The scope of our recent study on the "Naphthalene Derivatives Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis - by Form, Derivative Type, End-Use Industry" includes the factors fueling the market growth, revenue estimation, and forecast, market share analysis, and the identification of significant market players and their key developments.
The naphthalene derivatives market size was valued at US$ 3.83 billion in 2023 and is expected to reach US$ 5.04 billion by 2031; it is estimated to register a CAGR of 3.5% from 2023 to 2031.
Naphthalene derivatives are compounds derived from naphthalene, also known as toxic aromatic hydrocarbon. They are colorless solid compounds having a melting point of 123-124 degrees Celsius, and are insoluble in water, benzene, and highly soluble in alcohol and ether. Naphthalene derivatives can disperse colloids and enhance hydrophobic compounds' solubility, which are used as wetting agents, surfactants, and insecticides. The single largest use of naphthalene is the production of phthalic anhydride, which is applied as an intermediate to make plasticizers for polyvinyl chloride and to produce alkyd resin polymers used in paints and varnishes. The combination of naphthalene and various functional groups, such as alcohols, amines, and sulfonic acids, acts as an intermediate in producing dyes and textile additives. The construction industry, in particular, drives significant demand for naphthalene derivatives. It is widely used for the preparation of free-flowing and pumpable concrete mixtures in the construction industry. Additionally, increasing investment in infrastructure development and industrialization in emerging economies contributes to the expansion of the naphthalene derivatives market.
On the basis of form, the naphthalene derivatives market is divided into powder and liquid. The powder segment held a larger market share in 2023, and it is expected to register the highest CAGR from 2023 to 2031. Naphthalene derivatives in powder form are used in the production of dyes and pigments, concrete admixtures, and pharmaceuticals. The demand for powder form is growing due to ease of handling and storage, especially in manufacturing processes that require precise measurements. It is widely preferred in the pharmaceutical industry as powdered naphthalene derivatives can be easily incorporated into solid dosage forms such as tablets and capsules. Naphthalene derivative powder is also used in dry dye formulations for the textile industry. Powdered substances are simpler to handle and transport as they are less prone to spillage or leakage compared to their liquid alternatives. Moreover, they feature longer shelf lives than liquid derivatives.
The market is segmented into five main regions-North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. Asia Pacific held the largest revenue share of the market in 2023. Demographic factors such as the continuous growth of the elderly population and improvements in the standards of living of the masses owing to urbanization also bolster this industry. The region has the world's largest construction market, which is highly supported by government initiatives. According to a National Bureau of Statistics report, China raised its fixed asset investment to US$ 8.5 trillion in 2022, driving the availability of funds for infrastructure development. In India, the rising population results in an elevated demand for accommodation, especially in tier 1 cities. As a result, both government bodies and the private sector have redirected their focus on fulfilling the burgeoning demand for housing. Derivatives of naphthalene are used as water reducing agents and superplasticizers in concrete production. Thus, all these factors are driving the naphthalene derivatives market growth in the region.
The report includes the segmentation of the global naphthalene derivatives market as follows:
The naphthalene derivatives market analysis is based on form, derivative type, end-use industry, and geography. Based on form, the market is divided into powder and liquid. In terms of derivative type, the market is segmented into sulfonated naphthalene formaldehyde, phthalic anhydride, naphthalene sulfonic acid, alkyl naphthalene sulfonate salts, and others. On the basis of end-use industry, the naphthalene derivatives market is segmented into building and construction, agrochemicals, textile, pharmaceuticals, oil and gas, dyes and pigments, and others. The scope of the naphthalene derivatives market report focuses on North America (the US, Canada, and Mexico), Europe (Germany, France, the UK, Italy, Russia, and the Rest of Europe), Asia Pacific (China, India, Japan, Australia, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America). In terms of revenue, Asia Pacific dominated the naphthalene derivatives market share.
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