Sulfuric Acid Market Topmost Companies Profile With Sales And Net Revenue Analysis- Exclusive Report by MarketsandMarkets™

The report "Sulfuric Acid Market by Raw Material (Elemental Sulfur, Base Metal Smelters, Pyrite Ore), Application (Fertilizers, Chemical Manufacturing, Metal Processing, Petroleum Refining, Textile Industry, Automotive, Pulp & Paper) - Global Forecast to 2021",global sulfuric acid market is projected to reach USD 11.10 billion by 2021, at a CAGR of 2.87% during the forecast period. It is projected to reach 278.33 million tons by 2021, at a CAGR of 2.20% during the forecast period. This growth can be attributed to the increase in the production of nutrient rich food crops, which extensively use fertilizers, the largest application of sulfuric acid, and steady demand for sulfuric acid due to its diversified applications.

The Asia-Pacific region led the sulfuric acid market, in terms of value and volume, in 2015. The large market size of the Asia-Pacific region can be attributed to the shifting of manufacturing facilities of big market players from mature market of Europe and North America to Asia-Pacific and the Middle East & Africa regions. Major players prefer investing in these regions, as they offer a wide range of market penetration opportunities due to the presence of natural resource reserves such as mineral deposits and crude oil, and easy availability of workforce and consumers.

Industry 4.0 is changing the dynamics of the sulfuric acid industry. Automation, smart manufacturing and real-time data exchange helps companies to use big data to forecast demand, supply and prices. From safety and cost saving point of view, few companies to start using drones to inspect chemical plants and storage tanks for cracks or leakage problems. The use of technology is expected to increase margins, efficiency and productivity of the Sulfuric acid manufacturers.
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