Disulfurous Acid Market Trends
Growth Drivers
- Growing Used of Reducing Agents – Disulfurous acids are unstable and exist primarily in solution as sulfurous acid, which is involved in the bleaching process as a reducing agent.
- Advancements in the Production Process of Sulfuric Acid – One of the newest production technology, membrane technology enables sulfuric acid manufacturing cheaper and less harmful to the environment. Moreover, disulfurous acid is formed by reacting sulfuric acid with water and then with oxygen.
- Increasing Chemical Industry – Disulfurous acid is used as an intermediate in many chemical reactions. It can engage in redox processes or function as a titrant in a variety of chemical procedures.
Challenges
- Hazardous Nature of the Acid – It is a strong acid and can cause severe burns and corrosion when touched by bare skin. Furthermore, it can destroy tissues, and damage eyes, skin, and mucous membranes. It can also irritate the respiratory system causing difficulty in breathing, coughing, and throat irritation
- Disulfurous acid is unstable and never present in a free state
- Many people are allergic to food containing disulfurous acid
Disulfurous Acid Market: Key Insights
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favourable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labour as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
8.5% |
|
Base Year Market Size (2024) |
USD 3.53 billion |
|
Forecast Year Market Size (2037) |
USD 10.19 billion |
|
Regional Scope |
|
