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Sulfonic acids are a group of organic acids which is widely used as a catalyst in organic reactions. At the same time, its derivatives are employed to manufacture detergents, ion-exchange resins, catalysts, and water-soluble dyes. Sulfonic acid has a wide range of applications in the market, including thermoset resins in paints, phenolic foams, coatings, and various other pharmaceutical applications.
According to Researcher, the global Sulfonic Acid market is expected to witness a moderate growth rate having a CAGR of around 3% during the forecast period. The major factors responsible for the global Sulfonic Acid market's growth are the rising demand from the paints & coatings and the construction industries.
Asia-Pacific region is projected to dominate the Global Sulfonic Acid market. The rapid development in the construction industry in China, India, and Japan is likely to catalyze growth in the region. In terms of usage, North American and European region comes after Asia-Pacific owing to the demand from paints and coatings industry,
In terms of application, the Resins segment dominates the market. Thermoset resins are extensively used in paints & coatings owing to their enhanced performance attributes such as excellent adhesion quality, high tensile strength, etc.
In terms of segmentation by the End-user Industry, the Construction Industry is projected to dominate the Global Sulfonic Acid market. Rapid industrialization and urbanization result in the construction industry's growth, which is likely to propel the sulfonic acid market.
The Global Sulfonic Acid market is partially fragmented. Major companies in the market were found to be Arkema SA, Kuantum Corp, RUTGERS Organics Corp., Henan Fengbai Chemical Co., Nandadeep Chemicals Private Limited, and BASF SE, among others.
On January 20, 2020, BASF invested in capacity expansion for methane sulfonic acid at their Ludwigshafen Verbund site. It planned to increase the capacity to 50,000 metric tons per year in response to rising global demand. The additional capacities will be available by the fourth quarter of 2021.
Global Sulfonic Acid Market report provides deep insight into the Sulfonic Acid market's current and future state across various regions. The study comprehensively analyzes the Sulfonic Acid market by segmenting based on Grade (Resins, Esters, and Phenolic Foam), End-user Industry (Construction, Cosmetic & Personal Care, Paints & Coatings, Pharmaceutical, and Other End-user Industries), and Geography (Europe, Asia-Pacific, North America, South America, and Middle-East & Africa). The report examines the market drivers and restraints that are influencing the growth in detail. The study covers & includes emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with major companies' profiles, including their market shares and projects.
According to Researcher, the global Sulfonic Acid market is expected to witness a moderate growth rate having a CAGR of around 3% during the forecast period. The major factors responsible for the global Sulfonic Acid market's growth are the rising demand from the paints & coatings and the construction industries.
Asia-Pacific region is projected to dominate the Global Sulfonic Acid market. The rapid development in the construction industry in China, India, and Japan is likely to catalyze growth in the region. In terms of usage, North American and European region comes after Asia-Pacific owing to the demand from paints and coatings industry,
In terms of application, the Resins segment dominates the market. Thermoset resins are extensively used in paints & coatings owing to their enhanced performance attributes such as excellent adhesion quality, high tensile strength, etc.
In terms of segmentation by the End-user Industry, the Construction Industry is projected to dominate the Global Sulfonic Acid market. Rapid industrialization and urbanization result in the construction industry's growth, which is likely to propel the sulfonic acid market.
The Global Sulfonic Acid market is partially fragmented. Major companies in the market were found to be Arkema SA, Kuantum Corp, RUTGERS Organics Corp., Henan Fengbai Chemical Co., Nandadeep Chemicals Private Limited, and BASF SE, among others.
On January 20, 2020, BASF invested in capacity expansion for methane sulfonic acid at their Ludwigshafen Verbund site. It planned to increase the capacity to 50,000 metric tons per year in response to rising global demand. The additional capacities will be available by the fourth quarter of 2021.
Global Sulfonic Acid Market report provides deep insight into the Sulfonic Acid market's current and future state across various regions. The study comprehensively analyzes the Sulfonic Acid market by segmenting based on Grade (Resins, Esters, and Phenolic Foam), End-user Industry (Construction, Cosmetic & Personal Care, Paints & Coatings, Pharmaceutical, and Other End-user Industries), and Geography (Europe, Asia-Pacific, North America, South America, and Middle-East & Africa). The report examines the market drivers and restraints that are influencing the growth in detail. The study covers & includes emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with major companies' profiles, including their market shares and projects.
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This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
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The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
