The global naphthalene market is anticipated to expand at a CAGR of 3.1% during the forecast period, 2021 – 2028. The growth of the market is attributed to increasing demand from the textile industry and rising consumption of construction chemicals in emerging economies.
Naphthalene is a simple polycyclic aromatic hydrocarbon, and is naturally available in white crystalline form. The organic compound structure consists of a fused pair of benzene rings. It is known as a prime ingredient for traditional mothballs. It is volatile and sublimes slowly at room temperature.
Naphthalene is derived from coal tar and petroleum fractions during refining. Artificially synthesized naphthalene compounds is used as precursors in the production of other chemicals. Naphthalene sulfonic acids are used in synthesis of dyestuffs and pharmaceuticals, among others. It also finds applications in several end-use industries, including textile, building & construction, rubber, and agrochemicals.
Naphthalene Market Trends, Drivers, Restraints, and Opportunities
- Rising demand for rubber is anticipated to drive the market growth.
- Increasing demand for naphthalene as a precursor in the production of construction chemicals and agrochemicals storage is expected to positively impact the market growth.
- Growing textile industry is anticipated to act as a major driver for the naphthalene market.
- Increasing demand for paint & coatings and leather products is excepted to boost the market growth during the forecast period.
- Fluctuations in prices of crude oil and high level of toxicity associated with the use of naphthalene can hinder the growth of the naphthalene market.
- The COVID-19 pandemic had hampered the growth of the market owing to closedown of manufacturing facilities across the globe. However, the declining cases of virus is expected to help the market recover soon.
- Increasing investment in the development of new applications of naphthalene for various industry verticals can creates opportunities for market industry players in the projected timeline.
Scope of Naphthalene Market Report
The report on the global naphthalene market research report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
|
Attributes
|
Details
|
|
Report Title
|
Naphthalene Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
|
|
Base Year
|
2020
|
|
Historic Data
|
2018–2019
|
|
Forecast Period
|
2021–2028
|
|
Segmentation
|
Sources (Coal Tar and Petroleum) and Applications (Phthalic Anhydride, Naphthalene Sulfonates, Low-Volatility Solvents, Moth Repellent, Pesticides, and Others)
|
|
Regional Scope
|
North America, Latin America, Europe, Asia Pacific, and Middle East & Africa
|
|
Report Coverage
|
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
|
|
Key Players Covered in the Report
|
CarbonTech Group, Rain Carbon Inc., JFE Chemical Corporation, Exxon Mobil Corporation, and Epsilon Carbon
|
Naphthalene Market Segment Insights
Coal tar segment to account a considerable market share
Based on sources, the market is bifurcated into coal tar and petroleum. The coal tar segment is anticipated to account for a considerable market share during the forecast period. Coal tar is a volatile product that is formed from the destructive distillation of coal, and produced through modern processes, which includes high-temperature cracking that is breaking up of large molecules of petroleum. It is commercially produced by crystallization from the intermediate fraction of condensed coal tar and from the heavier fraction of cracked petroleum.
Naphthalene sulfonates to hold a major market share
Based on applications, the global naphthalene market is divided into phthalic anhydride, naphthalene sulfonates, low-volatility solvents, moth repellent, pesticides, and others. The naphthalene sulfonates segment is expected to hold a major market share during the forecast period owing to its excellent water reducing ability in concrete admixtures. It is also used as a superplasticizer in concrete admixtures. Increasing demand for high-grade concrete that provides stability, tensile strength, and is cost effective in nature is expected to propel the segment growth.
Asia Pacific to dominant the market
In terms of regions, the market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the market during forecast period. Rapid growth of the manufacturing sector, ample availability of labor, competitive cost base, and increasing consumer demand are expected to drive the market in the region. Moreover, rising population and disposable income, and increasing investments in building & construction activities in Southeast Asian countries are expected to propel market the market in the region.
Segments
The market Global Naphthalene has been segmented on the basis of
Sources
Applications
- Phthalic Anhydride
- Naphthalene Sulfonates
- Low-Volatility Solvents
- Moth Repellent
- Pesticides
- Others
Regions
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Players
Competitive Landscape
Key players operating in the global Naphthalene market includes CarbonTech Group, Rain Carbon Inc., JFE Chemical Corporation, Exxon Mobil Corporation, and Epsilon Carbon.
Request For Customization
Enquiry Before Buying
Speak With Analyst
