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Oleum Market: Highlights

  • Oleum is a cloudy, gray, fuming, oily, corrosive liquid with a sharp, penetrating odor. It releases sulfur trioxide in the presence of air. This sulfur trioxide reacts quickly with any air moisture, producing a fine sulfuric acid mist. Inhalation at low concentrations for a short period causes irritation to the nose, throat, and lungs. Prolonged exposure at higher concentrations causes burning sensation, coughing, gagging, chest pain, accumulation of fluid in lungs, and possible suffocation and death.
  • Oleum is excess sulfur trioxide dissolved in sulfuric acid. Another name for Oleum is ‘fuming sulfuric acid.’ Oleum is usually transported in the U.S. by special rail tank cars fitted with steam conduits. Industrialists in the U.K. use road tankers to transport oleum. The oleum form of transport is safer than shipping concentrated sulfuric acid, partly because oleum is a solid at certain concentrations, while sulfuric acid is a liquid, and partly because oleum is less bulky. The industrial user then carefully heats the tank car using the steam conduits to melt the oleum, which is removed as a liquid.
  • Oleum is used in dyes, explosives, drugs, and other applications.

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Key Drivers of Market

  • Rise in usage of oleum owing to its increase in demand in end-use industries is expected to drive the market during the forecast period. It is majorly used as an intermediate for the production of sulfuric acid. As a highly important chemical compound, sulfuric acid is used in the manufacturing process of a number of well-known chemicals including hydrochloric acid, nitric acid, phosphoric acid, and many other industrial chemicals. Demand for oleum is expected to rise due to the growth in demand for sulfuric acid. This, in turn is expected to propel the oleum market during the forecast period.

Oleum Market: Application Segment

  • Based on application, the global oleum market can be segmented into sulfonating agent, dye, explosive, drug, and others.
  • The sulfonating agent segment is projected to account for significant share of the global oleum market during the forecast period. Oleum is used as a medium for the transportation of sulfuric acid.
  • The dye, explosive, and drug application segments are expected to expand at a steady pace and offer significant opportunities during the forecast period

Oleum Market: Covid-19 Impact

  • The COVID-19 pandemic has had a negative impact on the global economy. It has adversely affected various industrial sectors by hampering the supply chain. Purchase and consumption behavior have changed significantly across various sectors within months of consumer lockdown and closure of international supply chains and retail businesses. This has adversely impacted the global oleum market.
  • Disruption in the supply of sulfuric acid due to extended lockdown has also impacted the oleum market. Sulfuric acid is highly used in fertilizers, automotive, metal processing, and chemical industries.

Asia Pacific to be Major Region of Global Oleum Market

  • In terms of region, the global oleum market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In North America, the U.S. is focused on promotion of investments in its end-use industries. This is estimated to boost the oleum market in the country.
  • In terms of demand, Asia Pacific held major share of the market in 2019. It was followed by North America and Europe. Asia Pacific is a highly lucrative region of the global oleum market. This trend is expected to continue in the next few years. The oleum market in Asia Pacific is driven by expansion of the cleaning detergents & cleaning industry and strong economic growth in the region.
  • The market in Latin America and Middle East & Africa is estimated to expand at a moderate pace during the forecast period. End-use industries in Mexico have been expanding at a steady pace. The market in the UAE is also expanding at a significant pace. This is projected to drive the demand for oleum in Latin America and Middle East & Africa, respectively, during the forecast period.

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Global Oleum Market: Research Scope

Key Manufacturers Operating in Market

The global oleum market was highly fragmented in 2019. Key manufacturers operating in the global oleum market include:

  • Kiri Industries Limited (KIL)
  • Panoli Intermediates India Private Limited
  • Maruti Fine Chemicals
  • Amal Ltd
  • Bodal Chemicals Limited
  • Atul Ltd
  • Industrial Solvents & Chemicals Pvt. Ltd.

Global Oleum Market, by Product

  • Oleum 23%
  • Oleum 65%
  • Others

Global Oleum Market, by Application

  • Sulfonating Agent
  • Dye
  • Explosive
  • Drug
  • Others

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Oleum Market Global

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