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The global sulphuric acid market is being aided by the thriving agricultural industry. In terms of region, Asia leads the global market with over 45% market share. Other major regions in the market are North America and Europe. The significant producing regions include China, India, and the United States.
The application of the product is likely to grow more in future. The demand for the sulphuric acid in Asia, especially in China, is expected to grow in future. Due to the increased demand for fertilisers, regions like China, India, and the United States are compelled to import significant volumes of sulphuric acid from other regions. India and China are major agrarian nations, accounting for 15% and 37% of the total contribution to the global agricultural market, respectively. Both these countries extensively use the acid for manufacturing fertilisers. The demand for electronic grade sulphuric acid is growing at a rapid rate and is likely to witness a faster growth in the coming years.
In November 2020, DuPont de Nemours, Inc. (NYSE: DD) announced the selection of its MECS® sulphuric acid technology by NioCorp Developments Ltd for its Superalloy Materials Project in Southeast Nebraska. The MECS sulphuric acid plant would be designed to improve energy recovery and emission control in order to ensure the best possible environmental efficiency.
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The key players in the global sulphuric acid market include INEOS Group, BASF SE (OTCMKTS: BASFY), DuPont de Nemours, Inc. (NYSE: DD), PVS Chemicals, Inc., and Chung Hwa Chemical Industrial Works, Ltd., among others. The comprehensive report covers their market share, capacity, and latest developments like mergers and acquisitions, and capacity expansions.
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