Asia Pacific Naphthalene Market Size study, by Source (Coal Tar, Petroleum) by Application (Phthalic Anhydride, Naphthalene Sulfonates, Low-Volatility Solvents, Moth Repellent, Pesticides, Other Applications) and Country Forecasts 2022-2032

Asia Pacific Naphthalene Market Size study, by Source (Coal Tar, Petroleum) by Application (Phthalic Anhydride, Naphthalene Sulfonates, Low-Volatility Solvents, Moth Repellent, Pesticides, Other Applications) and Country Forecasts 2022-2032

Asia Pacific Naphthalene Market is valued approximately USD 3.32 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 3.10% over the forecast period 2024-2032. Naphthalene, a crystalline aromatic hydrocarbon formed by the fusion of two benzene rings, is frequently sourced from coal tar and petroleum. Its versatility shines through as a foundational element in the creation of diverse chemicals such as dyes, insecticides, and lubricants. It is valued for its moth-repelling properties, generally utilized in solid form to safeguard closets and storage spaces from pests. The rapid expansion of the chemical industry is a key trend that is supporting the growth of the Asia Pacific Naphthalene Market during the studies period of 2022–2032. Asia-Pacific's chemical industry is growing rapidly due to rising demand from a variety of industries, including agriculture, electronics, and the automotive sector. The use of naphthalene in the manufacturing of chemicals such as insecticides, surfactants, and dyes are widespread and supports the expansion of the market.

The Asia-Pacific region is poised to be driven by substantial consumption in countries such as China and India, along with the rapid expansion of the construction and agriculture sectors in these countries. Additionally, the approval of major construction projects, especially in India, China, and Japan, is expected to further drive naphthalene demand in the region. With vast agricultural lands, countries in Asia Pacific have a high demand for effective crop protection solutions. Naphthalene-based compounds find application in pesticide production, and the growing need for these pesticides fuels the regional naphthalene market. Along with this, supportive government policies and regulations encourage the responsible use of naphthalene-based products, fostering market growth and ensuring environmental compliance. Furthermore, Asia-Pacific countries are increasingly integrated into the global market, leading to collaborations, partnerships, and investments in naphthalene-related industries. This integration boosts market opportunities and expands the naphthalene market's reach. However, it is anticipated that strict environmental laws regulating VOC emissions and the health risks connected to naphthalene use is restricting Asia Pacific Naphthalene Market growth throughout the research period of 2022–2032.

The key Countries considered for the Asia Pacific Naphthalene Market study includes China, India, Japan, South Korea, Australia and Rest of Asia Pacific. In 2023, China was the dominating regional market in terms of revenue owing to the manufacturing of synthetic resins, phthalic anhydride, and mothballs. Additionally, China's flourishing manufacturing sector relies heavily on naphthalene derivatives. Phthalic anhydride, a key derivative used in plasticizers, resins, and films, is a major consumer of naphthalene in China. The constant demand for these finished products translates to a strong demand for naphthalene. Government policies regarding infrastructure development, textile industry growth, and agricultural modernization can significantly influence the demand for naphthalene in China. Whereas, the market in India is expected to develop at the fastest rate over the forecast period.

Major market player included in this report are:
Epsilon Carbon Private Limited
JFE Chemical Corporation
Dong-Suh Chemical Ind. Co., Ltd.
Company 4
Company 5
Company 6
Company 7
Company 8
Company 9
Company 10

The detailed segments and sub-segment of the market are explained below:

By Source
Coal Tar
Petroleum

By Application
Phthalic Anhydride
Naphthalene Sulfonates
Low-Volatility Solvents
Moth Repellent
Pesticides
Other Applications

By Region:
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Years considered for the study are as follows:
Historical year – 2022
Base year – 2023
Forecast period – 2024 to 2032

Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and country level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

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