Naphthalene Derivatives Market Surge Towards Solid Growth by 2024

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Naphthalene Derivatives Market

Global Naphthalene Derivatives Market: Overview

For synthesis of naphthalene derivatives, naphthalene compounds are required. Synthesis of naphthalene takes place in two stages, namely, ring closure by cyclization reaction which is followed by the aromatization process. Various modifications can be carried out to obtain different kinds of naphthalene derivatives. Some of the examples of naphthalene derivatives are 1-methylnaphthalene, 1-naphthol, 2-naphthol and 1, 6-dihydroxynaphthalene. They are basically available in liquid and powdered form, of which, powdered form is used on a large scale. Naphthalene derivatives are mostly used in construction and textile industry. There is significant growth visible in the demand for naphthalene derivatives in the market.

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Global Naphthalene Derivatives Market: Segmentation

The global naphthalene derivatives market is segmented into its form, type, application and region. On the basis of form, the derivatives segment can be divided into liquid and powder. Based on type, the global naphthalene derivatives market is segregated into naphthalene-formaldehyde condensates (SNF), naphthalene sulfonic acid, alkyl naphthalene sulfonate salts and naphthols. Alkyl naphthalene sulfonate salts can be further subdivided into sodium polynaphthalene/naphthalene sulfonates and calcium polynaphthalene/naphthalene sulfonates and naphthols are subdivided into 1-naphthol and 2-naphthol. On the basis of application, the global naphthalene derivatives market division is seen into construction, agrochemical, textile, detergent, oil and gas, paint and coating, pulp and paper, pharmaceutical, leather tanning and rubber synthesis which is subdivided into SBR and NBR. Diversification of the naphthalene derivatives market is seen into regions such as Western Europe, North America, Central and Eastern Europe, South America, Asia Pacific, and the Middle East and Africa.

Global Naphthalene Derivatives Market: Growth Factors

The increasing speed with which the textile industry is growing is expected to be one of the major driving factors of the naphthalene derivatives market. The other major vertical contributing to this growth is the construction industry. Factors such as increasing developmental plans in the naphthalene derivatives market, constant urbanization and rise in living standards, increased research and development activities, and extensive utilization of naphthalene formaldehyde condensates in the construction industry are anticipated to aid the growth of the naphthalene derivatives market. However, increasing toxicity level linked with the utilization of naphthalene derivatives and fluctuations in prices of crude oil may prove to be a major restraining factor for growth of the market for naphthalene derivatives.

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Global Naphthalene Derivatives Market: Regional Analysis

The largest market for naphthalene derivatives is seen in Asia Pacific. Strong industrial base in the construction and textile application and growing production facilities are the major factors contributing towards this growth, especially in China. Other countries in Asia Pacific showing significant growth are Japan, India, South Korea, Indonesia, Australia and New Zealand. This trend is followed by North America and Europe. Countries such as the U.S., Germany, Mexico, Canada, the U.K., Italy, France, Spain, Russia and Argentina are showing growth in the global market. In the Middle East and Africa, the growth rate is expected to be slow due to the small number of end-users in this region.

Global Naphthalene Derivatives Market: Competitive Players

Some of the major companies in the naphthalene derivatives market are Koppers Inc., BASF SE, Clariant, Arkema Group, King Industries Inc., KAO Corporation, Huntsman International LLC, RÜTGERS Group, Giovanni Bozzetto S.p.A, Cromogenia-Units, S. A. and Evonik Industries AG.

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