Naphthalene Market 2022-2030 | Global Leading Growth Drivers, Emerging Audience, Segments, Industry Size, Share, Profits and Regional Analysis by Forecast to 2030
Market Research Future (MRFR) studied The Global Naphthalene Market 2022 for the analysis period till 2030. As per MRFR findings, the global naphthalene market is expected to rise at 3.5% CAGR over the forecast period. By 2030, the global naphthalene market value is anticipated to touch decent amount.
Drivers and Restrains Impacting
Naphthalene Market
Naphthalene is an aromatic compound
that is organic and appears as white crystalline. It is highly volatile and
sublimes slowly at the room temperature. Naphthalene is extracted from
petroleum and coal tar fractions during refining. Different artificially
synthesized naphthalene compounds are deployed as precursors in the manufacturing
of other chemicals. For example, acids of naphthalene sulfonic are used in the synthesis
of pharmaceuticals, dyestuffs, and other chemicals. Moreover, it finds
applications in other end-use industries, such as; rubber, textile, agrochemical,
and building & construction.
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Key Players of Naphthalene Market
BASF SE (Germany), Industrial Koppers
Inc. (US), Química del Nalón S.A. (Spain), Merck KGaA (Germany), Carbon Tech & Sepahan Chimie complex
(Iran), PCC Rokita SA (Poland), Compro Shijiazhuang Fine Chemical Co (China),
DEZA a. s. (Czech Republic), WUXI KINGHAN BIO-MEDICAL&CHEMICAL INC.
(China), and Rain Carbon Inc.(India) are some of key players in the
global market of naphthalene that listed by MRFR.
The market of naphthalene is expected
to surge owing to the rise in demand for naphthalene as a precursor in the manufacturing
of agrochemicals and construction chemicals that primarily attributed to the growing
for plasticizers in concrete to boost strength and workability. For instance,
naphthalene sulfonate polymers also known as superplasticizer are used in the
production of fiber-reinforced and high strength concrete. Additionally, the upscaling
surging demand for naphthalene derivatives in the production of insecticides in
the agrochemical industry can fuel the naphthalene market in the years ahead.
The growing use of naphthalene-based
compounds as intermediates in the synthetic dyes preparation in textile
industry and dye dispersing agents can further creating lucrative growth
prospects for new players entering in the global market of naphthalene.
However, acute exposure of
naphthalene and its derivates can result in health-related hazards, such as; hemolytic
anemia, cataract, cancer, and retinal hemorrhage, which is likely to restrain
the market growth. In addition, the strict government norms and regulations
regarding the application of naphthalene and its derivatives can pose a threat
to the global naphthalene market. For example, on account of VOC emissions, health
issues related to naphthalene led the European Union (EU) to ban the supply of
naphthalene-based products.
Segmentation Assessment of
Naphthalene Market
The global naphthalene market’s segmented
analysis is based on application, source, end-use, and industry.
By source, the segments of the global
market of naphthalene are petroleum and coal tar.
By application, the segments of the global
market of naphthalene are plasticizer, surfactant & wetting agent, and pesticide
among others.
By end-use industry, the segments of
the global market of naphthalene are agriculture, chemical, building &
construction, textile, pharmaceuticals, and polymer among others.
Regional Analysis of Naphthalene
Market
The naphthalene market in the Asia Pacific
region can dominate the global naphthalene market and can register the highest
CAGR through the review period. The rising industrialization and increase in constructional
activities across the region can support the market growth in APAC. The increasing
demand for naphthalene and its derivatives, such as; naphthalene sulfonate
formaldehyde (NFS), in concrete admixtures and also in the manufacture plasterboards,
can favor the market. The growing application of naphthalene products in the manufacturing
of fumigant insecticides for vast arable lands owing to the surge in need for high-quality
crop protection chemicals can drive the regional market in the near future. China,
a large consumer of naphthalene that can contribute to the propulsion of the
naphthalene market growth.
In North America, the naphthalene
market accounted for a substantial share by 2023. The growing need for
plasticizer to manufacture plasterboards and concrete in constructional
applications due to increase in commercial and residential activities in the US
is anticipated to drive the regional market. In Europe, the utility of naphthalene
in the manufacturing of different intermediates in coatings and pharmaceutical industry
can augment the rise of the EU market. EU naphthalene market is expected to
register moderate growth pace over forecast term owing to the high consumption
of naphthalene sulfonates as constructional additives.
In Latin America and the Middle East Asia
& Africa regions, the market of naphthalene can show substantial growth through
the forecast term due to the rise in construction activities and industrialization
in these regions.
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