Global Sulfolane Industry to accumulate huge gains of over 100 Million by 2025

Global Sulfolane Industry to accumulate huge gains of over 100 Million by 2025

Published: 23-Jan-2020 | Published By: Market Research Store

The published report on “Sulfolane Market –By Type (Anhydrous and Aqueous) and By Application (Gas Production &Oil Refining, Fine Chemical Field, Purifying Gas Streams, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025.” exhibits the demand for global Sulfolanemarket in 2018 was around USD 100million. It is expected to reach approximately USD 110million by 2025 with a CAGR of around 1.50%.

Browse Full Report 155 Market Data Tables and 46 Figures spread through 155 Pages and in-depth TOC on "Global Sulfonated Asphalt Industry (Manufacturing, Aviation & Transportation, Food Processing, Science & Technology), Region - Global Forecast to 2025" View detailed Table of Content here https://www.marketresearchstore.com/report/global-sulfonated-asphalt-industry-market-research-2019-439128

Sulfolane is also termed as tetramethylenesulfone and is a human-madeindustrial solvent having excellent heat stability. It is anorganosulfurcompound that is colorless and transparent. Moreover, it acts as a scrubbing agent along with being a polar solvent & miscible in water. It can be reused a large number of times and acts as a vapor suppressant when combined with hydrofluoric acid.

Furthermore, Sulfolane is massively utilized for purifying hydrocarbon compounds, deriving aromatic hydrocarbons from hydrocarbon mixtures, and purifying natural gas through the removal of inhibitors like hydrogen sulfide, mercaptans, and carbon dioxide from natural gas through the use of alkanolamine&Sulfolanecombination. This is predicted to steer the growth of the Sulfolane industry over the period from 2019 to 2025.

Apparently, the lucrative use of aqueousSulfolanein gas desulfurization along with the extracting of aromatic compounds is anticipated to embellish the expansion of the Sulfolaneindustry over the forecast timeline. In addition to this, exhaustion of non-renewable resources and a rise in the acceptance of biofuels is predicted to propel gas desulfurization demand and add to the large-scale aromatics extraction over the forecast timespan. The process of sulfinol using Sulfolane and finding lucrative applications in petrochemical sector is predicted to steer the business trends.

The Middle East and African regionis projected to dominate the overall industry expansion during the forecast period subject to the surge in the vehicle demand with inflation witnessed in oil & gas extraction activities. In addition to this, a large number of natural oil & gas basins or reservoirs are found in the Middle East nations like Kuwait, Saudi Arabia, Iraq, and Iran. This will further amplify the expansion of the Sulfolane industry in the Middle East & Africa over the forecast timespan.

Furthermore, the Sulfolane industry in North America is projected to witness a notable surge over the forecast timeframe owing to the burgeoning demand for the product in the thriving pharmaceutical sector with a prominent surge in the health consciousness.

Sulfolane business in the Asia Pacific region is also slated to experience lucrative growth during the period from 2019 to 2025 subject to large-scale sale of the product in countries like China as a result of massive product consumption.

Key players in the SulfolaneMarket include Chevron Phillips Chemical Company, Liaoyang Guanghua Chemical, Shell Oil Company, Sumitomo Seika Chemical, ChangleHaizhou Chemical, Liaodong Fine Chemical, Jinzhou Petrochemical Corporation, New Japan Chemical, and CASIL Industries.

This report segments the Sulfolanemarket as follows:

Global SulfolaneMarket: By Type Segment Analysis

  • Anhydrous
  • Aqueous

Global Sulfolane Market: By Application Segment Analysis

  • Gas Production &Oil Refining
  • Fine Chemical Field
  • Purifying Gas Streams
  • Others

Global SulfolaneMarket: Regional Segment Analysis

  • North America
    • U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • Middle East and Africa

 

Key Pointers Addressed by the Report

  • Historical data and forecast analysis of the market
  • Drivers and Restraints affecting market dynamics
  • Exhaustive analysis about the future market trends
  • Comprehensive information about the leading market segments and region
  • Strategic developments made by the competitive players and in-depth analysis about its impact on market growth

 

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