Diversified Applications of Sulfuric Acid to Increase Steady Demand for Market

21 April 2020: Sulfuric acid, also termed as oil of vitriol, is a highly strong corrosive mineral acid having molecular formula H2SO4. Sulfuric acid is colorless to slightly yellow viscous liquid, pungent-ethereal, and soluble in water at all concentrations. This acid shows different characteristics with different material depending on the concentration.

In addition, sulfuric acid has the major output of any chemical across the globe. It is mainly used in the manufacturing of chemicals to make pigments, dyes, sulfate salts, nitric acid, etc. It also helps as the electrolyte in the lead acid storage battery. Sulfuric acid is extensively used in the production of phosphate fertilizers. Sulfuric acid has reactive and corrosive properties. It is mainly manufactured directly from primary sulfur, which mainly yields high purity sulfuric acid with almost no impurities, in different strengths and grades such as 98%, 96%, and 93%.

Fertilizers Sector Holds Largest Share in Sulfuric Acid market

On the basis of application, the sulfuric acid market can be classified into metal processing, chemical manufacturing, fertilizers, textile industry, petroleum refining, paper and pulp, automotive, and others. The fertilizers sector holds the largest market share and is anticipated to grow at the second highest CAGR in the forthcoming period. Growing population across the globe and rising demand for better-quality of crop are anticipated to drive the market in the years to come.

Furthermore, sulfuric acid is mostly used in the manufacturing of phosphate fertilizers that are widely used in modern day agricultural practices. Growing chemical industries and stable improvements in agricultural spending in economies such as China and India are anticipated to propel the market in the years to come.

Rapid urbanization and industrialization are resulting in a decrease of farmland, which in turn is leading the farmers to use fertilizers for growing crop yield. Increasing use of H2SO4 for the manufacturing of quality fertilizers for farming use will drive the production capacity, which is anticipated to propel the growth of the market.

Chemical and Petroleum refineries mainly comprise of production of contaminated sulfuric acid, resulting in the regeneration of concentrated and pure H2SO4 products. The regenerated acids release low emissions leading to decreased manufacturing costs, which makes it environment friendly and sustainable.

Rising investments in the developmental activities associated with the chemical synthesis in the chemical manufacturing segment in China are anticipated to drive the growth of the market in the forecast period while increasing production of industrial agents is anticipated to spur the demand. 

Market Insights:

The market is highly competitive and concentrated in nature. The key players are mainly involved in the manufacturing of sulfur and their byproducts for the use in numerous applications such as chemical manufacturing, petroleum refinery, fertilizers, and other associated sectors. Many companies are mostly participating in joint ventures, mergers, and acquisitions, to improve their product portfolio and attain a significant presence in the market.

In 2014, BASF declared an association with Zhejiang Jiahua Energy Chemical Industry Co. Ltd., a division of Huafang Textile Co., Ltd. to build a hub in China. For the growing semiconductor industry in the region, this will offer H2SO4 products in abundance. In June 2016, Veolia acquired the sulfur products branch of Chemour to support the company’s facilities in the oil and gas industry. This division focuses on the recovery of sulfuric gases and acid from the refining procedure, which is regenerated into steam and clean acid used in an extensive range of industrial activities.

Numerous key players are following expansion, and investment strategies to support their manufacturing capacities and enter into the developing markets. An increase in the number of H2SO4 suppliers and manufacturers is likely to drive market development throughout the forthcoming period. Leading players operating in the sulfuric acid market include Chemtrade Refinery, Mosaic Company DuPont, BASF, AkzoNobel N.V., Valero Energy, Solvay, and PVS Chemical Solution.

Growing Automobile Sector to Boost Metal Finishing Chemicals Industry

12th March 2020: Metal finishing chemicals are used to clean, etch, and plate metallic surfaces that improve their physical characteristics and appearance. Metal finishing chemicals help to control numerous surface characteristics such as, tarnish resistance, corrosion resistance, wear and electrical resistance, hardness, reflectivity and appearance, electrical conductivity, and chemical resistance, etc.

Growing automotive industry to Contribute Significant Demand to the Market

The major application variants of the metal finishing chemicals market include aerospace, automotive, construction, electrical and electronics, etc. The automotive sector accounted for the fastest growth in the market and is also anticipated to expand at the fastest CAGR in the forthcoming period. 

The automotive sector is driven by rising production and demand for passenger and commercial vehicles in developing countries, such as Indonesia, China, Thailand, and India. Growing automotive industry is the result of rising disposable income as well as increasing government initiatives and rules encouraging the growth of metal finishing chemicals.

Furthermore, the presence of foremost automotive Original Equipment Manufacturers (OEMs) including CHRYSLER, GM, BMW, Volvo, Mercedes, Audi, Ford Trucks & SUV’s, Ford cars, Jaguar, Nissan, Porsche, Toyota, Land Rover, Volkswagen, Mazda, and Honda is anticipated to further drive the metal finishing chemical market demand in the forecast period.  

The global aerospace and defense industry are anticipated to witness stable growth throughout the forecast period on account of increasing government spending on aircraft production and defense segments. This development has enhanced the equipment replacement cycle and has increased the passenger travel demand which is propelling the use of the product in aerospace repair, maintenance, and renovation activities.

