Oleum Market is Anticipated to Cross USD 2.57 Billion by 2030 at a CAGR of 4.80% from 2023 to 2030; Huge Surge in Demand for Chemicals in Various End-Use Industries to Create Ample Growth Opportunities
SkyQuest, a renowned research firm, has recently released a detailed report on the oleum market, providing a comprehensive guide that businesses can use to gain valuable insights into the industry's dynamics. The report's in-depth coverage of the market dynamics enables businesses to make informed decisions, develop effective strategies, and take advantage of emerging opportunities. The report is valuable for businesses seeking to understand the market's growth potential. It offers a complete analysis of the market's growth prospects, providing businesses with a clear picture of the industry's future.
Westford USA, March 13, 2023 (GLOBE NEWSWIRE) -- The oleum market is expected to experience significant growth in the Asia-Pacific region, with North America and Europe close behind. The segment growth is driven by various factors, including the rising demand for oleum in the chemical and fertilizer industries. As the global population grows and income levels rise, the demand for products and materials that require oleum as a key ingredient is also increasing. In addition, fertilizers play a crucial role in helping farmers to grow crops more efficiently and effectively, and oleum is a key ingredient in many different types of fertilizers.
According to SkyQuest, the global biofertilizers industry is poised for rapid development in the coming years, with projections indicating that it will surpass USD 5.7 billion by 2028. The swift growth is predicted to be driven by a CAGR of 11.90%, which is a testament to the increasing demand for eco-friendly and sustainable agricultural practices. As the biofertilizers industry continues to expand, it is likely to impact related markets, including the oleum market, positively. Oleum, a highly concentrated form of sulfuric acid, is a key ingredient in many fertilizers. As such, it stands to benefit from the growth in the biofertilizers industry.
*Browse in-depth TOC on "Oleum Market" *
· Pages - 275
· Tables - 65
· Figures - 67
Oleum, or fuming sulfuric acid, is a highly reactive and corrosive liquid that dissolves sulfur trioxide in concentrated sulfuric acid. This powerful substance has a wide range of industrial applications, including use in producing dyes, detergents, and explosives. One of the unique properties of oleum is its ability to act as a strong dehydrating agent. As a result, it is often used in the manufacturing of certain plastics and fibers, as well as in the purification of various chemicals.
*Prominent Players in Oleum Market*
· Kiri Industries Limited
· Ama Ltd.
· Yunnan Copper Co., Ltd.
· PhosAgro Group of Companies
· Atul Ltd.
· Maruti Fine Chemicals
· M. K. Industrial Corporation
· Jiangxi Copper Group Co. Ltd.
· Bodal Chemicals Limited
· Industrial Solvents & Chemicals Pvt. Ltd.
· Panoli Intermediates India Pvt. Ltd.
*Get a sample copy of this report:*
https://skyquestt.com/sample-request/oleum-market
*Sulfonating Agent Segment to Capture Significant Growth as the Demand for High-Quality Chemical Products Continues to Grow*
According to the research, the sulfonating agent segment is likely to maintain its leading position in the oleum market from 2023 to 2030, following its impressive revenue performance in 2022. This segment is a significant industry player and is likely to continue driving growth and profitability. The continued dominance of sulfonating agents in the market indicates their wide-ranging applications across various industries, including pharmaceuticals, agrochemicals, and polymers. With the increasing demand for sulfonating agents, manufacturers are expected to focus on developing innovative and cost-effective products to maintain their competitive edge.
The Asia Pacific oleum market is poised to experience a substantial surge in growth between 2023 and 2030. This is due to the huge surge in demand for oleum from diverse end-use industries such as pharmaceuticals, food & beverages, and cosmetics in India, China, Japan, South Korea, and Australia. The demand for oleum in the pharmaceutical industry is increasing due to its wide range of applications, such as drug formulation and synthesis. Additionally, oleum is also used in the food & beverages industry as a food preservative and flavoring agent and in the cosmetics industry as an ingredient in skincare and hair care products.
*Browse summary of the report and Complete Table of Contents (ToC):*
https://skyquestt.com/report/oleum-market
*Oleum 23% Segment to Attain Fastest Sales Growth Thanks to Its Relatively Low Fuming Point Making Easier to Handle and Transport than Other Forms of Oleum*
The oleum market saw significant growth in 2022, with the oleum 23% segment capturing a significant share. This segment will continue its momentum and gain more market share by 2030. Various factors, such as the substantial rise in the demand for sulfuric acid, a major raw material for oleum production, and the rising use of oleum in various industrial applications, drive the growing demand for oleum. Additionally, the increasing awareness about the benefits of oleum, such as its high reactivity and purity, is also contributing to its growth in the market.
According to industry analysts, the oleum market in North America is poised for rapid growth from 2023 to 2030. The regional progress can be attributed to several factors, including rising demand from various end-use industries such as pharmaceuticals, food and beverages, and personal care products. As these industries expand, the need for high-quality oleum is projected to rise accordingly. In addition to increasing demand, key players' investments in research and development activities are also expected to drive growth in the North American market.
The oleum market research report is a valuable resource for companies in this industry. Its comprehensive analysis of the competitive landscape provides insights into the strategies leading companies to adopt to gain a competitive advantage. In addition, the report covers various business segments and regional trends, allowing market participants to understand the market dynamics and make informed decisions.
*Speak to Analyst for your custom requirements:*
https://skyquestt.com/speak-with-analyst/oleum-market
*Key Developments in Oleum Market*
· Rust-Oleum, a company based in Attleboro, Massachusetts, has recently received recognition from the Environmental Protection Agency (EPA) for its efforts toward sustainable manufacturing practices. The recognition from the EPA is a significant achievement for Rust-Oleum and validates their continued efforts toward sustainability. It also highlights the importance of promoting eco-friendly practices in the manufacturing industry and encourages other companies to follow Rust-Oleum's lead in adopting sustainable practices.
· RPM International Inc. has excitedly announced the acquisition of Ali Industries, LLC, by its Rust-Oleum business. Ali Industries is a well-known sandpaper manufacturer and other abrasives, with its headquarters in Fairborn, Ohio. The acquisition is set to boost Rust-Oleum's business as Ali Industries brings in an annual net sale of around $75 million. In addition, with Ali Industries now under its umbrella, Rust-Oleum can diversify its product line and offer customers a wider range of quality abrasive solutions.
· Marshall Wace LLP, a prominent investment management firm, has recently acquired a new position in Ecovyst Inc., which operates in the Refining Services segment. Ecovyst offers a wide range of services in this segment, including producing and selling sulfuric acid, virgin sulfuric acid, and Oleum ECO services. With the support of Marshall Wace LLP, Ecovyst is well-positioned to improve its growth trajectory and expand its offerings in the refining sector.
*Key Questions Answered in Oleum Market Report*
· Which sub-segments are anticipated to have the highest profitability globally, and what factors contribute to this projection?
· In the forecast period, which emerging or underdeveloped regions are expected to experience significant growth, and what are the drivers of this potential growth?
· How have the leading players in the market differentiated themselves from their competitors through various strategies?
· How do geopolitical factors influence the market's performance, and what are the potential implications for future growth and profitability?
*Related Reports in SkyQuest’s Library:*
Global Soluble Dietary Fiber Market
Global Geosynthetics Market
Global Polysulfones Market
Global Sodium Alginate Market
Global Blue Ammonia Market
*About Us:*
SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.
*Address:*
1 Apache Way, Westford, Massachusetts 01886
*Phone:*
USA (+1) 617-230-0741
Email: sales@skyquestt.com
LinkedIn Facebook Twitter