Sulfuric Acid Market
accounts for a considerable GDP in several countries . With increasing government support in these countries to increase agricultural output , the demand for sulfuric acid will increase indirectly .
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On the flip side , volatile prices of feedstock such as sulfur , crude oil , and natural gas are challenging the market ’ s growth . As sulfur is also obtained during the refining of crude oil and processing of natural gas , any changes in the prices of these commodities directly impact the price of sulfur . Furthermore , regulatory stipulations dissuade the usage of sulfuric acid and sulfur dioxide as they are harmful to human health , which is further negatively impacting the market ’ s growth .
However , development of alternate methods for obtaining sulfur is expected to be exceptionally beneficial for the market . This will eliminate dependency on crude oil and their volatile prices that impact prices of sulfur products . Leading companies such as ExxonMobil Corporation , Bahrain Petroleum Company B . S . C , and Bechtel Corporation are investing heavily in developing these newer methodologies to reduce undesired emissions while recovering sulfur .
Chemical Synthesis to Supersede Fertilizers in Future Fertilizers are the largest application segment of the global sulfuric acid market . In 2014 , the segment held a whopping 60 % share in the overall market . However , the chemical synthesis segment is expected to supersede in the near future . Sulfuric acid is used in more than 20 chemical processes , which will favor the growth of the sulfuric acid market . Sulfuric acid is used in the manufacture of nitric acid , hydrochloric acid , sulfate salts , and drugs amongst others .
Asia Pacific held 50 % of the market in 2014 due to which it stands as the clear leader in the market . The region is expected to remain the leading one due to a high concentration of chemicals industries in China .
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