PUBLISHER: Allied Market Research | PRODUCT CODE: 1266499
PUBLISHER: Allied Market Research | PRODUCT CODE: 1266499
The global sulfonic acid market is envisioned to garner $1.7 billion by 2031, growing from $700.1 million in 2021 at a CAGR of 9.2% from 2022 to 2030.
The rising usage of sulfonic acid in batteries, which aids in energy storage, has raised demand from the automotive industry. As the number of electric vehicles increases, so does the demand for sulfonic acid in the automotive industry. Sulfonic acid is used in a range of industries, including metal, automotive, and agricultural, where it is used as fertilizer. Sulfonic acid is mostly utilized in the metal sector as a cleaning agent, and for avoiding corrosion.
The fast development of demand for liquid detergents across several end-use industries, including food and beverage, household, and textiles, is driving the global market for sulfonic acid. Sulfonic acid is also an active component utilized in the soap and detergent industry. It has excellent capabilities and enormous advantages. As a result, it is expected that the global sulfonic acid market would expand more positively in the coming years. All these factors are anticipated to fuel the sulfonic acid market share.
However, environmental concerns associated with sulfonic acid plants are projected to hinder market progress during the forecast period. Inhaling sulfonic acid can cause irritation, leading in coughing, wheezing, and/or shortness of breath.
In order to make industrial processes more environmentally friendly, various attempts are now being made to replace the more prevalent homogeneous catalysts with heterogeneous ones. Acid catalysis is widely utilized in the chemical industry. According to this viewpoint, sulfonic solid acid materials are a respectable substitute for homogeneous mineral acid in a number of acid-catalyzed reactions.
The COVID-19 pandemic has produced various problems that have severely hampered the expansion of the sulfonic acid industry due to low demand from residential and commercial applications. Due to labor scarcity and lockdowns imposed in many nations, the sulfonic acid production plants were shuttered for an unprecedented period of time. Similarly, the chemical sector's sulfonic acid demand was hampered by a delay in raw material availability. In the chemical industry, for example, sulfonic acid is used to make olefins, detergents and surfactants, catalysts, and other products. These initiatives are expected to drive the sulfonic acid market size throughout the analysis period.
The key players profiled in this report include: Vinati Organics Ltd, Cepsa, Stepan Company, Arkema SA, Kuantum Corp. Co., Ltd., Nandadeep Chemicals Private Limited, BASF SE, National Company for Sulfur Products, Vizagchemicals, and New India Detergents