Sulphuric Acid Market - Forecast(2021 - 2026)
Sulphuric acid market size is forecast to reach $24.0 billion by 2026 , after growing at a CAGR of 4.4% during the forecast period 2021-2026. Sulphuric acid is a mineral acid with a strong acidic nature that is composed of hydrogen, sulphur, and oxygen and has dehydrating and hygroscopic properties. Sulphuric acid is specifically utilized in the manufacturing of phosphate fertilizers . And the global sulphuric acid market is driven primarily by the rising demand for phosphate fertilizers. For the projected era, the sulphuric acid market is expected to be led by increased demand for sulphuric acid in metal processing and chemical applications. The stringent government regulations in terms of usage, and the high fluctuation of raw material prices, are the major factors constraining the growth of sulphuric acid in the current period, and also will be a negative impact on few regions in upcoming years. COVID-19 Impact Global economies are currently recovering fro...