Cumene Sulfonic Acid Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1403
Cumene Sulfonic Acid Market size is flourishing and is projected to grow at a healthy rate over the projected timeframe. Cumene is an oily, colourless and aromatic hydrocarbon attained from propylene and benzene. The product is an aromatic sulfonic acid synthesized by sulfonation process in which cumene is treated with sulphuric acid in the presence of oleum. Cumene sulfonic acid market has wide range of applications including thermoset resins used in paints & coating industry, esterification process, and phenolic foams and various pharmaceutical applications.
Paints & coating market is growing significantly at a CAGR close to 5% and is expected to have a positive influence on the cumene sulfonic acid market size in the coming years. Robust growth in pharmaceutical industry due to intensifying focus on R&D will eventually result in prominent contribution towards growing trends in cumene sulfonic acid market size by 2024.
The product is extensively employed in preparing esters which has widespread applications in cosmetics industry used in synthetic flavours, perfumes, deodorants etc. Changing life style has resulted in thriving cosmetics industry and is forecast to grow at a CAGR of over 4%. Growing demand for esters in cosmetics industry will lead to mounting cumene sulfonic acid market size in the coming years. The cumene sulfonic acid market has variety of applications in construction industry as binders, surfactants in coating offering excellent adhesion and preventing corrosion formation. Rapid industrialization and urbanization has resulted in growth of construction industry at a CAGR close to 5% which is likely to contribute towards cumene sulfonic acid market size by 2024.
However, the product has lower compatibility with skin and henceforth used in a limited quantity in cosmetics industry. It is probable to hamper the growth of cumene sulfonic acid market size in future. The product has extensive range of applications in various end-user industries such as pharmaceuticals, construction, paints & coatings, etc. and henceforth likely to have rising opportunities which will heavily contribute towards growing cumene sulfonic acid market size over the projected timeframe.
The cumene sulfonic acid market is segmented based on application into thermoset resins for paints and coatings, esterification for cosmetic industry, phenolic foam in construction and pharmaceutical industry. Thermoset resins are extensively used in coatings owing to its enhanced performance attributes such as high tensile strength, excellent adhesion quality, etc. With escalating construction industry, it is expected that there will be prominent industry size gains in the industry in the coming years. Esters are utilized in the making of flavours and fragrances used in cosmetic industry and in pharmaceuticals industry. Product based salts, particularly cumene sodium sulfonate is utilized in surfactants and detergent applications. These surfactants are low priced and comparatively harsh and is extensively used as industrial cleaner. It is likely to stimulate the cumene sulfonic acid market size in coming years.
In Asia Pacific, rapid industrialization and urbanization is prevailing in developing countries including India and China and will result in growing trends in construction industry. Henceforth, it will positively influence cumene sulfonic acid market size in future. North America and Europe contributed a prominent chunk of the overall industry share in 2016. Growth in these regions is chiefly attributed to existence of massive pharmaceutical and cosmetics industry. Middle East & Africa are likely to show growing trend during the forecast period owing to product usage in the paints & coating industry.
Key global cumene sulfonic acid market players are Kuantum Corp, RUTGERS Organics Corp., Henan Fengbai Chemical Co., Ltd., Nandadeep Chemicals Private Limited, Nease Company, LLC, Wuhan Jadechem International Trade Co., Zibo Dehong Chemical Technical Co., Ltd., etc. Most of these players are employed in activities spread across the entire industry ecosystem. Major global cumene sulfonic acid market share contributors are engaged in manufacturing and supplying the product. For instance, Kuantum Corp is engaged in manufacturing and supplying the product across globe.
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