Sulfuric Acid Market
REPORT DESCRIPTION
Sulfuric Acid Market - Global Industry Analysis , Size , Share , Growth , Trends and Forecast 2015 - 2023
The global sulfuric acid market is characterized as a highly competitive and fragmented in nature , thanks to the presence of a large number of players operating in it , states a research study by Transparency Market Research ( TMR ). In 2014 , the leading players in the global sulfuric acid market , namely PotashCrop , The Mosaic Company , and Vale Fertilizers collectively accounted for a share of 10.5 % of the overall market . In order to earn higher revenues and to change the pace of the market , key players are focusing on strategic collaborations and mergers and acquisitions . In addition , the development of effective and high-performance products are some of the other factors anticipated to encourage the growth of the market in the near future . However , the sluggish growth owing to the capital intensive nature is likely to restrict the growth of the market in the coming years .
According to the Transparency Market Research , in 2015 , the global market for sulfuric acid was worth US $ 69.3 bn and is anticipated to reach a value of US $ 85.4 bn by the end of 2023 . The market is likely to register a 2.60 % CAGR between 2015 and 2023 .
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Asia Pacific to Remain Dominant in Global Sulfuric Acid Market Among the key geographical segments , in 2015 , Asia Pacific accounted for around half of the global sulfuric acid market and is expected to remain in the topmost position throughout the forecast period . The presence of a large number of players in the chemical industry across China is one of the vital factors anticipated to fuel the growth of the sulfuric acid market in Asia Pacific . On the other hand , Europe and North America are expected to witness steady growth throughout the forecast period , owing to the expansion of the application base across diverse industries .
On the basis of application , the global market for sulfuric acid has been classified into chemical synthesis , metal and mining , wastewater treatment , fertilizers , pharmaceuticals , and paper and pulp . Among these , the fertilizers segment is expected to lead the global sulfuric acid market and is likely to account for a key share throughout the forecast period . The growing focus of key players on research
Transparency Market Research
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