Naphthalene Derivatives Market Global Forecast To 2021
The global naphthalene derivatives market is projected to reach USD 833.0 Million by 2021, at a CAGR of 3.63%. It is projected to reach 739.01 KT, at a CAGR of 2.80% from 2016 to 2021 by volume. A rapidly growing textile sector in the Asia-Pacific region and the increasing use of naphthalene-formaldehyde condensates in the construction market are the key factors driving the global naphthalene derivative market.
The powdered form of naphthalene derivatives was the largest form in 2015 due to the ease of packaging and transportation in comparison to the liquid form. The liquid form on the other hand, is less preferred by suppliers and distributers of naphtha derivative in comparison to the powdered form as its shipment is difficult and complex. But naphthalene derivatives such as naphthalene-formaldehyde condensates (SNF) are majorly manufactured in the liquid form.
SNF is the largest segment in the global naphthalene derivative market owing to its ability to act as an excellent dispersing agent and improve the consistency of concrete admixtures at a comparatively low price. The other types of naphthalene derivative, such as, naphthalene sulfonic acids, alkyl naphtha salts and naphthols are used as precursors for the synthesis of dyes, pigments and surfactants in textile, detergents and paints & coatings.
The construction sector is estimated to be the largest as well as the fastest-growing application of naphthalene derivatives. Growing building and infrastructure activities across the globe are leading to a rise in the demand for high quality concrete. Naphthalene derivative are used as superplasticizers in the construction industry to enhance the durability of concrete.
The Asia-Pacific region led the global naphthalene derivatives market, both in terms of value and volume, in 2015. China is the largest market for naphtha derivative in the Asia-Pacific region, and accounted for a major share of the market in terms of value, in 2015. The growing construction sector, increasing R&D activities initiated by major players, the ease of availability of raw material, and increasing development strategies to meet the demand for naphthalene derivative in the established and emerging applications are the key drivers for naphtha derivatives in this region.
Naphthalene Derivatives Market
Although the global naphtha derivatives market is growing rapidly, a few factors restrain growth. High level of toxicity of naphthalene derivative, and declining crude oil prices impact the prices of naphthalene derivatives globally
Companies such as RUTGERS Group (Belgium), Koppers Inc. (U.S.), BASF SE (Germany), Arkema Group (France), and Clariant (Switzerland) lead the global naphtha derivative market. The diverse product portfolios, strategically positioned R&D centers, adoption of development strategies, and technological advancements are some of the factors that strengthen the market positions of these companies in the global naphtha derivatives market. They have been adopting various organic and inorganic growth strategies to enhance their shares in the global naphthalene derivatives market.