The India sulphonated naphthalene formaldehyde market was valued at US$ 106.1 million in 2020, according to India Sulphonated Naphthalene Formaldehyde Market Report, by Product Type (Solid and Liquid), by Construction Industry (Residential, Infrastructure, and Non-residential), published by Coherent Market Insights.
The India sulphonated naphthalene formaldehyde market is expected to surpass US$ 218.5 million by 2028, exhibiting a CAGR of 9.3% during the forecast period (2021-2028). The growing demand from the construction industry is expected to bolster the growth of the sulphonated napthalene formaldehyde industry. Due to high level of activity in India’s real estate and infrastructure development, India holds the world’s second-largest cement market in terms of consumption as well as production, hence supporting high demand for sulphonated naphthalene formaldehyde. Share of construction sector remained high (i.e. between 7-8%) from 2008, and continues to retain its second-largest position, after agriculture. Government initiatives, public-private partnerships, infrastructure needs, international investment, and housing development continue to pose as major drivers for exponential growth of the construction industry in India.
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Key Takeaways of the India Sulphonated Naphthalene Formaldehyde Market:
- Among construction industry, residential segment accounts for the highest market share of 34.7% in the India sulphonated naphthalene formaldehyde market. Social sustainability in the construction sector is gaining importance, as it enhances the positive aspects of employment in the construction industry. Social risks due to labor migration, and safety of workers have a prominent impact on the construction industry. Relative cost of sulphonated naphthalene formaldehyde is less than that of polycarboxylate ether. Sulphonated naphthalene formaldehyde offers cost-effectiveness, as it supports increased use of cementitious supplementary material such as silica, fly ash, and slag.
- Manufacturers are focusing on developing new cement materials, such as ultra-high performance fiber reinforced concrete (UHPFRC), which is expected to boost demand for sulphonated naphthalene formaldehyde. SNF admixtures are more prone to rapid loss of workability at low water to cement ratios and excessive retardation than other superplasticizers such as sulphonated melamine formaldehyde and polycarboxylate ether.
- Major players operating in the India sulphonated napthalene formaldehyde market include Koppers, BASF, Rütgers, Evonik, Cromogenia Units, King Industries, Inc., Carbon Tech Group, JFE Chemical Corporation, Clariant, and Huntsman Corporation
- Key players operating in the sulphonated naphthalene formaldehyde market are highly focusing on the development of high-quality and innovative product offerings. Manufacturers are developing new modified sulphonated naphthalene formaldehyde derivatives with superior properties requiring man force with better technical skills and moderate production cost. For instance, in January 2016, BASF launched MasterEase, an innovative admixture range for low-viscosity concrete. As an India leader of concrete admixtures, the Master Builders Solutions developed MasterEase bringing significant improvement in the rheological properties of concrete.
India Sulphonated Naphthalene Formaldehyde Market - Impact of Coronavirus (COVID-19) Pandemic
- The consequences of COVID-19 pandemic have led to the slowdown of sulphonated napthalene formaldehyde production, demand, and trade. The closure of national and international borders has had an impact on numerous companies' business development strategies. The lockdown has had a significant impact on the construction industry, with construction sites shutting down due to unavailability of labors, which has had a significant impact on the sulphonated naphthalene formaldehyde market. The sulphonated naphthalene formaldehyde market is expected to rebound back in the next few months, with countries such as India aiming to restore their operations, reduce lockdown measures, and conduct widespread vaccination efforts.
