According to a recently released Research Nester report “Naphthalene Derivatives Market: Global Demand Analysis and Opportunity Outlook 2027” delivers detailed overview of the global naphthalene derivatives market in terms of market segmentation by form, by product, by end user, by source and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Naphthalene derivatives are the used for a number of industrial applications, for instance, in industries such as agriculture, construction, textile, rubber and others. With changes and developments in process design, equipment design and raw materials used, there has been a boom in product demand in recent years. The availability of naphthalene derivatives in various compositions such as salts, alcohols, acids and others is estimated to boost the market growth by a CAGR of 4.6% during the forecast period i.e. 2019-2027. Additionally, the rapid industrialization and urbanization is anticipated to increase market growth owing to change in lifestyle of people, with people investing more in construction and textile sectors.
The global naphthalene derivatives market is segmented by form, by product, by end user, by source and by region. The end user segment is further segmented into construction, agro-chemicals, textiles, oil & gas, paints & coatings, pulp & paper, pharmaceuticals and others, out of which, the construction segment is anticipated to have significant growth on account of expansion and increased investments.
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The product segment is further segmented by sulphonated naphthalene formaldehyde, phthalic anhydride, naphthalene sulphonic acid, naphthols, alkyl naphthalene sulphonate salts and others, out of which the sulphonated naphthalene formaldehyde is anticipated to observe significant growth on the back of its use in concrete cement as super plasticizer. Additionally, phthalic anhydride segment is anticipated to witness market growth owing to their use in manufacturing dyes and pigments as a result of expanding textiles industry.
Geographically, the global naphthalene derivatives market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The markets in North America and Europe are anticipated to have a high combined market share owing to prominent presence of medical and agro chemical sector in the regions. The market in Asia-Pacific region is anticipated to witness high growth owing to rise in urbanization and industrialization in the region. However, the market in Middle East and Africa region is anticipated to witness slow growth owing to limited number of end users.
Increasing Industrial Applications to Boost the Demand for Global Naphthalene Derivatives
The expansion in construction industry resulting in increasing utilization of naphthalene derivatives for cement manufacturing coupled with evolution of textile industry with better and new textile products are anticipated to drive the market growth. Furthermore, the expansion in pharmaceutical sector is estimated to increase the market growth owing rise in use of naphthalene in medication and drugs.
Industry Players are Progressing towards Minimizing the Barriers faced by the Global Naphthalene Derivatives Market
The chemical properties of naphthalene makes it toxic for human use when given in excess amount. The extended exposure to naphthalene results in destruction of red blood cells causing hemolytic anemia, damage to lungs and neurological system which is estimated to result in increasing acceptance of economical alternatives during the forecast period.
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This report also provides the existing competitive scenario of some of the key players of the global naphthalene derivatives market which includes company profiling of Clariant AG, Koppers Inc., BASF SE, Arkema Group, Rutgers NV, Kao Corporation and Evonik Industries AG.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global naphthalene derivatives market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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