iCrowdNewswire Jan 14, 2021 2:30 PM ET
Naphthalene Sulfonate Market – Market Overview
Naphthalene sulfonate are derivatives of sulfonic acid containing a naphthalene functional unit. They are primarily used to increase the viscosity or plasticity of a material. In addition to this, these derivatives are widely used as plasticizer and dispersants. It facilitates and improves concrete mixture by dispersing cement particles and enables the rapid mixing of concrete, which makes the product applicable in building & construction sector. Furthermore, it is used as a plasticizer, surfactant and wetting agent in major end use industries such as agriculture, building & construction, household cleaning, and textile among others. The textile sector employs naphthalene sulfonate in the process of dyeing.
Rising demand from the rapidly growing construction sector is projected to drive growth the market over the forecast period. Moreover, increasing government focus and on development of physical infrastructure along with housing development is anticipated to fuel market growth during the years to follow. Growing use of naphthalene sulfonate as a dispersing agent in agriculture sector is anticipated to favour rising demand of the product. However, dependence of this industry upon the crude oil may hamper the market with fluctuating raw material prices. Furthermore, slight toxic nature may act as a minor restraint to the global naphthalene sulfonate market.
Regionally, Asia Pacific region is growing at the highest CAGR, among other regions in the market, during the forecast period owing to the rapidly growing end use industries such as building & construction and agriculture among others. The leading markets in this region are China, India, Japan, and Malaysia, wherein the product is witnessing significant rise in demand on the backdrop of large scale residential, commercial, and industrial construction projects. Moreover, ease of availability of raw material, cheap labor cost, and increasing development strategies to fulfil the demand for naphthalene sulfonate in the growing applications are the important factors for the regional market growth.
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BASF SE (Germany), GCP Applied Technologies Inc. (U.S), Huntsman International LLC (U.S), Himadri Speciality Chemical Ltd (India), AkzoNobel NV (Netherlands), Giovanni Bozzetto S.p.A (Italy), Koppers Inc. (U.S.) are some of the prominent players at the forefront of competition in the Global Naphthalene Sulfonate Market and are profiled in MRFR Analysis.
Naphthalene Sulfonate Market- Competitive Landscape
The global naphthalene sulfonate is in early stage of its growth. Some leading players in this market having strong research and development base have filled patents and continuing invention. This is going to have remarkable impact in near future as the major consumers of the product demonstrating significant growth. The major players in this market are not concentrated in a particular region, rather they are spread in North America, Asia Pacific, and Europe. Taking into account these forecasts, the global naphthalene sulfonate market is likely to witness considerable competition over the forecast period of 2017-2023.
Industry/ Innovation/ Related News:
There are no significant development happened in this market in recent years as the product is still finding its way into numerous applications.
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