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Oleum Price Trend and Forecast
Oleum Price Trend and Forecast
Oleum Regional Price Overview
Get the latest insights on price movement and trend analysis of Oleum in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Oleum Price Trend for the Q1 of 2024
Asia
During the first quarter of 2024, the oleum market in Asia experienced a mixed price trajectory. In China, prices initially displayed a bearish trend, declining notably from January to February due to overwhelming inventories and steady, casual downstream demand. However, this trend quickly reversed, with prices escalating from February to March, driven by improved market conditions.
Oleum Price Chart
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In India, the oleum market saw significant growth, with prices increasing steadily throughout the quarter, influenced by a rise in crude oil and energy costs, alongside positive responses from downstream consumption sectors.
Europe
In Europe, the oleum market was heavily influenced by trends in Asia. Prices began the quarter on a downward trend, impacted by swollen inventories and muted industrial demand following the holiday season. As the quarter progressed, the gap between supply and demand narrowed, leading to a stabilization of prices. The European market thus exhibited a varying price trajectory throughout the first quarter.
North America
In North America, the oleum market performed relatively better compared to other global regions. Prices in this market were on the rise from the very beginning of the quarter, supported by strong downstream demand and low inventory levels. Although the price increases were marginal, the overall market sentiment remained positive, with a buoyant trend emerging in the latter part of the quarter. This positive performance was underpinned by supportive downstream demand and better inventory management, contributing to the upward price movement observed during the period.
Analyst Insight
According to Procurement Resource, the price trend of Oleum is expected to depreciate further with the loss of demand from the downstream industries and rising uncertainties in its feedstock sector.
Procurement Resource provides latest prices of Oleum. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
About Oleum
Oleum, also known as fuming sulfuric acid, is a solution of sulfur trioxide in sulfuric acid having a colorless to slightly yellow, oily liquid that emits dense, white fumes upon exposure to air. Highly corrosive and reactive, oleum is known for its strong dehydrating and sulfonating properties. It is a crucial intermediate in sulfuric acid production, used for manufacturing chemicals, dyes, detergents, and pharmaceuticals, and plays a vital role in the nitration processes for explosives and petroleum refining. Oleum's industrial significance stems from its ability to facilitate various chemical reactions, though its handling requires stringent safety measures due to its highly corrosive and toxic nature.
Oleum Product Details
| Report Features | Details |
| Product Name | Oleum |
| Chemical Formula | H2S2O7 |
| Industrial Uses | Sulfuric Acid Production, Chemical Synthesis, Petroleum Refining, Metal Processing |
| Molecular Weight | 178.13 g/mol |
| CAS No. | 8014-95-7 |
| HS Code | 28070020 |
| Supplier Database | The Dow Chemical Company, Eastman Chemical Company, ExxonMobil Corporation, Honeywell International Inc, Huntsman Corporation, INEOS Group Limited, Mitsubishi Chemical Corporation |
| Region/Countries Covered | Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece North America: United States and Canada Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru Africa: South Africa, Nigeria, Egypt, Algeria, Morocco |
| Currency | US$ (Data can also be provided in local currency) |
| Supplier Database Availability | Yes |
| Customization Scope | The report can be customized as per the requirements of the customer |
| Post-Sale Analyst Support | 360-degree analyst support after report delivery |
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Oleum Production Process
- Production Process by Contact Process: In the first step of this multi-process synthesis, the oxidation of sulfur is carried out to produce sulfur dioxide. This is then again treated with oxygen in the presence of vanadium pentoxide-like catalyst, which gives sulfur trioxide as an intermediate. In the final step, sulfur trioxide is treated with sulfuric acid to obtain oleum as the end product.
Methodology
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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