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Sulphonated Naphthalene Formaldehyde (Snf) Market size is estimated to cross USD 4.4 Billion by the end of 2035, witnessing around 5% CAGR during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of sulphonated naphthalene formaldehyde (SNF) was USD 2.3 Billion. The growth of the market can be attributed to the Increasing application of sulphonated naphthalene formaldehyde as a concrete additive in the construction industry. It is widely used in the creation of free-flowing, pumpable concrete blends. It is widely used in the building business. In the building industry, sulfonate naphthalene formaldehyde can be employed as a raw ingredient for anti-freezing intermediaries, compound catalysts, and retarders.
Also, a rise in the chemical industry is expected to propel the sulphonated naphthalene formaldehyde market. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, the Chemical industry in the U.S. accounted for 16.43% of manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in the future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030.
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~5% |
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Base Year Market Size (2022) |
~ USD 2.3 Billion |
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Forecast Year Market Size (2035) |
~ USD 4.4 Billion |
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Regional Scope |
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Growth Drivers
Challenges
Application (Water Reducing Agent, Wetting Agent, Dispersing Agent, Super Plasticizer)
The global sulphonated naphthalene formaldehyde (SNF) market is segmented and analyzed for demand and supply by application into water reducing agent, wetting agent, dispersing agent, super plasticizer, and others. Out of these, the water reducing agent segment is estimated to gain the largest market share of about ~35% in the year 2035. It has extensive water reduction characteristics and is used to minimize water consumption by 12-25% while maintaining workability, resulting in powerful concrete and lesser permeability. appropriate for moderate or high-strength concrete where a wide range of water lessening is sought. As a result, the Water Reducing Agent segment is expected to have the largest market share over the projection period.
Type (Powder, Liquid)
The global market is also segmented and analyzed for demand and supply by type into powder, and liquid. Amongst these segments, the powder segment is expected to garner a significant share of around ~65% in the year 2035. As a result of its higher cost-to-performance, the powder segment commands a substantial market proportion. This is utilized in extremely high quantities. It performs better but is more costly than liquid form. Due to its expanding demand in agriculture, plastic, and other industries, as well as its use in the construction industry, SNF powder is in substantial demand and is an important contributor to the expansion of the market in focus. Construction output is anticipated to increase by 85% to $15.5 trillion globally by 2030, with three nations - China, the United States, and India - leading in the industry and accounting for 57% of total global growth. As a result, massive development in the construction industry is projected to contribute to segmentation growth in the next decades.
Our in-depth analysis of the global market includes the following segments:
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By Type |
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By Application |
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By End-Use Industry |
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APAC Market Statistics
The market in the Asia Pacific region is estimated to hold the largest market share over the forecast period, on the back of the growing construction industry in China, and other developing countries. For instance, the construction industry in China amounted to USD 1,050 billion in 2020. Moreover, the growing demand for houses and workplaces, backed by the rising population in the countries, including, India, China, and Japan, is projected to boost the market growth. As a result of a growing number of multinational contractors, the Indian government permitted and simplified its foreign direct investment (FDI) policy in the construction industry, which is improving the industry's profitability. After the service field, the construction industry in India receives the second-highest investment of FDI. Furthermore, the Pradhan Mantri Awas Yojana (PMAY), also known as the Housing for All by 2022 initiative, was established in 2015 with the goal of providing inexpensive housing to all residents by 2022, and according to official estimates, this might entail the construction of 20 million residences by 2022. Therefore these factors are also expected to propel the regional growth over the forecast period.
North American Market Forecast
The market in the North American region is anticipated to gain the largest market share throughout the forecast period on the back of the rising demand for concrete for construction activities, backed by the rising urban population. Moreover, the construction industry holds a prominent share in the economy of the United States, which is anticipated to boost market growth in the region. The U.S. construction industry was valued at around USD 1.4 trillion in 2020. As a consequence, the significant rise in the construction industry and construction equipment is expected to contribute to US market growth in the next decades.
Europe Market Forecast
The rise in numerous sectors such as agriculture, plastics and rubber, paper, construction, clothing, oil, and others is likely to drive the expansion of the sulphonated naphthalene formaldehyde market in Europe. Furthermore, expansion in the building industry is expected to boost the sulphonated naphthalene formaldehyde market. Also, the expansion of the population and urbanization is expected to buffer the development of the sulphonated naphthalene formaldehyde market in Europe. Moreover, the key businesses for sulphonated naphthalene formaldehyde study and development are expected to provide higher opportunities for the sulphonated naphthalene formaldehyde market growth in the approaching years in this region.
 Market Size.PNG)
Author Credits: Smruti Ranjan, Rajrani Baghel
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