High demand from various applications, such as consumer durables, jewelry, job shops, medical equipment, and machine tools is anticipated to observe a stable growth in the forthcoming period. Emerging healthcare industry in countries such as the U.S., Germany, and India are likely to propel the demand from the medical equipment industry. Furthermore, increasing demand for ornamental jewelry from countries such as the U.S. is anticipated to drive the demand for the market over the forthcoming period. 

Market Insights: 

Leading players operating in the metal finishing chemicals market include Advanced Chemical Company; Atotech Deutschland GmbH; Chemetall, Mc-Gean Rocho US; Elementis; Dow Chemicals; Quaker Chemicals; NOF Corporation; Houghton International Inc.; Rashig GmbH; HENKEL Ag; Technic.; and A Brite Company. 

North America and Europe are projected to be the largest markets for these chemicals due to growing demand from automotive, aerospace, electrical and electronics, and manufacturing industries. Hence, majority of manufacturers are concentrating on these regions while keeping the distribution networks across other regions.

Significant presence of several regional industry players specifically in Canada, U.S., Germany, Japan, China, and the U.K is also likely to drive the overall competitive environment in the years to come.

Natural Wax: A Potential Alternative to Mineral and Synthetic Wax

Growing requirement of food packaging owing to increasing consumption of packed food is anticipated to propel demand for wax. Wax offers useful characteristics such as heat resistance and water repellence. Effective use of these properties of wax in the manufacturing of food packaging can fuel its demand. Synthetic wax, mineral wax, and natural wax are the prominent types of wax, among which natural wax is emerging as an effective substitute for the other two. Prominent applications areas for wax include application candle making, packaging, cosmetics & toiletries, adhesives & coatings, fire logs, plastic & rubber, and many more.

Rising Demand for Different Types of Candles to Fuel Product Demand

In 2016, the candle segment was valued at USD 3.36 billion. It is expected to witness a significant growth in the coming years owing to a wide range of products such as birthday candles, utility candles, and floating candles. Increasing number of distribution channels can also fuel the product demand in this segment in the next few years.

Most companies are offering advanced form of wax candles to cater to the changing demand of consumers. For instance, Kendra Scott recently introduced its new range of candles induced with different scents. The rose quartz candle is offers fragrance of rose petals and wild peony. The malachite candle is expected to offer fragrance of warm amber and exotic frankincense. While, Amethyst candle can offer lilac blossoms and blackberry.

Market Insights

According to a recent report by Grand View Research Inc, the global wax market is anticipated to reach at USD 12.9 billion by 2025. High demand for wax candles in rural areas, owing to the lack or absence of electricity, is expected to spur market growth in the coming years. Growing acceptance of wax as an insulator in electronic and electrical instruments can further stimulate growth of the market.

Increasing use of wax to manufacture cosmetic products owing to effective skincare properties is also anticipated to propel growth of the market. Increasing adoption of wax in food packaging due to its excellent characteristics can also fuel market growth during the forecast period (from 2017 to 2025). Some of the leading companies offering high-quality wax are The International Group, Inc., Evonik Industries AG; Mitsui Chemicals; BASF SE; and Baker Hughes Incorporated.

In-Depth research report on wax market, click the link below:

https://www.grandviewresearch.com/industry-analysis/wax-market

Bio-based Purified Terephthalic Acid: The Key to Future of Plastics

Purified terephthalic acid (PTA) is an organic compound derived from the oxidation of paraxylene. It serves as the precursor for producing various plastics such as polyethylene terephthalate (PET), polybutyl terephthalate (PBT), and polytrimethylene terephthalate (PTT). Its properties such as glass transition temperature range, chemical resistance, and flexibility have led to its applications in polyester fibers, PET resins, and films. Major end users include bottling and packaging, home furnishing, textiles, and others.

Use of Bio-based Materials

Companies have resorted to using bio-based PTA to mitigate the environmental effects caused in the production cycle. Coca-Cola Company was one of the first proponents of bio-based polymers to create the first PET bottle from plant materials. It is expected to continue its production by relying on its proprietary PlantBottle technology. The company has created an alliance with Danone, Heinz, The Ford Motor Company, Nike, Inc., Unilever, and Procter & Gamble to promote the use of sustainable technologies in the future.

Food packaging industries are also complying with environmental policies by using bio-based purified terephthalic for its packages. Jordan’s, the U.K.’s organic cereal producer, recently was awarded for creating a sustainable package by using natural resources. The adoption of bio-based resources can reduce the dependence on crude oil.

Market Overview

The global purified terephthalic acid market is anticipated to reach a market valuation of nearly 111 billion by 2025, according to a report published by Grand View Research, Inc. It is driven by the demand for polyester films from various sectors such as food & beverages, packaging, and pharmaceutical sectors. Supportive initiatives by various governments such as Saudi Arabia, India, and Mexico to encourage the growth of textile and coating industries is expected to impact market growth.

Noteworthy market players include British Petroleum, Eastman Chemical Company, Reliance Industries Limited, and Formosa Plastics Group. Building additional plants is being seen as a strategy to increase their reach globally. For instance, Indorama Ventures is expanding its capacity by constructing a PTA center in Rotterdam.

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