LONDON--(BUSINESS WIRE)--The global naphthalene market is expected to post a CAGR of more than 2% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Naphthalene is widely used in the concrete industry to produce high-strength concrete. The use of naphthalene helps to reduce water consumption during concrete production and enhances the mechanical properties of concrete. Factors such as rapid urbanization, development of smart cities, and growing number of construction projects have increased the demand for concrete across the globe. These factors will fuel the growth of the global naphthalene market during the forecast period.
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As per Technavio, the increasing use of naphthalene to manufacture intermediates will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Naphthalene Market: Increasing use of Naphthalene in Manufacturing Intermediates
Over recent years, naphthalene is increasingly being used in the production of intermediaries such as naphthalene sulfonates, phthalic anhydride, alkylated naphthalene solvents, azo dyes, and others. These chemical intermediaries are used in the manufacture of various drugs such as naftifine, terbinafine, nafcillin, tolnaftate, and others. The increasing demand for these drugs will boost the growth of the global naphthalene market during the forecast period.
“The increasing focus on reducing carbon dioxide emissions during cement production and the rising demand for bio-based chemicals are some other factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Naphthalene Market: Segmentation Analysis
This market report segments the global naphthalene market by application (naphthalene sulfonates, phthalic anhydride, and others) and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018, followed by Europe, North America, MEA, and South America respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to the increase in residential and commercial construction activities in the region.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Customer Landscape
Geographical Segmentation
- Geographic comparison
- Key leading countries
- Market opportunity
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Landscape disruption
- Competitive scenario
Vendor Analysis
- Vendors covered
- Vendor classification
- Market positioning of vendors
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