Global Vinyl Sulfone Market: Key Highlights
The global vinyl sulfone market was valued at ~US$ 1.7 Mn in 2018, and is anticipated to expand at a CAGR of ~4% from 2019 to 2027.
In the Asia Pacific region, the increasing demand for textile dyes, and policies that mandate the use of environment-friendly and low VOC products, have led to innovation in the textile dyes industry. The textile industry majorly uses reactive dyes, and vinyl sulfone is popularly employed in the manufacturing of reactive dyes. Increasing demand for textiles is expected to surge the growth of the global vinyl sulfone market.
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Key Drivers of Vinyl Sulfone Market
Vinyl sulfone is a cross-linker reagent used as a raw material for the manufacturing of reactive dyes having application mainly in textiles and leather. The global industry for reactive dyes is increasing due to expansion of the textile industry. In Asia Pacific, expansion of various industries, such as textiles, leather, paper, and wood, are the major drivers of the reactive dye industry.
Asia Pacific is major consumer of reactive dyes, globally, and India is a major player in the reactive dye industry. Increase in the demand from the textile industry in China, India, Taiwan, and South Korea, and rise in the consumption of dyes in Europe, are driving the reactive dye industry, in turn, propelling the global vinyl sulfone market.
Cleaner Production Methods of Vinyl Sulfone to Offer Attractive Opportunities
Manufacturers are adopting cleaner production methods of vinyl sulfone, wherein, negligible amounts of hydrochloric acid are released as effluents. The hydrochloric acid released in the process is sent to the hydrochloric acid scrubbing system, which helps decrease the emission of hydrochloric acid into the atmosphere. In this process, the use of caustic in caustic scrubbers for the neutralization of hydrochloric acid helps in decreasing the quantity of the effluent.
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Asia Pacific Dominates Global Vinyl Sulfone Market
Asia Pacific is projected to be a highly attractive market for vinyl sulfone during the forecast period. Asia Pacific constituted a dominant share of the global vinyl sulfone market in 2018. Increase in the demand for vinyl sulfone from the textile industry in China, India, Taiwan, and South Korea has made Asia Pacific the largest consumer of dyestuff across the globe. Thus, rise in the demand for dyestuff in Asia Pacific is boosting the vinyl sulfone market in the region.
The dyestuff manufacturing application segment is expanding at a considerable rate in Europe, owing to innovative dying techniques and rise in the demand for dyestuff in the region. The Europe vinyl sulfone market is expected to expand at a CAGR of ~3% during the forecast period.
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Vinyl Sulfone Ester Type Held Major Share of Global Vinyl Sulfone Market
Vinyl sulfone ester is expected to be a highly attractive segment in the global vinyl sulfone market during the forecast period. The segment held a major share of the market in 2018.
Vinyl sulfone ester is largely used in the manufacturing of reactive dyes. The growing reactive dye industry in countries such as India, China, Indonesia, and Japan is driving the vinyl sulfone ester segment.
Various forms of vinyl sulfone ester are used for imparting different colors to dyes; for instance, ortho anisidine vinyl sulfone is used to impart colors such as yellow, red, and brown.
Dyestuff Manufacturing to be Highly Attractive Application in Global Vinyl Sulfone Market
Dyestuff manufacturing is expected to be a highly attractive segment, accounting for a leading share of the global vinyl sulfone market during the forecast period.
The growth of the textile industry is likely to fuel the consumption of dyestuff, globally, in the near future. Thus, rise in the consumption of dyestuff is anticipated to boost the global market for vinyl sulfone during the forecast period.
The dye and dye intermediate industry is expected to expand from 1.19 MMT in 2016 to ~1.5 MMT in 2021, at a CAGR of ~4%.
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Leading Players Actively Engaged in Joint Ventures and R&D Activities
Key players operating in the global vinyl sulfone market include Kiri Industries Limited, Bodal Chemicals Ltd., Bhageria Industries Limited, AksharChemIndia, and Shree Pushkar Chemicals and Fertilizers Ltd.
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