The 300â€“450 TBN calcium, barium, and magnesium sulphonates market revenue is predicted to rise from $73.5 million in 2019 to $231.2 million by 2030. According to the estimates of the market research company, P&S Intelligence, the market will demonstrate a CAGR of 10.9% from 2020 to 2030 (forecast period). The market is being driven by the surging use of these chemicals, owing to their eco-friendliness and various beneficial traits of greases based on calcium sulphonates.
Moreover, calcium sulphonate-based greases provide various advantages, such as extreme pressure-resistance, anti-wear advantages, better water resistance, mechanical stability, and adequate corrosion resistance, which make them ideal for use as a thickener in greases, majorly in applications where high performance is required. In addition, the falling purchase cost of calcium sulphonate, on account of the rapid technological advancements in the production process, is pushing up its popularity among end users, such as steel, paper machinery, and mining industries.
Depending on type, the 300â€“450 TBN calcium, barium, and magnesium sulphonates market is divided into calcium sulphonate, barium sulphonate, and magnesium sulphonate categories. Out of these, the calcium sulphonate category is predicted to demonstrate the fastest growth in the market in the coming years. This is credited to the fact that this salt is used in large amounts in marine, steel, automotive, and food processing industries because of its appreciable hydrophobicity and high stability in extreme pressure.
When end use is taken into consideration, the market is categorized into automotive, marine, machinery, and industrial. Out of these, the automotive category contributed the highest revenue to the market in 2019, owing to the fact that lubricants and greases containing the sulphonates of calcium, barium, and magnesium are extensively used in chassis, universal joints, ball joints, wheel bearings, suspension parts, rolling bearings, electronic power steering, and mirror gears. Additionally, the increasing need to minimize the environmental damage, particularly in developing nations, such as the U.S. and Canada, is propelling the demand for environment-friendly metallic sulphonates.
Geographically, the Asia-Pacific (APAC) region is expected to dominate the 300â€“450 TBN calcium, barium, and magnesium sulphonates market in the years to come. This will be because of the growing requirement for passenger cars and commercial vehicles. The integration of turbocharged direct-injection engines in passenger cars is driving the requirement for greases and lubricants with stronger additives, such as calcium sulphonates. The players operating in the industry are focusing on acquisitions in order to expand their product portfolio and geographical reach to gain a competitive edge.
For example, FUCHS PETROLUB SE completed the acquisition of Nye Lubricants Inc., which is a producer of specialty synthetic lubricants, in February 2020. The acquisition was done so that FUCHS could add new products to its portfolio of specialty lubricants, which would help the company cater to the requirements in various critical and high-end applications. Eni SpA, Daubert Chemical Company Inc., Afton Chemical Corporation, Eastern Petroleum Private Limited, Lockhart Chemical Company, MORESCO Corporation, King Industries Inc., and Jinzhou Kangtai Lubricant Additives Co. Ltd. are some of the major companies operating in the 300â€“450 TBN calcium, barium, and magnesium sulphonates market.
Thus, the demand for 300â€“450 TBN calcium, barium, and magnesium sulphonates will shoot up all over the world in the forthcoming years, mainly because of their ballooning popularity owing to their eco-friendliness.