Vinyl Sulfone Market To Generate $2,711.2 Million Revenue by 2030
- Published: June 2023
The global vinyl sulfone market size is expected to advance at a CAGR of 3.1% during 2022–2030, to reach USD 2,711.2 million by 2030. This can be because this chemical is widely used in the production of reactive dyes, which are broadly adopted in the textile industry, and it is also used in the production of pesticides, which are utilized in agriculture fields and home gardening. Moreover, the changing perception of consumers toward apparel is boosting the demand for reactive dyes in the textile industry.
Vinyl Sulfone Ester Holds the Largest Revenue Share
Based on type, the vinyl sulfone ester category accounted for the largest revenue share in 2022, and it is also projected to retain its position over the next few years. This is because this chemical is widely used in the manufacturing of reactive dyes and different types of colors, for different applications in industries, such as textile, wood, leather, and paper.
Additionally, vinyl sulfone ester is a monomer that can be polymerized and transformed into top-quality synthetic fibers. It is also adopted as an initial-stage material for several chemical compounds and is utilized for the production of several chemicals such as resin modifiers, stabilizing agents, and plasticizers.
Furthermore, vinyl sulfone ester is of three types. The first is a para base ester, which is used for modifying rubber compounds, and the others are OA base and para cresidine base, both are colorless liquids and are used as corrosion resistant and lubricants.
European Market To Witness a Significant Growth Rate
The European market is expected to grow at a significant growth rate in the coming years. This can be because the region has a great presence in the clothes industry across the world, the presence of some of the famous and large apparel companies, and the rising sales of online clothes in Europe. For instance, more than 80% of people in the region are surfing the internet and almost 50% of them are buying clothes online. In addition, the demand for organic dyes for apparel is extensively rising, which creates a high need for vinyl sulfone in the region.
Moreover, the key European markets for apparel include France, Germany, Spain, Italy, the Netherlands, and Poland. Together these nations make up approximately 73% of all European Union apparel imports across the globe and around 67% of all intra-EU imports. Thus, this factor drives the regional market growth.
Some of the major players operating in the vinyl sulfone market are Bodal Chemicals Ltd., Kiri Industries Ltd., Shree Pushkar Chemicals and Fertilizers Ltd., Bhageria Industries Limited, Atul Ltd., Ambuja Intermediates Pvt. Ltd., AksharChem, Hangzhou Trylead Chemical Technology, and Betanzam Chemicals Private Limited.