Naphthalene Derivatives Market Worth 1.85 Billion USD by 2022
PUNE, India, December 20, 2017 /PRNewswire/ --
According to a new market research report "Naphthalene Derivatives Market by Form (Powder, Liquid), Derivative (SNF, Phthalic Anhydride, Naphthalene Sulfonic Acid, Alkyl Naphthalene Sulfonates, Naphthols), End-Use Industry (Construction, Agrochemicals), and Region - Global Forecast to 2022" published by MarketsandMarkets™, the market is estimated to be USD 1.53 Billion in 2017 and projected to reach USD 1.85 Billion by 2022, at a CAGR of 3.8% between 2017 and 2022. The market is witnessing growth due to the increasing demand from the textile industry, especially in emerging countries of Asia Pacific. Increasing consumption of naphthalene-based superplasticizers in construction chemicals in developing countries is also an important factor driving the Naphthalene Derivatives Market.
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Browse 75 market data Tables and 35 Figures spread through 143 Pages and in-depth TOC on "Naphthalene Derivatives Market"
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Sulfonated Naphthalene Formaldehyde (SNF): The largest segment of the Naphthalene Derivatives Market, by derivative
SNF was the largest segment of the global Naphthalene Derivatives Market, by derivative in 2016, followed by phthalic anhydride. This segment holds the maximum market share due to the increasing use of SNF in construction and textile industries. Its consumption as superplasticizer and dispersing agent in concrete formulation due to its outstanding water reducing properties is also expected to drive its demand globally.
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Powder: The largest form of naphthalene derivatives
Powdered form was the largest segment of naphthalene derivatives, by form, in 2016. Powder form is easy to transport in comparison to liquid form. Naphthalene derivatives are toxic in nature and their spillage in liquid form can be hazardous. Therefore, the powder form of naphthalene derivatives is more preferred than liquid form which is responsible for its high market share.
Construction: The largest end-use industry of the Naphthalene Derivatives Market
Construction was the largest segment of the global Naphthalene Derivatives Market, by end-use industry, in 2016. The growth in building and infrastructure activities across the globe leads to a rise in the demand for high quality concrete. Naphthalene derivatives are used as superplasticizers in the construction industry to enhance the durability of concrete.
APAC: The largest Naphthalene Derivatives Market, by region
The APAC region was the largest market for naphthalene derivatives, in terms of both value and volume, in 2016. The large market size of the Asia Pacific region is due to the manufacturing facilities being shifted by large players from mature markets such as Europe and North America to Asia Pacific. China's slow economic growth in recent years and initiatives to decarbonize the economy to promote sustainable development is resulting in a reduction of coal production and subsequently affecting the market of naphthalene derivatives in the country. However, extensive consumption of naphthalene derivatives in major end-use industries such as construction, agrochemicals, textile, oil & gas, pulp & paper, pharmaceuticals, paints & coatings, and others is expected to drive its demand in future. Furthermore, abundant availability of raw materials and consumers as well as affordable labor is also attracting market players to establish their production facilities in the region.
Naphthalene derivatives manufacturers, such as Koppers (US), BASF (Germany), Rütgers (Belgium), Evonik (Germany), Cromogenia Units (Spain), King Industries, Inc. (US), Carbon Tech Group (Iran), JFE Chemical Corporation (Japan), Clariant (Switzerland), and Huntsman Corporation (US) are profiled in the report.
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