Sulphonated Naphthalene Formaldehyde Market Share

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.