The increase in demand for sulfonic acid from the automotive, agriculture, food processing, homecare, and medical sectors is likely to drive the growth of the sulfonic acid market. By application, the detergent and surfactant segment accounted for the highest share in 2021. Region-wise, the market in Europe is to lead all other regions in terms of revenue during the forecast period.
Portland, OR, March 23, 2023 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global sulfonic acid market generated $700.2 million in 2021 and is estimated to reach $1.7 billion by 2031, witnessing a CAGR of 9.2% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
Get Free Sample PDF Brochure @ https://www.alliedmarketresearch.com/request-sample/31838
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $700.2 Million |
| Market Size in 2031 | $1.7 Billion |
| CAGR | 9.2% |
| No. of Pages in Report | 260 |
| Segments covered | Application, End-Use Industry, and Region |
| Drivers | The increase in demand for sulfonic acid from the automotive, agriculture, food processing, homecare, and medical sectors |
| Opportunities | The antioxidant properties of sulfonic acid |
| Sulfonic acid’s critical role as a catalyst in the manufacturing of biodiesel and several chemical synthesis | |
| Restraints | The inability of various new players to enter the market is due to a high initial investment in setting up sulfonic acid firms. |
| The risk of exposure to sulphonic acid, which is a potentially harmful substance |
Covid-19 Scenario:
- The outbreak of COVID-19 had a negative impact on the sulfonic acid industry due to the shutdown of chemical sectors. For instance, chemical manufacturing plants were shut down as a result of complete lockdowns imposed in a number of other countries.
- To maintain the supply and demand of chemicals, the government took a number of actions. Additionally, the US government offered equipment for sulfonic acid extraction at a discount to manufacturers. Government funding was provided to regional producers of sulfonic acid and the intermediates involved in its manufacturing.
- The government made the decision to support domestic businesses financially. The federal government added several stimulus plans to aid the chemical industry.
- The disruption in the supply chain, import-export restrictions, and closed borders, also caused pressure on the chemical manufacturing industry. Additionally, the economic slowdown impacted the production of sulfonic acid.
- Despite these challenges, as the global situation began to recover, there has been a growing demand for the production of sulfonic acid in various industries.
The report offers a detailed segmentation of the global sulfonic acid market based on application, detergent and surfactant, end-use industry, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Procure Complete Report (260 Pages PDF with Insights, Charts, Tables, and Figures) @ https://bit.ly/3FLnPWX
By application, the detergent and surfactant segment held the largest share in 2021, accounting for more than two-fifths of the global sulfonic acid market and would dominate the market in terms of revenue during the forecast period. The same segment would also cite the fastest CAGR of 9.4% throughout the forecast period. The acid catalysts, paper making, and pharmaceutical segments are also studied in the report.
By end-use industry, chemical manufacturing segment accounted for the highest share in 2021, holding more than one-third of the global sulfonic acid market revenue, and is projected to maintain its dominance by 2031. The same segment, however, is estimated to grow at the highest CAGR of 9.4% throughout the forecast period. The construction, cosmetic and personal care, paints and coatings, and others segments are also discussed in the report.
By region, Europe held the major share in 2021, garnering more than two-fifths of the global sulfonic acid market revenue, and is expected to maintain its lead in terms of revenue during the forecast period. The Asia-Pacific region, on the other hand, would display the fastest CAGR of 9.6% throughout the forecast period. The other provinces studied through the report include North America, and LAMEA.
The leading market players analyzed in the global sulfonic acid market report include Cepsa, New India Detergents, Nandadeep Chemicals Private Limited, Vizagchemicals, BASF SE, Vinati Organics Ltd, national company for Sulphur products, Kuantum Corp. Co., Ltd., Stepan Company, and Arkema SA. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
Want to Access the Statistical Data and Graphs, Key Players’ Strategies: https://www.alliedmarketresearch.com/global-sulfonic-acid-market/purchase-options
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. NewIndiaObserver.com takes no editorial responsibility for the same.