Sodium Cumenesulfonate Market Growth, Trends, Absolute Opportunity and Value Chain -2024
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Based on form, the global sodium cumenesulfonate market has been classified into powder form and liquid form. However, decline in research and development activities related to sodium cumenesulfonate is likely to hamper the market during the forecast period. The liquid form segment contributed a major share of the market in 2015 and is likely to dominate the market during the forecast period.
Based on application, the global sodium cumenesulfonate market has been segmented into industrial & institutional, household, oilfield, laundry & cleaning, and others. Use of sodium cumenesulfonate as a detergent and cleaner for household application is growing. The household segment contributed a major share of the market in 2015 and is likely to be a dominant segment during the forecast period. Industrial and institutional is another lucrative segment of the market. It is anticipated to witness moderate growth during the forecast period. Growing population leads to rapid increase in industrialization. This is a key factor expected to drive the sodium cumenesulfonate market during the forecast period. The industrial & institutional application segment is likely to register the maximum CAGR during the forecast period.
Asia Pacific constituted a major share of the global sodium cumenesulfonate market in 2015 and the trend is likely to be continue during the forecast period. The market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period. Rising industrialization in emerging economies of the region is projected to raise the demand for sodium cumenesulfonate during the forecast period. The sodium cumenesulfonate market in Europe and North America, which is already at a mature stage, is likely to witness sluggish growth during the forecast period. The market in Asia Pacific is estimated to expand at the maximum CAGR during the forecast period, followed by Middle East & Africa. Growing hospitality sector leads to use of detergents and cleaning chemicals to maintain cleanliness. This factor is expected to propel the demand for sodium cumenesulfonate aids in Middle East & Africa during the forecast period.
The global sodium cumenesulfonate market is highly consolidated with only a few players operating in the market. Key players operating in the global market are Kuantum Corp., Stepan Company, Taiwan NJC Corporation, Xiangshui Fumei Chemical Co., Ltd., Nandadeep Chemicals Pvt. Ltd., Colonial Chemical, Wuhan Bright Chemical Co., Ltd., and Yashdeep Chemicals (India) Pvt. Ltd.
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