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Sulfuric Acid Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Sulfuric Acid Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, October 2, 2024 /EINPresswire / -- The sulfuric acid market has experienced robust growth in recent years, expanding from $14.74 billion in 2023 to $16.12 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to industrial revolution, fertilizer manufacturing, industrialization, infrastructure development, increased battery production.
What Is The Estimated Market Size Of The Global Sulfuric Acid Market And Its Annual Growth Rate?
The sulfuric acid market is projected to continue its strong growth, reaching $22.73 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to supply chain optimization, emerging market growth, energy sector shifts, global economic conditions, fertilizer production.
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Growth Driver Of The Sulfuric Acid Market
The rapid acceptance of electric vehicles is expected to propel the growth of the sulfuric acid market going forward. An electric vehicle refers to a form of transportation that runs on electricity. Electric cars and trucks use an electric motor powered by electricity from batteries or a fuel cell, as opposed to traditional vehicles that use a gasoline (petrol) or diesel-powered engine. Sulfuric acid is used in producing lead acid batteries, primarily for automobiles and electric vehicles, that leads to an increasing demand for sulfuric acid.
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Which Market Players Are Steering The Sulfuric Acid Market Growth ?
Key players in the market include Aurubis AG, BASF SE, Boliden AB, Canada Colors and Chemicals Limited, Cornerstone Chemical Company, Hubei Xingfa Chemicals Group Co. Ltd., Kanto Corporation., KMG Chemicals Inc., Linde PLC, Ma'aden - Saudi Arabian Mining Company, Nouryon B.V., PVS Chemicals Inc., Seastar Chemicals Inc., Tata Chemicals Limited, Trident Group, UBE Corporation, Akzo Nobel N.V., Chemstar Products Company, Chemtrade Logistics Income Fund, A Freeport-McMoRan Company, Covestro AG, EuroChem Group AG, Global Energy Commodity Resources, Grillo-Werke AG, Ineos Group Limited, J.M. Huber Corporation, McCain Foods Limited, Mosaic Company, Peabody Energy Corp., Potash Corporation, Praxair Inc., Solvay SA, Southern Copper Corporation.
What Are The Key Trends That Influence Sulfuric Acid Market Size ?
Major companies operating in the sulfuric acid market are adopting a strategic partnership approach to substitute the utilization of imported sulfuric acid in their downstream chemical operations. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success.
How Is The Global Sulfuric Acid Market Segmented?
1) By Raw Material Type: Elemental Sulfur, Pyrite Ore, Base Metal Smelters, Other Raw Material Types
2) By Form Type: Concentrated, Tower or Glover acid, Chamber or Fertilizer Acid, Battery Acid, 66 Degree Baume Sulfuric Acid, Dilute Sulfuric Acid
3) By Purity Type: Standard, Ultra-Pure
4) By End-User Industry: Fertilizer, Metal Processing, Pulp and Paper, Petroleum Refining, Textile Industry, Automotive, Chemical Manufacturing, Other End-User Industries
Geographical Insights: Asia-Pacific Leading The Sulfuric Acid Market
Asia-Pacific was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Sulfuric Acid Market Definition
Fatty acids are carboxylic acids that act as energy for muscles, the heart, and other organs as building blocks for fats in the human body and also as an agent that manages inflammation in the body. Fatty acids comprise a straight chain of an even number of carbon atoms with hydrogen atoms along the length of the chain and at one end of the chain and a carboxyl group (COOH) at the other end.
Sulfuric Acid Global Market Report 2024 from TBRC covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global sulfuric acid market report covering trends, opportunities, strategies, and more
The Sulfuric Acid Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on sulfuric acid market size, sulfuric acid market drivers and trends and sulfuric acid market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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The Business Research Company
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