Sulphuric Acid Market - Forecast(2020 - 2025)
Sulphuric Acid Market Overview: According to the 2017 annual report published by the International Fertilizer Association (IFA), the fertilizer industry is poised to observe an impressive investment of close to $110 billion with more than 65 new production units between 2017 and 2021 [1] . Sulphuric acid is widely used to make fertilizers, and so, the expansion of the fertilizer industry will lead to an amplified demand influx in the sulphuric acid market that was valued to be around $8.54 billion in 2018. Furthermore, the demand for sulphuric acid is estimated to grow with a modest compound annual growth rate (CAGR) of 2.5% during the forecast period of 2019 to 2025. Due to the superfluous population density in APAC, the agricultural sector is making strides in the region to fulfill the catapulting demand for food. Subsequently, sulphuric acid which finds application in the agricultural sector is observing an augmented demand. Additionally, there is a gamut of chemical industri...