LONDON, Nov. 7, 2016 /PRNewswire/ -- "Rapidly increasing textile industry in Asia-Pacific is driving the global naphthalene derivatives market"
The global naphthalene derivatives market is projected to reach USD 833.0 million by 2021, at a CAGR of 3.63%. The market is projected to grow at a CAGR of 2.80% and reach 739.01 KT by 2021 by volume. The growing urbanization and modernization of the middle class is leading them to opt for a variety of fabrics with attractive colors to conform to the prevailing fashion trends, which is driving the growth of textile sector in the Asia-Pacific region. The demand from the textile sector is driving the naphthalene derivatives market. But fluctuations in crude oil prices and the high level of toxicity of naphthalene derivatives are major restraining factors for the growth of naphthalene derivatives market globally.
Powder: The largest form of naphthalene derivatives
The powdered form was the largest market of naphthalene derivatives in 2015. The logistics of operations of the powdered form of naphthalene derivatives such as organization, packaging and shipment is easy in comparison to the liquid form. This is a critical factor responsible for the growth of the powdered form in the global naphthalene derivatives market.
"Construction: The fastest-growing application for naphthalene derivatives"
Construction is the largest and the fastest growing application segment in the global naphthalene derivatives market. Naphthalene derivatives such as naphthalene-formaldehyde condensates are largely used in the construction industry, as superplasticizers in concrete admixtures to improve the quality and consistency in its water-to-cement ratio. Increasing use of naphthalene formaldehyde condensates in the construction sector is driving the global market for naphthalene derivatives.
"Asia-Pacific: The fastest-growing market for naphthalene derivatives"
The Asia-Pacific region is the fastest-growing market for naphthalene derivatives, in terms of value and volume. Increasing investments by foreign companies; the growing shift of production facilities to emerging economies of the region; the strong industrial base in the construction and textiles applications, and rise in the standards of living, are the major factors contributing to the growth of the naphthalene derivatives market in this region. The textile sector uses naphthalene derivatives such as naphthalene sulfonic acid and naphthols as a precursor to manufacture dyes and pigments.
This study has been validated through primaries conducted with various industry experts globally. These primary sources have been divided into three categories, namely, by company, by designation, and by region.
- By Company Type- Tier 1- 45%, Tier 2- 22%, and Tier 3- 33%
- By Designation- C Level- 50%, Director Level- 10%, and Others- 40%
- By Region- Europe- 37%, North America- 18%, Asia-Pacific- 18%, Middle East & Africa- 27%
The report also provides company profiles and competitive strategies adopted by the major market players, such as RÜTGERS Group (Belgium), Koppers Inc. (U.S.), BASF SE (Germany), Arkema Group (France), Clariant (Switzerland), Huntsman International LLC.,(U.S) GIOVANNI BOZZETTO S.p.A (Italy), Evonik Industries AG (Germany), Cromogenia-Units, S. A. (Spain), King Industries (U.S.), and Kao Corporation (Japan) among others.