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.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Market opportunity
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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