The report predicts the global Naphthalene Derivatives Market to grow with a CAGR of 3.8% over the forecast period from 2022-2031.
“Growing demand from textile industry especially in emerging countries of APAC is driving the global naphthalene derivatives market”
The global naphthalene derivatives market is estimated at USD 1.53 billion in 2022 and is projected to reach USD 1.85 billion by 2031, at a CAGR of 3.8% between 2022 and 2031. The market is witnessing growth due to the growing demand from the textile industry, especially in the emerging countries of Asia Pacific, and the increasing consumption of construction chemicals in developing countries. Other end-use industries such as construction, agrochemicals, textile, oil & gas, paints & coating, pulp & paper, and pharmaceuticals are also expected to offer lucrative opportunities for the growth of the naphthalene derivatives market. Toxicity associated with naphthalene derivatives and preference for alternate feedstock for phthalic anhydride are some of the major factors restraining the growth of the market. Fluctuating energy prices and overcapacity issues in China are challenging the growth of the global naphthalene derivatives market globally.
Powder: The fastest-growing segment of the naphthalene derivatives market, by form
The powder is estimated to be the fastest-growing form segment of the naphthalene derivatives market during the forecast period. The demand for powder form naphthalene derivatives has been stimulated due to the growth in textile industry and increasing construction activities. Easy availability of powdered form of naphthalene derivatives at room temperature and their convenient transportation and packaging in comparison to liquid form are the key factors responsible for the rapid demand for powdered form of naphthalene derivatives.
“Sulfonated Naphthalene Formaldehyde (SNF): The fastest-growing segment of the naphthalene derivatives market, by derivative”
SNF is estimated to be the fastest-growing segment, by derivative, during the forecast period (2022-2031). The rapid growth of this segment is attributed to its excellent water reducing ability in concrete admixtures. SNF is used as a superplasticizer in concrete admixtures. The increase in demand for high-grade concrete which provides stability, tensile strength, and is cost effective in nature is expected to lead to a rapid growth of this segment in the future.
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“Textile: The fastest-growing segment of the naphthalene derivatives market, by end-use industry”
Textile is projected to be the fastest-growing end-use industry segment of the naphthalene derivatives market during the forecast period. Extensive consumption of naphthalene derivatives such as alkylated naphthalene sulphonated salts as surfactants, and naphthols and naphthylamines as intermediates for synthesis of dyes and pigments is expected to drive the growth of the textile end-use industry segment of the naphthalene derivatives market.
“Asia Pacific: The fastest-growing market for naphthalene derivatives, by region”
The Asia Pacific region is estimated to be the fastest-growing market for naphthalene derivatives during the forecast period. The growth of the naphthalene derivatives market in APAC is due to the growing urban population and their increasing disposable income. These factors have led to wide scale construction of residential and non-residential complexes, and subsequently the consumption of naphthalene derivative-based superplasticizer to manufacture high-quality concrete. Furthermore, growing preferences for attractive clothing in developing economies of APAC also bolster the demand for dyes and pigments which make use of naphthalene derivatives on large scale. These factors are expected to drive the demand for naphthalene derivatives in APAC.
This study has been validated through primaries conducted with various industry experts globally.
These primary sources have been divided into three categories, namely, by company, by designation, and by region.
- By Company Type: Tier 1 – 45%, Tier 2 – 22%, and Tier 3 – 33%
- By Designation: C Level – 50%, Director Level – 10%, and Others – 40%
- By Region: North America – 17%, Asia Pacific – 17%, Europe – 33%, MEA – 25% and South America – 8%
The report also provides company profiles and competitive strategies adopted by major market players, such as Koppers (US), BASF (Germany), Rütgers (Belgium), Evonik (Germany), Cromogenia Units (Spain), King Industries, Inc. (US), Carbon Tech Group (Iran), JFE Chemical Corporation (Japan), Clariant (Switzerland) and Huntsman Corporation (US), among others.
The report covers the naphthalene derivatives market and its end-use industries across different industry verticals and regions. It aims at estimating the market size and growth potential of this market across different segments, such as form, derivative, and end-use industry. The report also includes an in-depth competitive analysis of the key market players along with their company profiles, recent developments, and key growth strategies.
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Reasons to buy this report:
From an insight perspective, this research report has focuses on various levels of analyses — industry analysis (industry trends) and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the naphthalene derivatives market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on naphthalene derivatives offered by the top players in the global naphthalene derivatives market
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the global naphthalene derivatives market
- Market Development: Comprehensive information about lucrative emerging markets – the report analyses the markets for naphthalene derivatives across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global naphthalene derivatives market
- Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of the leading players in the global naphthalene derivatives market
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