Sulfuric Acid Market
REPORT DESCRIPTION
Sulfuric Acid Market - Global Industry Analysis , Size , Share , Growth , Trends and Forecast 2015 – 2023
The global sulfuric acid market appears to be fragmented with top three players accounting for a mere 10.5 % share of the overall market in 2014 . These are The Mosaic Company , Vale Fertilizers , and PotashCrop . The market displays a low degree of competition due to capital-intensive nature of the market and rising concerns about the detrimental effects of sulfuric acid on the environment , says a new report by Transparency Market Research ( TMR ).
“ Mergers and acquisitions and strategic alliances are the key growth strategies that top players in this market are focused on for higher revenues ,” says the lead author of the study . The introduction of high-performance products and building valued customer relationships are also the focus of top players in this market . For example , The Mosaic Company is focused on maximizing output by minimizing its carbon footprint . The opportunity in the global market for sulfuric acid is expected to be worth US $ 85.4 bn by 2023 increasing from US $ 67.9 bn in 2014 at a CAGR of 2.6 % between 2015 and 2023 .
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Agrarian Economies of Asia Pacific Exhibit High Demand for Sulfuric Acid for Use in Fertilizers The incessant growth of the chemicals market in China is one of the primary growth drivers of the sulfuric acid market . With continual investments from other countries in this market , China is expected to steer the growth of the global sulfuric acid market in the coming years . Currently , China is producing 45,000 chemicals and is in a position to lead the chemicals market and its ancillary markets in the coming years .
The demand for sulfuric acid is expected to be on the rise , especially in developing countries as they are majorly agrarian economies that require a large volume of phosphate fertilizers . In 2014 , phosphate fertilizers accounted for almost 50 % consumption of sulfuric acid globally . In particular , in Asia Pacific , the demand for phosphate fertilizers is expected to rise in the future as agriculture
Transparency Market Research
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