The naphthalene sulfonate market is projected to grow robustly, rising from $0.85 billion in 2023 to $0.91 billion in 2024, reflecting a compound annual growth rate (CAGR) of 6.9%. This growth is fueled by the expanding construction sector, rapid urbanization, and the rising textile industry. The increasing demand for household cleaning products, greater use of surfactants, and applications in concrete admixtures are also driving this trend. The market is expected to reach $1.20 billion by 2028, with a CAGR of 7.0%. Factors contributing to this forecasted growth include a heightened need for dispersants, the growing use of pesticides and plasticizers, and the rise of personal care products, industrial detergents, and moth repellents. Key trends include advancements in household cleaning products, improved detergent and cleaning agent production processes, and the development of more efficient and eco-friendly products.
Major Driver In The Naphthalene Sulfonate Market
The expanding building and construction sector is set to drive the growth of the naphthalene sulfonate market. This sector involves the creation of residential, commercial, and industrial structures and is fueled by increasing population, urbanization, infrastructure needs, and renovation activities. Naphthalene sulfonate serves as a superplasticizer in concrete mixes, enhancing workability and strength. For example, a quarterly construction inquiry published in June 2023 by the Northern Ireland Statistics and Research Agency revealed a 6.5% increase in the overall construction industry from Q1 2022 to Q1 2023, with housing and infrastructure sectors growing by 11.1% and 3.7%, respectively. The growing construction industry is thus bolstering the naphthalene sulfonate market.
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Naphthalene Sulfonate Market Competitive Landscape
BASF SE, Thermo Fisher Scientific, Solvay S.A., Mitsui Chemicals Inc, Kao Corporation, Akzo Nobel N.V., Sika AG, Nouryon, GCP Applied Technologies Inc, Himadri Speciality Chemical Ltd, Mapei S.p.A., GEO Specialty Chemicals, Nease Co. LLC, TCI Chemicals (India) Pvt. Ltd., Bisley & Company, MUHU Construction Materials Company Limited, Alpha Chemical Corp, Hubei Aging Chemical Co. Ltd., Shandong Wanshan Chemical Co. Ltd., Vizag chemical, Yahska Polymer Pvt. Ltd.
Key Naphthalene Sulfonate Market Trend
In the naphthalene sulfonate market, companies are innovating with solutions like architectural powder coating to enhance market presence. Architectural powder coating involves applying a dry powder that, when cured, significantly improves the efficiency and durability of concrete structures, leveraging naphthalene sulfonate-based products. Akzo Nobel N.V. introduced Interpon D1036 Low-E in November 2023, a low-energy powder coating that cures at just 150 °C. This development reduces energy consumption by up to 20% compared to traditional coatings and is TGIC-free, offering a more environmentally friendly option.
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Naphthalene Sulfonate Market Segmentation
The naphthalene sulfonate market covered in this report is segmented –
1) By Product Type: Naphthalene Sulfonic Acid, Sodium Naphthalene Sulfonate, Calcium Naphthalene Sulfonate, Other Product Types
2) By Form: Liquid, Powder
3) By Application: Dispersant Agent, Concrete Admixture, Dye Intermediate, Wetting Agent, Emulsifier, Other Applications
4) By End-Use Industry: Construction, Textile, Agrochemicals, Ceramics, Plastics, Other End-User Industries
By Geography:The regions covered in the naphthalene sulfonate market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the naphthalene sulfonate market in 2023.
The Naphthalene Sulfonate Global Market Report 2024 furnishes information about the global naphthalene sulfonate market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
