sulfuric acid market in the forecast of 2018 to 2026.
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With these insights, the players can have a clear idea about the dynamics and opportunities of the global sulfuric acid market. These insights can help the players make better decisions and have better profit quotients during the forecast period.
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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.
Application of sulfuric acid in production of phosphate fertilizers is a key factor that is expected to fuel the growth of global sulfuric acid market in coming years. Since, phosphate fertilizers are considered as the best fertilizer for agriculture, hence its demand is supporting the growth of the market. Moreover, various other applications in chemical sector are yet another factor that is expected to influence the growth of global sulfuric acid in coming years.
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The study presented here is based on a report by Transparency Market Research (TMR), titled, “Sulfuric Acid Market (Application - Fertilizers, Chemical Synthesis, Wastewater Treatment, Metal and Mining, Semiconductors, Others (include Paper & Pulp and Pharmaceutical)) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026.”
The global sulfuric acid market is segmented on the basis of:
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