Sulfolane (Tetramethylene Sulfone) Market By Type, By Application, By Region- Global Forecast to 2027 – Cumulative Impact of COVID-19

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Sulfolane (Tetramethylene Sulfone) Market By Type, By Application, By Region- Global Forecast to 2027 – Cumulative Impact of COVID-19

July 29
21:41 2021
Sulfolane (Tetramethylene Sulfone) Market By Type, By Application, By Region- Global Forecast to 2027 - Cumulative Impact of COVID-19
Sulfolane (Tetramethylene Sulfone) Market By Type (Anhydrous Type, Aqueous Type) By Application (Gas Production and Oil Refining, Purifying Gas Streams, Fine chemical Field, Others) – Growth, Size, Share and Competitive Analysis 2015 – 2027

The research report published by Credence Research, Inc. “Global Sulfolane Market: Growth, Future Prospects, and Competitive Analysis, 2015 – 2027”. The global market produced a revenue of USD 123 million in 2020 and anticipated to grow at 1.5% CAGR from 2021 to 2027 to generate about USD 136 million in 2027.

Global Sulfolane Market, 2020 – 2027 (USD Million)

Sulfolane is a colourless liquid that is used as a solvent for extraction, distillation and chemical reactions across chemical industry. Moreover, the solution is also used to purify butadiene. These products are used in refineries to extract natural gases, oil and other lubricants. Additionally, Sulfolane is reused multiple times across petrochemical industry owing to its highly stable property.    

Key Trends in Global Sulfolane Market

Increasing demand for Sulfolane for purifying gas streams

Rising number of gas extraction centers across the globe is creating new opportunities for the market players. Moreover, the removal of acidic gases forms the obtained product is necessary allowing the raw material to be in pure and usable form. Sulfolane is widely used in the purification process during gas extraction. The product is used for the elimination of acid gases such as mercaptans, carbon oxides etc. Furthermore, low solvent flows, low corrosion, low heat loads, and high solvent loading property provide extra advantage during the extraction procedure.

Browse the full report at https://www.credenceresearch.com/report/sulfolane-market

Impact of COVID 19 on Global Sulfolane Market

Sulfolane market was negatively impacted during the pandemic outbreak. The refineries and chemical plant extraction and production halted for a while. Declination in the consumption of gas and oil led fuel manufacturers to halt the extraction procedure. This resulted in degradation of Sulfolane usage. The restricted mobility across the globe restricted the man force to be off the production site. Moreover, the limited logistics operations limited the transport of the product to the chemical plants. These factors impacted the industry affecting the demand and growth of Sulfolane.

Global Sulfolane Market by Type Insights

Anhydrous type and aqueous type are the two major types of global Sulfolane market. Anhydrous type segment accounted for the major share of the total revenue generated by the global Sulfolane market in 2020.

Anhydrous type and aqueous type are the two major types of global Sulfolane market. Anhydrous type segment accounted for the major share of the total revenue generated by the global Sulfolane market in 2020.   

Anhydrous Type Segment to dominate the global Sulfolane market

Global Sulfolane Market by Application Insights

Gas production and oil refining, purifying gas streams, fine chemical field and others are the major categories in the global Sulfolane market. Gas production and oil refining in Sulfolane accounted for the vast majority in the revenue generation of Sulfolane in 2020. It accounted for over 58% share in 2020.

 

Global Sulfolane Market by Regional Insights

North America accounted the largest market share for Sulfolane in 2020 with over 38% share in total revenue generation. North America has one of the largest networks of oil & gas pipeline and power transmission lines. However, Asia Pacific is also expected to exhibit highest CAGR over the forecast period. Rising establishment of onshore and offshore refineries Across the Asia Pacific region will drive the demand for Sulfolane in the forecast timeline.

Global Sulfolane Market Competitive Landscape

Most prominent players in the global Sulfolane market include CASIL Industries, Chevron Phillips, Liaoyang Guanghua Chemical, New Japan Chemical, Sumitomo Seika Chemical, Shell, Jinzhou Petrochemical Corporation. The report covers very detailed profiles of these key players.

The report answers questions such as:

  • What are the consequences of COVID 19 on global Sulfolane industry?
  • Who are the top five players in the global Sulfolane industry?
  • Which is the fastest growing application market for global Sulfolane industry?
  • Which is the leading regional market for global Sulfolane industry?
  • What will be the CAGR (2021 – 2027) of in global Sulfolane industry?
  • What was the volume and revenue of in global Sulfolane industry in 2015?
  • Which are the growing technological trends in in global Sulfolane industry?
  • Which are the major driving forces behind growth of global Sulfolane industry?
  • What are the key growth pockets within global Sulfolane industry?
  • What are the attractive investment prepositions in the global Sulfolane industry?
  • What are the key challenges faced by the industry participants in global Sulfolane market?
  • What is the competitive scenario in global Sulfolane industry?
  • Which are the major production geographies?
  • Who are the major regulatory bodies in global Sulfolane industry?
  • Which are the major companies governing the global Sulfolane industry?

Browse the full report at https://www.credenceresearch.com/report/sulfolane-market

About Us
Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non-legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives.

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Website: https://www.credenceresearch.com/report/sulfolane-market

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