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Sodium Cumenesulfonate Market to exceed $62 million by 2026
- Published Date: October 27, 2020
According to a new research report by Global Market Insights Inc., the Sodium Cumenesulfonate Market size is estimated to surpass USD 62 million by 2026.
The sodium cumenesulfonate market is likely to be driven by the steadily growing product applications in the detergent industry. Sodium cumenesulfonate is used in applications such as cleaners, wax strippers, and dishwashing detergents. The product possesses excellent properties, such as hydrotropic, viscosity reducing, and emulsifying properties, making it highly desirable for usage in the detergent industry. In household detergents, it is used as a hydrotropic, anticoagulant, and anti-caking agent.
Innovation in the advertisement of personal care products will provide opportunity for market expansion
Sodium 2-isopropylbenzenesulfonate is widely used in several personal care products such as Aveeno nourish shampoo and Neutrogena anti-residue shampoo, among others. Personal care product manufacturers are continuously engaged in innovative marketing strategies to enhance product awareness. Aveeno is promoting its shampoos and conditioners through mobile-enabled print ads. Furthermore, Aveeno has arranged several incentive programs that are expected to drive shampoo uses, thereby supporting sodium 2-isopropylbenzenesulfonate demand.
Browse key industry insights spread across 207 pages with 201 market data tables & 32 figures & charts from the report, “Sodium Cumenesulfonate Market, By Form (Liquid, Powder), By Application (Cloud Point Depressor, Solubilizer, Anti-caking Agent, Coupling Agent, Metal Processing), By End-user Industry (Detergent, Chemical, Metal Working, Oil & Gas), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
High activity of powder form is gaining popularity in the industrial detergent sector
The powder form segment is expected to grow by over 3.5% CAGR until 2026. The product in powder form has more purity compared to liquid form. Powdered sodium cumenesulfonate is heavily used in industrial powdered cleansers and detergents along with ink manufacturing. Powdered detergents have a strong demand from growing economies including India, Indonesia, Brazil, South Africa, etc. Improving living standards in Asian and African countries are pushing the sodium cumenesulfonate market share from the detergent industry.
The metal processing application is expected to generate around USD 9,950 thousand by 2026. Several metal processing cleaners, drilling fluids, and fracturing fluids used in the industrial industry use sodium cumenesulfonate owing to its excellent ability to promote compatibility among various chemicals present in any multi-component fluid system. The rising metal working industry in Latin America and Asia Pacific coupled with the establishment of new metal processing facilities in these regions will drive the sodium cumenesulfonate market growth. For instance, in July 2018, Hebel Bishi Steel Group announced an investment of around USD 2.54 billion in Indonesia to establish a new steel factory.
The sodium cumenesulfonate market from detergent end use segment is expected to grow by around 4.5% CAGR by 2026. Sodium 2-isopropylbenzenesulfonate is the largest end-user industry, in terms of product consumption. The detergent industry is anticipated to witness a strong growth due to increasing household income, rapid urbanization, rise in the middle-class population, and surge in the penetration of washing machines around the world. Furthermore, there is a rise in online channels and competitiveness in the this industry to keep product prices low & more affordable to the general population.
The Europe sodium cumenesulfonate market is expected to generate around USD 16,820 thousand revenue by 2026 owing to considerable growth in the detergent and chemical industries. Europe is the second-largest laundry detergent market. Better living standards, high disposable income, and high penetration of washing machines in the region will be responsible for most of the demand share and overall market growth. Europe is one of the prominent automotive hubs and thus houses the wide metal working industry. Growth in the automobile and aerospace manufacturing sectors in the region will drive product demand during the forecast period.
Some of the key participants involved in the sodium cumenesulfonate industry include Stepan Company, Yashdeep Chemicals Ltd., Wuhan Bright Chemical Ltd., Nandadeep Chemicals Ltd., Taiwan NJC Corporation, Kuantum Corp., and Nease Corporation, among others. Mergers & acquisitions along with the expansion of distribution network are among the key strategies adopted by players to enhance their competitiveness in the market.