The high demand for naphthalene sulfonates in China will trigger the naphthalene market growth in the forthcoming years. The country accounts for over 63% of the global consumption of naphthalene and naphthalene sulfonates. These specialty chemicals are often added in concrete admixtures to reduce water consumption while improving the durability, workability, and strength of concrete. As a result, a rising number of construction activities in China will eventually boost the naphthalene sulfonates market demand during the forecast period. analysts have predicted that the naphthalene market will register a CAGR of more than 2% by 2023.
Growing polyvinyl chloride (PVC) market
One of the growth drivers of the global naphthalene market is the growing polyvinyl chloride (PVC) market. PVC, one of the most widely used plastics, is produced by the polymerization of vinyl chloride monomer. It is extensively used in range of construction applications as it is lightweight, strong, durable and versatile.
Availability of substitutes
One of the challenges in the growth of the global naphthalene market is the availability of substitutes. Naphthalene is increasingly replaced with essential oils, such as lavender, mint, and white camphor oils, for moth control. This will adversely affect the growth of the market during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the naphthalene market during 2019-2023, view our report.
The market appears to be moderately fragmented with the presence of several market players. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.