Sulfonic Acid Market Size is Projected to Generate a Revenue of $1,664.7 Mn by 2031Download Sample Reports Overview
The Global Sulfonic Acid Market Size is predicted to be valued at $1,664.7 million by 2031, surging from $700.1 million in 2021, at a noteworthy CAGR of 9.2%
Impact Analysis of COVID-19 on the Sulfonic Acid Market
The COVID-19 pandemic has led to severe disruptions that have affected the demand, supply, import-export, and availability of alpha olefins across end-use industries. Alpha olefins are widely used across chemicals, construction, paper making, and other sectors. As a result of government laws and regulations enforced owing to the proliferation of coronavirus throughout the world, the sulfonic acid market growth was significantly impacted. The lockdown in many locations led to a halt in the market’s growth owing to the suspension of industries and transportation, reducing the sulfonic acid market size. The post-pandemic environment of the sulfonic acid market extended the market growth with increased demand for sulfonic acid-based cleaning products in the healthcare and consumer goods sector during the projection period. As a result of this spread, there will be a significant increase in the global sulfonic acid market after COVID-19.
Global Sulfonic Acid Market Analysis
Sulfonic acid is a sulfur compound found in most household detergents, detergent powder, dishwashing detergents, cleaning powder, washing powders, detergent cakes, liquid soap, soaps, and other products. A sulfonic acid chemical is employed as a cleaning agent in various formulations and a foaming agent in soaps. The industry uses sulfonic acid to increase the interaction between polar and non-polar phases, such as water and minerals or oil and water. Sulfonic acid is primarily used in the production of household detergents such as laundry powder, dishwashing liquid, and other household cleansers, as well as other industrial applications. Sulfonic acid is an oil additive that acts as a lubricant and prevents corrosion and rust. This product is a highly effective intermediate surfactant. These are the major factors anticipated to boost the Sulfonic acid market share during the analysis timeframe.
The overall expansion in the sulfonic acid market has been increasing rapidly, but certain constraints are impeding the industry's growth, including huge sums of money to be invested initially in building up sulfonic acid manufacturing plant which limit the ability of various new players to enter the markets. Another significant constraint that has recently been seen is the shifting prices of raw materials, which creates a problem of manufacturers because rising prices would prohibit sulfonic acid manufacturers from producing on a large scale, negatively affecting the demand-supply relationship.
The technical advancement such as acid-catalyzed processes, biodiesel synthesis, and sulfonated carbon materials in the sulfonic acid market may be considered a powerful contender to overcome the market's restraint. Manufacturers have created a new approach that focuses on developing environmentally friendly cleaners and agents to get over this limitation. All these factors are anticipated to boost the sulfonic acid market growth.
Factors such as increased industrialization and economic expansion are driving the global sulfonic acid market. Rising sales of detergent cleansers, surface cleaners, powders, and other cleaning products as a result of the rapid spread of coronavirus around the world are propelling the sulfonic acid market worldwide. Also, the global sulfonic acid market size is expected to expand as a result of the continued expansion of industries around the world.
Global Sulfonic Acid Market, Segmentation
The global sulfonic acid market is segmented based on application, end-use industry, and region.
The application segment is further classified into acid catalysts, detergent and surfactants, paper making, and pharmaceuticals. Among these, the detergent and surfactants sub-segment accounted a dominant market share in 2021. Sulfonic acid is widely used as a chemical surfactant in detergents and surfactants because of its low cost and high performance. Sulfonic acid is a powerful cleanser that can remove stains from garments and other materials, and it is also one of the least expensive surfactants in the washing industry.
The end-use industry segment is further classified into construction, cosmetic and personal care, paints and coatings, chemical manufacturing, and others. Among these, the chemical manufacturing sub-segment accounted a dominant market share in 2021. Sulfonic acid use is certainly highly advantageous in chemical manufacturing because of the simplicity of regeneration, separation, and recycling of the material, which is accompanied by a reduction in processing cost. Also, depending on the inorganic material's structural properties such as surface area and pore structure, sulfonic acid can provide a large number of catalytic sites and can influence the selectivity of the catalyzed organic reaction's products and can drive the selectivity of the catalyzed organic reaction's products.
The sulfonic acid market in the Asia-Pacific region is projected to show the fastest growth in 2031. The Asia-Pacific region accounted for the majority of the sulfonic acid market share, as the primary drivers for the growth of the sulfonic acid industry are low-cost product production, widespread sales , and the populace appears to be very interested in market advancements in terms of new products. The highest sulfonic acid market revenue is predicted to come from China, Japan, and India. Also, the consumer demand for sulfonic acid-based personal care products and detergents has increased significantly as a result of changing lifestyles and shifting preferences towards environmentally friendly products in the Asia-Pacific region which is anticipated to boost the sulfonic acid market growth in the region.
Key Players in the Global Sulfonic Acid Market
Some of the leading sulfonic acid market players are
- Vinati Organics Ltd
- Stepan Company
- Arkema SA
- Kuantum Corp. Co. Ltd.
- Nandadeep Chemicals Private Limited
- BASF SE
- National Company for Sulfur Products
- New India Detergents