What Fueled The Previous Growth In The Nephthalene Derivatives Market?
The nephthalene derivatives market has seen considerable growth due to a variety of factors.
• In recent times, the naphthalene derivatives market has seen substantial growth. The forecast suggests an increase from $9.74 billion in 2024 to $10.44 billion in 2025, translating to a compound annual growth rate (CAGR) of 7.1%.
The surge experienced in the historical period can be credited to the growth of the chemical industry, the expansion of dye and pigment industries, its usage in plasticizers and polymers, its function in pesticides and agrochemicals, and its significant contributions to the construction industry.
What Is The Expected Growth In The Nephthalene Derivatives Market Size Evolve over the Forecast Period?
The nephthalene derivatives market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipations of robust expansion are present for the naphthalene derivatives market, projected to reach a market size of $13.42 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 6.5%.
The forecasted growth for the period is driven by an increase in textile dyeing industry, advancement in construction materials, escalating demand in electronics, surge in green chemistry initiatives, and exploration in pharmaceutical applications. The period's prime trends encompass innovative solutions, strategic partnerships, emphasis on health and pharmaceutical sector, research in agrochemicals, and the development of high-performance polymers.
What Main Forces Are Fueling Expansion In The Nephthalene Derivatives Market?
The naphthalene derivatives market is projected to grow alongside the expanding textile industry. The textile industry encompasses the research, design, development, production, and distribution of textiles, fabrics, and clothing. With rising living standards and high disposable income, there is an increased spending on textiles and fabrics where naphthalene is used in dyeing and bleaching processes. For example, in May 2023, data from the US-based trade association, National Council of Textile Organizations (NCTO) indicates a rise in the estimated value of U.S. shipments in the man-made fiber, textile, and apparel sector; it rose to $65.8 billion in 2022 from $64.04 billion in 2021. Remarkably, there was a significant growth of 14.9 percent in U.S. exports of textiles and apparel to the Western Hemisphere, amounting to $18 billion in total for 2022. Consequently, the escalating demand from the textile sector propels the naphthalene derivatives market forward.
What Are The Primary Segments In The Global Nephthalene Derivatives Market?
The naphthalene 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
Subsegments:
1) By Sulphonated Naphthalene Formaldehyde: Superplasticizers, Concrete Admixtures
2) By Phthalic Anhydride: Plasticizers, Resins
3) By Naphthalene Sulphonic Acid: Dyes And Pigments, Detergents
4) By Naphthols: Naphthol AS (Alpha-Naphthol), Naphthol BS (Beta-Naphthol)
5) By Alkyl Naphthalene Sulphonates Salts: Detergents, Agrochemicals
6) By Other Product Types: Naphthalene, Naphthylamine, Other Specialty Chemicals
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How Are New Trends Impacting The Size Of The Nephthalene Derivatives Market?
Technological innovation is rapidly becoming a notable trend within the naphthalene derivatives market. Principal players in this marker are forging ahead with new technological approaches including Ecofining technology. For instance, Honeywell, a US firm that operates in the naphthalene derivatives sector, has launched UOP Ecofining. This is a pioneering technology that manufactures renewable naphtha for petrochemical production. This innovative method could potentially produce substantial amounts of naphtha using environmentally sustainable raw materials such as reclaimed cooking oil and animal fats. The produced naphtha plays a crucial role as a petrochemical feedstock, contributing to the production of plastics, primarily olefins which underpin other chemicals, and aromatics utilized in the fabrication of polyester and various packaging materials.
Who Are the Key Players In The Nephthalene Derivatives Market?
Major companies operating in the naphthalene derivatives market are:
• 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
What Is The Most Dominant Region In The Nephthalene Derivatives Market?
Asia-Pacific was the largest region in the naphthalene derivatives market share in 2024. The regions covered in the naphthalene derivatives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
