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Global Sulfuric Acid Market 2018-2022 | Increase in the Production of Phosphate Fertilizers to Boost Demand | Technavio

September 19, 2018

LONDON--(BUSINESS WIRE)--Sep 19, 2018-- analysts forecast the global sulfuric acid market to grow at a CAGR of nearly 3% during the forecast period, according to their latest market research report.

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Technavio has published a new market research report on the global sulfuric acid market for the period 2018-2022. (Graphic: Business Wire)

Capacity expansion and new plant additions are some of the major trends being witnessed in the . The market has been witnessing expansion in production facilities over the past 5-10 years. Furthermore, increased demand for sulfuric acid from the fertilizer industry is expected to drive capacity additions in China, South America, and the Middle East. The rise in demand for sulfuric acid from various end-user industries also compels the producers to expand their production capacities. The supply and consumption of sulfuric acid are expected to continue to increase during the next decade across the globe.

This report is available at a USD 1,000 discount for a limited time only:

According to Technavio analysts, one of the key factors contributing to the growth of the global sulfuric acid market is the increase in the production of phosphate fertilizers:

Global sulfuric acid market: Increase in the production of phosphate fertilizers

In 2017, phosphate fertilizer was the key application segment accounting for nearly 57% of the market share in the global sulfuric acid market. Furthermore, phosphate fertilizer manufacturers are installing new plants. For example, in 2016, OCP based in Morocco has invested heavily and started the installation of their new plant for producing phosphate fertilizers.

According to a senior analyst at Technavio for research on specialty chemicals, “With the changing lifestyles, consumers have become more conscious about their health, leading to an increase in demand for nutrition-rich food crops. Thus, farmers use phosphate fertilizers to cultivate nutrition-rich plants to obtain high yields as phosphorus is the key nutrient in the development of seeds, roots, and fruits. Rapid industrialization and urbanization are causing a decrease in the availability of arable land, which, in turn, has led the farmers to use fertilizers for increasing crop yield. Rising use of sulfuric acid to produce quality fertilizers for agricultural use to boost production capacity is expected to fuel the market growth.”

Global sulfuric acid market: Segmentation analysis

The global sulfuric acid market research report provides market segmentation by application (phosphate fertilizer, chemical production, and metal processing) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

The phosphate fertilizer segment held the largest market share in 2017, accounting for nearly 58% of the market. This application segment is expected to dominate the global market throughout the forecast period.

APAC led the market in 2017 with a market share of nearly 49%. This region is expected to dominate the market through 2022.

Looking for more information on this market?

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

Market ecosystem Market characteristics Market segmentation analysis

Market Sizing

Market definition Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered Vendor classification Market positioning of vendors Competitive scenario

About Technavio

is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20180919005688/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS NATURAL RESOURCES AGRICULTURE

SOURCE: Technavio Research

Copyright Business Wire 2018.

PUB: 09/19/2018 01:49 PM/DISC: 09/19/2018 01:48 PM

http://www.businesswire.com/news/home/20180919005688/en

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