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At a compound annual growth rate (CAGR) of 5.8% over the forecast period (2023-2030), the size of the global oleum market is expected to increase from its 2022 valuation of USD 1.75 billion to USD 2.59 billion by 2030.
Oleum is a thick, black, caustic liquid with a very pungent odor. Sulfur trioxide is released into the atmosphere upon contact. This sulfur trioxide rapidly combines with atmospheric moisture to form a fine sulfuric acid mist. When inhaled for even a short period of time, even trace amounts can irritate the respiratory tract. A burning sensation, coughing, gagging, chest pain, fluid accumulation in the lungs, the risk of asphyxia, and death can happen from prolonged exposure to larger concentrations. Oleum is a byproduct of sulfuric acid production; it is excess sulfur trioxide. The term "fuming sulfuric acid" is also used to describe oleum. Oleum is typically shipped throughout the United States using dedicated rail tank carriages fitted with steam conduits. In the United Kingdom, business owners transport oleum by road tankers. Concentrated sulfuric acid is safer to transport using oleum because at certain concentrations oleum becomes a solid while sulfuric acid remains a liquid. The oleum is melted in a steam-heated tank car and then carefully removed as a liquid by the industrial user.
Segmentation of the worldwide oleum market is performed on the basis of product, application, and geography. The market is broken down into the oleum sector (23%), the oleum sector (65%), and others (the other 35%). The global sulfonating agent market is divided into submarkets for sulfonating agent, dye, explosive, drug, and others. The global Oleum market is divided into four regions: North America, Europe, Asia-Pacific, and the Middle East and Africa.
Methodology of Use Analysis
It is anticipated that the sulfonating agent submarket will constitute a large share of the worldwide oleum market. Oiled sulfuric acid is pumped into the body. There is considerable opportunity in the dye, explosive, and pharmaceutical application segments during the forecast period.
Driver
Increasing numbers of businesses are beginning to use oleum.
Over the next few years, the oleum industry should benefit from rising demand from end-use industries. Used largely as a precursor in the production of sulfuric acid. Sulfuric acid is an essential chemical that is used in the manufacturing of many other chemicals, including hydrochloric acid, nitric acid, phosphoric acid, and many others. As the need for sulfuric acid grows, so too will the demand for oleum. Because of this, the oleum industry stands to grow during the projected time frame.
Challenge
Price increases quickly
As a result of stricter requirements, the cost of sulfur that must be imported has skyrocketed. The price of sulfuric acid has been on the rise from the latter half of the year 2020. In July of 2021, we will implement another increase. Sulfuric acid is produced in China at a rate that is among the highest in the world. Sulfuric acid smelting costs in East China have increased from USD $15 per ton in 2020 to USD $120.00 per ton in 2021. As a result, sharp price increases could impede the expansion of the market.
Important Developments in the Market
The combined value of international trade in sulphuric acid and oleum in 2020 was $1.16 billion, making it the 1754th most traded product in the world. In 2020, the value of sulphuric acid and oleum exports dropped from $1.55 billion in 2019 to $1.16 billion in 2020, a decrease of -25.3%. The international commerce in sulphuric acid and oleum represents only 0.0069% of the total. The United States ($256M), Chile ($113M), the Democratic Republic of the Congo ($103M), Singapore ($60.5M), and Morocco ($46.9M) were the top five countries importing sulphuric acid, oleum in 2020.
Report Coverage
Global Oleum research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Oleum report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Oleum competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Oleum market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Oleum market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Oleum market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
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.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Oleum market based on the below-mentioned segments:
Global Oleum Market, By Product
Oleum 23%
Oleum 65%
Others
Global Oleum market, By Application
Sulfonating Agent
Dye
Explosive
Drug
Others
Global Oleum market, Regional Analysis
Oleum is a thick, black, caustic liquid with a very pungent odor. Sulfur trioxide is released into the atmosphere upon contact. This sulfur trioxide rapidly combines with atmospheric moisture to form a fine sulfuric acid mist. When inhaled for even a short period of time, even trace amounts can irritate the respiratory tract. A burning sensation, coughing, gagging, chest pain, fluid accumulation in the lungs, the risk of asphyxia, and death can happen from prolonged exposure to larger concentrations. Oleum is a byproduct of sulfuric acid production; it is excess sulfur trioxide. The term "fuming sulfuric acid" is also used to describe oleum. Oleum is typically shipped throughout the United States using dedicated rail tank carriages fitted with steam conduits. In the United Kingdom, business owners transport oleum by road tankers. Concentrated sulfuric acid is safer to transport using oleum because at certain concentrations oleum becomes a solid while sulfuric acid remains a liquid. The oleum is melted in a steam-heated tank car and then carefully removed as a liquid by the industrial user.
Segmentation of the worldwide oleum market is performed on the basis of product, application, and geography. The market is broken down into the oleum sector (23%), the oleum sector (65%), and others (the other 35%). The global sulfonating agent market is divided into submarkets for sulfonating agent, dye, explosive, drug, and others. The global Oleum market is divided into four regions: North America, Europe, Asia-Pacific, and the Middle East and Africa.
Methodology of Use Analysis
It is anticipated that the sulfonating agent submarket will constitute a large share of the worldwide oleum market. Oiled sulfuric acid is pumped into the body. There is considerable opportunity in the dye, explosive, and pharmaceutical application segments during the forecast period.
Driver
Increasing numbers of businesses are beginning to use oleum.
Over the next few years, the oleum industry should benefit from rising demand from end-use industries. Used largely as a precursor in the production of sulfuric acid. Sulfuric acid is an essential chemical that is used in the manufacturing of many other chemicals, including hydrochloric acid, nitric acid, phosphoric acid, and many others. As the need for sulfuric acid grows, so too will the demand for oleum. Because of this, the oleum industry stands to grow during the projected time frame.
Challenge
Price increases quickly
As a result of stricter requirements, the cost of sulfur that must be imported has skyrocketed. The price of sulfuric acid has been on the rise from the latter half of the year 2020. In July of 2021, we will implement another increase. Sulfuric acid is produced in China at a rate that is among the highest in the world. Sulfuric acid smelting costs in East China have increased from USD $15 per ton in 2020 to USD $120.00 per ton in 2021. As a result, sharp price increases could impede the expansion of the market.
Important Developments in the Market
The combined value of international trade in sulphuric acid and oleum in 2020 was $1.16 billion, making it the 1754th most traded product in the world. In 2020, the value of sulphuric acid and oleum exports dropped from $1.55 billion in 2019 to $1.16 billion in 2020, a decrease of -25.3%. The international commerce in sulphuric acid and oleum represents only 0.0069% of the total. The United States ($256M), Chile ($113M), the Democratic Republic of the Congo ($103M), Singapore ($60.5M), and Morocco ($46.9M) were the top five countries importing sulphuric acid, oleum in 2020.
Report Coverage
Global Oleum research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Oleum report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Oleum competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Oleum market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | 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. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Oleum Market from 2021 to 2030.
- Market Forecast for Oleum Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Oleum competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Oleum
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Oleum market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Oleum market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
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.
Primary Target Market
- Market Players of Oleum
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Oleum market based on the below-mentioned segments:
Global Oleum Market, By Product
Oleum 23%
Oleum 65%
Others
Global Oleum market, By Application
Sulfonating Agent
Dye
Explosive
Drug
Others
Global Oleum market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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