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%
Global Oleum Market, by Application
- Sulfonating Agent
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The following regional segments are covered comprehensively:
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