Product ID: SQMIG15B2041
Global Oleum Market Size, Share, Growth Analysis, By Product(Oleum 23%, Oleum 65%), By Application(Sulfonating Agent, Dye) - Industry Forecast 2024-2031
Report ID:
SQMIG15B2041 |
Region:
Global |
Published Date: February, 2024
Pages:
275
|
Tables:
65 |
Figures:
76
Global Oleum Market Insights
Oleum Market size was valued at USD 1.69 billion in 2019 and is poised to grow from USD 1.77 billion in 2023 to USD 2.57 billion by 2031, growing at a CAGR of 4.8% in the forecast period (2024-2031).
Oleum is a murky, dark, caustic liquid with a strong, permeating stench. When exposed to air, it emits sulfur trioxide. This sulfur trioxide reacts fast with any moisture in the air, resulting in a fine sulfuric acid mist. Short-term inhalation of low amounts produces irritation of the nose, throat, and lungs. Prolonged exposure to greater quantities results in a burning feeling, coughing, gagging, chest pain, fluid accumulation in the lungs, and the possibility of suffocation and death.
Oleum is sulfur trioxide excess dissolved in sulfuric acid. Oleum is sometimes known as 'fuming sulfuric acid.' In the United States, oleum is often transported on special rail tank cars outfitted with steam conduits. Road tankers are used by industrialists in the United Kingdom to carry oleum. Because oleum is a solid at certain concentrations, whereas sulfuric acid is a liquid, and because oleum is less bulky, carrying concentrated sulfuric acid via oleum is safer. The industrial user then carefully heats the tank car using the steam conduits to melt the oleum, which is then extracted as a liquid.
US Oleum Market is poised to grow at a sustainable CAGR for the next forecast year.
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Global Oleum Market Segmental Analysis
The global Oleum market is segmented based on product, application and region. Based on product, the market is segmented into Oleum 23%, Oleum 65%, Others. Based on application, the market is segmented into Sulfonating Agent, Dye, Explosive, Drug, Others. Based on region, the Oleum market is categorized into North America, Europe, Asia-Pacific, and MEA.
Oleum Market Analysis by Application
The sulfonating agent segment is expected to account for a sizable proportion of the global oleum market. Sulfuric acid is delivered using oleum. During the projection period, the dye, explosive, and medicine application categories are likely to expand at a stable rate and offer substantial potential.
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Global Oleum Market Regional Insights
In 2021, Asia Pacific accounted for the lion's share of the global oleum market followed by North America and Europe. The Asia Pacific region of the global oleum market is quite profitable. This pattern is predicted to continue in the next years. The Asia Pacific oleum market is being pushed by the rise of the cleaning detergents and cleaning sector, as well as the region's strong economic growth.
During the projection period, the market in Latin America and the Middle East and Africa is expected to rise at a modest rate. Mexico's end-use industries have been steadily developing. The market in the United Arab Emirates is likewise rapidly developing. This is expected to drive oleum demand in Latin America and the Middle East and Africa, respectively.
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Global Oleum Market Dynamics
Oleum Market Driver
- Rise in usage of oleum in different industries
The increased demand for oleum in end-use industries is likely to boost the market during the forecast period. It is primarily utilized as an intermediary in the manufacture of sulfuric acid. As a critical chemical compound, sulfuric acid is utilized in the production of a variety of well-known compounds such as hydrochloric acid, nitric acid, phosphoric acid, and many more industrial chemicals. Demand for oleum is predicted to rise as demand for sulfuric acid rises. This will, in turn, boost the oleum market over the forecast period.
Oleum Market Challenge
- Rapid increase in price
Imported sulfur prices have risen significantly as a result of numerous import regulations. Sulfuric acid costs have been steadily rising since the second half of 2020. The price will rise again in July 2021. China is one of the world's top manufacturers of sulfuric acid. In East China, the average market price of smelting sulfuric acid has risen from USD 15/ton in 2020 to USD 120/ton in 2021. As a result, quick price increases may provide a challenge to the market's growth.
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Global Oleum Market Competitive Landscape
The global oleum market is highly fragmented with the presence of both established and local/regional players. The top players in markets hold less than 10% of the market demand.
Oleum Market Top Players Company Profiles
- The Dow Chemical Company
- Eastman Chemical Company
- ExxonMobil Corporation
- Honeywell International Inc.
- Huntsman Corporation
- INEOS Group Limited
- BASF SE; LyondellBasell Industries N.V.
- Mitsubishi Chemical Corporation
- PPG Industries, Inc.
- Royal Dutch Shell plc
- SABIC
- Sasol Limited
- Sinopec Corporation
- Solvay S.A.
- Sumitomo Chemical Co., Ltd.
- Tata Chemicals Limited
- The Chemours Company
- The Linde Group
- Toray Industries, Inc.
Oleum Market Recent Developments
- In May 2022, WeylChem International GmbH completed the acquisition and integration of INEOS Sulfur Chemicals Spain SLU, INEOS enterprises' main Spanish sulfur chemicals arm. The acquired company includes a 350,000 ton annual capacity sulfuric acid production facility in Bilbao. The newly merged sulfur business is currently known as "WeylChem Bilbao."
- In July 2021, The Boliden group announced a EUR 700 million expansion plan for its Odda zinc smelter in western Norway. The Odda facility, which will have a capacity of 350,000 tons per year after a 75% capacity increase, will feature a new roaster, a new sulfuric acid factory, and a new cell house. The leaching and purifying plant, as well as the foundry and quay infrastructure, will be extended and updated. The expansion is scheduled to be finished in 2024.
Global Oleum Key Market Trends
- Sulphuric acid and oleum were the 1754th most traded product in the world in 2020, with a total trade value of US$1.16 billion. Sulphuric acid and oleum exports fell by -25.3% between 2019 and 2020, from US$1.55 billion to US$1.16 billion. Sulphuric acid and oleum trade account for 0.0069% of total global trade. In 2020 the top importers of Sulphuric acid, oleum were United States (US$256M), Chile (US$113M), Democratic Republic of the Congo (US$103M), Singapore (US$60.5M), and Morocco (US$46.9M).
Global Oleum Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates, and analyses the data collected by means of primary exploratory research backed by the robust secondary desk research.
According to our analysis, the rising usage of oleum in different industries is anticipated to drive the demand of oleum over the forecast period. For instance, Oleum is employed as a basic ingredient in sulfonation procedures (chemically adding sulfate), nylon manufacturing, dye production, nitrating reactions, and the production of hydrofluoric acid (HF).
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1.69 billion |
| Market size value in 2031 | USD 2.57 billion |
| Growth Rate | 4.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Oleum Market Recent Developments
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Oleum Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Oleum Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Oleum Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Oleum Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Oleum Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Oleum Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Oleum Market Report Snapshots
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