Sulphonated naphthalene formaldehyde is a condensed polymer product. It is mainly used as powerful water reducing agent in concrete and also known as superplasticizer. It produces concrete with exceptionally workable characteristic referred to as high slump. It helps to keep the minimum water to cement ratio without compromising the degree of workability. It is also a very good dispersing agent. The India sulphonated naphthalene formaldehyde market is estimated to surpass US$ 218.5 million by the end of 2028 in terms of revenue, exhibiting a CAGR of 9.3% during the forecast period (2021 to 2028).
One of the key factors expected to stimulate market growth during the forecast period are the advantages of sulphonated naphthalene formaldehyde over other plasticizers. Blending sulphonated naphthalene formaldehyde with lignosulfonates improves its slump retention characteristics. Use of sulphonated naphthalene formaldehyde enables fast mixing of concrete by improving flow properties. It is a non-hazardous and environment-friendly product. Sulphonated naphthalene formaldehyde is known as a second-generation superplasticizer, a versatile product for formulation and compatible with admixtures. It improves rheological properties of concrete such as flexural strength, modulus of elasticity, and compressibility, as well as used as a dispersing agent. The relative cost of sulphonated naphthalene formaldehyde is low and it supports the use of fly ash, silica, and slag as cementious supplementaries, making it most widely used superplasticizer in India as well internationally.
Availability of substitute products can restrict the market growth. Sulphonated naphthalene formaldehyde is most commonly used as superplasticizer in the cement industry. However, other super plasticizing chemicals such as polycarboxylate ether, lignosulphonates, and sulphonated melamine product typealdehyde (SMF) are available in the market. Lignosulphonates produces high range water reduction at high doses. Lignosulphonate salts of sodium and calcium, hydroxycarboxylic acids, and carbohydrates are few examples in this category. Sulphonated melamine product typealdehyde (SMF) produces high initial slump and are suitable for cold climate and also suitable where concreting time is short like in case of precast concrete. The costs of sulphonated melamine formaldehyde and polycarboxylic ether are almost similar, followed by sulphonated naphthalene formaldehyde. In terms of relative cost, lignosulphonates are cheaper than sulphonated naphthalene formaldehyde. Thus, availability of different alternatives for sulphonated naphthalene formaldehyde is restraining growth of the market.
Figure 1. Market Dynamics of India Sulphonated Naphthalene Formaldehyde Market
Growing demand from the construction industry is a major trend in the sulphonated napthalene formaldehyde market. India is the second fastest-growing economy in the world and the construction sector is the one of the largest sectors contributing to India’s economy, after agriculture. For instance, a report published by DMG Events India, in 2015, mentioned that construction sector has a 10% share in India’s GDP and the Planning Commission stipulated US$ 1 trillion investment in infrastructure for the 2012-17 period. The Indian government liberalized and simplified foreign direct investment (FDI) policy in the construction sector, which is enhancing the industry’s performance, owing to increasing presence of international contractors. In India, construction industry, accounts for second-highest inflow of FDI after the service sector. Moreover, Pradhan Mantri Awas Yojana (PMAY) or the Housing for all by 2022 launched in 2015, aimed to provide affordable housing to all citizens by 2022, and as per government speculation this could entail construction of 20 million houses by 2022.
India Sulphonated Naphthalene Formaldehyde Market Report Coverage
|Base Year:||2020||Market Size in 2020:||US$ 106.1 Mn|
|Historical Data for:||2017, 2018 and 2019||Forecast Period:||2021 to 2028|
|Forecast Period 2021 to 2028 CAGR:||9.3%||2028 Value Projection:||US$ 218.5 Mn|
Koppers, BASF, Rütgers, Evonik, Cromogenia Units, King Industries, Inc., Carbon Tech Group, JFE Chemical Corporation, Clariant, and Huntsman Corporation
|Restraints & Challenges:||
Figure 2. India Sulphonated Naphthalene Formaldehyde Market Revenue Share (%), By Construction Industry, 2020
On the basis of construction industry, in 2020, residential sector accounts for the highest market share of 34.7% in the India sulphonated naphthalene formaldehyde market. Increasing use of naphthalene derivatives such as Sulphonated naphthalene formaldehyde (SNF) and phthalic anhydride which are used as superplasticizers in concreting and manufacturing of PVC plastics in infrastructural development is driving the demand from the construction industry.
India Sulphonated Napthalene Formaldehyde Market - Impact of Coronavirus (COVID-19) Pandemic
Chemicals & materials is one of the key industries experiencing severe disruptions due to the discontinuation of supply chains and plant operations. The shutdown of manufacturing plants in regions such as North America, Europe, and APAC has hampered the India supply chains, thereby affecting manufacturing processes, distribution schedules, and product sales. The consequences of COVID-19 pandemic have also led to the slowdown of sulphonated napthalene formaldehyde production, demand, and trade. The shutdown of national and international boundaries have affected business development strategies of various companies. However, with the economies planning to revive their operations, relaxing lockdown measures, and conducting mass vaccination drives, the sulphonated napthalene formaldehyde market is likely to bounce back in the coming months.
Key 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.
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