Automotive tire market Industry Size, Growth & Forecast to 2023 Sulfuric Acid Market PDF file | Page 2

“Growing industrial sectors will increase the demand of sulfuric acid”
Orion Market Research (OMR) recently published a market research report on Global Sulfuric Acid
Market. It is estimated that the market is augmenting with a lucrative growth rate during the forecast
period 2018-2023. The global sulfuric acid market is segmented into manufacturing process, application,
and type. The report provides detailed and insightful chapters which includes market overview, key
findings, strategic recommendations, market estimations, market determinants, key company analysis,
company profiling, market segmentation, geographical analysis, analyst insights.
Browse Full Report of Sulfuric Acid Market At: Global Sulfuric Acid Market
Sulfuric acid has significant production globally. It is a strong acid manufactured by oxidizing solutions of
Sulphur-dioxide. The concentrated form of acid is an oily, dense, corrosive. The Sulfuric Acid market is
expected to grow growing rapidly due to increasing demand of the Sulphur based products, rising
demand in industrial and fertilizer sector globally. Sulfuric acid which is majorly used in chemical
manufacturing industry for making phosphate fertilizers. It is also used in several other industries such as
agriculture for fertilizers, automotive in batteries, pharmaceuticals for manufacturing synthetic
detergents and so on. Additionally, sulphur acid has a considerable utilization in sugar bleaching, paper
bleaching, water treatment, cellulose fibers, and coloring agents.
Significant growth in parent market is a one of the major factors augmenting the demand of sulfuric acid
market. Sulfuric acid is used to produce fertilizer and fertilizer segment have a major market share in
sulfuric acid market. As per International Fertilizer Association, in 2016, total fertilizer sales were 186
million tons and it is expected to reach 198 million tons by 2021 growing at 1.3% per annum. It is also
expected that the fertilizer industry will invest about $110 billion during 2017-2021 and will develop
more than 65 new production facilities.
Automotive sector is another major market for sulfuric acid due to usage of sulfuric acid in vehicle
battery. It is used as electrolyte in battery. Rising automotive market will augment the battery market
and so as the demand of sulfuric acid. As per International Organization of Motor Vehicle
Manufacturers about 97 million 4-wheeler vehicles were sold in 2017 with a growth rate of 3.1% year on
year basis. Lead-acid batteries remain installed in the new vehicles. Additionally, replacement of battery