Introduction

Sulfolane is also called tetramethylene sulfone. Sulfolane is a man-made industrial solvent with good heat stability. Sulfolane is an organosulfur compound, formally a cyclic sulfone, with the formula (CH2)4SO2. Sulfolane is a colorless and transparent liquid that acts as a scrubbing agent. Sulfolane is a polar solvent and it is miscible in water. Sulfolane has flash point of approximately 165°C and autoignition temperature of 528°C. The CAS number of sulfolane is 126-33-0. Sulfolane is extensively used as a solvent in the purification of hydrocarbon mixtures. Sulfolane is commonly employed as an industrial solvent, specifically in the extraction of aromatic hydrocarbons from hydrocarbon mixtures and in the purification of natural gas. The sulfinol process purifies natural gas by removing inhibitors such as hydrogen sulfide, carbon dioxide, and mercaptans from natural gas by using a mixture of alkanolamine and sulfolane.

Global Sulfolane Market: Segmentation

The global sulfolane market can be segmented based on type, application, and region. In terms of type, the market can be classified into anhydrous sulfolane and aqueous sulfolane. The aqueous sulfolane segment is projected to expand at a rapid pace during the forecast period. Aqueous sulfolane is mostly employed in gas desulfurization, as a pharmaceutical intermediate, and in the extraction of aromatic compounds. This is a key factor likely to drive the demand for sulfolane during the forecast period.

In terms of application, the sulfolane market can be classified into oil & gas purification, fine chemicals, and others. The oil & gas purification segment is projected to expand at a rapid pace during the forecast period. Depleting non-renewable sources and increasing adoption of bio-fuels are estimated to drive the demand for aromatics extraction and gas desulfurization in the next few years. This is expected to boost the sulfolane market in the oil & gas purification segment during the forecast period. Sulfolane is used as an intermediate and encapsulate in generic medicines. Increasing demand for pharmaceuticals is likely to propel the demand for sulfolane during the forecast period.

Global Sulfolane Market: Regional Outlook

In terms of region, the global sulfolane market can be segmented into Asia Pacific, Europe, Latin America, North America, and Middle East & Africa. Middle East & Africa is expected to be remain the leading region of the global sulfolane market during the forecast period. Increasing demand for automobiles is likely to augment the demand for oil and gas. A majority of resources of natural oil and gas are located in countries such as Saudi Arabia, Iran, Iraq, and Kuwait. This is anticipated to drive the demand for sulfolane in Middle East & Africa during the forecast period. The sulfolane market in South Africa is expected to expand at a sluggish pace compared to that in other countries of Middle East & Africa, due to poor growth of the economy and lack of technological advancements in the country. In pharmaceutical segment, the sulfolane market in North America is expected to be high compared to the other countries due to increasing consciousness about health in the region.

Global Sulfolane Market: Key Players

The global sulfolane market is fragmented. A large number of companies operate at the global and regional levels. Major companies operating in the market are Shell Oil Company, Chevron Phillips Chemical Company, Sumitomo Seika Chemical, New Japan Chemical, CASIL Industries, Liaoyang Guanghua Chemical, Liaodong Fine Chemical, Jinzhou Petrochemical Corporation, and Changle Haizhou Chemical. Sulfolane was originally developed by Shell Oil Company in the 1960s as a solvent to purify butadiene. Most companies are likely to invest in R&D activities to develop innovative products and gain traction among consumers.

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.

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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.

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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?

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TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

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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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Sulfolane Market