Universally considered to be one of the fastest growing verticals within the bulk and specialty chemicals space, global sodium cumenesulfonate market size is slated to grow exponentially in the upcoming years. The anticipated industry expansion is driven by a strong demand for detergents and industrial cleaners, along with a surging product application scope in the oil & gas sector.
The overall sodium cumenesulfonate market is classified into different segments based on form, application, end-user industry, and regional landscape.
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Sodium cumenesulfonate is commercially available in the market in liquid and powder forms. The demand for powdered form segment of the compound is projected to grow at a CAGR of more than 3.5% through the analysis timeframe on account of widespread use in heavy laundry applications.
In terms of the applications, global sodium cumenesulfonate industry is segmented into metal processing, solubilizer, cloud point depressor, anti-caking agent, coupling, and others. Among these, the sodium cumenesulfonate market size from solubilizer application is estimated to generate revenues of over $12.5 million by 2026. The substance is extensively used as a solubilizer in a variety of heavy-duty cleaners, dishwashing detergents, and numerous types of wax strippers.
Over the past few years, solubilizers have been experiencing a substantial demand in a range of cosmetic, personal care, and personal hygiene products including body washes and liquid hand washes in addition to cleaners and detergents. Increasing consumption of personal hygiene products amid the COVID-19 pandemic is likely to further boost solubilizer demand in the near future.
The chemical, detergent, oil & gas, and metal working, among others, are the major end-users of the product. The consumption of sodium cumenesulfonate across the oil & gas sector is expected to grow at a CAGR of over 3.5% through the forecast timeframe. The anticipated segment growth will be mainly driven by the flourishing oil & gas sector in North America on account of increasing exploration and production activities.
The oil & gas sector in the U.S. is constantly evolving and in the upcoming years, the U.S. is likely to be at the center of oil & gas investments. The COVID-19 pandemic has severely affected the industry in numerous ways. In order to overcome this impact, the U.S. government is expected to make substantial investments in both onshore and offshore projects, which will create favorable opportunities for regional sodium cumenesulfonate suppliers.
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From a geographical point of view, Latin America sodium cumenesulfonate industry size is set to surpass an annual valuation of more than $9.9 million by 2026, with rapid expansion of chemical, detergent, and metal processing sectors. In 2019, the region witnessed more than $10.7 billion in several new upstream deals.
Although the COVID-19 pandemic had disrupted the regional oil & gas sector significantly, the industry is well set for a rebound in the upcoming years, with respective governments expanding their oil & gas investments in new drilling projects. These trends will fuel the regional demand for sodium cumenesulfonate in the future.