Naphthol AS-IRG Market Share

APAC Market Statistics

Asia Pacific industry is anticipated to hold largest revenue share of 35% by 2037, led by rising consumption of chemicals which is a positive indicator of the high production rate of naphthol AS-IRG which could be further used for various applications in numerous industries. The major factor for the market growth in the region is the rising consumption of chemicals which is a positive indicator of the high production rate of naphthol AS-IRG which could be further used for various applications in numerous industries. As of 2020, the chemical industry of the Asia Pacific region contributed to at least 60% of the revenues generated by the global chemical industry. A variety of construction projects like “Smart City” or “Housing for All” are taking place in China, India, and other parts of Asia Pacific. They are leading to the increasing demand for painting and coating as a result of this the naphthol AS-IRG market is rising in the region.

North American Market Forecast

The North American naphthol AS-IRG market is estimated to be the second largest, registering a share of about 24% by the end of 2036. The presence of various end-use industries in the region, especially the construction and chemical industries are the major factor for market growth in the region. Also, the escalation in the investments in research and development activities which has propelled the production of high-quality naphthol AS-IRG is another factor for market expansion in the region.

Europe Market Forecast

Further, the market in the European region, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2037. The rising awareness level about the advantages of naphthol AS-IRG is one of the primary reasons for market growth in the region. Furthermore, the presence of key players in the region is projected to create favorable opportunities for market expansion during the forecast period.