The global inorganic acids market size is expected to witness potential gains in the future and register a significant CAGR over the forecast period (2019 - 2027).
Inorganic acid, also known as mineral acid, is derived from an inorganic compound that dissociates to produce hydrogen ions (H+) and a conjugate base in water. These acids comprise hydrogen and non-metallic elements or their groups. Inorganic acids are hazardous to health and consuming inorganic acids can be fatal. Hydrofluoric acid (HF), sulfuric acid (H2SO4), nitric acid (HNO3), and hydrochloric acid (HCl) are some of the prominent examples of inorganic acids.
Inorganic acids find application in various end-use industries such as metal refining, fertilizers, food and beverages, personal care (soaps and detergents, toothpaste), chemicals, and medical. For instance, HCL is used in pickling of steel, production of organic compounds such as vinyl chloride and dichloroethane for PVC and inorganic compounds such as iron (III) chloride and polyaluminium chloride (PAC). HNO3 is used as an oxidant to produce precursor to nylon, adipic acid and as a rocket propellant. Therefore, significant growth of end-use industries is expected to lead to high demand for inorganic acids, thereby propelling growth of the global inorganic acids market over the forecast period.
However, the toxic nature of inorganic acids may lead to harmful effects on the ecological system. Moreover, several organizations and governments are focusing on limiting the use of such acids. These factors are expected to hinder the market growth over the forecast period.
On the basis of region, the market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Increasing demand for fertilizers from the economies of China and India that majorly depend on agriculture is expected to boost growth of the market in Asia Pacific. Nitric acid is a major component of fertilizers and is neutralized with ammonia to give ammonium nitrate. The market share of North America is primarily driven by increasing consumption of home and personal care products such as acidic drain cleaners, soaps and detergents, and toothpaste. Increasing production of rockets for space missions is expected to high demand for nitric acid, thereby aiding in the market growth of North America. The market in Middle East is driven by increasing use of sulfuric acid as industrial cleaning agent and hydrofluoric acid in oil refining.
Key players operating in the inorganic acids market include, General Chemical USA, PVS Chemicals, Inc., Basic Chemical Solutions LLC, and Azko Nobel N.V.
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.[email protected]
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.