The market for naphthalene derivatives is expected to reach US$ 16.28 billion by 2022. The market for naphthalene derivatives is expected to exceed US$ 29.65 billion by the end of 2032, with a CAGR of 6.18% in value terms between 2022 and 2032.
Naphthalene is the most important member of the class of organic compounds, in which tow benzene rings are fused together in ortho-position. Naphthalene derivativesforms 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.
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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.
Global Naphthalene Derivatives Market: Drivers and Restraints
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.
Global Naphthalene Derivatives Market: Region Wise Outlook
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.
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Global Naphthalene Derivatives Market: Segmentation
On the basis of form,
- Powder
- Liquid
On the basis of type,
- Naphthalene Sulfonic Acid
- SNF
- Alkyl Naphthalene Sulfonates
- Naphthols
- Others
On the basis of end use industry,
- Constructions
- Agrochemicals
- Textiles
- Detergents
- Paints and Coatings
- Others
Global Naphthalene Derivatives Market: Key Players
- RÜTGERS Group
- BASF SE
- Huntsman International LLC.
- Koppers Inc.
- Arkema Group
- Evonik Industries AG
- Kao Corporation
- Cromogenia-Units, S.A
- Clariant
- Giovanni Bozzetto Spa
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