Sulphonated Naphthalene Formaldehyde Market Forecast and CAGR
As per a recent research study, demand of sulphonated naphthalene formaldehyde is projected to grow with a CAGR of 4% to 5.0% over the course of the forecast period 2021 to 2031. The compound is significantly used as water reducing agent and is also called as a superplasticizer.
With the rebound of economic activities and construction sector across the globe post the pandemic situation, demand for sulphonated naphthalene formaldehyde is anticipated to witness a substantial growth over the next few years.
What is the Driving Demand for Sulphonated Naphthalene Formaldehyde?
The condensate polymer is significantly used as a water reducing agent in various types of concrete, mortar and cement. Growth in the construction sector is expected to boost the demand in the coming years. Further the growing infrastructure especially in the emerging economies is also projected to bolster the growth rate.
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Increase in the demand of cotton in the textile industry is also anticipated to benefit the consumption rate over the forecast period as the compound is used as a wetting agent in cotton. Growing leather industry is expected to boost the demand as the compound is used dying aid and as dispersing agent in tanning.
Construction industry is expected to boost the demand of Sulphonated Naphthalene Formaldehyde
Growing construction of various buildings including residential, commercial, industrial, institutional, and other are anticipated benefit the sales in the coming years. Enhancement in the infrastructure sector all over the globe is also expected to add on the growth for the compound due to its application in the production of several types of concrete.
Sulphonated naphthalene formaldehyde keeps minimum water to cement ratio without impact the degree of implementability of the cement. Increase in the demand for cement for manufacturing of several types of construction materials such as, concrete admixture, ready-mix concrete, pre-cast concrete, reinforcement materials and others are expected to boost the consumption rate.
Moreover, increasing demand for high quality concrete in the construction sector is bolstering the growth of the market.
U.S. and Canada Sulphonated Naphthalene Formaldehyde Consumption Outlook
Strong development in the infrastructure sector in the United States of America and Canada have boosted the sales of consumables required in construction sector. Significant demand for construction materials for construction of buildings and infrastructural development has also increase the consumption in both the countries.
With a fair share of construction sectors’ contribution to GDP, in U.S. demand outlook of sulphonated naphthalene formaldehyde is estimated to remain significant over the forecast period.
Further growth in the textile industry, leather industry and oil & gas industry in both the countries has bolstered the growth of the industry. Significant production rate of cement and several types of concrete in USA has also enhance the sales in North America region.
Moreover, the growing requirement for sustainable development by decreasing carbon footprint is also projected to increase the demand for the product as it enhance the properties of concrete which will minimize renovation cost and overall consumption of concrete materials.
Asia Pacific Industry Outlook for Sulphonated Naphthalene Formaldehyde
Significantly growing demand for cement and concrete manufacturing in Asia Pacific region is expected to benefit the consumption over the coming decade. Substantially growing construction and infrastructure sector is anticipated to result in the enormous consumption of concrete and other construction materials in the coming years.
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Further, the presence of various manufacturers of sulphonated naphthalene formaldehyde has helped fulfill the massive demand in the region, and that too at an efficient price. With a key share of global concrete consumption in China, the country is estimated to contribute significantly in the growth of the market in Asia Pacific region.
Significantly growing end use industries in India, ASEAN and other countries in Asia Pacific region has also boost the sales volume.
Who are the Key Manufacturers and Suppliers of Sulphonated Naphthalene Formaldehyde?
Some of the key manufacturers and suppliers of sulphonated naphthalene formaldehyde are
- Methanol Chemical Company
- Himadri Speciality Chemical Ltd.
- Mangalore Chemicals & Fertilizers Limited
- Sure Chemical Co. Ltd.
- Shijiazhuang
- Kao Corporation
- Chemsons Industrial Corporation
- Muhu Construction materials Co. Ltd.
- Wuhan Xinyingda Chemicals Co. Ltd.
- Shandong Wanshan Chemical Co. Ltd.
- Siripanit Industry Co. Ltd.
- Many others.
Key players are focusing on meeting the demand of end users especially for construction sector. They are focusing on product development to enhance the properties of the compound for its various applications. Several manufacturers are focusing on increasing their production capacities to enhance their market presence and to increase their annual turnover.
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