Global Naphthalene Derivatives Market Report and Forecast 2023-2028

Global Naphthalene Derivatives Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global naphthalene derivatives market reached a value of USD 1.68 billion in 2022. Aided by the increasing demand for high-performing chemicals in a variety of industries and the broadening applications of naphthalene derivatives, the market is projected to further grow at a CAGR of 3.96% between 2023 and 2028 to reach a value of USD 2.21 billion by 2028.

Naphthalene derivatives are a family of organic compounds that contain naphthalene, a polycyclic aromatic hydrocarbon. Naphthalene derivatives, which include compounds such as naphthalene sulfonic acid, naphthols, and phthalic anhydride, have diverse applications across multiple sectors, including construction, textile, agriculture, and the chemical industry. They are primarily utilised for their colouring, pesticidal, and concrete admixture properties.

The rising global demand for high-performance chemicals is driving the global naphthalene derivatives market growth. As industries strive for efficiency and quality, the need for robust and specialised chemicals like naphthalene derivatives has escalated. Their diverse properties and functionality make them ideal candidates for use in a wide array of applications, thereby bolstering their demand.

In addition, the burgeoning construction industry has significantly contributed to the increasing popularity of naphthalene derivatives. In this sector, naphthalene derivatives are frequently used as superplasticisers in concrete mixtures, enhancing the concrete's workability and strength. As construction activities continue to expand globally, the demand for naphthalene derivatives in concrete admixtures is set to rise.

The versatility of naphthalene derivatives in various industries also plays a crucial role in propelling their naphthalene derivatives market. In the textile industry, naphthols and their associated azo dyes are used extensively for their vibrant colouring properties, enhancing the aesthetics of textiles. The agriculture industry employs naphthalene derivatives for their pesticidal properties, contributing to crop protection and yield enhancement. Moreover, in the chemical industry, these derivatives serve as intermediate compounds for the synthesis of a wide range of chemicals.

Further, the trend towards sustainable and eco-friendly practices in industries has led to an increased focus on naphthalene derivatives. Given their efficacy and relatively lower environmental impact compared to other industrial chemicals, naphthalene derivatives are being increasingly adopted, boosting their naphthalene derivatives market expansion.

Market Segmentation

The market can be divided based on form, source, derivative, industry vertical, and region.

Market Breakup by Form

• Power
• Liquid

Market Breakup by Source

• Coal-Tar
• Petroleum Based
• Others

Market Breakup by Derivative

• Phthalic Anhydride
• Sulphonated Naphthalene Formaldehyde (SNF)
• Naphthalene Sulphonic Acid
• Naphthol
• Alkyl Naphthalene Sulphonate Salts
• Others

Market Breakup by Industry Vertical

• Paints and Coatings
• Pharmaceutical
• Construction
• Textile
• Pulp and Paper
• Oil and Gas
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global naphthalene derivatives companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Biosynth Ltd
• Giovanni Bozzetto S.p.A.
• Himadri Specialty Chemical Ltd.
• King Industries, Inc
• JFE Chemical Corporation
• Rain Carbon Inc.
• Industrial Química del Nalón, S.A.
• PCC Rokita SA
• NIPPON STEEL Chemical & Material Co., Ltd.
• Koppers Inc.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.