India Sulphuric Acid Market in Recovery Phase
Sulphuric
acid imports in India exhibited growth at a CAGR of 43.8% during 2013-2015
India: A drastic increase in the sulphuric acid imports in India
has been observed since 2013 on account of robust demand for sulphuric acid for
the manufacturing of phosphate fertilizers. Reduced demand for phosphate
fertilizer in India in 2013 was one of the major reason for oversupply in the
global market which resulted in weaker sulphuric acid prices. However, the
Indian sulphuric acid imports have increased from 0.65 million tons in 2013 to
1.34 million tons in 2015, exhibiting a growth of 43.8%. Further augmentation
of the fertilizer industries of India is anticipated to drive the demand for
sulphuric acid over the next few years.
TechSci Research depicts that rising import of sulphuric acid in India,
on account of increasing applications in fertilizer as well industrial sectors
of the country, can be attributed to the growing demand for sulphuric acid in
the country. Moreover, expansions in phosphate fertilizer manufacturing
capacities is expected to generate augmented demand for sulphuric acid over the
next few years.
According to the recent report published by TechSci Research “Global
Sulphuric Acid Market, By Manufacturing Process
(Lead Chamber and Contact Process), By Raw Material (Sulphur, Exhaust Gases,
Pyrite), By End-Use Industry (Fertilizers, Chemical etc.), By Region,
Competition Market Forecast & Opportunities, 2011-2025”, the global sulphuric acid
consumption was more than 230 million tons in 2015, which is growing at a
healthy pace. Asia-Pacific accounts for the largest share in the global
sulphuric acid market with South Korea and Japan being the largest sulphuric
acid exporters owing to the prevalence of base metal smelters in the region. In
2015, South Korea exported around 3 million tons of sulphuric acid, accounting
for 16.8% of the global total, while Japan exported around 2.7 million tons,
governing a share of 15.2% in the total global export.