At 2.2% CAGR, South & Central America Naphthalene Derivatives Market is Projected to be Worth US$ 275.83 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the South & Central America naphthalene derivatives market was valued at US$ 231.60 million in 2023 and is expected to reach US$ 275.83 million by 2031, registering a CAGR of 2.2% from 2023 to 2031.Growth of construction industry and technological innovations are among the critical factors attributed to drive the South & Central America naphthalene derivatives market growth.

In 2023, the Inter-American Development Bank approved a US$ 300 million loan for Brazil to enhance sustainable development in its northeastern region by addressing infrastructure bottlenecks affecting key production chains. This program will help states identify and advance crucial infrastructure projects. Additionally, Brazil's Minister of Ports and Airports, Silvio Costa Filho, announced a plan for a US$ 3.33 billion investment in the port sector for 2025 during a recent press session. Naphthalene derivatives such as naphthalene sulphonates are used as superplasticizers in concrete. These compounds play a major role in improving the workability of concrete, facilitating more effective dispersion of cement particles. The demand for naphthalene compounds is fueled by the rising need for high-strength and durable concrete structures. Therefore, the growth of the global construction industry drives the naphthalene derivatives market.

On the contrary, the availability of substitutes hampers the growth of South & Central America naphthalene derivatives market.

Based on form, the South & Central America naphthalene derivatives market is bifurcated into powder and liquid. The powder segment held 62.8% market share in 2023, amassing US$ 145.45 million. It is projected to garner US$ 178.95 million by 2031 to register 2.6% CAGR during 2023-2031.

In terms of derivative type, the South & Central America naphthalene derivatives market is segmented into sulphonated naphthalene formaldehyde, phthalic anhydride, naphthalene sulphonic acid, alkyl naphthalene sulfonate salts, and others. The phthalic anhydride segment held 50.8% share of South & Central America naphthalene derivatives market in 2023, amassing US$ 117.56 million. It is anticipated to garner US$ 141.32 million by 2031 to expand at 2.3% CAGR during 2023-2031.

By end-use industry, the South & Central America naphthalene derivatives market is segmented into building and construction, agrochemicals, textile, pharmaceuticals, oil and gas, dyes and pigments, and others. The building and construction segment held 35.5% market share in 2023, amassing US$ 82.30 million. It is projected to garner US$ 102.67 million by 2031 to register 2.8% CAGR during 2023-2031.

By country, the South & Central America naphthalene derivatives market is segmented into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 69.0% share of South & Central America naphthalene derivatives market in 2023. It was assessed at US$ 159.78 million in 2023 and is likely to hit US$ 194.92 million by 2031, registering a CAGR of 2.5% during 2023-2031.

Key players operating in the South & Central America naphthalene derivatives market are JFE holdings Inc; Stepan Co; Nouryon Chemicals Holding BV; Merck KGaA; Hefei TNJ Chemical Industry Co., Ltd.; Himadri Speciality Chemical Ltd; Chempro Group; Methanol Chemicals Co; MUHU (China) Construction Materials Co., Ltd.; PCC SE; Rain Industries Ltd; King Industries, Inc.; MP Biomedicals; Shandong Jiu Chemical Technology Co., Ltd.; and Nan Ya Plastics Corp, among others.

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