The global sulfuric acid market is expected to reach USD 13.88 Billion by 2027, according to a new report by Reports and Data. Growing demand for fertilizers for high crop yield is one of the significant factors influencing the market growth. Fertilizers allow farmers to increase their crop yield by boosting the productivity of the agricultural land, as well as can make an otherwise less productive land produce substantial yields. Fertilizers are formulated to support the yield of certain plants by allowing the plants to absorb the essential macro and micronutrient easily. The worldwide demand for fertilizers has witnessed a decent pace of growth, with the demand being more than 138 million tons in the year 2000 and rose to around 210 million tons in the year 2019.
Sulfuric acid finds extensive application in automotive industries in the production of automobile batteries. This battery provides the requisite electricity needed to put electrical components to function, as well as converts chemical energy into the electrical energy that powers automobiles and gives energy to its starter. Also, it stabilizes the energy supply that keeps the engine running. According to the statistics released by the World Economic Forum, the number of passenger cars on the roads across is expected to increase two-fold by the year 2040, resulting in an increased demand for car batteries, and in turn, the demand for sulfuric acid
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Further key findings from the report suggest
Raw Materials Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)
Distribution Channel Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)
Application Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)
Significant Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of the Sulfuric Acid Market
– Changes in industry market dynamics
– Detailed market segmentation by type, application, etc.
– Historical, current and projected market size in terms of quantity and value
– Recent industry trends and developments
– Competition situation of Sulfuric Acid Market
– Key companies and product strategies
– Potential niche segment/region showing promising growth.
Finally, the Sulfuric Acid Market Report is the authoritative source for market research that can dramatically accelerate your business. The report shows economic conditions such as major locales, item values, profits, limits, generation, supply, requirements, market development rates, and numbers.
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