The naphthalene derivatives market is anticipated to reach US$ 16.28 billion in 2022. By the end of 2032, the market for naphthalene derivatives is anticipated to have grown to more than US$ 29.65 billion, with a CAGR of 6.18% in value terms between 2022 and 2032.
Over the forecast period, the market for naphthalene derivatives is anticipated to expand at a respectable clip. This is mostly due to an increase in demand from the constantly expanding building sector, which relies heavily on naphthalene derivatives such naphthalene formaldehydes.
| Attributes | Details |
|---|---|
| Market for Naphthalene Derivatives CAGR | 6.18% |
| Market Size for Naphthalene Derivatives 2022 | US$ 16.28 billion |
| Market Size for Naphthalene Derivatives 2032 | US$ 29.65 billion |
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The demand for attractively colored textiles and fabrics rises as a result of improving living standards and the middle class's expansion, especially in the Asia-Pacific region. This direct demand for naphthalene derivatives is thus fueled by the increase in these two factors.
Additionally, the global market for naphthalene derivatives is experiencing revenue growth as a result of steadily expanding agrochemical industry demand.
Naphthalene Derivatives' Potential for Toxicology can be a Significant Impediment.
Due to the dependence of the naphthalene derivative market on crude oil, raw material price volatility is the main factor influencing revenues and margins. Furthermore, the majority of naphthalene derivatives are poisonous, which is a modest barrier to the naphthalene derivatives market.
The market for naphthalene derivatives is divided into two categories: liquid and powder. The market mostly uses naphthalene derivatives in powdered form. Powdered naphthalene derivatives are simpler to package, organize, and ship than their liquid counterparts. This is a major driver of the demand for powdered derivatives of naphthalene on the international market.
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The naphthalene derivatives market is divided into construction, agro-chemicals, textiles, oil & gas, paints & coatings, pulp & paper, pharmaceuticals, and others based on the end-use industry type. The market is dominated by the construction industry since naphthalene derivatives are primarily utilized to make PVC plastics and as superplasticizers in the building industry.
It is expected that North America and Western Europe would account for a combined naphthalene derivatives market share of more than 40% due to the concentration of numerous textile and agrochemical industries in these two regions.
In addition, the MEA and Latin American regions are predicted to experience considerable growth in the consumption of naphthalene derivatives over the course of the forecast period due to expanding construction and textile industries.
Asia-Pacific to Be a Major Growth Epicenter in This Market
Due to its growing economy, robust growth in the textile and construction industries to accommodate the growing population, and rising foreign direct investment (FDI), particularly in China and India, the Asia-Pacific region is anticipated to be the most lucrative market for naphthalene derivatives.
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BASF SE, RÜTGERS Group, Huntsman International LLC, Evonik Industries AG, Koppers Inc., Arkema Group, Kao Corporation, Giovanni Bozzetto Spa, Cromogenia-Units S.A., and Clariant are a few of the firms that are active in the global market.
The major participants in the global naphthalene derivatives market are now concentrating on regional growth, particularly in the developing nations of China, India, South East Asia, Brazil, etc.
In February 2020, Koppers stated that he planned to enter the copper naphthenate wood preservative market. The method is in keeping with the business's goal of increasing its presence in the wood preservation industry. Koppers is constantly looking at ways to set up in-house copper naphthenate manufacturing capabilities in order to strengthen its vertical integration business strategy.
Naphthalene is the most important member of the class of organic compounds, in which tow benzene rings are fused together in ortho-position. Naphthalene derivatives forms an integral part of process chemicals in many industries, including textile, construction and detergents.
Formaldehyde derivatives of naphthalene, are the most common ones and are also used as a super plasticizer in the construction industry for concrete mixtures. A variegated range of deviates are also being used for paints and coatings.
Moreover, naphthalene sulfonic acid and Naphthols are prominently used in the textile industry for manufacturing colourful dyes and pigment, which imparts colour to various fabrics. Naphthalene derivatives products are being sold in two different forms, including powder and liquid, of which powder forms the more prominent one, amid logistic ease associated.
Most of the prominent players in the industry are focused on geographical expansion, particularly in the emerging economies, and are also expanding or shifting their manufacturing bases, as per the demand dynamics in the market. The global naphthalene derivatives market is projected to expand with a moderate CAGR over the forecast period of 2016 to 2026.
The global naphthalene market is projected to grow at a decent growth rate over the forecast period. This can be primarily attributed to rising demand from the ever growing construction industry, of which naphthalene derivatives such as naphthalene formaldehydes, forms an integral part.
Improving living standards and the rising middle class population, particularly in the Asia Pacific region, results in increasing demand for textiles and fabrics with attractive colours, in turn fuelling direct demand for naphthalene derivatives. Apart from this, gradually rising demand from the agrochemical industry, is also helping driving revenues in the global naphthalene derivatives market
As an industry dependent upon crude oil, raw material price volatility is the prime concern governing revenues and margins for naphthalene derivative players. Moreover, the toxic nature of most naphthalene derivative is also a minor restraint to the global naphthalene derivatives market.
The global naphthalene market is segmented into the seven key regions: North America, Latin America, Western Europe, and Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA).
Due to rapidly growing construction activities and the rising living standards among the Asian Population in emerging economies such as China and India, demand for naphthalene derivatives in the region is projected to grow the fastest.
Moreover, due to concentration of large number of textile and agrochemical companies in North America and Western Europe, the regions together are anticipated to account for a combined market share of more than 40%. Apart from this, amid rising construction and textile industry in MEA and Latin America, the regions are also anticipated to account for significant growth in consumption of naphthalene derivatives over the forecast period.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, technology and applications.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
On the basis of form,
On the basis of type,
On the basis of end use industry,
The market is likely to register a CAGR of 6.18% through 2032.
The market is currently valued at US$ 16.28 Bn in 2022.
The market is likely to grow to a valuation of US$ 29.65 Bn by 2032.
North America is likely to be a leading market during the forecast period.
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Naphthalene Derivatives Market
