India Sulphuric Acid Market to Grow at CAGR 3.35% till 2025
Growing
agriculture sector, increasing metal processing activities, coupled with rising
awareness about wastewater treatment to drive India sulphuric acid market
through 2025
According to the recently
published TechSci Research report “India Sulphuric Acid Market Study, 2011 - 2025”, the sulphuric acid market in India is
projected to exhibit a CAGR of 3.35%
during 2016-2025, on account of increasing fertilizer production in the country.
Moreover, growing demand and consumption of sulphuric acid can be attributed to
rapid growth in population size of India, which is subsequently driving demand
for infrastructure, food crops and base metals. Growing application of sulphuric
acid in processing of fertilizers and other industrial chemicals, coupled with
rising initiatives by Government of India to collaborate with global
manufacturing firms, are further expected to drive India sulphuric acid market during
the forecast period.
Sulphuric acid is tailored
for utilization as the most crucial raw material and key ingredient in agriculture
sector with applications in production of fertilizers and pH adjustment. Moreover,
it is also an essential part of nearly all manufactured goods, chemical
synthesis such as hydrochloric acid, nitric acid, sulphate salts, synthetic
detergents, dyes and pigments, explosives, and drugs. Sulphuric acid is utilized
in carrying out processing of metals by various methods including pickling of iron
& steel prior to plating process. West region was the major demand generator for sulphuric acid in
India over the past few years, owing to presence of major fertilizer and
chemical producing companies located in this region. Furthermore, leading
sulphuric acid manufacturers such as Hindalco Industries Ltd., and Paradeep
Phosphates Ltd., have an installed production capacities of 1,670 and 660
thousand tons, respectively.
“Fertilizer is the largest consumer
of sulphuric acid in India, owing to rising urbanization and growing population
in the country, which is further increasing focus on agriculture sector of
India to meet growing demand for food. Phosphate fertilizers production in
India stood at 4,113.1 thousand metric tons in 2014, which is further projected
to increase in the coming years. Thus, growing production of phosphate
fertilizer and increasing use of sulphuric acid in metal processing to boost
demand for sulphuric acid in Indiaduring the forecast period.” said Mr. Karan
Chechi, Research Director, with TechSci Research, a research based global management
consulting firm.
“India Sulphuric Acid Market Opportunities, 2011 - 2025” has
analyzed the potential of the sulphuric acid market in India and provides
statistics and information on market sizes, shares and trends. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment evaluation. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers and key challenges
faced by India Sulphuric Acid market.
About TechSci Research
TechSci Research
is a leading global market research firm publishing premium
market research reports. Serving 700 global clients with more than 600 premium market
research studies, TechSci Research is serving clients across 11 different
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employing innovative research solutions and tracking global and country
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market trends.
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