As per the latest market analysis report on sulphonate additives by Fact.MR, a market research and competitive intelligence provider, the global market is projected to be valued at US$ 6.33 billion in 2022, and progress at a CAGR of around 5.8% over the period of 2022-2032.
Demand for sulphonate additives is triggered by increasing application in lubricants and engine oils due to their excellent rust inhibition and detergent properties. It is observed that sulphonate additives often increase the efficiency of engines by preventing metal debris from accumulating in the moving parts. An efficient engine reduces carbon emission due to the complete combustion of the fuel, leading to a cleaner environment.
The European market is the most lucrative for sulphonate additive manufacturers, and is expected to create an absolute dollar opportunity of US$ 1.38 billion by the end of the forecast period.
Currently, the Ukraine-Russia conflict has shattered crude oil supply across the globe. This has moved fuel prices upwards across regions. To save on fuel consumers are looking out for engine oils that can smoothen the working condition of the engine and lead to optimum fuel usage.
Key Takeaways from Market Study
- By application, engine oil transmission is projected to provide an absolute $ opportunity worth US$ 2.18 billion over the forecast period.
- Based on application, demand for metalworking fluids is projected to increase at a CAGR of around 6% over the decade.
- Based on type, sales of alkaryl sulfonates are anticipated to expand around 2X by 2032.
- Europe is projected to capture around 27.5% of the global sulphonate additives market share by 2032, and provide an absolute dollar opportunity worth US$ 1.38 billion.
“The Ukraine-Russia conflict has been impacting the current demand supply scenario of sulphonate additives at a moderate to high level; the effects will be seen over the medium term,” says a Fact.MR analyst.
Sulphonate additive producers are gradually trying to optimize their supply chains by targeting customers in the lubricant and engine oil business. Furthermore, manufacturers are aligning their product lines to the dynamics of engine oil consumers and changing macro-economic factors such as emission norms.
More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the sulphonate additives market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights based on type (alkaryl sulfonates, sodium sulfonate, calcium sulfonate, and magnesium sulfonate) and application (engine oils (transportation (automotive, marine), power tools), detergent production, metalworking fluids, automatic transmission fluids, automotive gear oil additives, and others), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
About the Chemicals and Materials Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemicals and materials team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over a thousand reports and 1 million-plus data points, the team has analysed the chemicals industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
For more information, refer to our market research report or contact the PR author.