Overview and Scope
The naphthalene derivatives refer to an aromatic hydrocarbon and the wetting agents that are extensively used as lubricants and wood-preserving compounds in various industries. It is useful as wetting agents and surfactants for dispersing colloids, increasing the solubility of hydrophobic substances, and as insecticides.
Sizing and Forecast
The nephthalene derivatives market size has grown strongly in recent years. It will grow from $9.05 billion in 2023 to $9.79 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to historical growth in chemical industry, expansion in dye and pigment industries, application in plasticizers and polymers, role in pesticides and agrochemicals, contributions to construction industry..
The nephthalene derivatives market size is expected to see strong growth in the next few years. It will grow to $13.04 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to growth in textile dyeing industry, innovation in construction materials, increasing demand in electronics, rise in green chemistry initiatives, exploration in pharmaceutical applications.. Major trends in the forecast period include innovative solutions, strategic collaborations, focus on healthcare and pharmaceuticals, exploration in agrochemicals, emergence of high-performance polymers..
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The nephthalene derivatives market covered in this report is segmented –
1) By Product Type: Sulphonated Naphthalene Formaldehyde, Phthalic Anhydride, Naphthalene Sulphonic Acid,Naphthols,Alkyl Naphthalene Sulphonates Salts, Other Product Types
2) By Form Type: Liquid Naphthalene Derivatives, Powder Naphthalene Derivatives
3) By Source Type: Coal Tar, Petroleum, Other Source Types
4) By End-Use Industry Type: Construction, Agro-Chemicals, Textiles, Oil and Gas, Paints and Coatings, Pulp and Paper, Pharmaceuticals, Other End-Users
Asia-Pacific was the largest region in the naphthalene derivatives market share in 2023. The regions covered in the nephthalene derivatives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing textile industry is expected to drive the naphthalene derivatives market going forward. The textile industry refers to the fields of research, design, development, production, and distribution of textiles, fabrics, and apparel. The market for naphthalene is growing as a result of rising living standards supported by high discretionary income, which translates to spending on fabrics and textiles where it is utilized in material dyeing and bleaching. For instance, in May 2023, according to National Council of Textile Organizations (NCTO) is a US-based trade association that representing textile industry, in 2022, the estimated value of U.S. shipments in the man-made fiber, textile, and apparel sector reached $65.8 billion, showing an increase from the $64.04 billion recorded in 2021. Notably, U.S. exports in textiles and apparel to the Western Hemisphere experienced a significant rise of 14.9 percent, reaching a total of $18 billion in 2022. Therefore, increasing demand from the textile industry drives the naphthalene derivatives market.
Key Industry Players
Major companies operating in the nephthalene derivatives market report are Rutgers Chemicals GmbH, BASF SE, Huntsman International LLC, Koppers Inc., Arkema SA, Evonik Industries AG, Kao Corporation, Cromogenia-Units SA, Clariant AG, King Industries Inc., Carbon Tech Group Ltd., JFE Chemical Corporation, Rain Carbon Inc., Giovanni Bozzetto Spa, Covestro AG, Himadri Specialty Chemical Ltd., Nippon Steel Chemical & Material Co. Ltd., Merck Co. & KGaA, Sinopec Shanghai Petrochemical Company Limited, Shandong Hongyuan Chemical Co. Ltd., Asahi Kasei Corporation, Biosynth Carbosynth Ltd., Nouryon Chemicals (Jiaxing) Co. Ltd., LG Chem Ltd., Eastman Chemical Company, Wanhua Chemical Group Co. Ltd, Saudi Basic Industries Corporation, Chevron Phillips Chemical Company
The nephthalene derivatives market report table of contents includes:
1. Executive Summary
2. Nephthalene Derivatives Market Characteristics
3. Nephthalene Derivatives Market Trends And Strategies
4. Nephthalene Derivatives Market – Macro Economic Scenario
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31. Global Nephthalene Derivatives Market Competitive Benchmarking
32. Global Nephthalene Derivatives Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Nephthalene Derivatives Market
34. Nephthalene Derivatives Market Future Outlook and Potential Analysis
