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Inorganic Acid market size is forecasted to grow at a CAGR of 4.7% during the forecast period 2021-2026.

HYDERABAD, TELANGANA, INDIA, November 1, 2022 /EINPresswire.com/ -- Inorganic Acid market size is forecasted to grow at a CAGR of 4.7% during the forecast period 2021-2026. This can be attributed to its use in fertilizers. An inorganic acid is an acid derived from one or more inorganic compounds. It is also known as mineral acid. Inorganic acids form hydrogen ions and conjugate base ions when dissolved in water. Commonly used inorganic acids are sulphuric acid, hydrochloric acid, nitric acid, and phosphoric acid. Inorganic acids are very soluble in water and insoluble in organic solvents. Inorganic acids are used in many sectors of the chemical industry as feedstocks for the synthesis of other chemicals, both organic and inorganic. Large quantities of these acids particularly sulphuric acid, nitric acid, and hydrochloric acid are manufactured for commercial use in large plants. Increasing demand for agrochemicals & fertilizers in developing countries is expected to drive the inorganic acid industry substantially during the forecast period.

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Key takeaways:

This IndustryARC report on the Inorganic Acid market highlights the following areas -

1. Asia-Pacific dominates the inorganic acid market, owing to the agricultural industry in the region. According to Invest India, India’s agriculture technology can grow to $24.1 billion by 2025.

2. Hydrochloric acid, Sulphuric acid, and Nitric acid are the strongest inorganic acids capable of dissolving metals. They are highly corrosive.

3. Sulphuric acid and Nitric acid are mainly used in the production of fertilizers to improve soil fertility as they add essential nutrients to replenish the soil.

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Segmental Analysis:

1. The sulphuric acid segment held the largest share in the inorganic acid market and is expected to rise at a CAGR of 3.6% during the forecast period. About 75% of the manufactured sulphuric acid is used to synthesize fertilizers, superphosphate in particular. Sulphuric acid is highly reactive and can dissolve most metals.

2. The monobasic acid segment held the largest share in the inorganic acid market in 2020. Hydrochloric acid, nitric acid, and hydrofluoric acids are monobasic, meaning they can donate only one proton (hydrogen ion) to a base in an acid-base reaction. Hence, a monobasic acid has only one hydrogen atom to donate.

3. Fertilizers are deemed essential to enable sustainable crop production. Sulphuric acid, nitric acid, and phosphoric acid are used to produce fertilizers. Around half of the produced sulphuric acid in the world is used in agriculture, particularly in the fertilizer industry. Sulphuric acid is specifically used to manufacture phosphate fertilizers, particularly superphosphate of lime and ammonium sulphate.

Competitive landscape:

The top 5 players in the Inorganic Acid industry are:

1. BASF SE
2. DuPont de Nemours Inc
3. Evonik Industries
4. Formosa Plastics
5. INEOS Enterprises

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