Global Naphthalene Derivatives Market Report and Forecast 2024-2032

Global Naphthalene Derivatives Market Outlook

The global naphthalene derivatives market size reached approximately USD 1.75 billion in 2023. The market is further estimated to grow at a CAGR of 4.10% in the forecast period of 2024-2032, reaching a value of around USD 2.50 billion by 2032.

Key Trends in the Market

Naphthalene is a solid crystal with a characteristic odour and its derivatives are broadly used as surfactants, insecticides, and wetting agents, among others, in major sectors such as agriculture, construction, detergents, pharmaceuticals, rubber, and textile.

• One of the key naphthalene derivatives market trends is the expansion of the construction sector, which is boosting the use of various derivatives in concrete admixture and pre-stressed concrete, among others. Furthermore, naphthalene derivatives are utilised in concrete to form solid blends and reduce the water-to-cement ratio.

• Naphthalene derivatives find their usage in the pharmaceutical sector for the development of new medications and drugs. Hence, the increasing research in medicinal chemistry for the production of drugs with minimal toxicity is likely to boost the naphthalene derivatives market demand in the coming years.

• The increased adoption of naphthalene derivatives in the textile sector for bleaching and dyeing materials due to their wetting and defoaming properties is another crucial market trend. Azo dyes, which are extensively used in various fabrics, use naphthalene sulphate as a precursor during formation.

Market Analysis

Based on form, the market is divided into powder and liquid. On the basis of source, the market is classified into coal-tar, and petroleum based, among others. By derivative, the naphthalene derivatives market segmentation includes phthalic anhydride, sulphonated naphthalene formaldehyde (SNF), naphthalene sulphonic acid, naphthol, and alkyl naphthalene sulphonate salts, among others.

Based on industry verticals, the market is categorised into paints and coatings, pharmaceutical, construction, textile, pulp and paper, and oil and gas, among others. The major regional markets for naphthalene derivatives are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global naphthalene derivatives market covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Biosynth Ltd  

• Giovanni Bozzetto S.p.A.  

• Himadri Specialty Chemical Ltd.

• King Industries, Inc  

• JFE Chemical Corporation  

• Rain Carbon Inc.

• Industrial Química del Nalón, S.A.  

• PCC Rokita SA

• NIPPON STEEL Chemical & Material Co., Ltd.  

• Koppers Inc.   

• Others

Market Share by Industry Vertical

As per the naphthalene derivatives market analysis, the construction sector accounts for a considerable market share. Naphthalene derivatives are used for the formation of concrete owing to their low volatility and odourless nature. Moreover, sulphonated naphthalene formaldehyde, a naphthalene derivative, is widely used as a reducing agent in concrete and enhances its workability.

In the forecast period, increasing residential and commercial construction and rising investments in infrastructural development are likely to add to the market.

Market Share by Region

The Asia Pacific holds a substantial portion of the global naphthalene derivatives market share due to the robust growth of the manufacturing and textile sectors. The rapid population growth and urbanisation in the region are driving the infrastructural development and construction activities, consequently supporting the demand for naphthalene as intermediates in construction materials. Moreover, the increasing utilisation of naphthalene derivatives in the production of paints and coating layers, chemicals, and pharmaceuticals is also expected to contribute to the market in the forecast period.

Competitive Landscape

Biosynth Ltd, founded in 1966, is a manufacturing service company that provides custom synthesis and life science reagents. The company, with its headquarters in Staad, Switzerland, provides raw materials to pharmaceuticals, among other sectors.

Giovanni Bozzetto S.p.A., a chemical company, founded in 1919 has its headquarters in Sicily, Italy. It provides chemical auxiliaries for water treatment, agrochemical, construction, and textile sectors.

Himadri Specialty Chemical Ltd., founded in 1987 and based in Kolkata, India, supplies chemicals and carbon black. The company also focuses on improving the utilisation of resources and developing innovative products.

Other naphthalene derivatives market players include King Industries, Inc, JFE Chemical Corporation, Rain Carbon Inc., Industrial Química del Nalón, S.A., PCC Rokita SA, NIPPON STEEL Chemical & Material Co., Ltd., and Koppers Inc., among others.

Key Highlights of the Report