India Sulphuric Acid MarketPosted by Sophia Jones on January 6th, 2021
India Sulphuric Acid Market witnessed notable growth in the last five years and is anticipated to achieve a healthy CAGR of around 6.5% during the forecast period. Sulphuric Acid is a colorless, highly corrosive diprotic acid finding various applications in the chemical industry due to its extraordinary oxidizing and dehydrating properties. Surge in the consumption of Sulphuric Acid in India is augmented by the overall growth of the Indian chemical industry wherein it is widely utilized for synthesizing myriad derivatives. Sulphuric Acid is primarily being used as a feedstock for the synthesis of nitrogenous and phosphatic fertilizers against the backdrop of its abundant demand from the fertilizer industry. Besides this, growing consumption for Sulphuric Acid in the water treatment process and metal processing is anticipated to contribute well to propel its demand in the forecast period. Request a free sample copy of India Sulphuric Acid Market Report Coronavirus outbreak in the country in the final quarter of FY20 has hindered the sturdy fundamentals of domestic Sulphuric Acid market. Subdued offtakes for downstream derivatives as a repercussion caused by the nationwide lockdown in March overshadowed its slacked production margins disrupted by the forced turnaround in various chemical refineries. Slowed operations in fertilizer industry followed by the temporary turnarounds in some of the major downstream companies negatively affected its growth rate in the final quarter. However, demand fundamentals for Sulphuric Acid is expected to showcase a V-shaped recovery with scheduled capacity additions in its downstream derivatives under the government initiative of self-reliant India. Sulphuric Acid can be produced by either of the smelter or sulphur route. Owing to the extensive demand for Sulphuric acid in the country, more than 90% of Sulphur produced in the domestic market is directed to manufacture Sulphuric Acid. On the back of the high yield and affordability, Double Conversion Double Absorption (DCDA) process technology is presently the widely used process for its production. Single Conversion and Single Absorption (SCSA) process is another popular production method for manufacturing Sulphuric. There are several organized and unorganized players operating in India Sulphuric Acid market, making it highly fragmented in nature. However, one-fourth share of the total production comes from the 6 leading market players. As of 2020, Hindustan Zinc Limited is the largest manufacturer of Sulphuric Acid operating in the domestic market. With favorable initiatives by Indian government for the expansion of the manufacturing facilities in India, there exists huge opportunity for manufacturers eyeing to widen their domestic revenues To extract data for India Sulphuric Acid market, primary research surveys were conducted with manufacturers, suppliers, distributors, wholesalers and end users of Sulphuric Acid. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for India Sulphuric Acid market over the coming years. Chem Analyst calculated demand for Sulphuric Acid in India by analyzing the historical data and demand forecast was carried out considering consumption from end user industries. Chem Analyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports and annual reports were also studied by Chem Analyst. The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Sulphuric Acid manufacturers, distributors and policy makers. The report also provides useful insights about which market segments should be targeted over the coming years to strategize investments and capitalize on growth opportunities. Key Target Audience: • Organizations, forums and alliances related to Sulphuric Acid distribution • Government bodies such as regulating authorities and policy makers • Market research and consulting firms Report Scope: Market, by Application – Fertilizer, Dyes & Dye Intermediates, LABSA, Steel, Fluorine derivatives, Titanium Dioxide, Explosives, Rayon Yarn, Water Treatment, Pulp & Paper & others Competitive Landscape Available Customizations: Browse our full report with Table of Content : About Market Reports on India: Contact us at: Like it? Share it! More by this author |