Sulphonated Naphthalene Formaldehyde Market Size

Sulphonated Naphthalene Formaldehyde (Snf) Market size was over USD 2.41 Billion in 2023 and is projected to exceed USD 4.43 Billion by the end of 2036, witnessing over 4.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of sulphonated naphthalene formaldehyde is evaluated at USD 2.51 Billion. The growth of the market can be attributed to the Increasing application of sulphonated naphthalene formaldehyde as a concrete additive in the construction industry. It is widely used in the creation of free-flowing, pumpable concrete blends. It is widely used in the building business. In the building industry, sulfonate naphthalene formaldehyde can be employed as a raw ingredient for anti-freezing intermediaries, compound catalysts, and retarders.

Also, a rise in the chemical industry is expected to propel the sulphonated naphthalene formaldehyde market. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, the Chemical industry in the U.S. accounted for 16.43% of manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in the future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030.