Naphthalene Sulfonate Global Market – Overview
Naphthalene Sulfonate, a class of derivatives of Sulfonic Acid, containing a naphthalene functional unit. It increases the viscosity and plasticity of material and hence, is widely used as a plasticizer and a dispersant in concrete mixture to enable the rapid mixing of concrete and thus finds extensive application scope in building & construction space. Simultaneously, it is also used as a plasticizer, surfactant and wetting agent in end-use industries such as household cleaning, textile, and agriculture, among others. Naphthalene Sulfonate plays a significant role in the dying process in the textile industry.
Due to its benefiting properties, Naphthalene Sulfonate always perceives augmented demand from some of the burgeoning sectors such as building & construction, agriculture, and textiles. Growing population coupled with the increasing urbanization worldwide is presaging the surging demand for the three basic necessities of humans – Food, Shelter & clothing. This, further presages the increased demand for Naphthalene Sulfonate in these sectors, defining its market growth on the global platform in the years to come.
Acknowledging the kind of traction gained by this market, Market Research Future (MRFR) recently published a study report. In its analysis, MRFR asserts that the Global Naphthalene Sulfonate Market, gaining further accruals will register an exponential growth record during the forecast period (2017 – 2023). The recent increase in the consumption of Naphthalene Sulfonate in the textile industry for the production of colorful dyes and pigments has proven to be a landmark for the market growth.
Increasing investments transpired into R&D activities by the market players are paying off well, bringing about more innovations & betterment in the products. This, in turn, helps to foster the market growth to an extent. Initiatives taken by the government bodies for infrastructural development and increased emphasis on quality is positively influencing the market growth, especially in the developing regions.
On the other hand, volatility of prices & supply of feedstock hampers the growth of Naphthalene Sulfonate market to a great deal. While the increasing interest from government & Private sectors and investment funding for the development of the product along with the related technology is creating a larger revenue pocket in the market. Also, the slightly toxic nature of this product encourages stringent regulations by the governments for its restricted use which is likely to inhibit the market growth during the forecast period.
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Naphthalene Sulfonate Market Competitive Analysis
The Market of Naphthalene Sulfonate appears to be highly competitive and fragmented. With increasing industrialization and up-gradation, manufacturers are setting up facilities to meet the demand for Naphthalene Sulfonate in the most efficient manner. High investments transpired into R&D are anticipated to impact the market positively. Key Players strive to inculcate latest technical innovations in their procedure to increase the production and reduce the harmful factors. This industry is exclusively dependent upon the crude oil as a feedstock, hence volatility in the prices is the primary concern governing revenues for market players.
Naphthalene Sulfonate Market – Segmentations
The analysis is segmented into four key dynamics; for the convenience of the report and enhanced understanding:-
By Forms: Comprises Liquid and Powder.
By Applications: Plasticizer, Dispersant & Wetting Agent, and Surfactant, among others.
By End-Use Industries: Building & Construction, Agriculture, Household Cleaning, and Textiles among others.
By Regions: North America, Europe, APAC and Rest of the World.
Naphthalene Sulfonate Market – Regional Analysis
Globally, the Asia Pacific region accounts for the leading market for the Naphthalene Sulfonate, holding the largest market share. Factors such as ease of availability of raw material, low-cost labor, and increasing development strategies, fulfilling the demand for the product, drive the regional market growth. Attributing to some of the burgeoning sectors in the region, such as building & construction and agriculture among others, the region is estimated to retain its dominance in the global market during the assessment period.
Moreover, expected to upsurge in the years to come, the demand for Naphthalene Sulfonate, backed by the large-scale residential, commercial, and industrial construction projects ongoing in the developing countries such as India, China, Japan, and Malaysia, will propel the growth of the regional market.
North America market stands the second largest market for Naphthalene Sulfonate, globally, accounting for a substantial market share. Owing to the resurging industrial sector and rising investments transpired to revitalize the textile industry, in some of the North American countries such as the US, Mexico, and Canada, the regional market is estimated to see significant growth during the review period.
Brazil and Colombia, countries in Latin America are also anticipated to perceive a moderate growth with the involvement of new business models.
The Europe region is expected to account for the substantial growth in the global market for Naphthalene Sulfonate. Owing to the well-established end-use industries and rising expenditures on R&D and innovation in the countries like France, Germany, Italy, and the UK, the region is expected to witness a phenomenal growth during the assessment period.
Owing to the significant investments transpired in the projects of the residential and commercial construction sector in Qatar, UAE and Saudi Arabia, the MEA (the Middle East & Africa) market for Naphthalene Sulfonate is expected to perceive a steady growth over the review period. While owing to the low import duties on textile and apparels, Israel market is expected to register a remarkable increase. Besides Israel has enabled the free trade agreement with the US & Europe region which facilitates better import and export opportunities especially for textile materials with the exemption of taxes. These factors foster the market growth of Naphthalene Sulfonate to a large scale, in turn, driving the regional market growth.
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