Market Overview:
Sulfuric acid is a highly corrosive and toxic intermediate chemical that is used in various manufacturing processes. It is mainly used in the production of phosphate fertilizers such as diammonium phosphate (DAP) and monoammonium phosphate (MAP). It is also used as an industrial reagent in processes such as mineral processing, production of chemicals including alkylation of benzene with ethylene to produce gasoline. Sulfuric acid offers advantages such as effective solubility, inexpensive production, and highly reactive nature.

Market key trends:
One of the key trends driving the growth of the sulfuric acid market is the increasing demand from the agriculture sector. Phosphate fertilizers produced using sulfuric acid are essential for improved crop yields and meeting the rising global food demand. According to the UN Food and Agriculture Organization (FAO), global food production must be increased by 70% from 2012 levels to feed the increasing population projected to reach around 9.7 billion by 2050. This rising demand for food is augmenting the consumption of phosphate fertilizers and their primary production chemical, sulfuric acid. Additionally, growing infrastructure development activities around the world are also boosting the market growth by driving demand from industries such as mining, mineral processing, and construction.

Key Takeaways
The global sulfuric acid market is expected to witness high growth, exhibiting CAGR of 4.67% over the forecast period, due to increasing demand from the chemical processing industry. The Asia Pacific region currently dominates the sulfuric acid market, with China being the largest producer as well as consumer. Growth in the region is driven by large fertilizer industry and economic development.

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