The global naphthol AS-IRG market is anticipated to be valued at USD 142.9 Million in 2022, forecast a CAGR of 5.9% to be valued at USD 253.5 Million from 2022 to 2032. Growth is attributed to the increasing growth in the construction industry. From 2016 to 2021 a CAGR of 4.6% was registered for the naphthol AS-IRG market.
| Data Points | Key Statistics |
|---|---|
| Growth Rate (2016 to 2021) | 4.6% CAGR |
| Projected Growth Rate (2022 to 2032) | 5.9% CAGR |
| Expected Market Value (2022) | USD 142.9 Million |
| Anticipated Forecast Value (2032) | USD 253.5 Million |
Naphthols are insoluble azo dyes applied to cellulosic fibers by impregnation in a naphthol solution and subsequent coupling with a color salt. All cellulosic fibers such as cotton, linen, jute, hemp, as well as silk and rayon may be dyed or printed with naphthols.
Azoic dyes are used for producing bright shades of color such as orange, red, navy blue, and black color. Acetoacetanilide is a co-promoter for unsaturated polyesters and is used in agricultural chemicals, coating materials, dyes, and pigments. Agrochemicals, dyes, pigments, pharmaceuticals, including vitamins, and stabilizers for PVC and polyester are among the many uses for diketene derivatives.
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Growing Application Dyes and Pigment Industry to Drive the Growth of the Market
The Major factors driving the market are the growing demands coming from the dyes and pigments industry. Naphthol AS-IRG is suitable for textile dyeing and printing, pigment manufacturing, and tie and dye Industries. Some of the phenolic chemicals manufactured are used as key ingredients for various dye intermediates and pigments used in the synthesis of active pharmaceutical ingredients such as Medodrine. It is also used as an intermediate for plastic additives and dyes (yellow pigment).
Because of the expanding application in the building and paint sectors, the inorganic pigments market is likely to rise significantly. The inorganic pigments market is driven by urbanization and increasing development in construction activities, particularly in emerging nations. Furthermore, the increased use of inorganic pigments as colorants in the plastics industry is fueling market expansion.
Although the naphthol AS-IRG market has numerous end-uses, there are numerous obstacles that likely pose a challenge to market growth. The rising awareness of environmental degradation and various associated health risks is promoting the use of organic products. With the further spread of awareness, a huge consumer shift is likely to occur toward organic products, leading to higher organic pigment demand, irrespective of the pricing difference.
Despite the potential economic advantages associated with naphthol AS-IRG, there are several drawbacks that are projected to restrain the overall development of the global market. For instance, concerns over harmful environmental and health impacts of azo pigments are restraining the global market. However, extensive research is being carried out to identify efficient effluent treatment measures.
North America has increased demand for low-carbon products. The use of azo pigments in foods has been permitted by governments around the region. North America is expected to benefit from this. The North American naphthol AS-IRG market accounts for 23.1% share of the total global market.
Furthermore, the rapid growth of the packaging industry, combined with the increasing usage of organic pigments in food and commercial packaging applications, as well as increased demand for the product in paint and printing ink applications, is likely to boost the regional market growth.
According to Future Market Insights, Because of the prevalence of various market players, as well as the increasing number of export and import activities in the region, the Europe region is expected to have the highest growth rate. The Europe naphthol AS-IRG market accounts for an 18.4% share of the total global market.
The growing construction activities such as infrastructure development, and commercial & residential building construction, in turn, are elevating the growth of the construction industry. The growth of the construction industry is expected to create robust opportunities for dependent industries, including the pigments industry in Europe.
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In terms of producing and supplying organic pigments, Asia Pacific is the largest market. The market has grown as a result of the rising demand for organic pigments and government regulations requiring the use of eco-friendly products. This is the strongest regional market for industries like textiles, plastics, and construction, thus organic pigment makers are focusing their efforts here.
The demand for naphthol AS-IRG is expected to skyrocket due to increased demand from furniture manufacturers for solvent-based intermediaries for wood preservative applications. China is the world's largest producer, consumer, and exporter of furniture.
Because of the low manufacturing costs and opportunity to serve local emerging markets, businesses are also transferring their production base to Asia Pacific. The biggest organic pigment markets in the region include China, Japan, and India. In Asia Pacific, China is the largest producer and consumer of organic pigments. China and India are large producers of azo pigments and they are expected to dominate the market in the region over the forecast period.
The new entrants in the naphthol As-IRG market are continually indulging in several collaborations and highly investing in research and development activities to provide more convenient solutions to industry verticals. Some of the major start-ups that are leading the development of the market are- EMCO dyestuff, and Multiorganics.Pvt.Ltd, Himanshu Dye Chem., World of Chemicals,
Some of the key participants present in the global naphthol AS-IRG market include Vipul organics, Qingdao Longyuntong Corporation, Jiangsu Tianbo Chemical Co.Ltd., and PRAVIN DYECHEM PVT. LTD, Laxmi Organic Industries Limited, and many others.
Attributed to the presence of such a high number of participants, the market is highly competitive. While global players such as Vipul organics, Qingdao Longyuntong Corporation, Jiangsu Tianbo Chemical Co.Ltd., and PRAVIN DYECHEM PVT. LTD accounts for a considerable market size, several regional-level players are also operating across key growth regions, particularly in the Asia Pacific.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.9% from 2022 to 2032 |
| Expected Market Value (2022) | USD 142.9 Million |
| Anticipated Forecast Value (2032) | USD 253.5 Million |
| Base Year for Estimation | 2021 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Application, Region. |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa. |
| Key Countries Profiled | USA, Canada, Mexico, Brazil, Germany, Italy, France, United Kingdom, Spain, Russia, China, Japan, India, South Korea, Australia, South Africa, Saudi Arabia, United Arab Emirates(UAE), Israel. |
| Key Companies Profiled | Vipul Organics; Qingdao Longyuntong Corporation; Jiangsu Tianbo Chemical Co. Ltd.; PRAVIN DYECHEM PVT. LTD; Laxmi Organic Industries Limited; Koppers Inc.; Himadri Specialty Chemical Ltd.; Sigma Aldrich Co. LLC; Rain Industries Limited; EMCO Dyestuff Pvt. Ltd. |
| Customization | Available Upon Request |
FMI projects the global naphthol AS-IRG market to expand at a 5.9% value CAGR by 2032
North America is expected to be the most opportunistic with a 23.1% share of the total naphthol AS-IRG market
Vipul organics, Qingdao Longyuntong Corporation, Jiangsu Tianbo Chemical Co.Ltd., PRAVIN DYECHEM PVT. LTD are some prominent naphthol AS-IRG, market manufacturers.
| Market Share Value (2023) | USD 466.58 Million |
|---|---|
| Market Anticipated Forecast Value (2033) | USD 1698 Million |
| Market Projected CAGR (2023 to 2033) | 13.7% |
| Market Size 2022 | USD 16.28 billion |
|---|---|
| Market Size 2032 | USD 29.65 billion |
| Market CAGR (2022 to 2032) | 6.18% |
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