Sulfonic Acid Market Anticipated to Garner $1,664.7 Million, Growing at a 9.2% CAGR in the 2022-2031

The global sulfonic acid market is expected to grow primarily due to the growing need for personal hygiene and cleanliness. The Europe region is predicted to grow at a high CAGR by 2031.

As per the report published by Research Dive, the global sulfonic acid market is expected to register a revenue of $1,664.7 million by 2031 at a CAGR of 9.2% during the forecast period 2022-2031.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐧𝐨𝐰 @ https://www.researchdive.com/download-sample/8628

𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭
The increased usage of sulfonic acid as an effective catalyst in a variety of applications is expected to make the sulfonic acid market a highly profitable one in the forecast period. Additionally, the growing need for detergents and cleansers to achieve hygiene standards has resulted in increased demand for sulfonic acid, which is predicted to propel the market forward. However, the harmful impacts of sulfonic acid on the environment and people might become a restraint in the growth of the market. The use of sulfonic acid is expanding due to rising investments and the development of new facilities in the apparel and textile sectors, which is predicted to offer many growth opportunities to the market in the forecast period.

𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐨𝐧 𝐭𝐡𝐞 𝐆𝐥𝐨𝐛𝐚𝐥 𝐒𝐮𝐥𝐟𝐨𝐧𝐢𝐜 𝐀𝐜𝐢𝐝 𝐌𝐚𝐫𝐤𝐞𝐭
The COVID-19 pandemic adversely impacted industrial processes across all sectors. The sulfonic acid market, too, was negatively impacted due to the pandemic. Production operations and logistics activities were hampered by quarantine, strict lockdowns, and social isolation, which disrupted supply chain networks. This eventually dropped the need for sulfonic acid owing to the closure of manufacturing plants, disruptions in the supply chain, as well as an economic slowdown across several countries. These factors significantly hindered the market growth amidst the pandemic.

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐒𝐮𝐥𝐟𝐨𝐧𝐢𝐜 𝐀𝐜𝐢𝐝 𝐌𝐚𝐫𝐤𝐞𝐭

The report has divided the sulfonic acid market into the segments based on application, end-use industry, and region.

By application, the detergent and surfactant sub-segment registered a leading market share in 2021. Detergents and surfactants are effective cleaners capable of removing stains from clothing and other materials are the most affordable surfactants in the washing industry. This is expected to push the growth of this sub-segment further.

By end-use industry, the chemical manufacturing sub-segment held a leading market share in 2021. Sulfonic acid is commonly used as a catalyst in the chemical industry owing to the various types of chemical syntheses that use acids; this is expected to augment the growth rate of the market in the 2022-2031 timeframe.

By region, the Europe sulfonic acid market is expected to lead the global market during the forecast period. The increasing demand for personal care goods, increasing per capita expenditure, industrial growth, rapid urbanization, and shifting customer preferences for environmentally friendly surfactants and detergents in this region are predicted to propel the market in the forecast period.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 @ https://www.researchdive.com/request-for-customization/8628

𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭
The major players of the global sulfonic acid market include Cepsa, Vinati Organics Ltd., Stepan Company, Nandadeep Chemicals Private Limited, Arkema SA, Kuantum Corp. Co., Ltd., BASF SE, Vizagchemicals, New India Detergents, National Company for Sulfur Products, and others. These players are working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to sustain market growth.

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