Naphthalene Sulfonate Market Size, Scope, Forecast to 2029 | Key Players - Giovanni Bozzetto S.p.A, AkzoNobel NV, BASF SE, GCP Applied Technologies Inc
Naphthalene sulfonates are derivatives of sulfonic acid and used as plasticizers or dispersants to increase the thickness of plastics. The scope in the construction industry to raise the dispersant level of concrete mixtures will bode well for the chemical. The global naphthalene sulfonate market report by Market Research Future (MRFR) highlights pertinent drivers, challenges, trends, and opportunities for the period of 2019 to 2024 (forecast period).
Market Scope
The global naphthalene sulfonate market is projected to experience a modest growth rate during the forecast period owing to applications in textiles, household cleaning, agriculture, building & construction, and agriculture. The resurgence of the construction industry and investments into the sector will drive the demand for the chemical. The expansion of agriculture and household cleaning sectors can fuel the market growth exponentially. Concerns of pollutant levels have led to the development of sustainable sulfonates with low toxicity.
The toxic nature of the chemical may be a deterrent for the global naphthalene sulfonate market growth.
Competition Outlook
Koppers Inc., Huntsman International LLC, Giovanni Bozzetto S.p.A, AkzoNobel NV, BASF SE, GCP Applied Technologies Inc., Himadri Speciality Chemical Ltd, and others are prominent names in the global naphthalene sulphonate market. The focus of manufacturers to launch various grades of the chemical for various applications is the main strategy to survive in the market.
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Segmentation
The global naphthalene sulfonate market is segmented on the basis of form, application, and end use industries. Based on the form, the market is divided into liquid and powder. On the basis of application, the market is segmented into plasticizer, dispersant & wetting agent, surfactant, and others.
On the basis of end use industries, the market is categorized into building & construction, household cleaning, agriculture, textile, and others. The textile segment is predicted to induce heavy demand from the market owing to the production of dyes and pigments. On the other hand, the building & construction segment can command a heavy demand share owing to the need for water-reducing mixtures and formulations for faster application.
Regional Analysis
On the basis of regions, the market is segmented into Asia Pacific (APAC), Europe, Latin America, North America, and the Middle East & Africa (MEA).
The APAC region is touted to display the highest CAGR in the global naphthalene sulfonate market owing to the expansion of agriculture and building & construction sectors. Approval of large scale commercial and residential infrastructural projects in India, China, Malaysia, and Japan is expected to fuel regional market demand. Development plants, abundance of raw material, and a cost-economical workforce are other drivers of the region.
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North America can display a modest growth rate over the assessment period due to efforts to revitalize the textile sector and revival of other industries. Mexico, Canada, and the U.S. are major growth generators of the region.
The MEA naphthalene sulphonate market can grow at a steady pace during the forecast period owing to investments in residential and construction sectors in Saudi Arabia, Qatar, and United Arab Emirates (UAE). The relaxation of import duties on textiles and apparel can bode well for the regional market growth. Trade agreements between Israel and countries in Europe and North America can have a positive influence on the market.
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