The market for naphthalene is expected to register a CAGR of over 3% during the forecast period. One of the key factors driving the market is the growing use of NSF (Naphthalene Sulfonate Formaldehyde) in concrete admixtures. However, the stringent regulations regarding VOC emissions are likely to restrain the market during the forecast period.
- The increasing application in the textile industry is also likely to boost the demand for naphthalene during the forecast period.
- New applications in the construction sector is likely to provide an opportunity for market growth in the future.
- Asia-Pacific is likely to dominate the market during the forecast period.
Key Market Trends
Naphthalene Sulfonates to be the Major Application
- One of the major applications of naphthalene is in the preparation of naphthalene sulfonates which have a variety of applications, owing to their wetting and dispersing properties.
- They are used in the production of surfactants that are used in a variety of personal care products.
- Naphthalene sulfonates are used in preparation of naphthalene sulphonated formaldehyde (NSF) which is used in polymer-concrete admixtures to neutralize the surface charge on cement particles in enhancing water tied up in the cement agglomerations, and thereafter, in reducing the viscosity of the paste and concrete.
- China is one of the largest markets for naphthalene sulfonates whereas Europe has shown significant growth in the demand for naphthalene sulfonates.
- Overall, naphthalene sulfonate is likely to continue dominating the market during the forecast period.
Asia-Pacific to Dominate the Market
- Asia-Pacific dominated the naphthalene market in 2018, owing to the high demand from countries like China and India.
- The growing construction and agriculture industries of the Asian countries like China and India are some of the crucial factors that are driving the market growth in the region.
- The approval of large construction projects, especially in India, China, and Japan is expected to drive the market for naphthalene in the region.
- The construction industry of the ASEAN countries is also growing at a significant rate, owing to increasing investments by both the public and private sectors.
- Hence, Asia-Pacific is likely to continue dominating the market during the forecast period owing to the aforementioned reasons.
The market for naphthalene is moderately consolidated. Some of the key players of the market include CarbonTech Group, Rain Carbon Inc., JFE Chemical Corporation, Exxon Mobil Corporation, and Epsilon Carbon, among others.
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