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Global Naphthalene Sulfonate Market is Projected to Reach US$ 1,996 Mn by 2025

Author: QYResearch | Publish date: 2018-08-18 | Views: 28
New report published by QY Research which offers insights on the global Naphthalene Sulfonate market. The Naphthalene Sulfonate market has been experiencing steady growth graph since past years. During the 2017-2025 timeline, the global market for Naphthalene Sulfonate is expected to reflect a 1.3x increase in the revenue growth. In 2017 the global Naphthalene Sulfonate market was valued at US$ 1,489 Mn and by the end of the assessment year (2025), it is estimated to touch a value more than US$ 1,996 Mn growing at a value CAGR of 3.73% throughout the period of forecast.


Global Naphthalene Sulfonate Market: Market Driver and Restraint

The global naphthalene sulfonate market is anticipated to expand at a rapid pace during the forecast period driven by various factors such as increase in demand from building & construction and agriculture industries. Naphthalene sulfonate is used as a concrete additive in the building & construction industry, as it enhances the overall performance of concrete admixtures. Concrete admixtures that contain naphthalene sulfonate possess superior flow and quick curing time. Rapid urbanization in developing countries such as China and India is anticipated to boost the demand for concrete in these countries. This, in turn, is projected to drive the naphthalene sulfonate market during the forecast period.

Global Naphthalene Sulfonate Market: Key Takeaways

Availability of substitutes is expected to hamper the naphthalene sulfonate market during the forecast period. Several substitutes are available for naphthalene sulfonate. Major substitutes include melamine-formaldehyde condensates and polycarboxylate superplasticizer. Melamine-formaldehyde condensates offer superior performance as compared to naphthalene sulfonate. Melamine-formaldehyde condensates are available in large quantities. These chemicals offer good cost-to-performance ratio; therefore, these are highly preferred substitutes for naphthalene sulfonate. However, several concrete manufacturers are shifting toward polycarboxylate superplasticizer, which provides better performance than naphthalene sulfonate. It is slightly expensive than naphthalene sulfonate; however, it has better cost-to-performance ratio than naphthalene sulfonate-based superplasticizers. Hence, increase in competition from these substitutes is anticipated to hinder the global naphthalene sulfonate market in the near future.

Global Naphthalene Sulfonate Market: Forecast by Type

Naphthalene sulfonate is primarily used in the powder form, as it is easy to carry and store. It also dissolves quickly. In terms of value, the powder segment accounted for significant share of the global naphthalene sulfonate market in 2017 due to its superior cost-to-performance ratio. The powder form is used when high concentration is required. It offers better performance and is more expensive than the liquid form.

Global Naphthalene Sulfonate Market: Forecast by Application

Naphthalene sulfonate also plays a vital role in the agriculture industry, as it is used as a primary dispersing agent. It helps active ingredients dissolve in agricultural chemicals. This enables chemicals to spread, thereby resulting in better performance. Rise in population is expected to propel the agriculture industry in Asia Pacific, thus fueling the demand for agricultural chemicals. This, in turn, is anticipated to drive the naphthalene sulfonate market in the region during the forecast period.

Global Naphthalene Sulfonate Market: Forecast by Region

In terms of volume, Asia Pacific and Europe are leading regions of the naphthalene sulfonate market. In terms of value, the market in Asia Pacific is projected to expand at a substantial pace during the forecast period, followed by that in Latin America and Europe. In terms of market capitalization, Asia Pacific and Europe are expected to dominate the naphthalene sulfonate market during the forecast period. However, the market in Latin America is estimated to expand considerably due to the rise in demand from the building & construction industry and growth in the agriculture industry. Rise in demand for household cleaning products is increasing in the region. This, in turn, is driving the naphthalene sulfonate market in Latin America. In terms of country, the market in China, India, France, and Mexico is anticipated to expand at a significant pace during the forecast period due to the increase in demand from various end-use industries such as building & construction, agriculture, household cleaning, and textile.

Global Naphthalene Sulfonate Market: Key Players

Key players profiled in the naphthalene sulfonate market include Enaspol a.s., GCP Applied Technologies Inc., Kao Corporation, Giovanni Bozzetto S.p.A, Himadri Speciality Chemical Limited, Huntsman Corporation, Koppers Inc., Akzo Nobel N.V., Nease Co. LLC, MUHU (China) Construction Materials Company Limited, PCC SE, BASF SE, and Acar Kimya VE Tekstil Sanayi Ticaret Ltd Sti. Production capacity expansions, geographical expansion, and new product developments are strategies implemented by major players. For instance, in February 2016, Nease Co. LLC announced expansion of its manufacturing site in Harrison, Ohio (the U.S.), to cater to the needs of its expanding specialty chemical business. Additionally, in 2016, BASF SE launched a new brand called Master Builders Solutions. The launch of this new brand is intended to enable easy access to the company’s comprehensive portfolio of various specialty brands for the construction industry.

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