Sulfuric Acid Market Size, Share, Demand and Trends by 2022-2032
According to research conducted by Future Market Insights on global sulfuric acid market , demand for sulfuric acid is set to grow at a moderate CAGR of 3.4% between 2022 and 2032, reaching a valuation of US$ 25,623.0 Mn by the end of the forecast period (2032). The market has been significantly influenced by certain macro-economic and industrial factors including chemical industries development, rapid economic boom, expansion of manufacturing sector, and growth of agricultural industry. Sulfuric acid, also known as oil of vitriol, is a strong mineral acid that finds application in diverse industries including metal extraction, agriculture, pharmaceuticals, and textiles. It has become a key constituent utilized for the manufacturing of phosphate-based fertilizers. Thus, need for increasing the crop production all over the globe will indirectly push the demand for sulfuric acid during the forecast period. Similarly, development in the chemical industry and growing demand for cata