Sulfuric Acid Market
and development activities is estimated to expand the application base of sulfuric acid , thus fuelling the growth of the overall market in the forecast period . The chemicals segment is anticipated to witness robust growth in the next few years , owing to the rising demand for sulfuric acid in making chemicals , including sulfate salts , nitric acid , hydrochloric acid , drugs , and explosives .
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Rising Demand for Fertilizers to Encourage Market Growth The global market for sulfuric acids is projected to witness progressive growth throughout the forecast period , states a TMR analyst . The expansion of the phosphate fertilizers market across the globe is expected to boost the consumption of sulfuric acid , thus encouraging the growth of the overall market . In addition , the rising pace of industrialization in China is expected to encourage the growth of the overall market in the next few years .
Furthermore , the growing demand for sulfuric acid from the oil and gas industry is another factor likely to accelerate the growth of the global market in the near future . With the rising emphasis on new product development and innovations is estimated to generate promising opportunities for the key players operating in the sulfuric acid market across the globe .
Fluctuating Raw Material Prices to Hamper Market Growth The global sulfuric acid market is expected to face several limitations , which are likely to restrict the market ’ s growth in the next few years . The volatility in the cost of raw materials and strict regulations imposed by governments regarding the use of sulfuric acid are some of the important factors anticipated to curb the growth of the market in the near future . Nevertheless , the recovery of sulfur is anticipated to offer promising opportunities throughout the forecast period .
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