Selbyville, Delaware, Oct. 29, 2020 (GLOBE NEWSWIRE) -- According to a new report by Global Market Insights Inc., the Sodium Cumenesulfonate Market size was valued at $57.7 billion in 2019 and is slated to exceed $62 million by 2026, registering a CAGR of 4.3% from 2020 to 2026. The new research report delivers a highly detailed analysis of the overall market estimations and size, significant investment pockets, major winning strategies, opportunities and drivers, shifting market trends, and competitive scenarios.

The growing oil exploration and production activities are anticipated to positively contribute to the overall sodium cumenesulfonate market. With the increasing exploration activities, the product demand in drilling fluids and completion fluids is set to bring huge revenue gains in the overall market. Sodium 2-isopropylbenzenesulfonate is widely used as primary emulsifiers in various important functions such as the formulation of emulsifiable lubricating compositions that are further used for cutting fluids, hydraulic fluids, metalworking lubricants, and others.

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The liquid form of sodium cumenesulfonate showcases the highest growth rate and is expected to grow by over 4.5% CAGR until 2026. Liquid form sodium 2-isopropylbenzenesulfonate dominates the market with multiple applications across various end-user industries. The product in liquid form is used in heavy-duty laundry detergents, light-duty liquid detergents, rinse aids, automatic dishwasher, industrial cleaners, and metal preparation & working. Growth in liquid laundry detergents in Asia Pacific and Latin America will drive the sodium cumenesulfonate market growth during the forecast period.

The anti-caking application segment will witness rapid growth and is expected to generate over USD 5,640 thousand by 2026. An anti-caking agent is used in granulated materials or powder products to avoid the formation of lumps and for easing transport, flowability, packaging, & consumption. The application is mainly used in powder detergents and other products. Furthermore, rising consumption of powder detergents in Asia Pacific coupled with the development of advanced laundry washing powders is expected to drive the growth of sodium cumenesulfonate market segment.

The chemical end-user industry is expected to generate around USD 2,170 thousand revenue by 2026. Product demand from the chemical industry is expected to witness sluggish growth over the forecast period. Sodium 2-isopropylbenzenesulfonate is used in the production of several additives, wax cleaners, and fracturing fluids, among others. The proliferating chemical industry across the Asia Pacific and North America is driving the sodium cumenesulfonate market share.

The Asia Pacific is expected to witness growth rate of around 5% from 2020 to 2026. Growing population, rising income levels, and improving living conditions have offered lucrative opportunities to detergent manufacturers in Asia Pacific, positively stimulating product penetration in the region. Furthermore, the growing demand for detergents and metal products in the region is expected to drive the regional sodium cumenesulfonate market revenue. Expansion of established chemical industry facilities along with increasing chemical production in the region will further support the regional growth over the study timeframe.

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Prominent industry players in the sodium cumenesulfonate industry include Stepan Company, Yashdeep Chemicals Ltd., Wuhan Bright Chemical Ltd., Nandadeep Chemicals Ltd., Taiwan NJC Corporation, Kuantum Corp., and Nease Corporation, among others. They have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.

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